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Why Research Matters

Posted on: July 15th, 2016 | 0 Comments

Marketing Research

Every marketer will agree that research is important, but so often it is pushed to side. It could be sliced out for budget reasons, or maybe only cursory research is done due to time restraints. Whatever the reason, research isn’t done nearly as often as it should be, considering how beneficial it is. Here are five reasons why research should be at the top of your list, every time.

  1. Understand your consumer

Everything should revolve around your consumer. They are your boss and they have the final say. You need to know what their needs are to be able to satisfy them, and you need to know their mindset to be able to present your solution in an appealing way. Proper research will remove any internal biases and guesswork that you would have otherwise relied on, and instead will create concrete, actionable data. After all, it doesn’t matter what you or your team think, what matters is what your consumers think.

  1. Understand your competitors

Everyone knows the phrase ‘keep your friends close, and your enemies closer’, and it applies in the marketing world, too. There will always be someone else who offers a product or service that is strikingly similar to yours, so you need to differentiate yourself in a meaningful way or risk having consumers flock to your competitor. With research you will know where you stand in relation to your competitors and what attributes matter most to your consumers. This will allow you make smart and informed decisions and to differentiate yourself in ways that really matter.

  1. Stay focused

Odds are you aren’t just working on one project, but rather you have a whole multitude of things going on that can run together. Having good background research for each project will give you a base to keep returning to so you don’t get sidetracked. It will refresh your memory with the key things that really matter, so you are able to stay focused on what is important without wasting time on another aspect that your consumers aren’t interested in.

  1. Quantify opportunities

A combination of qualitative (think ‘free response’) and quantitative (think ‘numbers’) research will give insight on what is most important to your consumers. This will let you better weigh options to find the best possible decision. It will help you to pursue the right course of action and get better results the first time around, since your decisions will be backed by research instead of ‘gut instinct.’

  1. Be Innovative

Consumers aren’t static – they change their mind all the time. With research you will be able to spot the changes immediately and adapt quickly. By collecting data over time you’ll even have insights to new trends before they start, which will give you a jump start on your competitors. Being able to adapt and change is key to meeting long-term needs and staying relevant, which is necessary to survive in an ever-changing marketplace.

Have more questions on how research can help make your company stand out? We’d love to talk. Reach out to us here.

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