Marketing Research Done Right – Getting to Know Your Audience

audience

When you are thinking of conducting market research for your company, it’s important to do it the right way. You may think back to the hours you spent on research projects in college and high school. In my youth, I thought I would never use that stuff again! However, the steps you took then will help you conduct successful market research now. Luckily, if you have social media outlets, some of this can be done yourself!

Follow the steps to get to know your audience in a whole new way.
*For the purposes of this blog post, pretend I am a women’s boutique owner in a college town. This is a completely hypothetical situation.

  • Step 1 – Identify a problem. Say that I end up putting a lot of things on sale at the end of each month and losing money.
    Example problem: Everything ends up on sale.
  • Step 2 – Choose your topic. You’re not trying to solve a problem here (though market research can have that positive side effect). Pick something general you want to find out about your market that may relate to your problem.
    Example topic: College students’ spending habits
  • Step 3 – Find basic information. While basic trends and common knowledge come from some parts of the truth, don’t simply rely on stereotypes; having a general understanding of your target audience is an essential foundation that will help you move into deeper subject matter. Wikipedia can be a good place to start for finding basic information.
    Example info: College students use Facebook a lot. Some students also have a lot of discretionary income from their parents, but most live on a budget.
  • Step 4 – Refine your topic. What is unique to your market but still relates to other markets? This part is where you narrow your search to make sure you actually get relevant information. You should also decide whether you want qualitative or quantitative information.
    Example: College students’ spending habits/budgets for clothes in Texas
  • Step 5 – Conduct research. Using relevant sources (i.e. sources with more credibility than Wikipedia) find information and studies on your refined topic. You can also do customer surveys through Facebook, conduct focus groups, etc. depending on if you want qualitative data. Make sure you are consistent in your research approach in whatever you decide. Take notes on your findings.
  • Step 6 – Summarize your findings.
    Example: Female college students spend 25% of their money on clothes. The average amount of extra money college students have is $500/month.
  • Step 7 – Apply and assess implications to your business.
    Example: Since most female college students are on a budget of some sort, it might be worth it to offer a wide variety of items that vary in price points. This would accommodate the needs of smaller and larger budgets.

We also found another great article that can be a vital resource for you in this process.

Remember: we’re here for all of your marketing needs. Contact us if you have any questions.


 

Founded in 1989 by Linda Freede, areas of expertise provided by LJF Marketing include public relations, graphic design, media planning, web page development, corporate branding, corporate specialty logo products and social media planning and support.

LJF Marketing provides full-service marketing communications support, serving local, national and international clients within a variety of industries. For more information, visit www.ljfmarketing.com or call 281-367-3922

In House Vs. Agency Marketing – Which one is for you?

flat lay photography of macbook pro beside paper

Photo by rawpixel.com on Pexels.com

So your business has grown (or you’re just now starting!) and you’re in decision mode: In-House marketing or partnering with an agency/firm?

There are many positive factors to both. In-house marketing involves people who work directly for and exclusively with your company. It may consist of one person, or even a team that your company hires. As for an agency, they have specific expert employees who each usually specialize in different areas – public relations, digital marketing, graphic design, etc.

Both have qualities that can be very beneficial to your business. Here are some criteria that will help you choose which one might work the best for you.

Let’s look at their skillsets.

In-house marketing employees are paid to work for your business only. They understand your brand through and through due to direct training and are handpicked by your company. However, it’s difficult to find an in-house marketing person who is adept at all aspects of marketing.

Agency-wise, first you research and ask for referrals. They then need to be introduced to your business and brand and make sure they are the correct fit. For agencies, there are usually a good amount of multi-skilled employees who have worked in their respective fields, allowing for more diverse skillsets.

If only one marketing aspect needs to be managed, consider an in-house marketing team for your business. But for a company who plans on expanding or growing, marketing in only one aspect is rare so an agency might be a better fit.

Next, let’s look at the two from a creative perspective.

Some consider creativity to be in-house marketing’s downfall. There tends to be less creativity in a team that solely works for you and your brand. However in-house marketers do have a great understanding of how to combat your direct competitors.

As for an agency, they work with multiple clients that could be in very diverse areas. There is a lot of change and diversity creativity-wise that they have to produce. This exposure to different ideas can help generate creative ideas for your business.

Both can be useful for your business. If you find that your in-house team is in a rut, choose an agency. If you feel that you are confident in your in-house team, keep them on the project.

Then, let’s look at cost.

In-house marketing consists of marketing management that you hire. For example, consider the cost of salary when hiring one manager, or multiple marketing specialists full time. The cost of each campaign will depend entirely on your marketing needs. Crunch your numbers before making a decision.

It may seem less expensive to hire a single, on-hand employee for your marketing strategy, but expect a long hiring process, training, and guaranteeing that a person fits properly over a set period of time. Aside from salary, you will be budgeting for office space, benefits, computers, and programs they may need as well as training for those programs.

A marketing agency has a pre-set, and negotiable price in place when it comes to your campaigns. An agency pays for its own software, tools, tech, and training, which cuts any extra costs on your end. It may seem like more up front, but it might be less expensive for your business in the long run.

So which to choose?

Break down your goals and your needs to help you figure out whether to go with in-house marketing or a marketing agency.

If you’re still unsure about which path to take or just have questions about marketing agencies in general, ask us here at LJF Marketing! We have been serving our community for 30 years and are professionals when it comes to PR, Marketing, Advertising, Design, and more.

LJF Marketing is a full-service marketing communications company that is fully equipped since 1989 to help you create and enhance your company image. Through innovative marketing strategies, graphics, web development and advertising campaigns, your company can grow to exceed your ambitions.

 

Allow LJF Marketing to conceptualize IDEAS for your campaign. It’s our business to grow your business and we love what we do!

 

Trade Show Spotlight

Trade shows and special events can seem daunting when it comes to making your brand stand out on social media; while you want to spark buzz, you also want your audience to be engaged in your message. Here’s a few ideas to help you do both with social media.

Facebook

  • Use Facebook’s events capability.
    Create an event on Facebook for your tradeshow event, and invite people to come to the event. Post the event page on your other social media outlets to reach out to others who aren’t necessarily your Facebook friends. Here, you can post updates and news about the event in one central place.

Twitter

  • Claim a hashtag – and use it – months before the event.
    If you don’t know what a hashtag is, it is a pound sign before a word that you want to tag. Example: LJF marketing is #awesome. – Twitter makes a link out of the word “#awesome” that users can click on. When they click on that link, or tag, Twitter filters all other tweets with the same tag in it, so if you create a hashtag specific to your event and use it, then anyone who is interested can get all of the tweets from your event and see what the buzz is about. For a tutorial on how to use a hashtag, click here. The nice thing about this is that you can send out updates that aren’t limited to an event page or website, and so can other people. Additionally, people can provide some commentary on a presentation – to many, it has become socially acceptable to tweet during a presentation, so leverage that.
  • Have Twitter contests during the event.
    Most likely, there is something you can give away at your event that people will be interested in winning. Use Twitter to start a contest for it… perhaps the most tweets wins, or the best picture wins. The contest can be whatever you want it to be, but the important thing is that it gets people excited about something.
  • Post pictures during the event.
    This is a fun, interactive tool. Post pictures of happenings at the event, before the event, and after. Make sure you use the event hashtag; if you do, people who have come to the event essentially have a photo album of wonderful memories.

LinkedIn

  • Post articles about some of the companies or speakers at the event.
    You can do this for sponsors, or if there are no sponsors, pick a few businesses to highlight a week (if you’re not picking sponsors, make sure you highlight everyone; you wouldn’t want to upset businesses that are paying to be there by not giving them the same amount of publicity.
  • Post industry-related articles.
    Maybe there’s an online journal you are subscribed to and you see an interesting piece. Post it for others to see on your Linkedin if it relates to the event. This will provide a humanistic touch and boost your credibility as an event.

Foursquare

  • Make your booth into a location and give a special offer when people check in.
    This can be a percentage off your service, or even a free consultation. Just provide an incentive for event-goers to visit your booth rather than others.