Market research has been an integral part of business strategy during the last century. It remains relevant even today when customers and organizations increasingly prefer to communicate and interact in the digital space. As a matter of fact, market research has grown in importance in the digital age, as it contributessignificantly to the success of digital marketing campaigns. When digital marketing campaigns are powered by in-depth market research, it becomes easier to find the right target audience. Market research also helps build long-lasting relationships with customers through improved communications and interactions.
Leveraging bloggers and influencers: Market research can help identifyleading bloggers and influencers who could play a vital role in ensuring success of digital marketing campaigns. When bloggers and influencers talk about a brand or product, it creates more impact, as compared to posting something on the organization’swebsite or social media page. The perception of authenticity and trust is more when the majority of people are talking positive about a brand or product.Leveraging bloggers and influencers also has the multiplier effect, as each of these folks have their own fan following.
Understanding group dynamics: It’s fairly easy to identify an online forum or group that may be relevant to a particular brand or product. For example, if there’s a forum for electric cars, it would be appropriate for an electric car manufacturer. However, merelyidentifying a relevant group is not enough. One has to dig deeper through market research to find various other information such as what the group members like to talk about, what aretheir pain points and their wish list, their reviews and feedback about competitor’s product, etc.This information will help digital marketers to open appropriate communication channels with the group members.
Identifying preferred digital platforms: For paid campaigns to be successful, digital marketers have to find the preferred digital platform being used by customers. For example, some users may frequent popular news portals, whereas others may be active on twitter. The preference for a specific digital platform also reveals the level of trust that users associate with a particular digital platform. For example, some users tend to believe more in what’s posted on twitter and may discount things posted on Facebook. Similarly, other users may have differentbeliefs and perceptions. Market research can help pinpoint the digital platforms that are preferred by the majority of the target audience.
Market research can help digital marketers gain deep insights such as where the potential customers are, what they prefer, what they hate, what they think about competitor’s product, etc. This information can be used to create powerful digital marketing campaigns that will make it easier for organizations to achieve desired results.