Many people think of marketing research as a critical step in launching a new business or product.
However, marketing research can be just as helpful once a business is already established. For example, marketing research can help businesses successfully adjust their pricing, update their branding, expand into a new audience segment, or increase their market share.
The marketing research process can range in complexity and scope, but successful research always follows the same order of operations, starting with the first step.
Sections
What is the first step in the marketing research process?
The first step in the marketing research process is defining the problem. That may sound like a glass-half-empty pessimist’s approach, but it’s really about finding the solution.
Before you start any kind of research — whether it’s marketing-related or not — you must know the problem you are trying to solve. Once you define your problem, you can ask the right questions and get the answers you need to take action.
If you’re not sure what the problem is, start with your goal. Your goal should be SMART (Specific Measurable Attainable Relevant Timely). Then, you can work backwards to define the problem.
What is a marketing problem?
The marketing problem is one the business needs to solve in order to reach their goal. Having said that, the problem should be treated as a research problem, not a business problem.
For example, you want to ask, “How do different price points affect audience perception or interest in our product?” as opposed to “What steps should we take to ensure our price increase is a success?” The first question focuses on the research — finding the answers to specific questions, while the second question focuses on the action items a business must take after the research is completed.
Here are a few more examples of marketing problems vs. business problems.
Example #1: Goal is to expand into a new target audience
- Management problem: “How do we expand our target audience to include demographic X?”
- Research problem: “What unique needs does demographic X have? What is their perception of how other products in the space are currently serving their needs? How do different types of messaging resonate with them?”
Example #2: Goal is to improve the current marketing campaigns for a particular product
- Management problem: “How do we create more effective marketing campaigns for this product?”
- Research problem: “How do our different user personas rate the effectiveness of the current marketing campaigns for this product? Do they respond more or less positively to alternate messaging? What are their feelings on our competitors’ campaigns?”
What are the next steps in the marketing research process?
By clearly defining the problem, you can stay focused throughout the rest of the marketing research process. Using your problem as your guide, you can:
- Determine the tools and methodology you’ll use to conduct your marketing research
- Define the specific questions you want answered
- Seek out the right people to help you answer those questions, e.g. individuals from your target audience, market experts, etc.
- Gather your information into a digestible format so you can present and analyze it with the broader team
Marketing research is an essential first step in the success of any new venture, whether it’s as broad as creating an ecommerce store or as focused as expanding into a new market. Defining your problem is crucial to keeping your research streamlined and effective. For help making your research a success, contact Your Marketing People. We have years of experience conducting marketing research that boosts revenue and other essential KPIs for our clients.
