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Using Research to Increase Your Market

A recovering economy alters consumer behavior. As purchase habits change from wants to needs and back again, companies who do not shift their marketing approach to meet these new behaviors will experience even further sales declines when they could be increasing market share. Consumer research can be used to identify these behavior shifts so marketing efforts can talk more directly to consumers and actually grow sales.

John hAynes has built his reputation on his ability to maximize clients’ budgets to increase return on investment. As the architect of campaign strategy, John has helped PPBH clients achieve their communication and marketing goals for 30 years. John can be reached at jhaynes@ppbh.com.

- John hAynes, MANAGING PARTNER AND STRATEGIC PLANNING DIRECTOR

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Understanding research is key for growing market share and should be viewed as an investment rather than a cost. Marketing budgets go much further when they are directed at what is driving purchase decisions. As these purchase drivers switch from wants to needs and back again, the marketing approach must also shift.

ReseARch who is pURchAsing RAtheR thAn who is not Companies often want to know who is not purchasing their product or service and why. However, it is usually more beneficial to find out who is buying and why. Armed with this information, it is easy to reduce the cost of reaching your target (since you know exactly who they are) and to develop messaging that is persuasive enough to result in a sale (because you know what it is they want). This is what I call the “Suitcase Model.” It’s easier to pack when you know where you are going.

QUAlitAtive And QUAntitAtiveQualitative research is talking to a handful of individuals to understand beliefs, motivations, desires, ways of thinking and relevant words. It is beneficial for understanding why people do what they do and buy what they buy.

Quantitative research is used to statistically project your qualitative findings on a particular segment of the population.

• Focus groups and one-on-one interviews are popular for gathering qualitative information• Surveys conducted via telephone, online or through the mail work well for gathering quantifiable

information

they are most effective when used together rather than in silos.

Rely only on UnbiAsed ReseARch Clients often ask whether research can be completed in-house or if it is better to outsource. As research is only effective if it is accurate, our recommendation is typically that it should be outsourced. Clients tend to find what they want to find and hear what they want to hear when they conduct their own research. An outside source is able to listen objectively and gain the unbiased perspective that is critical to identify the nuances of purchasing motivations.

Finding the Right pARtneRWhen scouting for an agency or research firm, in addition to ensuring that they have experience conducting research studies, they should provide you with examples and references. Additional items to help get you to the right match:• Ensure your team will be involved in the process and not kept at arms length.• Define “deliverables” upfront - what type of report and marketing recommendations will be provided.• Can you work together? Are you seeing eye to eye on what’s to be accomplished?• Can the project be completed in a reasonable timeframe?

Timing is critical in gaining market share as the economy begins to recover, and research is a powerful tool for competitive advantage. During my career, research has proven time and again to improve sales increases in the short term and contribute to market share gains in the long run.

Penna Powers Brian Haynes is a fully-integrated Advertising, Public Relations, Interactive

and Public Involvement fi rm. For 27 years we’ve been renowned for solving problems

through smart, strategic thinking, powerful creative and appropriate media and marketing

tools, with an emphasis on strong, quantifi able results. And while all the awards are nice,

that’s not where we hang our hats. The only thing that really matters at the end of the day

is our clients’ success. Okay, that and our Emmy.®

If anything you’ve read here has sparked your interest, you should

give Chuck Penna a call. As the founder of PPBH, Chuck understands

that customer loyalty, sales and growth are the lifeblood of any

business. He can relate to the opportunities and challenges faced by

today’s company leaders and has always felt that the best person for

prospective clients to talk to was not a hired gun, but to a peer.

chUcK pennA, FOUNDING PARTNER, CEO

TO LEARN MORE, CALL CHUCK PENNA AT 801.487.4800

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