Have you ever been in a situation where you need to explain market research, but the person you’re talking to doesn’t have any idea what it is? What do you say? How do you get them interested in it?
And most importantly, how can we talk about market research without sounding like a used car salesman? Luckily, I’ve got your back. Here are five tips for having that conversation.
|1. Communicate the value of marketing research by focusing on its role in understanding customer needs and preferences.
|2. Emphasize how marketing research enhances decision-making by providing actionable insights from unbiased data.
|3. Highlight real-world examples of how effective market research has led to successful business outcomes.
|4. Avoid using aggressive sales language when discussing market research; instead, use educational and informative language.
|5. Show empathy towards customers’ concerns and demonstrate how market research can address their pain points.
To get specific, you must first define what you want to achieve. Decide on a goal and set deadlines that are ambitious but also realistic.
If you’re in sales, go big on this one think of it as a personal challenge to see how much money you can bring in over the next three months or so.
Then, break down that overall goal into smaller milestones: by month four, I will have made X amount; by month five, I will have sold X number of units; and so forth.
If this sounds like too much work for now (and let’s be real it probably does!).
Just think about something tangible instead like getting fit! Instead of setting up an overarching fitness goal for yourself (e.g., lose 20 pounds), create smaller goals based on specific tasks and habits (e.g., swim laps every other day).
Understanding the intricacies of marketing research requires embracing both the art and science behind it. Discover more about this fusion in our article on The Art and Science of Marketing Research.
Use Plain English
There are many ways to communicate marketing research in a way that’s compelling and not too technical.
One of the best things you can do is use plain English instead of jargon, so that you’re speaking directly to your audience’s needs rather than trying to impress them with how much you know.
In other words, don’t use abstractions where concrete examples would work just as well (and be easier for them to understand).
Consider this example: “The presence of an e-commerce system has been shown to lead customers towards higher lifetime value.”
Substituting concrete language for this sentence would make it more understandable: “When e-commerce systems are present, customers spend more money over time.”
Using active verbs will also help make your writing easier for prospects and clients to understand; passive verbs tend to muddy things up by making sentences less clear or concise than they ought to be.
Try using phrases like “the platform was built” instead of “the platform was built by us,” or “we’ve worked with hundreds of companies” rather than “hundreds of companies have worked with us.”
Use Metaphors And Analogies
In addition to being a great way to learn, metaphors and analogies are also a great way to communicate complex ideas.
For example, if you’re trying to explain how your product works with an audience that doesn’t know anything about it, or if you want them to understand why they should buy your product instead of someone else’s, then using metaphors and analogies can help.
Use this tactic by explaining how your product will help the customer in ways that are relevant and relatable. For example: “Our software is like training wheels because it gives new users something they can use without knowing everything about our technology.”
Or: “Our website is like gas for your car because it’s what makes everything work.” The more specific the metaphor is, the better chance people have at understanding how their lives will be improved by using what you’re offering them!
In a fast-paced world, conducting effective marketing research often means adapting to the speed of communication. Explore how to match the pace with Marketing Research at the Speed of Texting for better insights.
Show Them That You’re Listening
When it comes to listening, you have to show them that you’re listening. This means asking questions and getting them talking.
You should ask open-ended questions: ones that don’t require a yes or no response but instead involve more thought and reasoning. Asking “how do you feel about…” is an example of an open-ended question.
It allows the person to respond with whatever they want (as long as it doesn’t involve profanity). Once they start talking, keep giving them space to continue by staying silent after each response so they can continue if they wish.
You should also make sure that your questions aren’t too easy: ask questions that make them think or relate their business experiences back to yours; for example, “So how does this compare with what we’re doing?” or “How does this affect our mutual customers?”
When asking these types of questions, remember that it may take some time before someone feels comfortable answering because they’re not used to being asked such things at work not yet anyway!
But once someone starts answering, keep going until you get everything out of the possible; otherwise all those good insights will go right down the drain!
Emphasize The Benefits, Not The Features
One of the best ways to get people interested in your product, service, or idea is by talking about what it can do for them.
Talking about the features of a product (how many cores it has, how thin it is) isn’t as effective as talking about benefits (how quickly you can process data with this computer). Benefits are what people care about; features are just facts.
Think about how much more likely you are to buy a phone because it has a great camera than if someone simply said “this phone has 12 megapixels”.
Benefits aren’t just better than features because they feel more tangible they also have more perceived value and appeal because they let us envision how something could improve our lives without being able to see every single detail.
Transitioning from apprehension to enthusiasm is key in your journey towards mastering marketing research. Read about one individual’s journey in How I Learned to Stop Worrying and Love Marketing Research.
Be Honest About Your Company’s Strengths And Weaknesses
It’s important, to be honest about your company’s strengths and weaknesses. Don’t pretend to be something you’re not. Don’t pretend to know everything. Don’t claim to have all the answers, and don’t act like a god of knowledge in interviews and presentations.
If you can, acknowledge some of the issues that your organization had when it first started up or any problems that the company has had recently with its marketing research efforts (or lack thereof).
This will show that you’re willing to admit mistakes and learn from them a trait most people want in a leader, who doesn’t want someone who makes excuses for his or her mistakes?
Be Open To Learning About What They Need
When you’re talking to a prospective client, remember that they want to learn as much about your company and the services you offer as you do about theirs.
They want to know what sets your company apart from others in their industry and if there’s anything that makes you uniquely qualified to help them achieve their goals.
Ask questions like: what are your biggest challenges right now? What do you wish was different at this point? What would it be like if they had the resources they needed or wanted? You’ll learn a lot by listening and sharing what’s on their mind!
Highlight How You Can Help Them Address Their Needs
In the end, it’s important to remember that you are trying to help your client. When a potential customer is looking for someone who can meet their needs, they will trust you if you can show them how you can do so.
You should highlight how your company can help them address their needs by showing them how your products or services are valuable and different from others in the market.
You should also demonstrate why you are better than competitors by pointing out what makes your company unique and why this makes them an ideal choice for solving problems.
The foundation of effective marketing lies in understanding the significance of segmenting your target audience. Learn about The Importance of Market Segmentation and its role in driving impactful strategies.
Sharing Knowledge Is A Great Way To Build Trust And Help Customers Understand Why Your Products Are Valuable
First, you can share knowledge by letting people know what you know. For example, if you’re giving a talk at an industry event or hosting a webinar, let them know exactly who’s speaking and what their background is before it starts.
If you’re sending out emails or newsletters, let them know how much research went into creating the content that’s being sent out, and even better yet, share some specific examples of how these findings apply directly to their business needs.
Second, consider sharing other people’s knowledge as well as your own. You might find it easier than expected (and less sales-y).
If instead of presenting yourself as an expert whose sole purpose is to sell something else, try offering value in different ways: say something like “A good friend of mine just wrote this book on [topic] and I thought I’d share it with all of our readers today!”
This gives others credit while still providing value in the form of recommendations from others within your network without being pushy about anything else being sold or promoted at all!
Don’t let misconceptions hold you back from diving into valuable marketing research. Discover why you can make informed decisions without overspending in Why You Don’t Need to Pay a Lot for Marketing Research.
If you can explain your marketing research without sounding like a used car salesman, then you’ll be ahead of the game! Remember that any time you share knowledge with a potential customer, it builds trust.
And when you make sure to address their particular needs and concerns, they’ll feel even more connected to your brand.
Marketing research is a key part of any business but it doesn’t have to be a sales pitch. By following these tips, you can use your marketing research findings to build relationships with customers and help them understand why your products are valuable.
Here are some additional resources for further exploring the topic of market research:
Learn about the fundamentals of market research and its significance in understanding consumer behavior and market trends.
Dive into a comprehensive guide that outlines how to conduct market research at different stages of the buyer’s journey.
Explore an in-depth guide covering various aspects of market research, including methodologies, tools, and best practices.
What is market research?
Market research refers to the process of gathering, analyzing, and interpreting information about a market, including its consumers, competitors, and industry trends. Its purpose is to provide insights that aid in making informed business decisions.
Why is market research important?
Market research helps businesses understand their target audience, identify opportunities, and mitigate risks. By studying consumer preferences, market trends, and competitive landscapes, companies can tailor their strategies to meet customer needs effectively.
How does market research contribute to the buyer’s journey?
Market research plays a vital role in every stage of the buyer’s journey. It helps businesses identify their target audience, craft compelling marketing messages, and tailor products or services to match customer preferences, leading to higher conversion rates and customer satisfaction.
What are some common methodologies used in market research?
Several methodologies are used in market research, such as surveys, focus groups, interviews, observational studies, and data analysis. Each approach provides unique insights into consumer behavior, preferences, and opinions.
How can businesses use market research to improve their strategies?
Market research provides businesses with valuable data and insights that enable them to refine their marketing, product development, and customer engagement strategies. By understanding customer needs and preferences, companies can create more relevant and effective campaigns.
Costantine Edward is a digital marketing expert, freelance writer, and entrepreneur who helps people attain financial freedom. I’ve been working in marketing since I was 18 years old and have managed to build a successful career doing what I love.