Why is Marketing Research Beneficial for Your Business?
“Measure twice, cut once.” – Sam Walton
Marketing is as much about research and planning as it is about communication. Marketing research provides the critical reality-check to help decision-makers understand both their current situation and the true challenges and potential ahead.
Too often business owners and managers create great aspirations and expectations about their future, their market position, what services they will provide, or products they will sell without sufficient evidence (research) that these goals are even achievable. When they call upon their advertising to “communicate” and to generate sales, it fails or has no measurable impact.
Then the “Blame Game” begins. Smaller entrepreneurs blame their media. Mid-sized to larger companies blame their marketing departments or advertising agency.
Why? What happened? Where did communications miss the mark?
Maybe it didn’t. Simply, the omission of proper research can doom even the best advertising communications.
- What if there was no or very limited demand? Can communication alone create and sustain a market? Can you sell ice to an Eskimo?
- What if your quality of service is bad or you can’t deliver what you promise? Can good communication keep dissatisfied buyers returning?
- What if consumers have found your competitor better at providing the same thing you offer? Can communication continually convince people to go against their better judgment?
Before you start spending money on advertising, spend some on understanding your buyers, your competitors, and your environment. If you don’t and your marketing/advertising fails to produce, you’ve got nobody to blame but yourself. Those are the facts.
At Red Crow Marketing, we can help you devise a sound marketing plan that utilizes this important knowledge to bring you closer to your customers. If you’re ready to start delivering a personalized experience to consumers, contact us here or call us at 417-889-1658.