The benefits of market research are long proven. Yet still, there are many who focus on instinct instead of insight.
While intuition is all good and well, there’s no getting away from the power of cold-hard data.
In this post, I list 11 market research benefits, with real-world examples and six free research templates thrown in for good measure.
Winston Churchill Quote
Better communications with customers
Why it matters: Effective communication is the cornerstone of good relations. And, with how much time, effort, and money it takes to win a new client, ensuring you stay in their good books isn’t just nice – it’s a necessity.
The first benefit of market research is the ability to learn about Payroll Directors Email Lists your customer’s likes and dislikes – so you can adapt how you position the business and its products accordingly. Tailored communications speak to customers in a way that resonates far better than generalized messages.
The One-Size-Fits-All Approach No Longer Works
Delivering comms in the right format, at the right time, via the right platform can boost engagement and help focus on driving value. With it, customers feel appreciated and receive information that’s both useful and relevant.
These days, all it takes is a quick click, and customers can unsubscribe from communications. Which is why businesses must ensure every communication counts.
Example: Market research surveys are an ideal way to quickly CNB Directory understand how customers feel about your communications with them. Be direct, and ask them about the content, frequency, and formats they prefer.
If you want to establish the best time or day of the week to email, you can use your email campaign tracking data to show you the best and worst times, based on open rates, and click-through rates. Market research benefits all types and stages of business planning. It gives you the numbers and insights you need to make accurate forecasts. It can also impact key decisions that can help you develop and adapt your strategy.
