Advertising is defined as the activity or profession of producing advertisements for a product or service. Pretty simple definition, right? It is, but it fails to explain the point of advertising. What does advertising achieve?
We all know that advertising plays a vital role in the marketing and sales process, and we also know advertising works. After all, we are bombarded with advertisements everywhere we look on a daily basis. If advertising did not help a company to boost sales, why would they spend the time, money and energy on marketing strategies? They wouldn’t. Which is why we see it everywhere!
Market research can fuel your marketing and advertising messaging.
Basic Objectives of Advertising
Three basic objectives of what is trying to be achieved with an advertisement include:
① Raise awareness about a product or service.
② Generate leads for potential sales.
③ Result in the purchase of a product or service by a customer.
If you can hit on all three, you have succeeded but oftentimes, specific advertisements and specific platforms you use to advertise are better at one or the other. For instance, a banner ad on a website works much like a billboard. Lots of impressions but a low click-through-rate (CTR). The idea of a banner ad is to build awareness for future advertising and brand recognition.
If your organization runs an advertisement on social media with a 24-hour sale of your product or service, the ultimate goal is to generate orders and sales. If you simply build awareness through the ad, that is an ancillary benefit, but not the intended one.
Other advertisements can include commercials that appear on television, radio, or online platforms. Advertisements can also be images and/or written word about a product or service in a newspaper, magazine, flyer, or digital platform. Regardless of the type or platform utilized, they are all designed to guide a specific group of people to purchase a product or service.
How Market Research Can Assist
But, how does a company specifically target an ideal consumer? Market research, that’s how.
Advertising demonstrates the solution to a problem or it creates a desire for a specific product or service. Due to the purpose of an advertisement, it is essential for a company to know what the problem is and what a customer really wants. Market research enables a company to understand their ideal customer by asking questions and paying close attention to the words the participant chooses in the responses. By using the voice of the customer (VoC) in the copy (actual wording used in the advertisement), the advertisement directly speaks to the company’s ideal customer.
During focus groups, surveys and other market research methodologies, questions are designed to gather data and insight about a specific product or service, but they are also worded by the market research company strategically. Question writing is part art, part science and should not be taken lightly. It takes many years to perfect, and we always recommend using a market research company to help get you there.
Imagine a company designed a new product to assist new mothers with breastfeeding an infant. Wouldn’t it be important to understand what struggles the new mothers are experiencing currently, or what would make that situation easier for them? Possibly, how they feel about the struggle they are experiencing, as well as how they would feel if that struggle was solved?
Or, think about if Nike designed a new sneaker and they desired a successful launch of their new product. Wouldn’t it be helpful to know what people do and don’t like about the sneakers they are currently wearing? What they are annoyed or frustrated about, and what they really are looking for in a sneaker?
Thirdly, consider a local bank that has experienced a decrease in business, and therefore they want to create an advertising campaign to gain more exposure in their community. Wouldn’t it be essential to understand what the community needs and wants regarding products and services offered at a bank? Which financial institution they use now? Possibly, what financial problems or worries do they experience?
All of these objectives are accomplished through a simple Voice of Customer (VoC) survey, which can be done cost-effectively and quickly in as little as 2 to 3 weeks.
Advertising is a multi-billion-dollar industry. Therefore, any marketing campaign involves a financial investment for the company. Wouldn’t a company want to make wise investments? Of course, they do. Market research helps companies to make wiser investments by helping them to understand their ideal customer’s needs, preferences, opinions, and experiences. All by reducing risk.
By asking thought provoking and insightful questions, these companies not only gain data and valuable insight, but they also become armed with powerful quotes and verbatim comments that will directly influence a potential customer to take the leap to loyal buyer.
Contact Our Advertising Market Research Company
Drive Research works with advertising agencies and marketing companies to assist with using market research to drive decision-making. This market research often lays the foundation for successful operations, marketing, and strategy.
Interested in learning more about our advertising market research company? Contact us.