How we find marketing information during market research.
Information is the basis of any business or commodity sector, and this is even more true for marketing. Successful companies know that marketing is not only creativity but above all the ability to hit the mark: that is why they increasingly rely on market analysis.
In an age in which there is certainly no shortage of information, indeed, the difficulty is not so much in sourcing this information but in selecting marketing information that is accurate, reliable and above all useful for one’s market.
This is because companies can leverage this information precisely to generate more value for the customer. That’s right: market analysis is first and foremost used by business decision makers to design successful strategies and initiatives: from the classic new product launch to repositioning an existing product/service (or the brand itself) just to name the most common goals.
When it comes to market surveys, the way in which this information is researched and acquired makes all the difference.
We at Central Marketing Intelligence have decided to use very different methods of data acquisition than the conventional systems used by most agencies.
Today we want to talk to you about this so that you can better understand the difference between these modes. We will also tell you about the benefits of market research carried out by CMI.
But let’s proceed in order…
What is market research?
Market research consists of collecting, analyzing data and presenting the results to the client. We will return to the latter aspect later….
Beyond academic definitions, the point is that a company always needs a market analysis to understand and verify whether its positioning is correct with respect to its goals and with respect to its competitors.
Only in this way will it be able to study and adopt appropriate business and marketing strategies that will enable it to improve reputation, increase visibility and, as a result, earn better money.
For a market survey to be truly useful for a company, it must be conducted by researching real, accurate and objective marketing information.
This is no small detail. And now you will find out why.
How is classical market research conducted?
Many entrepreneurs conduct do-it-yourself market research or rely on agencies that use acquisition methods that, if you think about it, are rather outdated.
Outdated methods of acquiring marketing information are surveys, focus groups, and interviews that are conducted online, face-to-face, or by telephone.
Why outdated?
Simple. As you can well imagine, these modes do not yield real results because they rely solely on the opinion of a small portion of the target customers and do not get a large audience talking-or rather listening (as is the case with online market research).
In addition, the results may be biased.
It may sound absurd, yet it is so. For example, agencies may not identify the right target customers for the companies for which they conduct market research.
Not only that: targeting a small portion of customers means that you are bound to get partial results (which, indeed, may be inaccurate). All contact methods involving telephone interviews, focus groups, or any interaction between interviewee and agency conducting the research cannot be completely unbiased. And therefore not entirely accurate.
Not to mention market research conducted independently by companies. An entrepreneur, or whoever for that matter, can take a look at social media, Google results, and (hypothetical) competitor sites, but can only get considerations based on little data and lots of assumptions and personal impressions. Of course, business intuition can help you, however, this method prevents anyone from achieving objective results.
Therefore, we at CMI have devised a completely different methodology that allows us to obtain real data to conduct reliable and, above all, actionable market research.
Actionable market research is an analysis that allows companies to immediately put into practice strategies identified through reading the research itself. Each CMI market research corresponds to a specific action by the company that requested the analysis.
Let us see, below, how our method works.
CMI market research captures marketing information through online Big data.
You should know that our market analysis is based on listening to the network. No filters or pre-packaged questions regardless of industry or survey objectives, nor even telephone interviews with open or closed questions. We collect users’ authentic opinions directly online, without “middlemen.” This is so valuable because it allows us to handle “pure” data at the outset.
To really get to the bottom of it, our systems collect everything (or almost everything) that is published on the Web about a specific topic. So there is first a thorough study of the topic, the target market, related topics and possible disambiguations just to make sure that the data collected are of high quality and CMI’s data analysts do not have to waste time in eliminating thousands of junk data that only slow down and complicate the investigation.
As we have seen other times, this information is public and comes from websites, online magazines and millions of conversations, social posts, reviews, ads… A huge amount of primary data that then needs to be compared with any secondary data already collected by the company for other purposes and contextualized according to the goal(s) set.
That is why the selection and processing of information becomes decisive. But that is not the only key aspect. Because, as we mentioned earlier, the presentation of the work to the client also matters.
No compromising between what the client expects to read and reality, let alone delivering reports consisting of hundreds of pages thick with data within which finding relevant information becomes like looking for the classic needle in a haystack.
CMI’s method provides only objective answers that come from the correct data at the source.
Read also: Research and surveys: the (necessary) questions to get to the right answers
What can we understand with actionable market research?
Through our market analysis we can obtain all the most important marketing information concerning:
- Your market
- Your brand
- Competition
- Your target customers
Virtually everything you need to really and immediately boost your business competitiveness.
Albert Einstein said:
“Learning is an experience, everything else is just information.”
If you’re not satisfied with getting the classic marketing information but want to go deep and get only real information that you can put on the ground immediately with concrete actions, contact us now to request a free, no-obligation consultation!
