One of the key fundamentals needed to develop a successful marketing campaign is having a thorough understanding of a brand’s main needs, objectives, audiences, and competitors. The execution will be better in many aspects if the research is better.
Market research is a procedure that takes time to complete. However, it is what helps reduce risks. According to Ankit Gaba of Worify Media, marketers can manage to create the most successful campaigns and steer clear of disappointing failure by conducting enough market research.
“Marketing without any proper research is just chaos and putting your money into nothing” says Gaba, adding further that “a thorough research and analysis must be conducted before any marketing campaign if you want the best results”.
Worify Media has created tons of successful marketing campaigns which have reached millions of people. Gaba is of the opinion that effective promotion goes a long way to make the right amount of noise and make even average products or services successful. As he recently remarked, speaking to the media:
“a product inferior in quality can easily push better results than a product which is superior with better marketing which has been proved many times now in nearly every entertainment industry”.
However, he feels that the marketing tactics should be apt, and relevant to the products or services being promoted. He says that generally, it can seem like a waste of time to research about competition and business owners would rather like to use that time to build their own brand. However, understanding what competitors are saying and doing is a crucial component of the puzzle.
Business owners can get an advantage if they know what their audience thinks and dislikes about the products and services of their competitors, and what they should avoid doing or try to imitate in order to avoid failure and become successful. Additionally, research also helps reveal what competitors lack that the audience wants, and discover a method to provide it – whatever it may be.
The roadmap to success includes research about competitors, and business owners must try to use them to their advantage rather than seeing them as a drawback. A brand must be able to keep up with trends in order to maintain and even expand its successes, whether those trends are subtle shifts or major ones. While these tendencies cannot always be predicted, they can be foreseen nevertheless. However, brands need to be flexible. Business owners can get a head start if they conduct adequate market research.
While budget is important, Gaba holds that investing big money into marketing is not mandatory, and what is more important is the research part. “A low budget marketing campaign with proper research can put out better results than a marketing campaign with a higher budget and not enough research” according to him. His colleagues at Worify Media second his opinion.
As Ankit Gaba says, marketers must make sure that their research work is complete before sharing their next brilliant idea with the world. They can have much better chances of making their ideas a reality when they manage to do it correctly.