How to get maximum value from market research
Updated: Oct 16, 2021
A client case study : Inno Construction
Having seen customer demand change dramatically during the first lockdown, we suggested to our client Inno Construction to invest in market research. Not only would this help with their marketing strategy as they would be better informed on rapidly changing customer needs, but they could use the research to create engaging marketing assets and raise their profile on a much wider level in Kent through communicating the most interesting results to secure press coverage.
Sharp Thinking suggested conducting some market research to find out home improvement priorities for homeowners across Kent via quantitative research. This is because it would be quick to undertake and would give us a robust sample to PR and leverage key findings using eye-catching infographics. From the market research, we helped to script and commission, our construction client not only gained invaluable insight but we were able to turn this into a PR campaign to raise their profile across the whole of Kent using expert agency Carnsight Communications.
The construction firm expected less business in an economic downturn, but the first lockdown turned out to be one of the biggest opportunities for the construction industry as homeowners were spending considerable money on home improvements. We suggested capitalising on this and also taking advantage of an increase in media and social media consumption whilst people were stuck in their homes.
The results proved invaluable and could be leveraged in a number of different ways.
1. New positioning
The research showed a third of homeowners were no longer planning to move house and half had redirected these funds to home improvements. Interestingly, nearly a quarter of people had experienced DIY disasters and our construction client was already witnessing panicking customers calling them to help pick up the pieces when things had gone wrong during customer's own DIY attempts. This was an interesting insight and helped us construct a new positioning and messaging.
2. A new sales pitch
The research allowed the construction business to flex their offering and highlight sought-after projects they could help customers with like home offices on the top of people's wish lists. This helped both with sales and marketing ensuring their new business pitch was relevant, insightful, and topical. New messaging was developed and was used in customer acquisition letters and follow up calls.
2. Create eye-catching marketing assets
Infographics are eye-catching and get attention but you need data and a powerful story to tell. The research and data gave us the perfect foundations. We could communicate the key findings and tell a story visually using graphics. These were used across all our client's marketing.
3. Helped secure saught after press coverage
With specialist PR agency support, a prime time TV slot on KMTV was secured and a further six pieces of press coverage were generated. This gave the small business based in Kent exposure to nearly 4 million people and over 100 social shares.
4. Use in direct mail generating a ROI of 33:1
We also communicated key findings from the research in a direct mail campaign which generated 2 sales to the value of over £100k on a £3k spend in two months alone.
Although market research is often perceived to be expensive and used more for business planning purposes, a large scale quantitative based survey can be used in so many different ways. The content can be repurposed too so it has a longer shelf life. This case study shows how it can be used across sales, marketing and PR ensuring the client gets true value from the research.
Read more client case studies including marketing for a care provider during a global pandemic and creating a new brand positioning for a 180 year old family business.