2022 begins as an opportunity to set goals and make positive changes. Not a few people establish the month of January as the ideal time to start various habits that range from exercising or starting a savings plan. Businesses should not be the exception. Although improvement in brands is usually a continuous process and is not governed by the same times as individuals, they may well take advantage of the first days of a year to make an evaluation.
The inventor of the absolute temperature scale is credited with the following phrase: “What is not defined cannot be measured. What is not measured can not be improved. What is not improved, is always degraded.» Many companies fully understand this maxim and for this reason they invest in market studies to know their sector as deeply as possible and thus establish market plans with clear objectives and with a view to growth.
It is for the latter that market research is considered an investment that, if carried out correctly, can reduce uncertainty and risks when it comes to undertaking and continuing efforts. Here are some examples of studies that can yield useful data for the improvement of processes and definition of actions for your brand.
- Brand awareness. It may seem obvious, but many brands do not know for sure their positioning or perception among their consumers. Knowing with which values and adjectives a company is described by those who consume it turns out to be an area of opportunity for many. In the best of cases, the idea that one has of a brand will tie to a greater or lesser extent with what it was raised. Knowing this topic first-hand is the basis for the rest of the plans that a company establishes.
- Definition of target consumer. Another element that is often assumed is the characterization of the target customer. Not knowing the demand can lead to direct communication campaigns or point of sale locations in segments that have no interest in what is offered. The more detailed the characterization of the people to whom you want to approach a good or service, the more effective the prospecting and planning actions will be.
- Consumer satisfaction. Once a base clientele has been secured, it is time to learn about their consumer experience. Ignoring the concerns and experiences that consumers have can result in insurmountable disagreements if too much time is allowed to pass. Therefore, projects in which customer response is evaluated can generate invaluable data and information when making changes that increase company loyalty and growth.
- Location. One of the four traditional «p’s» is the one that refers to the place. Every day the knowledge of space is gaining more weight as a determining factor for decision-making within brands. There are sites that are more accessible than others and some that concentrate more consumers looking for what a brand offers than others. Knowing how to answer the question “where” allows a company’s resources to be focused on those places where it is really worth investing in order to obtain the best results.
- Outsource costs. Sometimes brands simply need suppliers that allow them to fulfill their market research tasks with the greatest optimization of costs and times. If in this process the experience of a team completely dedicated to projects of this type is obtained, what better. In this area there are services and deliverables such as recruitment, moderation, translation, conducting interviews in the field, desk studies, among others.
Since 2003 Acertiva offers Market Research solutions in Latin America. We have a team of analysts and regional strategic allies that allow us to help brands meet their needs with the maximum customization possible. Meet your goals of knowledge and understanding of customers, market and competition with us. Contact us today to tell you how together we can write your next success story.