Are these challenges you also see?

The return-on-investment Market Research provides is sometimes undervalued.

A thorough market exploration enables organisations to improve and create the best versions of themselves.

Overlooking market research will stop you unlocking the treasures it reveals. Here are some examples :

Never Learning Your Competitive Advantages

Organisations that understand their strengths, capabilities and weaknesses are better prepared to make revenue-maximising, risk-mitigating business decisions. Research makes organisations self-aware, which is critical to formulating growth strategies.

High quality market intelligence allows businesses to maneuver operations to their competitive advantage. It highlights what activities or processes are currently working or at risk of not working and evaluates delivery against brand values, business vision and core KPI’s.

Research also identifies your competitors’ activities, those customers like and dislike and those that encourage loyalty. ?Understand where you are in comparison to your competitor set and where you can win market leadership. When using tools that support understanding of customer and market behaviour it aids growth of market share and furthering your competitive momentum.

Forgoing Customer-Centric Marketing Models

Research helps businesses know what resonates with their customers, which emotions communication drives, which services customers intuitively respond too, because they are drivers of relationship.

Through customer-centric research, companies can create new marketing and sales strategies, draft emotionally engaging advertisements and invest in improved customer-facing platforms and touch points.

Increasing Strategic and Operational Risk

Seeing the bumps along the planned journey before they happen enables organisations to be agile and create resilience to changes in the market. Conducting market research builds a foundation for business decisions and mitigates against failure.

Any business needs to have accurate insights to see what works and what doesn’t, both internally and externally, supported by this intelligence, they can hone processes and allocate resources to:

• Optimise budget and sales cycles
• Increase ROI
• Enhance product cycles
• Formulate product launch strategies

Without research it is not possible to make data driven enterprise decisions, using insight and data you can make informed decisions. You can justify decisions with confidence.

It is impossible to control all internal and external variables such as consumer expectations, employee loyalty, business environment, technology changes, competition, and general society. However, using high quality customer, employee, stakeholder, and market research businesses can monitor a dashboard and foresee changes.

Maru research tools and solutions enable research that looks further, through applying behavioural science (System 1) and traditional techniques we enable deeper insight and understanding that ensure resilience and agility.

If you would like to explore how we support high quality customer, employee, stakeholder, and market research, contact us on: