Using Market Research to Develop a Winning Marketing Strategy

Lynn Martelli
Lynn Martelli

Feeling like a hamster on a marketing wheel, going nowhere fast? You’re not alone!  Many of us are tired of the same tired tactics, watching our Net Promoter Scores nosedive faster than a runaway vine in a jungle storm.

This is where market research comes in, your trusty machete to hack through the confusion. It’s like ripping off that marketing blindfold and finally seeing the path to success.  Let’s ditch the guesswork and use research to craft a winning marketing strategy that actually resonates with your audience.

It’s almost like preparing for a jungle trek.

Picture you going out to get ready for a trip in the Amazon. You are not gonna just get up, run away and jump on the plane right? You’d research when to go, where were the hot places to visit, perhaps even some rudimentary survival tips (other than not getting eaten by those pesky piranhas!).

Market research is no different. Instead of throwing money at social media ads or printing a million flyers, step back and know your target. These people that you try to talk to, who are they? What do they need, want, and hurt from? What Sort of Content in them Can Get Their Attention?

The Power of Finding Your Tribe:

For example, if you are going to roll out a new series of organic protein bars. Well, then we are not exactly surveying the most profound population of people but rather people who are eating candy bars for breakfast…haha

In the marketing world, market research allows you to define your target audience — that is, your “tribe”.

Consider it: Would you rather talk to a person who truly enjoys good nutrition, or someone who’d never touch a protein bar with a ten-foot pole? You can then leverage such insights to shape your marketing messages in a way that appeals to the interests and behaviours of your tribe.

More Than Just Surveys In Your Toolbox

…and yes, surveys are awesome, but they aren’t your only weapon with marketing research! Try a Blend of Approaches to Obtain well-rounded Image from your Desired Audience Here are a few options:

Social Media Listening: A deeper look into real-time conversations occurring in various locales across the interwebs that touch your industry, or niche. What Is All The Talk About? Their worries and problems? Why?

Focus groups – Bring together a small group of prospective buyers and talk about your product or service more generally. This could help in finding out any hidden insights and might even point out certain possible improvements needed.

Interviews: Interview your perfect customers to get 1 to 1 understanding of their needs, desires and motivations.

Whispering Vines: Avoiding Biases

Everyone deals with bias, creeping up like those sneaky vines in the jungle while we conduct market research. Perhaps you’re head over heels for the product idea, which leads you to view the data with rose-colored glasses. Remember, you have biases and those can color how you view your results.

To reduce bias, follow these best practices:

Establish your research objectives up front: The clearer you are with what you’re trying to answer, the less likely it is that you get lost in the data.

Variety of research methods – not just surveys that will sample your confirmation bias.

Iterate on your results: Show your findings to others and get an outsider’s perspective on the data.

Turning Insights into Action:

After you have collected all the details from your market research, it is time to change this information in a profitable marketing strategy. Here’s how:

Develop Strong Messaging: Take what you learned from your research to develop messaging that hits home with the people who you are targeting.

Select the correct channels: Where does your prospective audience spend their time either online or offline. Advertise where your target audience is most likely to stumble upon your product or service.

Measure your success: Do not just put your marketing plan out there and expect it to work. Lastly, record your responses and allow the results to guide you in fine tuning your strategy.

Market research is not a one-time thing. As your business grows and the market changes, revisit your research and keep your marketing strategy fresh.  Understanding your audience is truly the core of any marketing effort. But hey, even the most determined explorer needs a good guide sometimes! Get in touch with a market research agency if you’re feeling overwhelmed. They have a whole arsenal of tools and expertise to help you gather valuable insights and navigate the complexities of market research. With a strong foundation in research and a deep understanding of your audience, you can transform your marketing efforts from a confusing jungle trek into a successful expedition that leads your business to victory!

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