USPS: A Thought-Leadership Research Case Study
24 Jan 2020

Thought-leadership research for content marketing strengthens a brand’s credibility, generates awareness, increases engagement, and build new leads.

Challenge

e-Commerce companies often have difficulty with return management and reverse logistics. Issues include fragmentation, siloed functions, and some companies even have no return operation policies in place. These problems often cause issues such as redundancies in costs and efforts.

The United States Postal Service was looking to help businesses deal with the accelerating realities of the online purchase returns landscape. Therefore, to provide the most pertinent information, the government agency wanted to understand: 

  • How do retailers structure and communicate their e-Commerce return policy? 
  • What types of logistics solutions are in place to set them up for success with returns?
  • Create a competitive benchmark to help companies understand that their returns policy is up to par. 

So, the government agency on-boarded Provoke Insights in order to create thought-leadership research by conducting quantitative research to help companies understand if their returns policy is up to par. Thus, the aim of the research was to provide original content on this topic for USPS to generate engagement on the USPSDelivers blog for logistics and operation professionals. 

Solution

Provoke Insights conducted an online survey among 300 professionals involved in the reverse logistics process. With that in mind, the survey was designed to gather content marketing insights on the following topics: 

  • How companies self-assess their returns policy;
  • Barriers, challenges, and concerns that companies have when it comes to returns;
  • Solutions and tactics in improving efficiencies during the reverse logistics process.

Result

USPS was able to use the research for content marketing and thought leadership purposes. They published a report on the USPSDelivers blog – read the report here. The B2B target audience can use the results to understand how to improve the reverse logistics process.

The market research firm found that implementing new technologies is an essential way to help the reverse logistics process and that a tenth of companies don’t have reverse logistics policies in place. 

Most importantly, USPS was able to position itself as a thought-leader in the field and differentiate itself from the competition. The results were recently published the full report on USPSdelivers.com and it can be found here.

Sustainability Marketing: Adapting to the New Consumer Mindset
17 Jan 2020

As climate change makes news every day, consumers are deciding to take action into their own hands. As a result, consumers are more interested in the sustainability of the products they purchase, and it’s affecting their decision process. 

It’s important in this new world that companies adjust, and many are. Consequently, new subscription services are banking on sustainability as a marketing point to sway environmentally conscious customers. How can your brand keep up-to-date with sustainable marketing?

Sustainability: The New Consumer Mindest

Consumers are more concerned with how companies are affecting the environment. For example, 90% of consumers believe that companies and brands have a responsibility to take care of the planet and its people. Similarly, 83% of consumers, when deciding between brands, will always pick the one with a better sustainability record. In addition, 70% are willing to pay more for products and services that help protect the environment or don’t infringe on human rights. 

Certainly, these results are the sign of a new consumer mindset. Generally, customers are very concerned about how their providers are affecting the world around them. Brands have fallen victim to their own unethical behaviors being brought to light. For instance, Starbucks decided to get rid of plastic straws after a viral video of a turtle choking on plastic in the ocean. Fast fashion clothing brands like Forever21 and Urban Outfitters have also been criticized for their hostility to workers and harmful clothing material. Moreover, companies have to be careful about their practices, because consumers are watching.

Sustainability Marketing

As a result, brands are deciding to double down on sustainable and environmentally sound practices in order to appeal to this new generation of conscious consumers. This has resulted in a few different things; new companies starting with a message of sustainability, and legacy brands making an effort to revamp as sustainable and eco-friendly.

As an example of new brands, startups recently raised record numbers to deal with packaging waste, with hundreds of millions raised across ten different companies. But there is also the clothing brand Rent the Runway, which sells customers on renting dresses so that they can still wear what they want to an event without participating in fast-fashion. There’s Feather, the furniture rental company which rents out furniture on the premise that furniture will not go to waste.

As for legacy brands, Burger King has recently launched Impossible Burgers, using fake meat in order to appeal to vegetarians and carnivores who are worried about the environmental impact of meat production. And there is Patagonia, who has made news for donating millions to combat climate change.

A New Hope

It’s important that your brand keeps up to date with sustainability marketing. In order to stay on top of the climate crisis, as well as sell to customers, this new trend in branding and practices is good for everyone involved. Let’s all hope for more sustainable and ethical practices, for the planet and people’s sake!

Want to read more from Provoke Insights, find some more blog posts linked below:

  1. Don’t Let Your Marketing Dollars Go to Waste
  2. 2020 Trends: Advertising & Marketing Industry
  3. The Power of Census Data
  4. A New Way to Test Significant Differences
  5. Fin-Tech: How to reinvigorate your brand in a sea of sameness
  6. Research Norms: What are they and what they can tell you
Read an excerpt from our blog on the power of census data:

“The census is conducted out every 10 years. It counts all people – citizens and non-citizens. It is mandatory for citizens to respond to the census so that the government will have an accurate count of the population. This serves as the backbone of fair political representation and it plays a role in many other areas of public life.

Census data is some of the most reliable out there. As a result, companies including market research firms find this information essential. The statistics provide information such as gender, age, and household income. Also, it is possible to drill down the data by state, country, city, or even zip code.”

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Don’t Let Your Marketing Dollars Go to Waste
10 Jan 2020

So, you brought a new idea to the market. You have even gotten it funded. However, long term success is determined by finding the correct audience, identifying the right unique selling point, and understanding your purchase funnel. Research is a crucial way to make sure that your marketing dollars are spent correctly (and not wasted). Market research (at its best) is directly related to your marketing strategy. 

There are multiple steps in the research process that are important to take to make sure research is strategy-based. It’s not just your research methods, as any research could be used to inform marketing but it’s the overall approach to your research that will make sure that your marketing dollars don’t go to waste.

The Market & The Consumer

When launching a new project, there are two areas to consider: Where should you launch your product? And who are your customers?

So how do we answer these questions? Before commissioning any expensive primary research, it may be best to analyze secondary research (information that is already out there). For example, in a recent blog, we detailed the power of census data. You can learn a lot from existing studies!

Second, survey research gives an in-depth look into consumer insights. Surveys should be designed around a topic and with a clear strategic goal as a result. In other words, a company looking to design an ad strategy can use survey data to find out which media their target customers use, and advertise through those channels.

Third, qualitative research (e.g. focus groups, in-depth interviews) bring your consumers and data to life. In this type of research, you see people’s expressions and hear the consumer’s tone of voice. It also allows you to probe deeper into questions your company might have about consumer behavior.

Having a Clear Process so it Doesn’t go to Waste

Before even getting into the research, it’s very important to map out a timeline and the process of your research and stick to it. Marketing strategy depends on clarity, and having a step by step plan to accomplish the research is the first step to a direct conclusion (without any waste). 

Setting out time for each step, and understanding what each step in your research process is are key to obtaining results that help inform your strategy.

Having Clear Objectives: Spending your Marketing Dollars

One of the most important steps in this process is to map out what you are looking for. What are the objectives of the research? What will you do with the research? Make sure you are not researching for the sake of researching, research for a purpose. For example, if your research is too broad, you will end up just reporting facts without any actionable strategy points.

Conclusion

Clear objectives, clear processes, clear distinctions, lead to actionable strategy! It’s important to have clarity when conducting your research in order to have actionable results. You don’t want to muddy the research, or else you will not have actionable results that will ensure an efficient marketing strategy. 

Want to read more from Provoke Insights, find some more blog posts linked below:

  1. 2020 Trends: Advertising & Marketing Industry
  2. The Power of Census Data
  3. A New Way to Test Significant Differences
  4. Fin-Tech: How to reinvigorate your brand in a sea of sameness
  5. Research Norms: What are they and what they can tell you
  6. How Black Friday Can Hurt Your Brand

Read this excerpt for a blog from our series on Generation Alpha!

“Knowing your audience and prospects is a key way to improve your profitability! As a result, different generations have different behaviors, attitudes, and preferences. Thus, understanding the generation gaps will help you understand the needs of your customers. Generations give marketing strategists an easy way to target and focus their methods. 

Baby Boomers do not want to see texting acronyms; they are swayed by clear video, they care about their in-store experiences, and they like to compare prices. On the other hand, Millennials want to care about the product they’re buying, and want to have a positive impact on their community. In addition, Generation Z (those born after Millennials and before 2010) is most influenced by social media, as that’s where they receive most of their news.

There is a new generation on the block! Brands need to know how this audience differs from their current audiences. Provoke Insights will be releasing a three-part blog series to help marketers understand the newest generation, to reinvigorate interest. Generation Alpha, the children of Millennials, are making waves recently in the news. Coupled with their Millennial parents, a marketing buzz has started to precipitate around the arrival of these youngsters. But how do they differ from their parents? In other words, what differences will there be in marketing to Generation Alpha versus marketing to Millennials?”

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2020 Trends: Advertising & Marketing Industry
03 Jan 2020

Happy New Year, everybody! As 2019 and the past decade comes to a close, a new one begins. And as is a tradition here at Provoke Insights, time for our annual advertising and marketing trends article. In other words, a comprehensive look at what can you expect over the next 12 months. That is to say, what are in-house marketers and ad agencies up to?

A Decade of Change

The 2010s were a decade of change in the marketing and advertising world. Ad spend has shifted almost entirely to digital, in large part due to social media. Advertisers spend around $30 billion on advertising on social media. And advertisers spend a total of $57 billion on programmatic advertising (includes banner ads and advertising on Google and Amazon).

Surprisingly, video advertising is the end of decade trend for online ad spend, as connected video advertising is expected to reach $6 billion by 2021. It comes as cable cutters have driven down television’s stranglehold on the media marketplace.

5G’s Impact on Trends

The first big invention of the 2020s will be 5G. 5G is the upgraded cell service technology that will make phone speed incredibly fast, and is going to be further integrated in 2020. A study even projects that sales of 5G devices will increase to 73.7 million units by the end of the decade’s first year! 

How will this affect advertisers? Well, phone streaming is going to hit incredible high speeds, with better sound, and higher definition. Now advertisers will have to react to the market by developing more interactive creative, with high-resolution graphics and better sound. This leaves possibilities for a whole new wave of creative advertising to try and hold consumer’s attention. 

Amazon: How will Retailers Respond?

Amazon may have killed retail this last decade, as their online shopping service is now ubiquitous, and in-person retailers have notably struggled to keep up. What Amazon may have done best is integrating with brands to sell their products and taking a piece of the profit in the process. 

However, 2020 is the time that companies fight back against the omnipresent online technology giant. For example, Microsoft will be launching cashier-less checkout and dynamic pricing displays. The company Neighborhood Goods specializes in partnering with companies to create pop-up shops, which have made an impact as apart of the new experience-based shopping economy. And the Canadian direct competitor Shopify’s launch of fulfillment services makes it a strong challenger. Will they have a shot of dethroning e-commerce king? Unlikely, but they sure will try!

Research Trends

As the marketing world shifts, so will the world of research. And the research world is getting much more creative. As so much spend has shifted online, and as surveys generally have shifted online, new technologies are allowing market researchers to be more creative in how they collect information. 

One of these new trends is online artificial intelligence focus groups. New companies that have created focus groups that utilize AI are taking the research world by storm and allowing researchers to conduct larger focus groups and get results in real-time. Focus groups can consist of dozens of people now, take less time, and be conducted online from anywhere. Other utilizations of online surveys are launching, as quick surveys on websites as pop-ups are becoming more and more popular. Look for that to continue in 2020.

We hope you had a refreshing holiday season and are recharged and ready to go in the new year!

Sources: 

Fisher, Lauren. “US Programmatic Digital Display Ad Spending.” Nov. 21, 2019. Available at: https://content-na1.emarketer.com/us-programmatic-digital-display-ad-spending

Ryan, Jillian. “Ten Key Digital Trends for 2020 What Marketers Need to Know in the Year Ahead.” Dec. 9, 2019. Available at: https://content-na1.emarketer.com/ten-key-digital-trends-for-2020 

Read some of our most recent blogs here!

  1. Research Norms: What are they and what they can tell you
  2. How Black Friday Can Hurt Your Brand
  3. Why Trends are so Important in Marketing
  4. Experiential Marketing & Retail

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The Power of Census Data
27 Dec 2019

The last census that the US conducted cost the country $13 billion. It is no surprise that the census data is important.

So, what is the census?

The census is mandated to be carried out every 10 years by the US constitution. It counts all people – citizens and non-citizens. It is also mandatory to respond to the census so that the government will have an accurate count of the population. This serves as the backbone of fair political representation and it plays a role in many other areas of public life.

The information that is produced by the census is some of the most reliable data that exists because it is the only research study that encapsulates the entire population of the United States. As a result, companies including market research firms find this information vital. The statistics provide information such as gender, age, and household income. Also, it is possible to drill down the data by state, country, city, or even zip code.

Below are some examples of how market researchers use the extremely useful resource of census data:

Quotas

Market researchers use the census break down of the population to ensure that their sample is representative of the demographic make-up of the population that the study is targeting. In some cases, researchers use a sampling technique called weighting to help ensure accuracy.

Projections

When conducting survey research, often new segments or audiences are found. Using the census information, a researcher can calculate an estimation of the size of the population.

Where to Find the Census Information

The Census data is easily accessible to everyone. It is data that you have free access to, no matter who you are. The information is readily available here data.census.gov

The platform was recently updated and now includes several tools to analyze the data. Below outlines how to use the new website.

How To Use the New Census Database

The new census database makes it easy to find what you’re looking for with a table of options to mix and match from. There are a couple of ways to start your search. For example, if you are looking for general demographics and all of the different census surveys, click on the “View Tables” option on the home page. This will come up with a table and an option to pick a particular survey to view. This is the simplest way to get the general information if that’s what you are looking for.

census webpage

On the other hand, if you are looking to dig deeper into a particular category, use the advanced search, shown in the figure above. There is a range of filters for you to look at it, including years and geography. Within the geography, you can make your search as broad as the whole country, and as granular as a census tract, giving you many options.

Topics are within these filters, where you can choose between different categories, including the economy, education, employment, living arrangements, health, housing, and more. Once you choose a topic and geography, the platform will direct you to a corresponding table for what you picked.

The table feature is very easy to use. However, there are still a few glitches with downloading tables when you want to. Hopefully, because this is a new system, it will be fixed in the near future!

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A New Way to Test Significant Differences
17 Dec 2019

Testing significant differences can often be complicated. Try our new, free, Significant Difference Calculator! Our new tool allows you to test differences between more than one subgroup at the same time. It also allows you to analyze multiple attributes at once. It is no longer a tedious process.

To summarize, this tool tests significance between sample proportions. The confidence levels provide the probability that the difference presented is at least as large as it would have been if the two population proportions were equal.

Using a pooled sample approach, our tool runs 2 proportion Z-tests, by taking sample size and percentages into account. It allows users to test tables of proportions against each other, as well as download the results.

Please feel free to try the tool, thank us for the free service by sharing it on social media! Follow the instructions and try out the Significant Difference Calculator below!



Lastly, although you came for significant differences, check out more from Provoke Insights below. Accordingly, here are some of our most recent blogs:

  1. Research Norms: What are they and what they can tell you
  2. How Black Friday Can Hurt Your Brand
  3. Why Trends are so Important in Marketing
  4. Experiential Marketing & Retail

Especially, sign up for our newsletters here!

In addition, follow our social media accounts for the latest Market Research news:

Twitter: https://twitter.com/provokeinsights

Facebook: https://www.facebook.com/provokeinsights/

LinkedIn: https://www.linkedin.com/company/provoke-insights

Finally check out our most recent features in the news media:

September 11th, 2019: 40% of U.S. Millennials prefer crypto investments in the event of a recession: eToro Survey

July 31st, 2019: Jewelry Is About to Get its Own ‘Got Milk’ Ads

July 1st, 2019: 22 Top Advertising Research Companies 2019

Enjoy our Significant Difference Calculator, and stay on the lookout for more blog posts from us!

Fin-Tech: How to reinvigorate your brand in a sea of sameness
10 Dec 2019

Robinhood is currently one of the fastest growing online trading platforms. It is popular among Millennials. The key reason – it is commission-free. The company administers fees in the backend. Robinhood set the standard in 2006 by following this market: reinvigorate the market.

However, the traditional DIY investing platforms – Charles Schwab, eTrade, and others have very recently moved to a commission-free method as well. As Robinhood’s unique selling proposition was “Free,” how will it distinguish itself from the competition? The slogan “Say goodbye to commission-free trading” no longer works.

Robinhood also promotes itself as easy to use, but so does the competition (see eTrade’s slogan “Choose E*TRADE for Easy Tools & Research”). For an online category, this sector needs reinvigoration. It might be time to take on research to refresh the DIY investing industry and attract new customers. Here are a few market research methods that could benefit Robinhood and the online investing industry generally.

Secondary Research

Secondary research on the market is vital to understanding what the next direction that your brand needs to differentiate from the rest. This type of research is information that is already out there- some are in the public space, but others exist in a database that you need to pay for. For example, you can use secondary to help evaluate current market trends, sales by different companies, and ad campaigns run by various companies.

When it comes to online investing, there is plenty of available research for Robinhood to separate themselves from the competition. Past advertising campaigns and website traffic of competitors might be one example.

Understand What Your Prospect and Customers are Looking For

DIY investing platforms need to move beyond the functional attributes of cost and ease of use. The key is to understand better who are their customers and what are their ultimate goals when it comes to investing. While older generations, such as Generation X and Baby Boomers, seek stability, many younger generations are more apt to want to save enough money to enjoy experiences. It is vital to understand millennials’ attitudes and how this will impact a fin-tech brand’s strategy. 

Primary research such as focus groups, in-depth interviews, and surveys help determine how to understand the market better. Conducting segmentation research, developing personas, and understanding current brand perceptions are important ways to position the brands better.  In other words, to reinvigorate the market, you have to understand brand perception.

What’s Next for Robinhood?

There is a slew of market research options to find out what the market needs if you want to reinvigorate your brand. When it comes to Robinhood, their success forced their competition to adapt and change their policy and product offerings. Well, now it’s their turn to adapt and to understand that it’s going to take an all-hands-on-deck research approach. What do you think Robinhood should do next? How should fin-tech companies promote themselves?

Want to read more from Provoke Insights, find some more blog posts linked below: 

  1. Research Norms: What are they and what they can tell you
  2. How Black Friday Can Hurt Your Brand
  3. Why Trends are so Important in Marketing
  4. Experiential Marketing & Retail

Read this excerpt for a blog from our series on Generation Alpha!

“Knowing your audience and prospects is a key way to improve your profitability! As a result, different generations have different behaviors, attitudes, and preferences. Thus, understanding the generation gaps will help you understand the needs of your customers. Generations give marketing strategists an easy way to target and focus their methods. 

Baby Boomers do not want to see texting acronyms; they are swayed by clear video, they care about their in-store experiences, and they like to compare prices. On the other hand, Millennials want to care about the product they’re buying, and want to have a positive impact on their community. In addition, Generation Z (those born after Millennials and before 2010) is most influenced by social media, as that’s where they receive most of their news.

There is a new generation on the block! Brands need to know how this audience differs from their current audiences. Provoke Insights will be releasing a three-part blog series to help marketers understand the newest generation, to reinvigorate interest. Generation Alpha, the children of Millennials, are making waves recently in the news. Coupled with their Millennial parents, a marketing buzz has started to precipitate around the arrival of these youngsters. But how do they differ from their parents? In other words, what differences will there be in marketing to Generation Alpha versus marketing to Millennials?”

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Follow our social media accounts:

Twitter: https://twitter.com/provokeinsights

Facebook: https://www.facebook.com/provokeinsights/

LinkedIn: https://www.linkedin.com/company/provoke-insights

Check out our most recent features in the news media:

September 11th, 2019: 40% of U.S. Millennials prefer crypto investments in the event of a recession: eToro Survey

July 31st, 2019: Jewelry Is About to Get its Own ‘Got Milk’ Ads

July 1st, 2019: 22 Top Advertising Research Companies 2019

Keep on the lookout for more blog posts from us!

Research Norms: What are they and what they can tell you
05 Dec 2019

What are Research Norms? 

You have a survey result that says 67% of respondents state that the advertisement shown in the research is unique. What does that mean? Is that good compared to ads that are currently out there? That is where norms come in! 

In market research, norms (also called normative data or benchmarks) are established baselines to compare your data against. It allows you to determine if the results are above or below par. They are particularly popular in advertising and brand testing.

Going back to our initial example, two-thirds of respondents stating the ad is unique sounds excellent. But what if the norm for uniqueness is 80%? Consequently, 67% doesn’t sound so great anymore!

How Do We Get Norms?

To calculate and properly use norms, you have to use the same survey method and phrasing each time you run a survey. That way, the variables are the same over time, and there isn’t bias in your calculations. 

Norms can be established in multiple ways. You can have benchmarks against previous waves of your own research. A market research vendor can have an aggregate of all the surveys commissioned by clients that ask the same questions. These norms can also be sorted by industry.  

How Do We Use Norms?

We use norms to interpret the state of the market and how advertisements or concepts test relative to other ads or campaigns, respectively. 

Norms give market researchers the context to fully understand, interpret, and present new results based on the same standards. When working with a market research company, it’s essential to ask about the norms in their directory. If they do have norms you are looking for, you may want to include those norms in your survey. At Provoke Insights, we have a growing norms database, with answers on a wide range of attributes in an assortment of industries.

Issues with Norms

As with any market research method, if you aren’t too careful, you may misinterpret survey results and commit unfortunate blunders. From changes in trends to norms not testing the full competitive landscape, may negatively impact using these benchmarks. A blog post published by the Insights Association does outlines the issues to look out for when it comes to collecting and interpreting norms.  

However, overall norms can be beneficial in better understanding of how brands and advertisements compare against the rest of the market.

Want to read more from Provoke Insights, find some more blog posts linked below: 

Why Trends Are So Important In Marketing

Experiential Marketing & Retail

Check out an excerpt from our blog on why trends our important in marketing below!

“Let’s go back a few years to 2007. Especially, why don’t we think about GPS technologies. Back in the day, Garmin and TomTom were the two biggest GPS technology producers, and both were paid for services. But, both brands were sideswiped by Google who began offering free navigation via an iPhone app and on the web. As a result, in just 4 weeks, the valuation of these companies dropped! Can you imagine if these navigational systems had followed the trends that were happening outside of their narrow industry? Just imagine: we might be using our Garmin maps app on our phones for directions today! Thus, understanding trends is critical for a brand to stay fresh and competitive. ”

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Check out our most recent features in the news media:

September 11th, 2019: 40% of U.S. Millennials prefer crypto investments in the event of a recession: eToro Survey

July 31st, 2019: Jewelry Is About to Get its Own ‘Got Milk’ Ads

July 1st, 2019: 22 Top Advertising Research Companies 2019

Keep on the lookout for more blog posts from us!

Why Trends are so Important in Marketing
21 Nov 2019

Tracking Competitors

To begin with, let’s use our time machine and head back to 2007. In particular, think about GPS technologies. Twelve years ago, Garmin and TomTom were the two biggest GPS technology producers. At the time, Garmin was only looking at what TomTom was doing when it came to its competitors and TomTom was only tracking what Garmin was doing. 

As both brands were tracking other GPS navigational systems, they were sideswiped by Google who began offering free navigation via an iPhone app and on the web. 

As a result, in just 4 weeks, the valuation of these companies dropped! Imagine if these navigational systems had followed the trends that were happening outside of their narrow industry, we might be using our Garmin maps app on our phones for directions today. 

Understanding trends is critical for a brand to stay fresh and competitive. Keep these market research methods in mind to best follow the market.

Secondary Research

Maybe the most important method when it comes to understanding trends is Secondary Research. Secondary research is finding research that is already available. It is a great low-cost option to study industries that your business is not currently in. For example, if you are a bus company- you may also want to follow airplane trends. This way you can have a full picture of the transportation landscape.  In addition, secondary research can also keep you up-to-date regarding the latest technologies. 

Certainly, if GPS technologies were following how Google was developing their GPS technology for free use, they would have seen the way the trends were going. Consistently conducting comprehensive secondary research can always give you a state of the market and allow you to look at non-direct competitors to make sure that you’re not going to be blindsided the same way these GPS companies were.

There are a lot of free secondary research tools out there such as Google Trends and JWT Intelligence.

Brand Tracker

When it comes to understanding the market and landscape, nothing beats a brand tracker. A brand tracker is a survey that is conducted over time that evaluates a company and its competitors’ performance. In addition, the survey typically includes questions to evaluate if a company’s objectives are being met. The key to brand trackers is to not only follow your direct competitors, but also looks like those who may indirectly influence sales.

Among other things, brand trackers test the awareness of brands in the market space of a product. If Garmin and TomTom were using a brand tracker, they would have had a broader understanding of the market, and any trends that they might need to understand. The key to a brand tracker is both a comprehensive list of competitors, the actions that they are taking, and their reception from the public.

In conclusion, it’s vital to use market research to understand trends. Without staying up to date, your business might be swept out from beneath you. And if you are using shoddy methods instead of comprehensive research, you may fall to the wayside as well.

Want to learn more about Market Research? Here are some blog posts to check out!
  1. How to Avoid Advertising Mishaps
  2. Virtual Reality & Qualitative Research: Fad or Here to Stay?
  3. 6 Things to Watch Out for When Writing a Survey
  4. Marketing Strategies for Generation Alpha: the Newest Generation

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Follow our social media accounts:

Twitter: https://twitter.com/provokeinsights

Facebook: https://www.facebook.com/provokeinsights/

LinkedIn: https://www.linkedin.com/company/provoke-insights

Check out our most recent features in the news media:

September 11th, 2019: 40% of U.S. Millennials prefer crypto investments in the event of a recession: eToro Survey

July 31st, 2019: Jewelry Is About to Get its Own ‘Got Milk’ Ads

July 1st, 2019: 22 Top Advertising Research Companies 2019

Keep on the lookout for more blog posts from us!

Experiential Marketing & Retail
13 Nov 2019

The Retail Landscape is Changing: Experiential Marketing

Insanity is doing the same thing over and over again and expecting different results. Likewise, this quote can be applied to the hundreds of retail spaces closing their doors and moving to e-commerce. In other words, while many large retail stores are closing their doors, it might be important to ask, is this the only way to stay ahead in today’s changing marketplace? 

Accordingly, as many large stores are shutting their doors, Nordstrom is expanding. Last month, the luxury retailer opened a brand new New York City Flagship store. Not only is it unique for them to be opening a brick and mortar store at all, but it also opened a very unique store. As a result, the flagship is an experiential retail experiment. 

What is experiential retail?

  • Much like experiential marketing, experiential retail is an immersive experience. 
  • The concept aims to engage customers rather than sell to customers.
  • The customers’ senses should be stimulated by the experience.
  • It should go beyond what customers expect of a retail store. Something that they will consider shareable. 
  • The space should accommodate events and services, not just products. 
  • These events and services should accommodate the target audience’s real needs.

The Nordstrom location includes a martini bar in the middle of the shoe department, stroller cleaning, and appointments with a personal stylist in the styling lounge. It ticks all of the boxes. There are services, and events to keep the customers engaged. The entire space is aimed towards their target audience and should definitely exceed their expectations.  

The company threw a grand opening party and invited Instagram influencers. Namely, it felt like you entered the club where anyone who’s anyone should be seen. In addition, other companies in NYC have done something similar to their stores to stay relevant – Levi’s, FAO Schwartz, and Timberland just to name a few. 

Experiential Marketing in the Changing Marketplace

Experiential marketing is just as important to go along with these new stores. Particularly, it is a well-known fact at this stage that Millennials prefer experiences over things. Therefore, it is important for this generation to experience the brand to be won over by it. To sum up, this is why experiential marketing can be key too. As a result, the same rules apply as above. 

In conclusion, is experiential marketing the right move for your brands? In short, it is key to better understand your target audience. Thus, survey research or focus groups is a key method to better understand what your customers are looking for. 

Looking for more? Check out our other blogs on Millennials:

The Difference Between Generation Alpha & Millennials

Here is a brief excerpt from the article:

“Knowing your audience and prospects is a key way to improve your profitability! Different generations have different behaviors, attitudes, and preferences. Understanding the generation gaps will help you understand the needs of your customers. Generations give marketing strategists an easy way to target and focus their methods.

Baby Boomers do not want to see texting acronyms; they are swayed by clear video, they care about their in-store experiences, and they like to compare prices. On the other hand, Millennials want to care about the product they’re buying, and want to have a positive impact on their community. In addition, Generation Z (those born after Millennials and before 2010) is most influenced by social media, as that’s where they receive most of their news.”

Millennials, Fine Jewelry, & the Luxury Category

Want to learn more about Market Research? Here are some blog posts to check out!
  1. How to Avoid Advertising Mishaps
  2. Virtual Reality & Qualitative Research: Fad or Here to Stay?
  3. 6 Things to Watch Out for When Writing a Survey
  4. Marketing Strategies for Generation Alpha: the Newest Generation

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