Pixbrand Team
Published: 21/10/2023
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Do you want to spend countless hours to find the right resources on marketing strategies for your brand? Every business wants to resonate with the targeted audience but rarely knows where to begin. Some of them might know the fact that they need a brand research agency , but finding the ideal one is a bit like trying to spot a rainbow on a cloudy day – challenging but oh-so-rewarding.
By leveraging the expertise, and innovative types of brand awareness research methodology, businesses can unlock the pool of endless possibilities to transform and to become the powerhouse of the industry.
Last year’s survey by Clutch claims that 55% of brands struggle to find the ideal research services providing agencies that meets their needs. 35% find it challenging to partner with an agency that holds the experience and expertise of their industry and for 28% of them find budget as the real obstacle.
Let’s move forward and explore the key factors all businesses should consider about when partnering with a such identity research company. Also, discover how this partnership can benefit your business and enhance your presence in the market.
1. The Crucial Role of a Brand Research Agency in Your Business’s Success
Today, in the customer-centric competitive business landscape, brand success hinges on its ability to resonate with its target audience. A brand awareness research agency is that unsung hero in the journey of your brand success by guiding you to craft effective strategies to stay relevant to your brand’s industry demographic. Know how the Pix Brand – reshapes the marketing landscape to drive huge success.
1. Data-Driven Decision Making
In this data-driven era, data-backed insights and brand research is the only gateway to reach this kind of information and support every successful marketing campaign. It helps you to navigate the complex behavior and preferences of customers.
When you are armed with such insights, crafting a successful marketing strategy is effortless. Today, branding is data-driven and not built on assumptions.
2. Stay Ahead of the Competitors
Businesses that are partnered with an ideal brand awareness research agency have a substantial competitive edge. It’s not limited to reacting to the competition, but proactively identifying the trends and emerging opportunities to uncover the market gaps.
Detecting the shifts in consumer sentiments and behavior is a type of intelligence that helps to make well-informed decisions after brand positioning market research to stay ahead of the competitors.
3. Building Brand Resilience
With such a fast-paced world, loyalty is rare. Brand strategy research is necessary to keep your brand value alive in the market by measuring customer sentiment. Today, it is more about understanding how your customers perceive your presence as the business.
Knowing the emotional connection of customers with your brand helps to ensure that it is relevant and resilient in the face of evolving consumer preferences. Loyal customers are the ones who keep your any product/service alive in the most challenging situation.
4. Maximizing ROI
Brand research is an investment that yields high returns by empowering you to allocate resources efficiently to ensure that all your marketing efforts deliver the best results. An agency who do brand positioning market research assists you in making the right investment in the most impactful strategies and tactics.
5. Selecting the Ideal Research Services for Your Business
When a multitude of agencies claim to offer the best services, finding an ideal one is necessary. The agency can provide invaluable insights, whether you are launching a new product, repositioning your identity, or want to gain a competitive edge.
Here are the factors that will help you find the ideal agency that can assist you with brand positioning market research.
1. Defining Your Research Goals
As a brand, firstly you should clearly understand your objectives. Are you looking to refine the brand strategy, understand consumer perceptions, or enhance its awareness? Businesses must have well-defined goals to find a brand strategy research agency that specializes in their areas of interest.
2. Industry Expertise
Find a brand positioning market research agency that holds years of expertise in your industry or niche. Industry knowledge is invaluable as it gives a trust that the agency understands the unique challenges, trends, and customer behavior relevant to your brand. A well-informed agency can provide tailored insights that resonate with your demographic.
3. Research Methodologies
Before finalizing the partnership with a brand research agency, dig deeper into their strategy and tools. Check whether they are well aware of the latest trends in data collection and analysis. Do they use real-time data while making any marketing decisions concerning your business? A progressive approach to research makes a significant difference in the quality of insights you get.
4. Data Security and Compliance
Data security is the paramount concern in this advanced technology era. The brand strategy research agency you are hiring must follow strict data security measures and comply with data protection regulations per the General Data Protection Regulation.
Your brand’s reputation depends on the ethical handling of sensitive information. Know about their procedure of data security and compliance before revealing any confidential information of your business.
5. Tailored Research Solution
As every brand is unique, one type of strategy doesn’t work for all. Seek an agency that is flexible to offer different research services based on your business identity and targeted audience.
Tailored solutions will be a plus one and can help you get insights into different problems you are facing while staying relevant to the market.
6. Client Testimonials and Case Studies
Always look for client testimonials and case studies of the brand strategy research agency to know their success stories. Any reputable agency will have huge records of their credibility to give insights about their expertise and track record.
It will give you direct insight into if the agency holds expertise in your industry.
7. Understanding different Brand Awareness Research Methodology
The research methodology of such agencies is one of the primary factors a brand should know about. Because, in this competitive landscape of modern marketing, successful campaigns are built on brand awareness. It’s imperative to understand how your target audience perceives and interacts with your identity to maximise the marketing potential.
Here brand awareness research methodology comes into play to understand the targeted audience and then build a strong business identity in the market.
The research methodology is broadly divided into two fundamental approaches – Quantitative and Qualitative. Quantitative methods rely on statistical analysis aiming to provide accurate measurements, while Qualitative methods follow the deeper and emotional aspects of brand awareness to explore the variable consumer perception and sentiment.
Implementation of both approaches helps the brand to gain a comprehensive understanding of their brand’s awareness followed by real-time data-driven marketing strategies.
2. Quantitative Research Methodology
1. Surveys and Questionnaires
For brand research awareness surveys and questionnaires are effective, but it is important to use them strategically. Drafting structured questions and distributing them to a sample of your target audience. Businesses get insights about the awareness of demographics related to their products, services and preferences. Also, it reveals a huge percentage of people who recognize your brand and if they associate with it.
2. Market Share Analysis
The market share analysis measures the sales percentage of a brand accounts for in a given market. It helps to assess brand awareness compared to the competitors. Dividing brand sales by the total sales in the market gives the market share number.
3. Brand Tracking
A continuous process to measure brand awareness over time to identify the areas of improvements. Surveys, focus groups and online analytics are a few ways of brand tracking methodology.
Qualitative Research Methodology
1. Social Media Sentiment Analysis
This brand research awareness involves monitoring social media platforms to gauge how people discuss your brand online. What kind of emotion your brand is associated with – positive, negative or emotional? It provides you with real-time sentiment surrounding your business to make necessary improvements.
2. Focus Groups
Focus groups are all about bringing a diverse group of people together to discuss topics relevant to your business identity. This qualitative approach focuses on the emotional and perceptual aspects of brand awareness. The valuable and detailed insights help the brand awareness agency create a marketing strategy that improves brand awareness.
3. Content Analysis
One of the most important qualitative research methodologies is to systematically analyse the various forms of content to identify the recurring themes and sentiments related to your brand. This analysis includes online reviews, articles and customer feedback to get valuable insight into the portrayal of your brand among media and the public.
For instance ;
Coca-Cola conducted a global brand awareness study in 2020 using a combination of qualitative and quantitative research methods. As per the results, 90% recognized the brand, and the emotion associated with the brand is happiness, fun and nostalgia.
After analysing the study on the customer perception about their identity, Coca-Cola refined their marketing strategies. Now the brand focuses on marketing campaigns that are positive and nostalgic.
3. Innovative Brand Strategies Followed by Brand Research Agency in 2023
Innovative brand research strategies are the dynamic force to stay ahead of the curve and trends. Real-time data backed by customer behaviour is the ultimate tool to customise your marketing strategy that resonates with the masses. The following innovative approaches help to reshape the audiences and marketing decisions.
1. Art of Data-driven Storytelling
Brand research agencies use data for brand storytelling. The insights about the brands and their customers help to create compelling stories that resonate with customers.
Imagine, a brand awareness research agency using the data like key reasons why customers prefer their brand, to craft a captivating story that highlights the brand’s unique value proposition. Storytelling backed with data is a win-win for the brand’s success.
2. Decoding Consumer Minds with Neuromarketing
The fascinating fusion of marketing and neuroscience is the ultimate ice breaker to understand the perception of customers about any brand. It gives the psychological insights that can supercharge the marketing campaigns. Understanding the neuro patterns of customers can be a real game changer for any business, that not only decodes the consumer mind but also uncovers their expectations from the respective brand.
Picture a research company navigating how consumers react to different logos by peering into their brain’s response. Using such specific insights can help to create a great attention-grabbing brand persona, backed by science-based data.
3. The AI Revolution in Brand Research
In the realm of brand research, AI is a true game changer. It’s not about crunching numbers, it’s more about revolutionizing the entire process. AI analyzes customer data, spotting trends and patterns that human researchers might miss. Such data is the roadmap to craft campaigns that hit the bullseye.
Imagine, a research company using the customer’s past purchases and online behavior to take the customer-centric marketing game to the next level.
4. Listening to Customers
Social listening can change the whole game of marketing by monitoring the perception of customers about your brand on different platforms.
Imagine tracking the buzz around any new product launch on different platforms. Using the reactions and insights to identify the potential hiccups in real-time. Exactly like having a digital ear to the ground.
5. Implementation of AR and VR
Brand research agencies use AR and VR to dive deep into the consumer experience. It’s like testing customer behavior by creating a virtual reality towards a brand and its marketing campaigns. A parallel world goes deep inside the consumer’s mind.
Imagine creating a virtual store where customers can browse and interact with brands and use the information to enhance their customer experience by analyzing their behavior.