Market Research – Your Roadmap for Success

What exactly is market research? Why is this powerful tool important for your business? Market research provides valuable insights on what people will buy, why they’ll buy it, and how to incite them to buy. It’s also used to answer the age-old question, why do your customers choose YOU? In this blog, I’ll highlight why market research is so critical to your business, as well as provide you with key reasons why you’ll need to hire a professional marketing agency for unbiased research.

Why conduct market research?

Market research sets your company up for success by providing the information that you need to make informed business decisions. Experience alone is not enough; arm yourself with research and facts to understand your market and your customers. Market research can help you:

  • Understand your customers and their preferences
  • Identify potential issues you may not be aware of
  • Understand how your customers define your brand
  • Identify ways they value the services/products you provide
  • Learn how your customers compare you with your competitors
  • Test new products/services and/or new markets
  • Gauge the success of a new advertising campaign
  • Identify performance, pricing and/or promotion opportunities
  • Monitor the competition in your market
  • Keep up with the changing marketplace and economy
  • Mitigate risk in your business decisions

Market research methods

When conducting market research, there are basically two types of methodologies:

  1. Qualitative researchis information that comes from conducting deep “quality” research through the use of discussion guides, and is typically gathered via phone interviews, face-to-face interviews, or focus groups. Questions are typically developed by use of a discussion guide outlining issues or concerns you’d like your customers to weigh in on. The answers can help you understand why they chose your company to work with, what they value in your service/product, what they think of your brand, and how they respond to your marketing/advertising. This type of research is best used when you want to understand the needs of your customer so you can better target your marketing and messaging to their needs and values.
  2. Quantitative research is usually numeric, and done through a survey. It is far less detailed and there is no discussion with actual customers. It involves sending out a survey to customers and gathering statistical information, which can then be extrapolated to give you averages and percentages, e.g. 9 out of 10 customers are satisfied with your level of customer service. This type of research is best used for measuring customer feedback on an ad or a new service, or the launch of a new offering.

What unbiased research means

Almost every business owner I know says that they know their customers, that they speak to them on a regular basis and if there was a problem, their customers would tell them. Sorry to say, but this is rarely the case. Just like we don’t tell the server that the food was really bad, our customers may very well give us a truthful answer, but more likely they will give us a version of the truth. When a third party speaks with your customers, they feel this is their opportunity to really share the “truth” without hurting any feelings. If you are asking your customers directly then this is 100% biased research and is considered invalid because you have a vested interest in them being satisfied customers. Unbiased research doesn’t allow opinions, nor preconceived notions or preferences to affect the research. It is conducted with an entirely open mind and not biased in any way towards a desired outcome.

Market research benefits to your business

We’ve been conducting market research for almost two decades and I know how it can positively impact a business by providing actionable insights that can act as a catalyst for organizational growth. These insights will equip you for better decision-making and provide you with a greater understanding of customers, and competitors. Market research can help you to maximize the potential of your current business activities and create a roadmap for targeted marketing strategies and future growth. Every business, large or small, can benefit from having market research in their arsenal. 

Use a professional agency to conduct market research for your company

Market research is not a DYI project. It’s very time consuming and requires trained and skilled resources to perform, analyze and deliver results without any research bias. Set your business up for success and hire a professional marketing agency with proven processes, resources and analytics to maximize the potential of your market research.

CreativeWorks Marketing will work with you as a trusted partner in achieving your business goals. As a first step, we’ll establish clearly defined goals for market research in addition to determining what you need to know and why. We’ll perform, analyze and deliver results of the highest quality and keep the data confidential. Contact us today and let’s discuss how market research can benefit your company.

Earth Day – 4 Key Elements of a Cause Marketing Campaign

Cause marketing refers to the alignment of a brand with a cause that produces profitable and societal benefits for both. Today, consumers want to know what your company stands for and what you’re doing to make the world a better place. As a result, for many brands, cause marketing is now becoming the norm rather than the exception. You may be surprised to learn that cause marketing was first introduced in 1976. The two trail blazers involved were the Marriott Corporation and the March of Dimes. They worked together to promote the Marriott’s family entertainment complex in Santa Clara, California while raising funds for the March of Dimes. The campaign was a success for both parties and cause marketing was born.

In celebration of Earth Day this April 22nd, I’d like to encourage you to consider launching cause marketing campaign this year, and I’ve outlined the four key elements of one for you to consider:

  1. Simple, inspiring message: What you call your campaign matters. It should be simple, descriptive of your initiative and inspire you to want to participate. Motorcycle manufacturer Harley Davidson teamed up with the environmental organization The Nature Conservancy with its cause marketing campaign “Renew the Ride”. This campaign was designed to mobilize Harley Davidson’s global community of riders to raise funds for the planting of 50 million trees worldwide by 2025 so that the open road can be preserved for future generations of riders.
  1. Visual storytelling: Studies show that people read only about 20% of today’s web pages and are driven more by an image or short video than they are by anything else. Coke and the World Wildlife Fund (WWF) teamed up to support the conservation of polar bears with their Arctic Home campaign. Who among you hasn’t been moved by the wonderful video spots that Coke and the WWF have created about polar bears? Those videos move us more than any written story could.
  1. Social sharing, ‘earnedmedia: The most effective cause marketing campaigns develop multiple media designed to maximize the effectiveness of each channel. Dell is doing a great job inspiring people to care more about the health of our oceans and marine wildlife through its support of actor Adrian Grenier’s the Lonely Whale Foundation. The campaign has gained great momentum thanks to Instagram, YouTube and other social media platforms. And, Coke and the WWF used the web, apps, social media, text messaging and other technology to drive brand awareness for the Arctic Home campaign.
  1. Big world issues, small personal action: While most cause marketing campaigns are calling people’s attention to a big issue, they need to inspire them to take a small personal action. Habitat for Humanity is working towards a world where everyone has a safe and decent place to live. They teamed up with Home Depot. As part of an employee engagement campaign, Home Depot employees can volunteer to work on a Habitat for Humanity project while being paid by Home Depot. This small personal action of volunteering makes a big difference in improving big world issues.

I believe cause marketing has many benefits for your business including positioning your brand to stand out from the rest while at the same time helping a cause and ‘doing the right thing’.

Is cause marketing important to a brand? 87% of consumers would switch from one brand to another if the other brand was associated with a good cause, according to a Cone Cause Evolution Survey. Is a cause marketing campaign right for your company and your brand? It’s certainly worth considering.

How To Make Podcasts Part of Your Winning Strategy

In my previous blog post, I went over some of the key advantages of using podcasts as part of your marketing mix. Now I’d like to share with you 5 tips on how to incorporate podcasts into your marketing strategy.

1) Understand Your Strategy

Before you dive in head first, take a minute to understand how podcasting will fit in with your overall marketing strategy. Podcasts are great when they are used in addition to your company’s already-established brand, but they may not be the best method to get a new company up and running.

2) Differentiate Yourself from the Noise

Let’s face it; there are a lot of podcasts out there. You may be wondering how you are going to stand out. My suggestion to you is to come up with unique and engaging information. Do you have an interesting angle on a certain topic? Do you know any industry thought leaders you could interview? Imagine the types of content that would keep you engaged, and deliver that to your listeners.

3) Provide Great Conversations

It’s all about the content you deliver, but we can’t forget about how you deliver that content. In my experience, using a conversational tone works much better than simply dumping information onto your listeners. Consider having two speakers on your podcast, and try drafting your script as a question-and-answer style. This will make your podcast more accessible to your listeners.

4) Use Your Resources

Podcasts are all about the audio, so when it comes to choosing the right recording equipment, it’s crucial you don’t cut any corners. I suggest investing in a high quality microphone, good audio software, and a headphone. As you can probably imagine, this can get a little pricey. It may be a good idea to evaluate whether you want to invest the money and energy in creating your own content, or outsource it.

5) Promote Your Content

Just because you’ve finished recording doesn’t mean the process is over! The last step in creating a podcast is sharing it with your audience. Promoting your content won’t take you too long, but it will make all the difference. Some great ways to promote your podcast include: encouraging subscriptions, sharing it on your social media channels, and promoting it through email marketing.

Podcasts really have become an invaluable tool for marketers. I encourage you to consider adding podcasts to your marketing mix – it may just be your business’s next big thing.

To find out more about how you can use podcasts in your marketing strategy, contact CreativeWorks Marketing today.

Podcasts – Digital Marketing’s New Best Friend

Although podcasts are not new, I’ve noticed a recent resurgence in their popularity that’s worth noting.

If you may recall, podcasts are digital media files that feature audio recordings, and originated in the early 2000’s, but it wasn’t until technology advanced and distribution methods expanded that podcasting exploded in popularity. In fact 2016 alone, there were an estimated 57 million monthly podcast listeners, a 75% increase since 2013.

Much like blogs, podcasts are used to deliver great content to your audience and have become a key tool in many company’s content marketing strategy. You may be thinking, “why use a podcast when I already have a blog?” Well, let me explain a few of the key advantages that podcasts offer:

Attract New Audiences: Some people prefer to consume their content through listening rather than reading text. By adding podcasts to your marketing mix, you are pulling in a new demographic and gaining more leads.

Multitasking Capabilities: One of the biggest advantages of podcasts is that they can be listened to on-the-go and while doing other tasks. This is great for your brand, as it means your message will reach your audience more frequently during the day.

Hidden Advertising: The casual, conversational nature of podcasts allows you to include a few “hidden” advertisements in the audio without it sounding too blatant. Advertising in your blog, on the other hand, tends to come across as too overtly promotional.

Brand Loyalty: Think about your favourite radio show you tune in to in the morning. Does it keep you hooked? Well, podcasts are very similar. When you offer engaging content, you’ll begin to create a following. And when you create a following, you’ll develop brand advocates for your business.

Stay tuned for my next blog, which will outline some tips you might want to consider when incorporating podcasts into your marketing mix.

Trade Show Strategy – Tips on How to Make Your Next Trade Show Attendance a Success

Trade shows – no matter how you feel about them, they are here to stay. While we traditionally think of trade shows from an exhibitor’s viewpoint, with increasing costs and resources required, many small businesses choose to “walk” a trade show rather than exhibit at one.

If you plan on attending a trade show for business development reasons, you’ll need a trade show strategy and I’ve outlined below my tips on how to get the most from attending a trade show.

Set Goals
Make a list of the goals you want to achieve by visiting the show. This may include a list of ‘must see’ booths and ‘want to see’ booths as well as how many leads you want to achieve. Consider your internal resources when determining the number of leads to make sure you can follow up on the number of leads you may get.

Do Your Research
Spend time researching all of the ‘must see’ booths, so that you’ll have a clear idea of who you need to see, and what you need to learn about them. Contact the company prior to the event to find out if the person you want to speak to e.g. the Director of Purchasing, is going to be attending the show. If they are attending, set up an appointment with them at the show, and if they are not attending, leave your personalized sales package addressed to them at the booth.

Assess Time Commitment
Decide how much time you want to spend at the show, and then allot an appropriate amount to each booth, making sure to schedule the ‘must see’ booths first.  It is always a good idea to get a map of the show floor and prioritize your route prior to getting to the show. Weave into this any appointments your have made with those exhibitors you planned to meet with. If co-workers are attending the show with you, divide your targeted list into sections.

Take Notes
When talking to or meeting with a potential prospect, just like you would in a business meeting, take as many notes as you can. Sometimes this is not possible if you are standing at a booth, so feel free to record the conversation, with their permission, or make it a practice to quickly make note of the key points that were discussed for your later reference.

Gather Competitor Intel
Trade shows are the ideal opportunity to gather information about what your competitors are doing. It’s often the first glimpse you’ll get of new product releases, special programs, or fresh marketing initiatives. Pick up a few examples of their marketing collateral from their booths, and ask them a few carefully-worded questions about technical specs.

Organize Your Information
Depending on how long the conference is, you may need to sort your information at the end of each day. You might want to create a spreadsheet template for this information and then simple plug in the information based on each tab. For example, name of the lead, person you spoke with, their title, their email, and key products/services they might be interested in. You will also need a tab for a few personal notes to help jog your memory after you’ve returned from the show as well as a call to action e.g. call when you return back to the office or email them a sales sheet on one of your products/services.

Also, take a moment at the end of the day to track any information on your competitors, including exhibits or displays that you thought were particularly effective. Create a spreadsheet of what you thought was effective, and any marketing approaches you felt stood out e.g. videos, brochures, trade show imagery, etc. Make note of any that you might consider implementing in your own company’s marketing.

There is no doubt about it, having a clear plan of action will make sure that the time you spend at the show is a worthwhile investment.

If you are exhibiting at a trade show, read my blog on trade show strategy for an exhibitor.

The Missing “Link”

LinkedIn is one of my favourite social media platforms to use. Like many of you, I use it to conduct business development activities, discover potential new talent, and find out what some of my peers are working on. As a business owner and marketer, I also use it as a platform to target my potential clients and “tout” my expertise through the sharing of my company’s updates as well as industry-related articles.

LinkedIn has two distinct options: the LinkedIn profile page which most of us have to showcase our personal “resumes”, and the company page that is set up for your company.

While I know many business owners and marketers have an LI profile, many small businesses still do not have a company LI page. So what exactly is the difference between a profile page and a company page on LinkedIn? A LinkedIn profile is probably the most powerful tool you can use for business development as it allows you to highlight your professional experience, connect with your peers or potential clients, join industry-related groups, post your blogs or other articles, and share awards and updates.

I have seen many companies use the profile page as their company page, but LinkedIn has a distinct company page that provides your business with the opportunity to engage with followers with targeted and regular news and activities, share career opportunities, and expand your online brand presence.

If you are a business owner or marketer with a B2B business, an LI company page is a must! If you have a B2C business, it is still a good idea to have some presence on this platform, as this platform is great for SEO and for expanding your reach to influencers.

Here are some reasons I‘d recommend considering using an LI company page for your business:

1. Show How You are Unique

In the description on your company page, emphasize how you stand out from your competitors. You might want to include company news and share information about your company culture. This will help you reach potential customers and also new hires. Support the content with professional videos, or images to help you show how your company is different.

2. Improve SEO

We all hear about SEO, but did you know that Google and other search engines rank LinkedIn company pages and posts highly in the search engine results pages? Having the page and posting on it frequently will help you increase your SEO and increase site traffic.

3. Share Content

It makes sense that you need to write posts that your viewers want to see and share with others. The more you can engage your viewers, the more likely you are to expand your global reach and influence. You can also link your post back to your website for more information and to convert them into a warm business lead. It’s a good idea to create a media mix on this platform as well, so consider using different formats such as SlideShare business presentations, blog posts, infographics, webinars, podcasts and videos.

4. Measure Success

Like most social platforms, you can view analytical data about your company page to help you gain deeper insights into your page performance.

Having a LinkedIn company page will help you network and prospect to a targeted audience for quality sales leads, while establishing your business’ public image on a global scale as a reputable and trustworthy organization. In my opinion, it’s a no-brainer!

Lately, We Just Don’t Communicate

Imagine your business is about to launch a new campaign. You are sending out an e-blast to give your customers 20% off their next purchase. You’re confident this will be one of your company’s most successful ventures to date. On the day of the launch, your office is flooded with emails and phone calls regarding your new offering, and while you’re ecstatic, your team is frantic. But why?

While your campaign was crafted to a tee, the internal communications to your staff informing them of the upcoming campaign and its details were non-existent.

There are two sides to any marketing campaign. External marketing allows you to get your message across to your intended audience, and internal marketing allows you to effectively market your campaign within your organization. In order for any marketing campaign to be successful, you need to create a plan for both.

We all know that running a new campaign can be time-consuming and we get wrapped up in the details and often don’t take the time to keep our staff up to date. In order to ensure a successful campaign however, you’ll need to bring your staff up to speed so they know how they are impacted and what, if anything, they need to do.

Here are a few key tips on how to effectively prepare your staff for an upcoming marketing campaign:

Give Advanced Notice

After working with your marketing team to develop a new idea for a campaign, share it with your staff. If a new campaign is being implemented without staff members knowing all the details, it’s easy to get the message confused. Sharing your ideas for the new campaign will allow staff to prepare, and will also encourage them to contribute their own thoughts and ideas towards the new campaign.

Provide Supporting Materials

After giving your team the heads up about the new campaign, it’s time to get ready to launch. Depending on what kind of campaign it is, you will need to provide your team with supporting materials that will allow them to carry it out as you had intended. For example, if you are promoting a new service for your clients and they are encouraged to call in and inquire about it, prepare a script for your front line staff. If calls should be directed to your sales department, then the person answering the phone needs to know where to direct the call. The more informed they are, the increase in likelihood of a successful campaign.

Measurement Matters

It’s one thing to let your staff know about a new campaign; you also need to follow through with them about it. Ask them how the campaign is going; are they getting a lot of calls/emails/website requests? If your team is dealing with customers directly, you need to communicate with them effectively so you can measure the success of your new campaign.

Share Success

Your campaign has just ended and of course, it was a hit! Share this success with your team. Not only will sharing the success encourage your employees, it will also give you a chance to evaluate what went well, and discuss how you can create an even stronger campaign the next time around.

In order to effectively market any campaign to your customers, you need to be prepared to market it internally as well. Keep your staff in the loop when launching your next campaign; you’ll be surprised at the difference it makes.