Knowledge is (marketing) power
All marketers know that doing some amount of research on clients and prospects is important. You may think you know your clients, but how well do you know your audience?
It goes without saying that target market research can be very useful. But because so many factors affect growth and profitability, how much of that research plays a significant role in a company’s performance?
A recent study revealed that undergoing systematic research on your target market impacts the growth and profitability of your organisation.
In fact, firms that conduct systematic research on their current and potential clients grow from three to ten times faster and are up to two times more profitable.
Case study: NUTANIX
We worked with Nutanix whose Enterprise Cloud OS software melds private, public and distributed cloud operating environments and provides a single point of control to manage IT infrastructure. Nutanix’s mission was to come face-to-face with the decision makers they were previously struggling to reach.
Through our 330,000+ database, we were able to target a network of specific target personas and engage them by developing a business theme that was relevant to Nutanix’s offering. Due to the seniority of the target audience, we then developed a proven personalised invitation programme to engage prospects, followed by a strategic confirmation process.
We exceeded our target of 60 guests, receiving 71 attendees in total. Of the 71 leads, 18% (13) were C-Level.
Defining your goals
Once you have a clear understanding of who your target audience is and why that audience wants to engage with your product or service, the next step is to develop your own research marketing strategy. Use this as an opportunity to start establishing some clear and measurable goals.
To give you some food for thought, we’ve curated a list of focused and relevant real-world objectives that may shape your own research marketing strategy:
- To sharpen brand positioning and messaging
- To uncover true, relevant and provable differentiators
- To improve the way your organisation goes to market
- To pursue strategic market opportunities
- To develop new services
- To offer better training for business development staff
- To identify and profile top competitors
Objectives in mind, it’s then time to ask yourself…
Case study: DIGITAL REALTY
Digital Realty wanted to position itself as the gateway and enabler for succeeding with next generation technologies, company transformation, and industry disruption.
Our task was to create true thought leadership in the data centre space that would generate global awareness and position Digital Realty as a digital transformation leader. But to do that, we had to focus our efforts on making the topic of data centres exciting.
With an end goal of generating conversations with senior executives and turning these into C-Level opportunities, we tailored our content and approach to this new target audience by undergoing extensive research into the wants, needs and expectations behind their decision making.
By developing a strong understanding of industry trends and challenges, we were able to develop content that spoke to our clients’ primary target audience. This in turn helped position Digital Realty as a true thought leader, strengthening their brand and reputation and encouraging prospective clients to utilise their services.
Via this approach, we helped Digital Realty generate 250+ leads and secure 50+ meetings to discuss upcoming projects.