When marketing a product or service, it’s vital you do the ground work before you start.
Even if your company is established, it’s important to keep up to date with your customers’ ever changing needs and preferences. Market research is an important tool in the marketeer’s arsenal, but the process can be rushed or ill-thought out. Here’s how to ensure your market research campaign will strengthen your marketing efforts in the best possible way.
Listen To Your Customers
Marketeers will have an idea of their target market and what they are looking for before launching campaigns, but relying on a hunch or general feeling is a recipe for failure. You need to take those initial thoughts and ideas and talk to your customers. Conducting market research will tell you what your customers and potential customers actually want and need. You can then use this information to shape how you proceed.
Making assumptions about your audience is fine as long as you aim to validate them. You need reliable data to ensure your target audience is interested in or ready for your products or services. To get an overall picture of your potential customers’ needs you must conduct extensive and varied research, looking at both qualitative and quantitative data. This should be presented to the various teams within your business as concise and accurate reports so they are able to use the information effectively.
Continue to Ask Questions
If you are launching a new product or service, market research doesn’t stop after you have launched. Once you have the data you need to generate initial success in terms of growing your customer base, you must continue to ask questions of your users. What do they think of your service? How can it be improved? What would they change? This is where you can improve and adjust certain aspects and will also reveal more about your customers.
Look to Outsource
Market research is a complex and extensive practice and should not be taken lightly. More and more organisations are choosing to outsource their market research to marketing specialists in order to take advantage of their expertise and ability to provide in depth reports for analytics purposes. Ant Marketing hold the Market Research ISO Accreditation, number 20252, and have done for over 10 years. We also provide a whole separate training scheme for our fieldworkers. We have over 50, separate, designated, CATI (Computer Assisted Telephone Interviewing) work stations, offering a resource to many research agencies and blue chip companies who do not have this facility, at a very cost effective rate. We have more information about about capabilities and accreditation on our market research page.