With all of the money, time and talent that goes into developing your advertising, it is important to have measures in place that help you understand how your target responds to that advertising. Prior to the actual launch of the advertisement or campaign, we can help you by conducting focus group or panel research that offers live feedback on your advertisement or campaign. You many also desire an advertising pretest/posttest. In this scenario, we develop a survey that is disseminated prior to any advertising exposure, as well as following the exposure, to determine significant changes in awareness, advertising recognition and key components to the advertising message.
We frequently find that companies have a good amount of archived research on hand, that has simply not been fully analyzed or reviewed. Instead of letting this information collect dust, we can review the data and reports, and develop recommendations for actionable steps. Whether the study was qualitative (i.e. focus groups, interviews, intercepts, etc.) or quantitative (i.e. online, direct mail or telephonic surveys, etc.), we can review the data collected to gather additional insight and recommendations.
Brand awareness studies serve to reveal knowledge of and familiarity with your brand as a whole, while brand equity studies more closely examine the attributes that you feel your brand possesses. Many awareness and equity studies also include questions regarding competitors, which gives you competitive insight into how your company fares. Having at minimum of an annual measure of brand awareness helps you keep tabs on your brand’s recognition among your target prospects, as you work towards becoming top of mind.
Before branching into a new geographic region, new product concentration or service, it is vital to know whether or not your business will encounter viable opportunity. We design studies that help you gather representative data from target users of your product or service to gauge their interest, projected usage and frequencies of usage. We then use secondary data to determine the size of your potential user base. Collaborating with you to determine average customer expenditures, we can then develop revenue projections based on the expected user base, to produce our recommendations for business potential within a new geography or vertical.
Businesses consult poll feedback on a daily basis to gauge consumer and/or citizen sentiment on a specific topic. Polling can take the form of phone calls, in-person intercepts, as well as direct mail and online surveys. Questions are typically brief and quickly get to the point. The feedback received can be used as a contributing factor to organizational, governmental, and even policy decision making, given a broad enough and representative sampling.
Before you venture into an expansion—whether into a new vertical or through additional locations, you must have a clear understating of the competitive landscape. To help you with this endeavor, we take a look at your company, products and/or services and familiarize ourselves with what makes you unique. We then explore competitors that you have identified and often come across additional competitors that are fulfilling a similar need. We examine how they are marketing themselves and determine their unique selling propositions. From this point, we pass along to you the details, including any potential verticals for you to explore that are not currently being addressed, and any areas that set your company apart from the competition that you can emphasize. This research may also reveal areas you are currently focusing, that tie up resources better spent elsewhere.
Your current customers can offer some of the best insight into ways to improve your operations. By reaching out to your customers and clients you are not only receiving their perspective, you are simultaneously showing them that you value their opinions, further strengthening their sense of loyalty to your company. Your clientele can share aspects of your business that they value, things that they would like to change, as well as offer their perspective on any competitors that they work with currently or have in the past, to give you an idea of how your company compares. Don’t allow your customers and clients to remain an untapped resource.
Companies often fail to realize the value of the insight that their own employees can offer. Those who are “in the trenches” on a daily basis can often provide the best feedback on how to operate with maximum efficiency. Just as in customer satisfaction research, showing that you are interested in hearing what your employees have to say carries significant weight in employee loyalty.
Research that delves into your current or prospective marketplace is invaluable. When conducting market research, we help you achieve a deeper understanding of the nuances of your current or prospective marketplace through an analysis of the industries, competitors, customers, events and much more. With this additional information at hand, you have a better understanding of the full business potential and viability for market expansion and business growth.
Media expenditures can draw heavily on company time and financial resources. Whether you purchase your media internally or through a third party agency, HCP can work with your team and all involved media buyers to determine whether your company is making the most efficient buys possible. In certain cases, if media or vendor expenditures are high, HCP will recommend alternative ways to achieve exposure for your company, at a lesser cost.