Marketing is MeaninglessUnless your marketing is backed by research, you’re wasting your advertising budget.
It’s a no-brainer. Unless your marketing is smart, it just won’t be effective. Think about it. If you’re running ads without knowing who your customers and prospects are, what they’re habits are, and which tactics are best to reach them, how can your ads inspire action?
Not convinced you need market research for brilliant campaign results? Let’s look at what market insights can help you do.
Understand Existing Customers
How well do you really know your customers?
That’s not a philosophical question. To understand your customers, you need to know more than what they buy. Knowing your top sellers isn’t enough because it’s not about you. It’s about why your customers buy from you, what need your products or services fill, when and how they’re most likely to shop, and who they’re shopping for.
You can start by compiling the customer data you do have (e.g. names and physical and email addresses) into a database. From there you can build questionnaires and surveys to help you learn more. Once you have a wealth of geographic and demographic information (e.g. age and marital status) you can begin digging in and segmenting using trusted research to assign psychographic factors to your customer base.
Understanding your existing customers can help you do everything from retaining them to upselling add-ons to expanding your products and services. With data in your back pocket, your investments in innovation and marketing will be less risky and more likely to be rewarding.
Identify Potential Customers
How can your business grow without new customers?
Your business isn’t just a matter of the present; you need to know where to find protentional consumers to ensure you have a bright future. Luckily, if you’ve gained insight into who your current customers are and what inspires them, you’ll know where to find potentials.
Though everyone would like to believe they’re a unique snowflake, the fact is that we all have hundreds of thousands of doppelgangers when it comes to data. Using trusted resources, you can work to learn who you customers’ lookalikes are, where they’re located, and how to reach them. Using your customer data to build buyer personas will elevate your marketing efforts.
And don’t forget, it’s still not all about you—well, your customers to be exact. Your competitors have customers, too. While you won’t likely have access to their consumer data, you can look at what these businesses are doing to attract and retain their customers. Examine everything from offerings to advertising to find ways to enhance your own products and services, refine your messaging, or find new niche markets.
Build a Meaningful Strategy
How can a marketing campaign be successful without a strategy rooted in research?
Marketing strategy is bigger than discovering your advertising audience—but not much. No matter what your business goals, you’ll never achieve them if you’re marketing to the wrong people. And how can you develop messaging or select the right tactics if you don’t know what will resonate?
When it comes to bringing your strategy to life with advertising, every aspect should be tied to research. From the colors and images to the copy, each element should be carefully designed to attract the right attention, engage the right audiences, and entice the right consumers.
Select the Right Tactics
How can your tactics be effective if they’re not reaching the right people?
It’s not about the formats you employ; it’s about how well they work to capture the attention of your current and potential customers. This is particularly true what it comes to digital advertising. Digital formats allow for a level of audience targeting and optimization that just can’t be matched by traditional media.
Your digital media mix will likely have to be as diverse as your customer base. The good news is, digital advertising allows for precision when it comes to audience targeting, ensuring your messages reach your target customers. From mobile and video to email and social, consumer insights can help you select and fine-tune your methods and messaging across demographics.
Are You Ready to Gain Insight?
Research is only as good as the strategists interpreting it—and we’re the experts at making sense of it all. We analyze buckets of data to understand your business needs and deliver insights that find, motivate, and convert your customers. Our marketing strategies are rooted in research, and they drive results.
Download our Audience Marketing whitepaper today to learn more about who your customers are and how to appeal to them.