Hand in hand: Market Research and Communication
As the industry evolves with the rise of digital tools and big data, habits are changing. It has become more and more essential for marketers and communicators to understand their clients, targets, markets, tools and even surroundings. Millennials are dominating this sphere and brands are working harder to understand their target markets.
In market research, you can receive insightful data that can be used to set your communication strategy. In the digital era we live in, it has become much easier to collect this data through online and mobile surveys, as well as panels, gauging consumer sentiment towards a product or campaign.
Market research is not only essential in the preparation and planning phase, but it is as important during and after kicking off communication. Whether online or offline, the assessment phase allows professionals to revisit strategies and identify loopholes in their work. It can be done through online surveys, focus groups and social media. The latter being the most cost-effective tool to gather insights.
Trinity Mirror, a newspaper publisher based in the UK, recently commissioned Ipsos Mori to conduct a study to identify the severity of the issue facing brands and advertising, what’s driving this growing feeling of distrust, and how brands and advertising can regain it. The study’s key findings were (Ref: www.ipsos.com):
1. Brands and advertising face challenging times ahead as 42% of people claim to distrust brands and 69% distrust advertising
2. Brands are seen to be part of the establishment, with 38% of people give brands a score of 7+ on a scale of 0-10 where 10 is ‘completely establishment’.
3. Brands are out of touch as people don’t perceive their own lives to be represented in advertising, particularly life outside of London.
4. Brands are undermining their own credibility – 58% of adults don’t trust a brand until they have seen ‘real world proof’ that they have kept their promises. 40% associate brands with being ‘pushy’ and 57% agree that brands should be more careful where they place their advertising.
The key learnings in this regard, as we saw with Trinity Mirror, is that a clear communication strategy with defined targets needs to be set, in order to perform better moving forward. Through this, publications will reach out to advertisers (clients in their case), brands, readers, and their internal team based on what they have learned about the behaviors of each category and from the perception of the general public. In this case, they will cater to each one of these categories in a more direct and engaging way.