The Value of Good Research and Insight

When embarking upon a research project, the number of sources, facts and figures that are available can seem daunting. But when approached comprehensively it can lead to well-informed direction and decisions. Working for a marketing company has opened my eyes to just how important research and insight is in all business and marketing decisions.

At University I developed a love-hate relationship with research, spending hours in the library reading through articles before I could begin writing all those essays. While it can be a lot of work, when you gather all the facts and find the valuable information to back up your arguments, it becomes a lot easier to form a more rounded and confident opinion. There is no point writing an essay when there is nothing to back up what you have to say, similarly in marketing it is pointless attempting to develop a strategy if you do not know essential information about the market, the customer and the competition.  

Since joining Genoa Black I have started to enjoy research more and if you know where to look you can find information that is relevant quickly and easily. It is then finding the key point from this information that will inform your next steps. By streamlining how you research it becomes much more effective and you can often be surprised at some of the facts that you find.

Recently I was conducting research for a business in the food and drink industry and I was surprised to find that some of my pre-conceived ideas about consumer behaviour in this sector were different to what the research suggested. The new information I gained then influenced the way I approached the client work and gave me insights into target customers and trends which I had not highlighted previously.

Everyone has their own personal opinions of how things should be done, and even if they are on the right track it is very important to back this up with solid fact. You cannot rely on your own perspective in marketing; seeing the bigger picture will allow you to understand the market and develop more effective strategies.

Research is not about reading hundreds of articles, it’s about knowing what key things you are looking for and picking out key data such as industry trends, information on competition, behaviours, demographics, and future insights. Armed with all this information you can identify new opportunities, reduce risks, and make well informed decisions.

Key learnings about conducting successful research projects include:

1. Having a clear idea of what you need to research so you don’t get overwhelmed with the amount of information out there

2. Picking out key points in a strong synopsis – streamline your research by deciding what is relevant

3. Use these facts and insights to support and inform your marketing decisions.

Genoa Black creates compelling marketing strategies for our customers based on strong insight and informed thinking. To find out more contact us at hello@genoablack.com