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The Marketer’s Dilemma: Knowing When to Conduct Research and How to Do It Right.

how-to-conduct-market-research
Image of the post author Jodie Shaw

As a marketer, you’re constantly juggling multiple priorities. You need to develop compelling campaigns that resonate with your target audience, stay ahead of the competition, and demonstrate the value of your products or services. With so much to do, it can be tempting to skip the research phase and jump straight into execution mode. However, this can be a costly mistake. Your marketing efforts will likely fall flat without a solid understanding of your customer’s needs, preferences, and pain points.s

That’s where market research comes in. By conducting research, you can gather valuable insights into your target audience and use these insights to inform your marketing strategy. However, knowing when to conduct research and how to do it right can be challenging. 

In this article, we’ll explore some telltale signs that indicate it’s time to conduct research and provide practical tips on how to conduct research effectively. Whether you’re a seasoned marketer or just starting out, this article will help you navigate the marketer’s dilemma and make informed decisions that drive growth.

Signs that It’s Time to Conduct Research

Several telltale signs indicate it’s time to conduct research. If you’re experiencing any of the following issues, it may be time to consider conducting research:

  • Declining Sales: If you’ve noticed a decline in sales, it could be a sign that your marketing strategy is no longer effective. Conducting research can help you identify the root cause of the decline and develop a plan to turn things around.
  • Customer Complaints: Are you receiving a lot of complaints from customers? This could indicate that your products or services aren’t meeting their needs. Research can help you understand what’s causing the complaints and how to address them.
  • Lack of Customer Engagement: If your customers aren’t engaging with your brand or products, it may be time to conduct research to understand why. This can help you develop more effective marketing campaigns that resonate with your target audience.
  • New Competitors: If new competitors have entered the market and are gaining market share, it’s important to conduct research to understand what they’re doing differently and how you can stay ahead.

Changing Market Conditions: Markets constantly evolve; what worked yesterday may not work today. Conducting research can help you stay up-to-date on changing market conditions and adjust your strategy accordingly.

Steps to Take Before Conducting Research

Before conducting any research, you must take some preparatory steps to ensure you’re clear on what you want to achieve. Here are some steps to consider:

  1. Define the Problem: The first step is to define the problem you’re trying to solve. What questions do you need answers to? What insights are you hoping to gain? It’s essential to be clear on the problem before embarking on any research.
  2. Set Research Objectives: Once you’ve defined the problem, you must set research objectives to help you achieve your goal. These objectives should be specific, measurable, achievable, relevant, and time-bound (SMART). For example, if you’re trying to understand why sales have declined, your research objective might be to identify the key factors contributing to the decline.
  3. Identify the Target Audience: Next, you must identify your research’s target audience. Who are you trying to reach? What characteristics do they have? It’s essential to define your target audience so that you can design research that will yield meaningful insights.
  4. Choose the Right Research Methodology: There are many different research methodologies available, such as surveys, focus groups, interviews, and observational research. Each method has pros and cons; the right choice will depend on your research objectives and target audience. Choosing the right methodology ensures you get the insights you need.
  5. Develop the Research Instrument: Once you’ve chosen your methodology, you need to develop the research instrument – the tool you’ll use to collect data. This might be a survey questionnaire, a discussion guide for a focus group, or an interview protocol. It’s important to design the research instrument carefully to ensure you collect high-quality data.
beverage-trends

Crafting the Right Research Question

Once you’ve defined the problem, set research objectives, identified the target audience, and chosen the right research methodology, the next step is to craft the right research question. The research question should be clear, concise, and focused on the problem you’re trying to solve. In addition, you can develop supplemental questions to provide more context and depth around the issue. Here are some tips for crafting the right research question and creating additional questions:

  1. Start with a Broad Question: Begin by crafting a broad research question that captures the main issue you’re trying to address. For example, if you’re trying to understand why sales have declined, your general research question might be, “What factors are contributing to the decline in sales?”
  2. Narrow the Question: Once you have a broad research question, you need to narrow it down to something more specific. This will help you focus your research and ensure you’re collecting the correct data. For example, you might narrow your research question to “What are the key drivers of customer churn?”
  3. Make the Question Measurable: It’s important to make your research question measurable so that you can collect data that will help you answer it. For example, you might ask, “What percentage of customers who churn cite price as a factor?”
  4. Ensure the Question is Relevant: The research question should be relevant to the problem you’re trying to solve and the research objectives you’ve set. Ensure that the question will yield insights to help you make informed decisions.
  5. Keep the Question Simple: Keep the research question simple and easy to understand. This will help ensure that participants can answer it accurately and that you can analyse the data effectively. Let’s say you’re conducting research to understand why customers are not using a new feature on your product. Instead of asking a complex question like, “How do you feel about the usability of the new feature compared to previous versions of the product?” which may confuse participants, consider asking a simple and direct question like “Are you currently using the new feature?” This question is easy to understand and can be answered with a simple “yes” or “no,” making it easier for participants to answer accurately and for you to analyse the data effectively. 
  6. Develop Supplemental Questions: Once you have the key question, develop supplemental questions that provide more context and depth around the issue. These questions should help you understand the nuances of the problem and provide a more comprehensive view of the issue. For example, suppose you’re trying to understand why sales have declined. In that case, you might develop supplemental questions such as “How has customer sentiment changed over time?” or “What are customers saying about our competitors?”

Conducting the Research

Once you’ve defined the problem, set research objectives, identified the target audience, chosen the right research methodology, and crafted the right research questions, it’s time to conduct the research. Here are some tips for conducting the research effectively:

  1. Recruit Participants: Depending on your research methodology, you’ll need to recruit participants who fit your target audience. This might involve contacting customers via email, social media, or in-person events. Make sure to screen participants carefully to ensure they meet your established criteria.
  2. Structure the Research: Once you’ve recruited participants, you must structure the research to yield meaningful insights. For example, if you’re conducting a focus group, you might structure the discussion around key topics or questions. If you’re conducting a survey, you must design the questionnaire carefully to ensure you’re collecting the data you need.
  3. Collect Data: The next step is to collect the data. This might involve recording the discussion in a focus group, administering a survey online or in-person, or conducting interviews. Make sure to collect the data in a way that is consistent with the research methodology you’ve chosen.
  4. Analyse the Data: Once you’ve collected the data, you must identify patterns and insights. This might involve coding the data, running statistical analyses, or using qualitative analysis techniques. Analyse the data rigorously to ensure the insights are accurate and meaningful.
  5. Draw Conclusions: Finally, use the insights you’ve gained from the research to draw conclusions and inform your marketing strategy. What did you learn from the study? How can you use these insights to address the problem you identified at the beginning of the research process?
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Interpreting the Results

Once you’ve researched and analysed the data, it’s time to interpret the results and use them to inform your marketing strategy. Here are some tips for interpreting the results effectively:

  1. Look for Patterns: As you review the data, look for emerging patterns and trends. Are there any common themes or issues that participants identified? What insights can you gain from the data?
  2. Compare Results: If you conducted multiple research methods, compare the results to determine any consistencies or discrepancies. This can help you triangulate the data and ensure accurate insights.
  3. Consider the Context: When interpreting the results, it’s essential to consider the context in which the research was conducted. What external factors might be impacting the results? How do the results align with what you know about the market and your target audience?
  4. Draw Meaningful Conclusions: Based on the insights you’ve gained from the research, draw meaningful conclusions that will inform your marketing strategy. What changes do you need to make to your strategy? What opportunities can you pursue based on the insights?
  5. Communicate the Results: Finally, communicate the research results to your organisation’s stakeholders. This might include senior leadership, sales teams, or product development teams. Communicate the results clearly and effectively, and emphasise how they can be used to drive business growth.

Key Takeaways

The marketer’s dilemma of knowing when to conduct research and how to do it right is a challenge many marketers and product marketing managers face

However, by following best practices and taking a structured research approach, you can gather valuable insights into your target audience and use these insights to inform your marketing strategy.

  • Defining the problem is the first step in conducting research, followed by setting research objectives, identifying the target audience, choosing the correct methodology, and crafting the right research question.
  • Signs that indicate it’s time to conduct research include declining sales, customer complaints, lack of customer engagement, new competitors, and changing market conditions.
  • Conducting research involves recruiting participants, structuring the research, collecting data, analyzing the data, and drawing conclusions.
  • Interpreting the results involves looking for patterns, comparing results, considering the context, drawing meaningful conclusions, and communicating the results to stakeholders.
  • By taking a strategic approach to research and using the insights gained to inform your marketing strategy, you can develop compelling campaigns, stay ahead of the competition, and drive business growth.

No matter your experience level, prioritising research and using it to inform your marketing strategy is crucial for driving business growth. Following the steps outlined in this article, you can conduct research that yields valuable insights and helps you make informed decisions. 

If you’re ready to take the next step and conduct a research project, consider working with a trusted partner like Kadence International. With 30 years of expertise and offices in 10 countries, Kadence is a leading and award-winning market research firm that can help you conduct research that delivers actionable insights. Contact us to learn more and get started on your next research project.

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