Find your brand’s strength. Identify market gaps. Put them together and, boom; it’s time to go to market.
Finding your brand’s strength and identifying market gaps involves much more than a sit-down among founders and a few Google searches. It requires comprehensive research.
Through targeted brand research, you develop an understanding of your competitors, your market, and where your organization fits into the mix. It also provides an opportunity to learn about your company’s strengths and weaknesses, becoming a guide as you look towards the future of our organization.
What is Brand Research and Why is It Important?
Whether you’re building an entirely new brand or want to learn if your current branding efforts are working, research is the key to unlocking that insight.
There’s almost no limit to the type of insight brand research can provide. It’s one way to create a baseline understanding of your competitors and market. For instance, how does your business or organization measure up against what others in your space are doing? Are you setting the pace or trailing behind?
It’s also an important tool when you need to better understand your current and intended customers and how your product or service can provide either a new or improved solution to a problem.
Don’t Start Marketing Until You’ve Done Your Research
Research is the first step in a thoughtful marketing plan, setting the foundation for your design, strategy, and marketing efforts.
Many companies start marketing without first doing the necessary research to understand their brand and audience. They think they know what their customers need and decide to jump right into the tactics. But the cost of failing to do the research and develop the strategy can be pricey.
How to Perform Brand Research
Research begins by asking questions. At Gate, our team asks these critical questions so we can better understand our clients’ market, target audience, and competition, including:
- What problem does your product or service solve?
- How do your competitors solve the same problem?
- Is the problem you solve a major pain point for your audience?
- What is the market perception of your brand?
- What is the market perception of your competitors’ brands?
- What marketing strategies are your competitors using?
- What marketing strategies are most likely to reach your audience?
- What are your organization’s strengths and weaknesses?
- What are your competitor’s strengths and weaknesses?
- What are the current market gaps?
Ready to Start Your Brand Research Journey?
The GATE team has decades of experience performing brand research that delivers actionable insights. Contact us to learn more about our brand research service and how we can help you begin your branding journey.
We are Gate. Let’s do this together.