Our market research company keeps the pulse on the latest and greatest in the industry so you don't have to. We don't just talk market research, we live it, we write about it, and we share it. Our fingers hurt because of it. Often. Learn more about market research basics, tricks, trends, and ideas. Grab a fresh coffee, there is so much here, you'll need it.
Market Research Company Blog
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What is a Market Analysis? [+ Download an Example Report]
Posted at: 1/18/2022 1:30 PM
A lot of time, money, and preparation is involved in starting a new business or opening a new location. Before getting too in the weeds, one of your first steps should be conducting a market analysis. A market analysis helps organizations understand their target demographic, consumer profiles, buying habits, and much more. It yields valuable data if you are flying blind about a current or planned expansion market. In this blog post, our market research company discusses the importance of co
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Customer Retention Surveys: Definition, Process and Sample Questions
Posted at: 1/14/2022 1:30 PM
Whether you are the biggest brand in the world, a small local firm, or somewhere in between – we all want to welcome new customers and keep them coming back for years to come. However, there is one thing to keep in mind. It’s more important to keep a customer than it is to acquire a new one. Why? The probability of selling to an existing customer is between 60% and 70% while, the probability of selling to a new customer is only between 5% to 20%. Even so, 44% of businesses focus on customer
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Brand Tracking Companies: What You Can Expect With a Third-Party
Posted at: 1/13/2022 1:30 PM
Many businesses, small or large, can benefit from outsourcing their brand tracking needs. As a company grows, internal resources are less likely to have the capacity to design and analyze market research data on an ongoing basis. For this reason, many business decision-makers move toward partnering with brand tracking companies to reduce their workload. Especially with only 48% of marketers saying they measure metrics related to branding, doing so could be a huge opportunity to get ahead of
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Improving Job Satisfaction: 8 Examples of Why Company Culture Matters
Posted at: 1/11/2022 1:30 PM
At the crux of every successful, fast-paced organization is the people who hold it together: drumroll, please…the employees! Therefore, it should come as no surprise that “job satisfaction” is a term that, in the recent past, has been highlighted as the hallmark of a good company. In fact, a whopping 88% of those in the job market think that positive company culture is of importance. After all, if staff is not treated well, low productivity and general unhappiness can bleed into the fabric
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Stop Working with a Marketing Agency for Ad Concept Testing - Do This Instead
Posted at: 1/10/2022 1:30 PM
When most brands think of concept testing in advertising, they turn to marketing agencies or an in-house team. This can lead to biased, unreliable results. We’ll explain why this is, and a better alternative to conducting concept testing surveys. It’s no secret that the ROI of your company is huge. In fact, it’s been documented that professionals who compute marketing ROI are 1.6 times more likely to get a higher budget for future marketing endeavors. Who doesn’t want that? I’ll cut right to
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Do I Need Market Research? | Why Neglecting It Is Bad For Business
Posted at: 1/5/2022 1:30 PM
Do you need oxygen to live? Okay, I’ll spare the dramatics – but, yes! Every organization needs market research, whether it is a small startup, testing a new concept, or rebranding your business. Marketing research is an integral step in reaching out to your target audience, gaining a competitive edge, and exceeding sales goals. Think of it this way, there are more than 30 million businesses existing in the United States today. Each has a similar product or service offerings to a number of c
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4 Critical Audiences for a Brand Positioning Study
Posted at: 12/23/2021 1:30 PM
Are you looking to enhance your brand’s marketing communication materials to be more well-received by your target audience? Maybe you are unsure if the direction your organization is headed will make your brand stand out in your industry? Or is it time to update your logo or packaging for a fresh new look? A brand positioning study is the answer to solving these business objectives as it is a popular type of market research methodology for those looking to reposition their organization and
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Market Research to Build Your Inbound Marketing Strategy
Posted at: 12/22/2021 8:48 PM
A strategic inbound marketing strategy is a powerful tool in any marketer’s arsenal. If executed correctly, you will never have to make another sales call again. This type of marketing tactic is not only user friendly, but cost-efficient too. For example, studies found that inbound marketing leads cost a whopping 61% less than outbound leads. The key to effective content marketing is knowing exactly who your customer is. What are their wants, needs, goals? How can your product, service, or b
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Posted at: 12/21/2021 1:30 PM
There are several types of market research that are great for measuring in-depth consumer feedback on your products and services. Perhaps the most effective is in-home usage tests (IHUTS). The benefits of in-home testing are many and can be utilized by both national and local brands. Plus, they can be utilized regardless of what industry you serve. From consumer packaged goods to skincare products, to outdoor power tools – IHUT market research provides the most realistic analysis of how cust
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What Does 5 Years of Drive Research Look Like?
Posted at: 12/20/2021 1:30 PM
As an entrepreneur, I'm often asked what it's like to start a business from the ground up. Some days it can feel like an absolute grind. But there is no other feeling like it in the world. To be in charge of your own destiny and our company’s destiny, it’s the most rewarding feeling and very motivating. That sentiment rings true as we celebrate Drive Research and its five-year anniversary. The achievements we've experienced so far are a testament to our dedicated staff, loyal clients, and part
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Visitor Surveys: 7 Tips to Improve Results of a Travel & Tourism Study
Posted at: 12/16/2021 7:37 PM
Visitor surveys in the travel and tourism industry are a great way to reveal the kind of people who are coming to your area. They can showcase visitor behaviors, predict future trends, and paint a picture of the typical traveler. This type of travel and tourism market research also goes far beyond just a single attraction. In fact, visitor studies are often used to gather insight for a destination, town, region, and even an entire state or province. For example, this ongoing Canadian travel s
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5 Types of Brand Tracking Studies & How They Work
Posted at: 12/15/2021 1:30 PM
Conducting market research regularly is crucial for maintaining a competitive edge, keeping the pulse on customer needs, and creating relevant marketing campaigns. An effective way to accomplish this is with brand tracking studies. There are many types of brand tracking, whether it be collecting ongoing feedback from customers or measuring the results of a 6-month marketing campaign. When deciding what type of market research is right for you, consider your audience and goals. These component