Market research & marketing: 5 (vital) data you could get today

Market research is the cornerstone of shrewd marketing strategies.

The effectiveness of your company’s marketing strategies depends on the information on which they are based… A close, unbreakable bond that makes the market research essential to obtain translatable data.

Translatable into what? In winning actions in terms of earnings, reputation, and overall performance of your business.

If you want to adopt successful marketing strategies, there are no secrets or random methods but only data. Those you can get through web listening, that is, listening to the web.

Intercepting Big Data online is but the first step. Because sifting and interpreting them allows our market research agency to provide you with actionable data, that is, data that can be translated into profitable actions for your business.

Among the actions you can deploy through data, marketing strategies play a prominent role.

In fact, today we want to talk to you precisely about the marriage of market research and marketing , and also provide you with examples of data that you might get together as a result of our analysis.

If you have come this far, it probably means that you want to learn more. And then, all you have to do is to continue reading….

Market research companies: why are they critical to your marketing strategies?

Market research provides companies with crucial input into the planning and development of marketing strategies. 

It has been well established for years: market surveys are the pillar on which the marketing decisions of all major national and international brands are based. But why does this happen?

Simple. In a nutshell, we can say that market research helps your company to:

• Choose the next products/services to be launched
• Measuring the effectiveness of an advertising campaign 
• Adopt the right brand and product promotion strategies 
• Understand which products are most valued by target customers

In short, market surveys are useful in the immediate business operation and prospectively in the strategic planning phase. 

That’s right: a successful marketing strategy can neither rest solely on a short-term view (you’d risk losing sight of the big picture) nor solely on the big picture that makes each step forward too slow and small.

The uncertainty about what to do stems from the lack of Data and especially the lack of Data culture, with respect to Business decisions.

Not having up-to-date and reliable Data wastes a lot of opportunities and time. Too much!

1) Current future market trends.

What products or services to launch in the future? During our market analyses we intercept millions of public data on the web to carp about current and future market trends.

By being aware of the trends in your target market, you can choose which products and services to study for a future launch in order to fully accommodate industry trends.

You know how dynamic the market can be and how important it is to keep up with the news, right?

To succeed and improve its market positioning, your company is in constant need of innovation . Nothing can give it that more than the study of trends.

Read also: Why (and how) Market Research Institutes could help you in your marketing activities

2) The needs and preferences of the target clientele. 

Your target customers know exactly what they want and how they want it, and they express it in a myriad of ways on the Web.

Our task, when setting up online market research, is to intercept the opinion, desires and preferences of thousands of people regarding products, services, communication methods (and much more) related to your target market.

Only in this way can you understand which marketing strategies to adopt to please customers-and be more successful, examine the performance of your strategies, and understand which ones have worked and which ones have not.

Also, do not forget that the success of a strategy also depends on the communication channels used to implement it.

3) The most effective communication channels for your target market.

If your customers do not use Twitter and Facebook but prefer to search for information on Instagram, review blogs, and news outlets, how much hope for success would a strategy based on using the first two channels have? 

In all likelihood none or, if we are to be optimistic, very few.

Knowing your customers’ favorite communication channels (and ways of communicating) allows you to get closer to potential customers, maximize ROI, and improve both your reputation and customers’ opinion of you. 

And, speaking of opinion, here is one more piece of data that CMI‘s signature market research provides you with… 

4) People’s opinion about your brand and products.

Knowing how your current and potential customers feel about your company, the way it communicates and the products/services it handles is essential to understanding where-and how-to improve and where, on the other hand, you are proceeding in the most correct manner. 

Through the opinions of your target clientele, you can also learn which products/services you should push harder on, which you should advertise differently, and which you might consider abandoning or shelving momentarily. 

Knowing what your customers think about you is one of the pillars on which to base your marketing strategies. Don’t forget, however, to check how your competitors are doing!

Read also: Research and surveys: the (necessary) questions to get to the right answers

5) Competitors’ winning and failing strategies and target customers’ opinions about competing brands. 

Spying (legally) on the competition is one of the best ways to figure out where and how to improve, which strategies to adopt and which ones to leave alone.

Knowing the marketing strategies adopted by your competitors allows you to analyze those that have been successful and those that, on the other hand, have failed in their intent.

This way you can better optimize your finances, improve already effective marketing strategies, and outperform competitors through awareness of their actions. 

Not surprisingly, our market analyses very often includecompetitive analysis as one of several steps. 

In conclusion 

Thanks to the enormous availability of information on the Web, we can gather accurate and useful information about your target market, your brand, your target customers, your competitors, and much more.

Abandoning old methods, such as surveys, interviews, and focus groups, and moving to web listening-based market research is the starting point for studying successful marketing strategies and making sound decisions aimed at achieving precise goals. 

Your company’s reputation will also benefit from our market research.

Contact us now and we will evaluate together how we can help you achieve real results!