Research provides insights into customer expectations and market trends to help you position your brand, generate demand, develop strategies and tactics ward off competitive pressures, influence purchasing habits and loyalty. In short, market research has become essential if you want to future-proof your business.
It’s important to conduct research on a continuous basis and if this isn’t feasible at least once a year. Avoid relying on past research or industry research because your business now operates in a volatile, ever-changing environment.
Although industry specific research from companies such as IBIS forms a useful starting point, it often does not apply to your specific needs especially if your business operates in a niche market.
Not Another State of Marketing Report showed about (91%) of the companies surveyed use customer feedback to make decision, 83% of marketers are conducting market research, 88% of companies are using market research to make business decisions and 67% of marketers plan on increasing market research spend in the next year
Regardless of your collection methodology, it is important to design and impartial research questionnaire so as to acquire data that allows you to open your eyes to new strategies, social media platforms, new distribution channels, pricing and payment trends, preferred communication channels, and new customer expectations.
Not Another State of Marketing Report
More information on NPS and In-App Surveys
Market research allows to gain insights from your customers to create improving experiences for them.
Businesses with quality data are more likely to collect actionable customer insights, which can help them grow and future-proof their business.
Enquiries
maria@mapmarketing.com.au