Top 8 Reasons for Market Research

Top 8 Reasons To Do Market Research In 2022

By Scott Bahr

January 24, 2022

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Looking back on 2021 we saw numerous trends in reporting, data & analytics; a growing need for a better understanding of the customer experience to be successful in marketing. For this year we have delineated some of the things that we at Cairn Consulting Group see as the top eight reasons to do market research in 2022.

With the change over to 2022, we see the constant rollout of trends for the past year and predictions for the new. Instead of providing those, we like to take a holistic look at what people and businesses can use to build a better marketing strategy and break down what we think are useful pieces of information when looking at your informational needs in the new year.

Top 8 Reasons To Do Market Research in 2022:

  1. Buyer Personas
  2. Buyer Personas
  3. Understand Target Audience
  4. Understand Target Market
  5. Improve Blog Writing
  6. Understand Market Needs
  7. Improve Marketing Strategy
  8. Better Graphics
  9. Improve Customer Experience

1. Buyer Personas

Personas are an important part of the marketing strategy by putting a face to your customers and prospects, a personality. This approach establishes a framework for building strategies for your services as well as your communications. A well-developed persona will provide the basis from which the marketing team can deploy resources and execute tactics used to build your brand.

2. Understand Target Audience

Without understanding your target audience, all of your marketing and communications efforts are subject to change. In order to ensure that your communications are in line with your audience, you must first understand what messaging your target audience is most likely to respond to, using their preferred channels.

3. Understand Target Market

Your target market in all likelihood will be comprised of different segments, which could include a set that is similar to your current customer base, but also prospects who might be a “fit” for your product or service but need to be nurtured and developed. In order to understand your target markets, it is important to gain a depth of understanding that encompasses their behaviors, their history, their attitudes, and who they are demographically.

4. Improve blog Writing

Blog writing continues to be an important method for raising awareness of your organization, and blogs are only as good as the content that is included. For this reason, market research provides a wealth of information that feeds into your blog content. Indeed, one well-conducted consumer survey can be used for numerous blogs by picking a subject and detailing the findings, as well your conclusions and how those conclusions are relevant to the business.

5. Understand Market Needs

Exploratory research is the best approach to understanding what the market needs. The process, which should be ongoing and iterative, is a way to not only inquire about what the market is seeking, how the market responds, and how competitors are impacting the market, but also to identify gaps in the array of products and services. By identifying these gaps, you will find your opportunity to build your business and increase your reach.

6. Improve Marketing Strategy

Your marketing strategy can only benefit from market intelligence. Without knowledge of your market audience and target markets, your strategy would, once again, be based on chance and not quantifiable insights. Additionally, by conducting market research, you will be able to measure over time the impact of your marketing efforts and identify what messages (and platforms) are breaking through, how you are positioning your organization, and where to make adjustments over time.

7. Better Graphics

The information from your research efforts provides a vast amount of information that can feed into meaningful and engaging graphics. Graphics are important in gaining the attention of your audience and by feeding information from your research efforts, the graphics will have relevance and are more likely to “stick” with the reader.

8. Improve Customer Experience

The most successful organizations are able to build a continuous improvement process into their business. The customer experience is the heart of all businesses, and the quality of that experience will determine your level of success. The research will identify for you how customers experience your products or service and importantly, allow you to investigate areas of improvement, or gaps in the experience that can be enhanced. This attention to detail based on customer feedback will allow you to make the changes necessary for ongoing success.

Conclusion

Building buyer personas can be an extensive and cumbersome process, but the value of having them cannot be overstressed. Each of these eight points highlights the need and benefit of doing market research. With Cairn Consulting Group we look to streamline the process for businesses to help solve problems and answer those difficult questions that data will help shed light on. We help support businesses from small to enterprise realize their goals through data-driven decision-making.

Looking to build buyer personas for the new year?

Set up a chat with our personas developer to build your next market strategy and leverage persona research. Let us know what you think about the Top 8 reasons to do market research in 2022.

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