Key Benefits of Quant Research for Brands

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Key Benefits of Quant Research for Brands

Quantitative research is an essential piece of the puzzle for any brand trying to build strong equity in modern marketplaces. While sales data is an extremely reliable and functional form of measurement for your brand, it alone is not enough for developing frameworks for growth.

Quantitative research can help measure what’s missing from your knowledge – the more intangible attributes, how many people know your brand, care about your brand or want your brand to do more. It can help improve your marketing spend, spur innovation, identify any issues or problems with your brand and provide insight into the consumer’s attitudes toward your brand on a large scale.

The real benefits of quantitative research in brand marketing are simple and effective:  Lets have a look at each of these benefits:

#1. Improve your brand’s marketing spend efficiency

  • Quantitative research allows you to track the performance of your brand with consistent and reliable numbers. There are some common metrics used by most brands, such as brand health indicators including brand awareness, or usage, but it is up to each individual brand to identify its own key performance indicators, based on which metrics are required to help the brand marketer align and drive the goals of the business.
  • Brands can use metrics in conjunction with marketing tactics and activities to determine their return on investment. A common example of this is measuring the key brand metrics before and after an advertising or promotional campaign. This will allow comparability across two different points in time and identify the positive, negative, or lack of impact the campaign made upon the metrics. It’s important to take these learnings into your next campaign so you can build on what works and make improvements where necessary.

#2. Identify problems with your brand

  • Quantitative research can identify real problems with your brand at both the broad and minute levels.
  • A broad example might be your brand having particularly high awareness but low conversion. Quantitative research can help you pin down the key issues and drill down into minute detail that can have a big impact (butterfly wings).
  • It can help to identify poor results from customers of demographic, behavioural or attitudinal nature including which elements of your campaign negatively impact on whom.
  • Quantitative research can also tell you which brands these people are turning to instead of you and what your competitors are doing better than your brand is right now.

#3. Gauge accurate brand perceptions on a large scale

  • After working closely with a brand for several years you may feel you know exactly where it stands in the marketplace, and you are probably right, but is necessary to gauge the way your customers view your brand.
  • Quantitative research can build upon work done in internal workshops or qualitative research to create a substantial and accurate picture of the whole marketplace.
  • With a simple list of key brand associations or positioning statements, you can gain a true reflection of what the audience believes on a large scale, helping you identify areas that need strengthening or highlighting in your next set of communications.

#4. Focus and inspire innovation at the front end

  • Quantitative research is a valuable tool in the market research toolbox for developing new products, ideas, advertising creative, or concepts.
  • Quant is often used at the back end of the innovation cycle to test a range of fully formed concepts to judge which should be put forward for launch. However, it is often neglected in the earlier stages of the process and can be a real asset in assisting early decisions and establishing a clearer direction for the NPD team to follow.
  • Quantitative techniques can be used to measure the importance of general themes, needs and attitudes held by a customer base that can inspire NPD ideas and ensure you are heading the right way from the start, rather than relying on course correction.

#5. Spur innovation at the back end

  • Once you have successfully established the direction of your new creative or product using guidelines from quantitative research. It’s time to take your ideas and flesh them out into fully formed concepts or pieces of creative.
  • The innovation process can be streamlined with qualitative research, but we’ll save that discussion for another blog.
  • Once you successfully narrowed down your ideas to a few key candidates, quantitative research can come in and help finalise a decision. This is important when you and your team might be at an impasse and cannot agree on the final idea(s) to go with. It also gives a reliable and large-scale data to base your decisions on – feeding the business plan with potential sales figures and giving the marketing team core and secondary targets for launch.

By |February 9th, 2018|Marketing|0 Comments

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