Have you ever attempted to sew a garment without a pattern? You might end up with something wearable, but chances are it will be ill-fitting, uncomfortable and ultimately, a waste of time and fabric.
It can be difficult to quantify the impact of marketing research on revenue. While the work informs strategy, companies often struggle to tie it directly to profitability. Consider the impact of time and effort wasted on poorly planned marketing campaigns, however, and its value becomes clear.
Investing in marketing efforts for business growth without first conducting marketing research is akin to sewing blindly—and it leads to the same poor results, as poor operational decisions (such as ill-informed marketing efforts) can cost businesses upwards of 3% of profits.
The marketing research process is like following a meticulously drafted sewing pattern: It conveys the method, measurements and materials needed to create something that fits perfectly. Like a good pattern guides you through each step, marketing research illuminates the path to success.
We’re breaking down why upfront marketing research is so crucial, stitch by stitch.
A pattern will tell you what type of fabric is best suited for the garment. Similarly, marketing research provides insight into how your company presents itself. How can you stand out from others in your space? What personality fits you best? These characteristics are important to a solid brand strategy.
Addressing these questions can help your brand cut through the noise:
A pattern includes precise measurements to ensure a proper fit. A deep-dive channel audit gives you a clear picture of your marketing’s current performance, provides data on your competition, flags potential issues and highlights potential opportunities.
Just like ripping out seams due to inaccurate measurements can set a sewing project back, correcting strategic mistakes later in the process is expensive and time-consuming. Upfront research minimizes the risk of costly errors with your marketing efforts down the road.
Keep from getting tangled in assumptions with these data-driven questions:
Even with solid measurements, your garment won’t fit well if the seams aren’t straight. Understanding your audience provides a connective thread to join your brand with your marketing efforts. Primary research and third-party data help you grasp your target audience’s needs, preferences, pain points and behaviors. That way, when choosing a platform to share your message, you know you’re reaching and resonating with the right people.
Don’t be hemmed in by your current audience knowledge—explore these questions:
Creating a mockup from a pattern allows you to fine-tune its instructions for your unique body. Research can tell you where your audience spends their time, what messages resonate with them and the best channels for reaching them, but that knowledge isn’t useful if it’s sitting static—it must be put to work.
Ask these questions to tailor your strategy to fit your unique situation and goals:
Just as a well-crafted garment relies on a precise pattern and careful stitching, a successful business hinges on thorough, upfront marketing research. It guides your strategy with essential insights into your brand’s core identity, competitive landscape, target audience and the effectiveness of your chosen channels. Skipping this crucial step risks a final product that doesn’t fit its intended audience and wastes valuable resources, requiring significant effort to correct.
Businesses that prioritize marketing research stitch together impactful campaigns, deliver messaging that resonates and achieve sustainable success. So, before you embark on your next marketing endeavor, remember the tailor’s wisdom: Measure twice, cut once, and let research be the guiding pattern for your business aspirations.
