Conducting thorough research before embarking on marketing planning is a wise investment that can save thousands. While many small companies may not have the budget for extensive primary market research, other resources may exist to help them make the best marketing decisions for their organization.
Once you’ve defined your target audiences, determining how your product or service will best benefit them and the best ways to reach your audience will help you make efficient marketing decisions with less waste.
If you don’t have the budget for market research, find out if similar research has already been done. Many associations conduct consumer research on behalf of its members that may help. If your industry has an association, find out if they have such research available. Knowing why your audience wants your product or service will help you craft the correct messages to reach them.
Researching the correct channels in which to reach your audience is also important. A wide variety of marketing options exist. For example, if there are five trade magazines that target your clients, how do you choose in which to advertise? Your ad representatives should be able to provide you with circulation figures, and, sometimes, demographic breakdowns of their circulation to help you reach the most people within your budget.
And while social media is hot right now, you need to consider whether spending staff time updating pages is worth the effort. If you sell machine parts to factories, probably not. If you’re a nonprofit, a Facebook page might help you keep in touch with volunteers more readily.
Thorough research is vitally important to target your messages appropriately, choose the correct channels to reach your audience and make the best use of your precious marketing dollars. For more information, or research support, please contact me at randy@woottonmarketing.com or visit www.woottonmarketing.com.
Wootton Marketing Associates provides sales and marketing services using traditional and electronic solutions primarily for B2B organizations in Atlanta. Services include public relations, web technologies, social media marketing, lead generation, research and creative services.



