Understanding your target audience – and more importantly, what they’re looking for from your company is an important first step in any marketing efforts you undertake. Often, people think conducting research entails hundreds of thousands of dollars and months of effort. In reality, research doesn’t have to be expensive or time-consuming.
While there’s definitely a time and place for extensive research – and we have several clients who have asked us to do just that – every company can take advantage of custom research. With the combination of improvements in technology and research panels, it doesn’t take a significant investment to perform your research and answer your questions.
Let’s take a look at just one example where research made a huge difference:
Several years back we were working with a mid-sized manufacturer that had established a very successful product in the RV industry, and they saw a similar opportunity in the boating and marine industry. After a few years of showing their products at the major shows, they struggled with distribution – even after getting positive reviews for product quality.
We created a small, targeted mail survey to provide definitive answers that steered the manufacturer back on track. The target audience was significantly influenced by company brands that had served their industry for years.
Rather than investing in building their brand in a new sector, our client discovered they would fare better by partnering with an established name in the industry and becoming their OEM. By pursuing this strategy, the client achieved a ten-fold increase in revenues – something that wouldn’t have been possible with the targeted, cost-effective research we performed.
While we can’t guarantee that a $3,500 mail survey will yield the same results for every company, we take strides to find not only the best research design for your needs but also the best approach to fit your budget.
We know how tempting it is to want to dive right into tactics to ‘get things rolling’ once you finally have the time and resources to devote to your marketing. But, doing that without solid research and a data-focused strategy developed first is akin to building a house without a foundation – it may hold for a bit, but eventually it will crumble to the ground.
Whether conducting research with something as simple as a mailed (or emailed) survey, or expanding it to include one-on-one telephone interviews or focus groups, the information gleaned from this foundational work will not only unearth unknown insights, but also reinforce certain assumptions about your target audience and their interests you’d already made – both of which are key in developing your marketing strategy.
Once you have that information in hand, then forming a marketing strategy using that data allows you to craft an approach that will support your business objectives and marketing goals, while driving sales by focusing efforts to resonate with your target audience.
This necessary foundation work then enables you to develop tactics that align with what your target audience wants – whether that be with your traditional marketing efforts, such as email, digital, website development, videos, etc., or when developing a social media marketing strategy and accompanying campaigns and editorial calendars. It all starts with understanding your business – and your target audience.
Ready to dive into research that can make a difference for your company? Stealth Insights, our research team, is ready to chat with you today. Just give us a call at 314.480.3606 or shoot us an email, and we’ll put together a research plan that works with your business objectives and budget.
And as always, stay tuned for more tips from Stealth Creative next time we go Off the Radar.
So this is the conundrum: The age-old question of risk-taking vs. more confidence in decision making. I’m an intuitive marketer, but I’ve done a lot of research along the way, too. I’m intuitive in that I usually know where to start a project and the direction to take, but I love conducting research along the way to inform the decision-making process.