Most commonly, market research is viewed as a method to improve advertising and marketing initiatives and to develop products that are friendlier to specific markets. However, the true range of uses for market intelligence is much larger than most businesses think. The results of surveys and opinion polls can also be used to inform various company departments to support their diverse activities.
Moreover, advances in technology have brought about sophisticated do-it-yourself (DIY) research products, which means that businesses have more control over the costs, reach, and timing of research solutions. Those DIY offerings also deliver the advantage of instantaneous results that can be monitored in real time, offering a competitive edge when time is critically important.
The distinctive characteristics of DIY market research solutions give businesses an impressive ability to influence operations across multiple departments, especially in the following seven areas.
1. Language and Tone of Communications
In the many ways companies engage with their consumers, language plays a crucial role. Market intelligence can be especially useful in shaping the tone and content of marketing collateral and company communications to appeal to specific groups of consumers without being irrelevant or offensive.
Research can also help organizations working in highly sensitive capacities, such as hospices or charities for terminal illnesses. For example, gathering opinions from a panel of leukemia survivors can help the marketing department of a leukemia awareness organization to focus on the issues most important to patients and to employ appropriately sensitive, supportive, and inspiring language in its communications.
2. Media Buying and Placement
Market intelligence can be used to discover the best arenas in which to disseminate messaging and launch marketing campaigns. Insights into the minds and media habits of consumers can help create a strategy using the most appropriate venues for marketing, public relations, social media, search engine optimization, and other campaigns.