Advertising agencies are facing a lot of adversity in 2018. With more and more big brands like Sprint, Netflix, and L’Oreal cutting their agencies to take their advertising in-house, ad agencies are scrambling to re-route. U.S. ad agencies are not at risk of becoming obsolete, reportedly bringing in over $48 billion in 2016 and employing over 200,000 people, but the growth in this industry is slowing. Ad agencies need to find new ways to add value to their client engagements, and keep profit margins in the green, which is why ad agencies need to implement market research into their strategy more than ever.
BETTER CLIENT OUTCOMES
Before creating an ad campaign, it is important to get background information on the client and their audience. While your client may have given you all the information they feel is pertinent to a successful campaign, research allows the agency to generate quantitative and qualitative data into marketplace dynamics, customer perceptions and behaviors, and reveal intelligence that can help to solve business problems and achieve favorable client outcomes. Additionally, it may shed light on potentially profitable opportunities for the client as well.
UNDERSTAND THE CONSUMER
You’ll want to ensure your messaging and marketing efforts are in line with your target audience’s needs and wants. The more you know about your client’s market, its products, consumers, and competitors, the better you can design a successful campaign. Understanding into how the consumer engages the products, trends and the customer journey is knowledge that is necessary for an effective campaign.
Launching an ad campaign is expensive, which is why it is so important to set yourself up for success. By conducting market research, you can test your concepts on consumers to find out which would be most effective. With online surveys, you can capture real-time feedback, and they are easier and less expensive than focus groups.
After launching an advertising campaign, it is imperative to have data to give your client an idea of the campaign’s success. Sales and other performance indicators may provide an idea of the campaign’s success, but with market research, you will be able to better understand what compelled consumers so you can build off that in future campaigns.
QuestionPro Audience provides our clients with access to more than 22 million active respondents, who are strategically recruited to participate in quantitative market research and live discussions. By implementing various recruitment methodologies, we make sure to provide the right kinds of respondents for your research. With industry knowledge and innovative tools, QuestionPro Audience always meets the rigorous demands of our clients. Contact us for your next research project.