Do Your Research! – Pt. 2

How research data can be used to become or maintain your role as marketing leader.

Marketing research is a crucial part of any business. Marketing leaders use research to determine if their ads are doing well, if they are reaching the right audience, if they are selling the best products, and so much more. By doing this research, you can determine what it is that you may need to change, or what you may need to do differently to be more successful as a brand.

When using the research data, it is important to look at all the data that was collected. You must be able to look at all the quantitative and qualitative data that was gathered and be able to determine whether it is data that is statistically significant, meaningful, and stable. These three aspects will be able to help you to develop specific marketing strategies and tactics for each market segment.

Significant, Meaningful, Stable

Data that is statistically significant shows that if difference between two data sets is large enough to make a difference or not. Data that is meaningful means that “the marketing manager can potentially use differences as a basis for marketing decisions.” And data that is stable means that the “differences will be sustained over a period of time.” Together, this gives marketing leaders the ability to determine if changes need to be made while allotting them the time to make the changes and see results.

As a marketer, you must be sure to create a survey or a test for your market to complete that will give you the answers you are looking for while ensuring the answers include the three aspects mentioned. By doing this, you will be able to become or maintain your position as marketing leader because you will be able to prove that you have put the best marketing strategies to use or will be doing so soon.

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