Profits Sink With "I Think"
As marketers we all carry some level of belief that we know best when it comes to marketing strategy, branding, design, etc. After all, it takes a little ego to create a truly disruptive marketing message that cuts through the noise in the marketplace. Unfortunately, brands and marketers can fall victim to that sense of self-belief when the strategy is not rooted in research. For that reason, Colossal Agency initiates each project, regardless of type and scope of work, with detailed research. Here’s why:
We’ve identified 3 key factors that support a marketing plan built on a foundation of research.
1.) If you’re only thinking, you’ll soon be sinking – It’s a relatively elementary way to explain it, but it’s true. We’ve all seen companies and brands fall victim to this, specifically with companies that have enjoyed long term success. They stop listening to their customers and focus on what they think their customers want. In the end, it’s always easier and more effective to simply ask and implement.
2.) Driving Forward vs. Tiptoeing Along – It’s a fact. In life, when we make informed decisions regardless of the situation, we move forward with confidence and conviction. Without that information, we edge forward cautiously into the dark unknown. The same principle applies to how we should approach our marketing. If we have information directly from our customers outlining their wants/needs, we can make informed marketing decisions and drive forward with confidence to achieve a healthy bottom line.
3.) Consumers reward good listeners - Need evidence? Look no further than the explosion of social media marketing from mid-cap to fortune 500 companies. Social media provides these big businesses with an avenue to offer transparency and one-to-one conversations with their consumers. Why not carry that same philosophy over to how you market your business? Give your target a change to be heard and then act accordingly. They will reward you for it.
Whether you are sinking from thinking, or just looking for assurance while profits are high, conducting research with your consumers is a critical element to the future success of your business. At the very least, you will sleep a little better knowing that you’ve listened to the life blood of your business – your customer.
Contact Colossal Agency today to start the conversation about how our approach can help grow your business.