Marketing Research: What is it and Why Do I Need It?
To deliver data-driven results, someone should conduct marketing research on your business' behalf (and not just the kind where you do a google search or two).
Research sets out to find your target audience, improve your rankings on search engines, better inform your content marketing campaign, ,and increase brand loyalty. To learn more about the research process, check out this SEMRush blog.
How can you compete with other small businesses when you aren't watching what your competitors are up to or doing research?
Why do businesses use market research?
There are different types of marketing research, but all involve continued research that takes time. Steps include identifying a problem or pain, developing a plan, collecting information, analyzing the information, and making a decision or pivoting your strategy. That market research should then inform your marketing efforts going forward.
Sometimes this might involve a customer survey to identify your target or interpreting the analytics of a social media ad campaign to see what changes you need to make. The ultimate benefit of marketing research is that it allows your business to evolve with the industry.
What are buyer personas?
Marketing research helps you, as a business owner, understand your target audience and their buyer personas. For example, what are the qualities of your buyers? How can you better tailor your research marketing efforts to appeal to this group of people?
After researching, you should know what this specific group’s pains are, what they need from you, and how you can deliver to that target market. Keep a pulse on your buyer personas and their common characteristics. Your product or service should provide comfort for them, since you know what they need.
What Research Services Does Hiveminded Offer?
If you’re elbows deep in dough at your pizzeria or fixing the radiator on someone’s car, how are you supposed to find the time to survey your customers and see what they need from you? The research services offered at Hiveminded are the answer. We know the importance of research for successful marketing strategies.
Our employees specialize in inbound marketing which focuses on building meaningful relationships with your target audience. Our research might survey existing and potential customers about what they look for in a business like yours. From there, you can tailor your strategy to those people (and others like them) directly.
Successful marketing is entirely dependent on data and research, and at HIVEMINDED Marketing, we can fill that gap for your business.