As a brand, your end goal is to get more consumers on board. This may be an oversimplification, but the fact remains that your consumer base drives the economic growth of your brand. To this end, you probably have a marketing arm, or even a team dedicated to bringing more consumers into the fold. But how does a marketing team accomplish this? Put simply – consumer research
Consumer research is a valuable business tool that can help you understand your customers and what makes them tick. Are there certain colours that appeal more to your target audience? Does the language you’re using make them want to buy your product or run around looking for a dictionary? All this information (and more) is what helps you and your team craft products, marketing programs and advertising campaigns that increase sales and profitability.
Consumer research is the foundation of your marketing department. The marketing folks you have on your payroll need timely and effective consumer research to make effective decisions, whether they be day-to-day or long term. The more accurate your research, the more accurate your targeting. This should help you choose the best forms of communication and advertising, which in turn ends up helping you budget and plan accordingly.
Research and analysis of consumer behaviour can be quantitative or qualitative in nature. Quantitative research produces measurable data and statistics such as what percentage of your audience belongs to a certain age group or where they shop for your items. Qualitative research, as rough rule, provides less structured results as it focuses on opinions and motivations – why is the consumer buying your product? What do they think about your recent ad campaign?
The reason your brand needs effective research is that it not only shows what you’re doing well, but also what you can do better. At times, the results of customer research can be ambiguous, and you may need additional targeted research.