Tech Central: Digital marketing is simply an endeavour where brand messages are delivered through digital channels such as social media, websites, and search engines
As simple as that is, the right digital marketing effort can boost a business ahead of any competition. This is due to the presence of almost half of the world’s population on various digital platforms. Hence, it is apt to conclude that digital marketing has taken a lead role in shaping the future of marketing.
However, business growth and marketing success inherent in digital marketing may not be a reality if in-depth market research is not conducted.
Market research avails business owners and marketing managers with important information which helps in crafting the appropriate strategies to actualize the success of their digital marketing efforts.
With the immense popularity, digital marketing has gained over time, it is important to discuss the importance of market research in achieving the best digital marketing results.
This importance will be discussed below as adapted from Curatebee, an award-winning digital marketing agency in Sydney.
It is no doubt that digital marketing can reach a larger and more heterogeneous audience compared to traditional marketing. Despite this, advertising ones brand to everyone online might be a good initiative as it is often time-consuming and less efficient. Hence, the need for market research.
In-depth market research helps organisations to better identify who their target audience is. The identification paves way for them for gathering necessary information about the target audience; their demographics, psychographic and other socioeconomic characteristics. All this information, if properly harnessed would give organisations the best digital marketing results.
After identifying the target audience, the next thing is to outline their most active platforms – this can easily be identified through market research.
Combined with this, market research allows organisations to examine people’s reactions to brand’s marketing efforts and also know where the brand is mostly talked about.
According to Statista, there are about 3.60 billion social media users in the world, this implies that social media is an important tool for digital marketing which shouldn’t be underestimated. Once the most used social media platforms by the target audience are identified, organisations can leverage such information to get the best digital marketing results.
Getting relevant information about the competitors is never a problem in market research. Market research helps to information about the competitors, their positions in the industry/market and why they are there. Competitor’s analysis is very important to business especially when they share the same target market.
Information gathered through market research can help organisations identify the competitors’ digital marketing efforts – those who work for them and those that do not. Knowing this will help to identify gaps to fill in the digital marketing efforts and also design better or improved strategies from the competitors’ mistakes.
Another vital importance of market research is the ability to identify key social media influencers whose personalities align with the brand’s visions and goals, and who can create two-way communication between them and the target audience.
Even though influencer marketing is now less effective than it was before, it remains an important part of digital marketing to be considered. As such, through proper market research, it can still be a veritable digital marketing tool for influencing the target audience and instigate their patronage.
The importance of market research on digital marketing shouldn’t be underestimated, it provides vital information to achieve the success of any digital marketing endeavour.