Vision One Research’s Post

𝟭𝟬 𝐓𝐨𝐩 𝐓𝐢𝐩𝐬 𝐟𝐨𝐫 𝐒𝐭𝐚𝐫𝐭-𝐔𝐩𝐬 𝐚𝐧𝐝 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬 𝟭. 𝗞𝗲𝗲𝗽 𝗨𝗽 𝗪𝗶𝘁𝗵 𝗬𝗼𝘂𝗿 𝗔𝘂𝗱𝗶𝗲𝗻𝗰𝗲 Identifying and understanding your target audience is the foundation of any successful business. Market research helps you gather demographic information, preferences, and behaviours, enabling you to tailor your products and services to meet their needs. 𝟮. 𝗔𝘀𝘀𝗲𝘀𝘀 𝗠𝗮𝗿𝗸𝗲𝘁 𝗗𝗲𝗺𝗮𝗻𝗱 Before launching a product it’s vital to determine if there’s a demand for it. Conduct research surveys and focus groups and analyse industry reports to gauge interest and identify potential market opportunities. 𝟯. 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 Understanding your competitors is critical to positioning your brand effectively. Market research allows you to analyse competitors’ strengths and weaknesses, uncovering opportunities to differentiate your business and identify potential threats. 𝟰. 𝗧𝗿𝗲𝗻𝗱 𝗜𝗱𝗲𝗻𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 New trends are constantly emerging and offer a simple way to keep your brand topical and moving forward. Staying ahead of market trends is crucial for long-term success. Regularly conducting market research helps you identify emerging trends and adjust your strategies accordingly, ensuring your business remains relevant and competitive. 𝟱. 𝗜𝗻𝗳𝗼𝗿𝗺𝗲𝗱 𝗗𝗲𝗰𝗶𝘀𝗶𝗼𝗻-𝗠𝗮𝗸𝗶𝗻𝗴 Market research provides the data needed to make informed choices about product development, marketing strategies, and business expansion. Metrics are objective and reliable data for decision-making, and data-driven decisions are more likely to lead to success. 𝟲. 𝗥𝗶𝘀𝗸 𝗠𝗶𝘁𝗶𝗴𝗮𝘁𝗶𝗼𝗻 Launching a new product involves risks. Market research can identify potential challenges and allow you to develop strategies to mitigate them, reducing the likelihood of costly mistakes. 𝟳. 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 Understanding customer behaviour and preferences can enhance your marketing efforts. Market research can reveal why customers choose your product over others and what influences their purchasing decisions, helping you refine your marketing messages. 𝟴. 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 Customer feedback can guide your product development process. By understanding what features or improvements customers want, you can create products that better meet their needs and stand out in the market. 𝟵. 𝗕𝗿𝗮𝗻𝗱 𝗣𝗼𝘀𝗶𝘁𝗶𝗼𝗻𝗶𝗻𝗴 Effective brand positioning requires a deep understanding of the market landscape. Market research helps you identify your brand’s unique value proposition and communicate it effectively to your target audience, enhancing brand recognition and loyalty. 𝟭𝟬. 𝗠𝗼𝗻𝗶𝘁𝗼𝗿 𝗕𝗿𝗮𝗻𝗱 𝗠𝗼𝗺𝗲𝗻𝘁𝘂𝗺 Regularly collecting and analysing data on brand awareness, customer satisfaction, and market share allows you to monitor progress and make necessary adjustments to maintain growth. https://buff.ly/4doiKm6 #startups

Generally I am all for personas - but well developed ones based on data and more importantly on insights. Have a look at the value based segmentation approach in the post below. My view is that segmentation is the very first step we take in marketing and everything - and I mean everything comes from it. So I. this way, I'd start with segmentation - and all that entails - and build a persona from that.

Fascinating perspective on marketing personas from Julia! While I've seen personas used effectively in some cases, her points about missed value segmentation and "false confidence" resonate deeply. Personas can be a starting point for understanding broad audience segments, but they often lack the granularity needed for truly actionable marketing strategies. Perhaps there's a space for a hybrid approach, using personas for initial groundwork and then layering on value-based segmentation for a more actionable picture. #MarketingStrategy #CustomerSegmentation #ValueBasedMarketing

When launching a new product in the market, a company should carefully plan and execute several key steps to ensure success. Here are the most important factors to consider: ### 1. **Market Research** - **Understanding Customer Needs:** Identify the target audience and their pain points. Understanding what the market lacks or needs is essential in positioning your product. - **Competitor Analysis:** Study the strengths and weaknesses of competitors' products. Knowing how your product differentiates itself or improves upon others is key to gaining market share. ### 2. **Product-Market Fit** - The product must solve a real problem or fulfill a desire for the target audience. Ensuring the product fits well with the market’s demands will increase the likelihood of success. A mismatch can lead to poor sales or lack of engagement. ### 3. **Value Proposition** - Define the unique value your product offers. Why should customers choose your product over competitors? The benefits and features must be clear and compelling to attract attention. ### 4. **Pricing Strategy** - Setting the right price is crucial. It should reflect the product’s value, target audience, and competition. Pricing too high may limit demand, while pricing too low may affect profitability and perceived quality. ### 5. **Marketing and Promotion** - **Brand Positioning:** Your marketing should clearly communicate the product's benefits, unique selling points, and brand identity. - **Digital Presence:** Leveraging social media, content marketing, email campaigns, and influencers can create buzz and reach a wide audience. Early engagement builds anticipation before the launch. - **Launch Campaign:** Plan a structured promotional campaign, including special offers, pre-launch teasers, and strategic partnerships. ### 6. **Distribution Channels** - Decide whether to sell through online platforms, brick-and-mortar stores, or a combination of both. Selecting the right distribution channels ensures the product reaches your audience efficiently. ### 7. **Sales Forecast and Scalability** - Predict the demand for your product and ensure your supply chain can handle it. If you cannot meet demand due to stock issues, you may lose credibility and customers. ### 8. **Customer Support and Feedback Mechanisms** - **Post-launch support** is critical for maintaining customer satisfaction. Ensure customers can easily contact support and provide feedback. This will help refine the product and build trust with the audience. ### 9. **Regulatory Compliance** - Make sure your product meets all legal and regulatory requirements in the markets you plan to launch. Non-compliance can lead to costly penalties and damage to the brand. ###11. **Timing** - Launching the product at the right time is key. You must consider market conditions, seasonal trends, and competitor activities. Launching too early or too late can significantly impact the product's performance.

Heard of the 95:5 ratio? 🤔 In our latest blog post, 🧑🏽💻 Jevian shares how you can be ready for the ‘95’! But what is it? 😯 The 95/5 ratio is an interesting one and states that only 5% of your target audience will respond to your outreach and be ready to buy anytime. The remaining 95% are out of your market and will not be buying anytime soon. Here’s how you can fix it 👇🏼 A well-timed qualitative research project that aims to understand how your prospects feel. It helps you gauge emotions. -> Emotions drive intention, and intentions fuel buying decisions. Is it too late to run qualitative research for your B2B brand? ⌛ Absolutely not! Continue reading to find which stage suits you best - https://lnkd.in/dYWWmstm #marketresearch #brandresearch

Unveiling Market Insights: The Key to Sustainable Growth for QR Solutions Canada 1. Unveiling Market Insights By delving into usage patterns and demographic data, QR Solutions Canada helps brands pinpoint niche markets, unlock cross-selling opportunities, and pinpoint areas for product diversification. This proactive approach propels business expansion, ensuring offerings remain relevant and competitive amidst market fluctuations. 2. Fostering Brand Loyalty and Advocacy Happy customers serve as powerful brand advocates. QR Solutions Canada engages current customers in market research initiatives, fostering stronger loyalty and advocacy. When customers feel valued and listened to, they're more inclined to stay loyal and recommend the brand. Integrating customer feedback into decision-making processes showcases a dedication to continuous enhancement, reinforcing the connection between the brand and its audience. 3. Risk Mitigation and Informed Decision-Making In today's dynamic business landscape, informed decisions are paramount. QR Solutions Canada conducts market research with existing customers, furnishing valuable data-driven insights that mitigate the risk of investing in initiatives that may not resonate with the target audience. Whether launching a new product, expanding into a new market, or refining marketing strategies, a deep comprehension of customer preferences and behaviors empowers brands to make confident strategic choices. Conclusion Market research with existing customers isn't just beneficial—it's essential for QR Solutions Canada clients seeking to thrive in a competitive marketplace. Prioritizing engagement with current customers enables businesses to gain profound insights, fortify relationships, unearth growth prospects, and make informed decisions that foster sustainable success. In an era dominated by customer experience, investing in market research with current customers isn't merely an option—it's a prerequisite for crafting a resilient, customer-centric brand.

[Book Review] A solid introduction to using brand benefits to guide market segmentation, target market selection, and brand positioning https://buff.ly/3xlinJC #B2BMarketing

Let’s deep dive into the intricacies of branding and brand management this time. And this is one of the most asked questions ever. Having spent some time as an entrepreneur myself, these are some of the best methods I have discovered over the years. Brand retention is important if you want to make it big. If the first of your customers do not want to come back then there is something wrong with either your product or service, serving as a valuable indicator for improvement. 🎯 Define brand retention goals The first step in measuring the success of your brand retention program is to establish clear and measurable goals. You have to be clear on whether you are aiming for customer loyalty, higher engagement, or a boost in business. By defining specific and quantifiable objectives, you set the foundation for effective measurement. Having a goal helps you keep your business plans in line with it. 📊 Choosing brand retention metrics Once your goals are in place, it's time to select the brand retention techniques that will help you reach it. It can be personalized marketing campaigns, loyalty programs, or exceptional customer service, each technique contributes differently to brand retention. Tailor your approach based on your target audience and industry. 📈 Collect your brand retention data Implement robust data collection mechanisms to gather information on customer behavior, engagement levels, and feedback. Leverage analytics tools, customer surveys, and social media insights to track key performance indicators. Regularly analyze this data to find out how much you have achieved, and where you can improve. All these will help you in the brand retention process and help you in forming a loyal customer base. #branding #brandmanagement #brandidentity

Outperforming the Market Competition!! Outperforming the market competition can be challenging but achievable with the right strategies and execution. Here are some steps you can take to increase your chances of outperforming the competition: 1. Understand Your Market: Conduct thorough market research to understand your target audience, their needs, preferences, and behaviors. Identify gaps in the market that your competitors aren't addressing. 2. Differentiate Your Offering: Develop a unique selling proposition (USP) that sets your product or service apart from the competition. Highlight what makes your offering special and why customers should choose you over competitors. 3. Focus on Innovation: Continuously innovate and improve your products or services to stay ahead of the competition. This could involve investing in research and development, exploring new technologies, or introducing novel features. 4. Provide Exceptional Customer Service: Offer excellent customer service to build loyalty and differentiate yourself from competitors. Respond promptly to inquiries and resolve issues efficiently to leave a positive impression on customers. 5. Build Strong Branding: Invest in building a strong brand identity that resonates with your target audience. A compelling brand story, consistent messaging, and visually appealing branding can help you stand out in a crowded market. 6. Embrace Digital Marketing: Leverage digital marketing channels such as social media, content marketing, email marketing, and search engine optimization (SEO) to reach and engage your target audience effectively. Analyze data to optimize your marketing efforts and maximize ROI. 7. Focus on Quality: Prioritize quality in everything you do, whether it's product development, customer service, or marketing materials. Delivering high-quality products and services will help you build a positive reputation and attract loyal customers. 8. Monitor Competitors: Keep a close eye on your competitors to understand their strategies, strengths, and weaknesses. Identify opportunities to differentiate yourself or capitalize on gaps in the market. 9. Stay Agile: Be adaptable and responsive to changes in the market landscape. Stay informed about industry trends, consumer preferences, and technological advancements, and be prepared to pivot your strategy accordingly. 10. Measure Performance: Regularly track and analyze key performance indicators (KPIs) to evaluate your progress and identify areas for improvement. Use data-driven insights to refine your strategy and stay competitive. By following these steps and consistently striving for excellence, you can increase your chances of outperforming the market competition and achieving long-term success. #tracerworld #competition #market #monitor #competitor #research #data #analysis #satistics #comparison #value #technology #humanresource #skills #training #management #resources #industry #trade

#Another Mega Milestone for SSBS✌️✌️✌️ Turning Product Challenges into Market Triumph #Background Our client, a leading FMCG company with a portfolio of successful brands, launched a new product with high expectations. Despite considerable marketing efforts, the product failed to resonate with its target audience. Our objective was to pinpoint the root causes of the product’s underperformance and develop a strategy to drive its success in the market. #Problem Analysis: Through thorough analysis, we identified that the issue lay not in the marketing efforts but in the product itself. Factors affecting the product's appeal included its form factor, size, and flavors. Market research showed that the product did not align with the preferences and expectations of the target audience amid fierce competition. #Solution Approach: Product Evaluation and Redesign: We assessed the product’s design and attributes, conducting a comprehensive brand audit. Adjustments were made to the form factor, size, and flavors to better match consumer preferences. #Revised Emotional Triggers and Brand Strategy: We developed a new value proposition that highlighted the product’s benefits with emotional appeal, resonating with consumer desires. A revised brand story was crafted to forge a stronger connection with the audience. #Full Product Assessment: After modifications, a thorough evaluation was conducted, including market research and product testing, to ensure alignment with consumer needs. #Repositioning Strategy and Business Plan: We devised a detailed repositioning strategy and business plan to guide the product’s market reentry. #Go-to-Market Strategy: A robust go-to-market plan was implemented, featuring an adjusted pricing strategy, new distribution methods, and effective promotional techniques. #Updated Communication Strategy: Messaging was revised to emphasize the product’s updated attributes and emotional triggers, effectively engaging the target audience and showcasing the product’s unique benefits. #Implementation and Results The redesigned product and updated communication strategy were launched, leading to increased market acceptance and a significant boost in sales performance. The new form factor, size, and flavors, combined with a compelling value proposition and effective messaging, successfully met market needs. #Conclusion Even with a substantial marketing budget, failing to connect with your target audience can impede success. A fresh perspective is essential for reassessing and realigning your strategy effectively. At Smart Strategic Business Solutions, we excel at transforming challenges into opportunities and driving market success. Our expertise in evaluating and enhancing product appeal, along with our innovative approach to strategy and communication, ensures that your brand not only competes but leads. In a competitive landscape, we are here to make a significant impact and deliver results that set you apart.