“I’m leading my company… somewhere. And I’m spending a ton of money to get there. How do I know if we’re headed in the right direction?”
“My community faces some tough issues. It would be great if we knew which ones to tackle, and in what order.”
“We need to know where the voters stand.”
Sound familiar? If so, you may need market research. Market research is the process of collecting and analyzing data about a specific topic. It helps you understand potential consumer or voter behavior and points to the design of strategies that motivate action.
Here are just a few of the ways research can inform your decision making:
- Risk analysis: Make informed decisions based on data and insights that identify both risks and opportunities in your market.
- Competitive analysis: Understand your competitors’ strengths and weaknesses. That’s how you develop strategies that can give you a competitive advantage.
- Trend analysis: Stay informed about emerging trends in the market. This allows you to adapt your strategies to meet changing market conditions.
- Reputation analysis: Assess your reputation and discover customers’ opinions of your products or services. Helps you address negative perceptions.
Primary & Secondary Market Research
Primary Research is original research designed to collect data specifically for your current objective. Primary research can be quantitative and/or qualitative. Quantitative research uses data and analysis to uncover important statistics that help you gauge interest in your products, services, or issues. Quantitative research is useful for answering “How many?” or “ How much?” and “Who?” tyle questions, such as:
- How much market awareness is there for your product, service, or issue?
- How many people are interested in your product, service, or issue?
Qualitative Research, typically conducted by asking questions one-on-one or in focus groups, gathers opinions and attitudes regarding your topic. Qualitative research offers an anecdotal look into your business or issue that helps define the nature of problems and opportunities. Qualitative research answers questions like:
- What do you think of this product/service/topic?
- What would make this product/service/topic more appealing/effective?
Secondary Research involves aggregating data that is publicly available and applying that data to your issue(s).
How Do I Use Research Results?
Data on its own is only half the story. Because NüPOINT is a full-service marketing agency, we help you turn data into action. Our marketing and media knowledge, combined with our digital and creative expertise, turns data into actionable insights and recommendations.
We’ll use your research results to create messaging that resonates with your audience, positions your topic effectively, and reaches consumers or voters wherever they are on whatever device(s) they use.
We’ll help you operationalize your strategies with innovative purpose-built tactics and continual monitoring of a wide range of marketing analytics. And we’ll follow through to be sure that your efforts are driving results