Marketing Research

This is what you should consider with your marketing research…

Marketing research starts with the right plan!

It’s important to remember that the road to success is always changing. This means that your marketing plan may be revised as your business develops.

Marketing Plan

The marketing plan is a moving target dependent on what is happening in your industry on an ongoing basis. This is a road that is constantly under construction and should be if you hope to be successful. It’s always important to change your plan when new information becomes available. Be comfortable with tweaking this plan on an ongoing basis.

The marketing plan is composed of research that is concentrated in the following areas:

  • Demographics
  • Psychographics
  • Industry
  • Suppliers
  • Products and Services
  • Competitive Analysis
  • Strategic Analysis
  • Brand
  • Positioning
  • Pricing
  • Media Reach
  • Social media monitoring

When creating a design for a website, it’s important to consider who you are appealing to, and how you will gain their interest. This is why it’s important to know various profiles of your potential client including demographic and psychographic information. This gives you a birds-eye-view into who they are and what interests them. It also gives you an idea as to what social media platforms they are more likely to use, and how. This information serves as the foundation for every marketing idea, plan and strategy that follows. Creating a plan around where your demographic lives, their interests, their challenges, and hobbies will help you find an effective way to communicate them. Without this information, you are wasting time creating content and strategies that may or may not matter to potential clients/customers.

One of the most common mistakes people use is in trying to reach everyone, everywhere. When you speak to no one in particular, your message will not be heard, much less acted on. With every generation, there are crucial characteristics, interests and belief systems formed in the political, and cultural environments they grew up in. Even when people live in the same area the environment around them is in constant flux, so what matters to one generation, won’t matter as much to another and vice versa. This is why it’s important to have an in-depth understanding of the unique differences between various cohorts. Experiences are powerful, and there are a wide range of them depending on what your parents and peers valued.

The mystery of the Millennials

As an example, the Millennials have confused many companies who have lost massive profits making assumptions about what this generation wanted. Car manufacturers continued to create an affordable 'beginner' car for Millennials, only to find out that they don't care to drive. Click To Tweet This is the first time in many generations, that an entire generation could care less about getting their first car. It’s simply not that important to them.

Knowing what your potential consumers want will save you time, money and a lot of frustration in the future.


Do your research before starting a business

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