Marketing research companies have been utilizing methods to improve advertising methods ever since the 1920’s. In the past, radio and newspaper advertising methods were used to get products and services in front of people. Market research was used to test the ad before it hit newsstands.
Businesses who utilize market research before sending out ads on products have a much more effective marketing strategy. Utilizing a pre launch tests specific demographics by age, location, price etc. This allows an ad to be highly targeted and kind of “POP” wherever it is placed. Whether the ad is within newspapers, television, radio, the internet, billboards or wherever advertising is allowed, a marketing research campaign makes a business more money in the long run.
A market research campaign can even be utilized to see what type of ad will be suited best for people to look at. For instance if a company wants to test out how an ad will be perceived they can launch a campaign to have people choose what ad they think is best.
Companies will team up with a marketing research company, or multiple companies, and have them distribute paid surveys to people.
The data will come back with so much information for businesses to use to launch a more national advertising campaign that you see on T.V., online, etc. On a basic level, the data that comes back can be in regards to:
- What advertisement people liked the best and why
- Did a certain age group like one ad more than another
- Did all age groups find a common ground on various areas of the ad
- Was there certain aspects of the ad that was hated on a large scale
The data can be broken down further as well. A campaign can even check a person’s eye movement to see what a person’s eyes catch the most and least on an ad. Being able to break down the data by injecting it into a proprietary computer algorithm and receiving results will make your real advertising campaign feel like gold. Software is even developed to predict future growth and sales based on the data received. Obviously this will be on products that have already been invented.
Certain products and services fail on such a large scale due to a choppy advertising campaign that could have been refined into a more successful campaign by utilizing market research services.