Marketing Research: Why do you need it?
Creating a marketing campaign without research is like trying to build an engine without a blueprint. Without proper planning, your marketing just can't reach its full potential! You need to know what your audience wants. Only then can you compete with your competition.
The tips in this blog come from my new package, the Marketing Research Report.
You need to understand your Target Audience
You probably already have an idea who your target is. But, you have to know your audiences' interests, wants and needs. If you don't know what people want, you can't just expect that they'll buy your product or service!
This quote from SurveyMonkey is a great example:
"Say you’re starting a pie business. Performing target market analysis can help you choose the best location for your bakery, land on the optimal price point for your pies, design appealing advertisements, and place them where the right people will see them."
There are many efficient ways to find information about your audience through primary and secondary research. Online, you can quite easily find studies about how people of different age ranges, genders, incomes and interests consume marketing. For even better information, conduct surveys and interviews yourself.
Ask your audience:
What they think of your business
What they think of your competition
What channels they use
What language they use
Now you have this information, you have a much better idea of what you need to say through your marketing, and how!
You need to know who you're competing with
Think about who your direct competition might be. Which businesses are offering a similar product/service as you, in the same area, to the same target?
You can find your competition by:
Searching on Google
Searching social media
Asking your target audience
Networking and meeting people in your industry
Do some research and look at what they're doing. How are they marketing their business? What can you take from that, and what can you do to stand out?
The businesses coming up first on Google have great search engine optimisation, and the ones with large social media followings are well-known. Look at all the marketing channels they're using.
From here, you can start finding ways for your business to compete!
You need to know your positioning
Now, you have to decide where your business fits into the market. Where do you stand compared to your competition?
There are many elements to positioning. To start, research your competitors':
Value for money
Don't forget to look at reviews. What are your competitors doing well, and what are customers complaining about? How can you show your target audience that you're the better option?
Find more on positioning here.
You need a unique message
So, now you know your target audience and how to reach them. You know your competition. You know what makes you different. It's time to decide on a unique message!
What is the single most important thing your target audience needs to know about your business?
Compress all the information you've learned into one sentence that encompasses your brand and your marketing strategy. Build all your marketing campaigns around it. Let people know why they should choose you!
Now it's time to start building marketing campaigns.
So, there you have the basics of marketing research! If you want more, check out my Marketing Research Report.
Head back to my blog for more on marketing copy and digital marketing.