How to Use Market Research for Advertising

More frequently than not, companies will launch advertising campaigns before testing their marketing content. On the surface, forgoing market research to preserve budget may make sense, but only if the advertisement campaign proves to be effective. It is rare for a product to sell itself without any advertising involved.

Advertising a business or products can help establish your identity as a company, promote products, attract a new customer base, but more than anything, can boost your sales revenue. It is important to understand that advertising your product or business successfully is not a task that can be completed through speculation; it requires an extended market research process that should be conducted before rolling out any new advertising campaigns.

Target Audience

Recognizing the type of audience that your business or product will appeal to is the first step in creating a fruitful advertising strategy. In order for potential consumers to jump on board and actively consider a product or service, they need to relate to the quality and substance of an advertising message.

Establishing trust and creating a personal connection with consumers is key for an effective advertising campaign. For instance, let’s imagine that the goal is to sell a product to young business professionals. The advertising techniques used might involve digital or social media platforms and distribute a message that has and energetic and positive tone. In some scenarios the target audience may be more specific, so it is vital to take an extra step and gather data about your customers to best narrow the focus. One way to gather data is to conduct a quantitative survey that will help capture the information you need.

Media Consumption

In this day and age, there is an overwhelming amount of media sources! Typically, your target customers will have a specific media channel that they enjoy. For instance, some might regularly watch a specific television program or listen to a particular radio show on their morning commutes to work. Understanding these types of media consumption habits can help businesses place their advertisement within a proper media channel.

To best determine advertising strategies that will reach a particular consumer segment, business owners can utilize market research services for help. Professional market researchers apply a variety of techniques to effectively analyze consumer behavior that will result in creating behavioral profiles. Such profiles can help business owners tailor their marketing campaigns to the consumption habits of their target audience. To generate a database of media consumption habits, market researchers might use methods such as quantitative surveys, focus groups, or and questionnaire. The outcome of these type of data collection methods will provide insight into customer consumption patterns, and in turn identify the most budget friendly strategies for reaching a target audience.

Advertising Methods and Scheduling

Once there’s an allotted advertising budget and data has been collected on potential customers, the next step is to choose the most fitting and affordable advertising method. There are several advertising techniques that can be employed such as; TV, print ads, billboards, online ads, social media, radio, and direct mail. All forms of advertisement will have a cost associated and will require different strategies to ensure success. Continuous market research is a vital safeguard that will confirm the effectiveness of the chosen advertising.

In addition to deciding on the appropriate advertising method, it is also important to consider strategic scheduling when the campaign begins. Timing is critical for a prosperous campaign, especially during special times of the year such as holidays or sporting events. Themes are present in many advertising mediums throughout the year, and you want your product’s advertisement to fit. Preparing an appropriate advertising method and organizing the timetable of a campaign will help generate leads, new customers, and additional revenue.

The Takeaway

After considering all of the mentioned notions, it is important to keep in mind that a lucrative advertising campaign can truly ensure the triumph of product or service. Even though it may not seem necessary, it is fundamental to take the time to conduct market research and make the most out of your advertisement campaign. The results will only help drive your product or service forward in your industry.

 

ABOUT THE AUTHOR: Ariel Hagaman
I was born and raised in New Jersey, and currently work for AYTM as Director of Client Services. I am a graduate of the University of Phoenix, and have always found that I am at my best when working with people. My favorite past-times are reading, skiing, and yoga!