Many organizations are threatened by the suggestion of market research. It takes time and money, but it’s often the key to staying relevant and being on target. As you know, misfires are extremely expensive.
Market research will build your brand and your bottom line in many ways for many years. It can be simple or formal and in today’s digital world, it should be an ongoing activity. As always, we recommend market segmentation for maximum productivity. Most importantly, we break your market research into two groups—customers and non-customers. Then, we break your customers into three groups—new, ongoing and lost. This segmentation allows for target marketing and customization, which maximizes the return on your marketing investment.
If we can gain insights into each group’s awareness, attitude, motives, experience and more, it can help us shape the brand experience, the channels used to reach each group, and the messaging necessary to gain influence. Ultimately, this insight will help refine your strategic plan for maximum impact. The process is very similar for a corporation or a nonprofit advocacy organization. Information is power that makes sure that you are on target and ahead of the competition. We can help shape the planning and process, including focus groups, surveys, in-depth interviews, data harvesting, and more. We can help you gain valuable insight to all of your stakeholders, including:
- Board members;
- Regulators; and