Ever think about how marketing research can help catapult into your dream job or move you higher in your organization? You probably haven’t, but, yes – marketing research and the data it yields can help you expand your role as a marketing leader through your contributions in finding new opportunities for your company.
So, what’s the sitch?
Marketing research is essential in identifying areas where your company may expand its reach, or even provide insight as to whether a product may be launched based on your audience’s response.
In my line of work in higher education, market research is important in determining the expectations of our constituents as it pertains to our service model, but also allows us to benchmark other institutions that are already engaging their audiences successfully, and allowing us to test those models within our key demographics.
How exactly do we determine how these implementations will affect our target audience? – We investigate statistics and industry reports that provide us with a clearer understanding of where we stand in various areas affecting our work.
In my industry, these can be enrollment numbers or demographics, such as gender and ethnicity. In the business industry, insights such as market size, competitors, market share data, key audience demographics, and even geographical location can give you an understanding of what similar brands are doing or look like and can help shape important business ideas.
Bop to the Top
The truth is, knowledge is power, and having a deeper understanding about where your company lies in relation to its competitors, will help you determine the appropriate strategy to improve your organizational plan and gain some well-earned props from your higher-ups.
So, when you’ve finally considered climbing the proverbial corporate ladder, consider how marketing research can take you there, and truly take you to the next level!
If you missed my last article and want to learn how to use A/B testing in your marketing research, then check this out!