Today’s post reviews two major keys to smarter market research, both of which are made easy with our franchise marketing automation software.
The Dynamic Duo: 2 Keys to Smarter Market Research
- Pinpoint marketing objectives and coordinate a team effort. SitePoint puts this tip at the top of their 21-point market research breakdown for good reason. Identifying your marketing objectives early is one of the most important things you can do to make your campaigns more cost-effective.
This tip also appears in the first chapter of the The Entrepreneurial Evolution, a new small business starters’ guide that’s been racking up 5-star reviews since its release. In Chapter 1, aptly titled “Aim Before You Shoot,” author LiorIzik poses a simple question: “How do you expect to get anywhere without an idea of where you’re going?” Let that sink in for a second.
Clear marketing objectives allows for targeted marketing, which is always more efficient than draining your budget creating impressions on people with no purchase intent. It also allows for smarter campaign assessments and adjustments, since you can monitor progress on specific goals, then tweak your strategy and repeat, rather than throwing money into general marketing and waiting for something to click. You’ll save a lot of money over time–as Izik says, if you don’t aim before you shoot, you’re just wasting bullets.
Identify your target audience, how many respondents you require, and what data you’re hoping to collect at the outset. Make sure that target group is relevant to your needs.
Our franchise marketing automation software makes it easy to identify and disseminate campaign goals through the entire franchise system. FranchiseSoft auto-generates monthly reports highlighting key performance indicators that you can use to map out your next objectives. Review exactly where your leads came from at a glance, then raise the bar for next month with a few clicks. Check your marketing budget and performance for single units or entire systems, all from the same app.
Once you’ve set campaign goals, you can effortlessly inform the entire franchise system (or a select few individuals) using our built-in messenger software, which also sends SMS and email from the same UI. You may also write a feature about your new marketing goals in your custom franchise newsletter or virtual brochure, or upload your new marketing campaign briefing materials to your private Intranet library so that other franchisees can access them anytime, anywhere.
- Leverage social media’s free qualitative and quantitative research opportunities. It’s no secret that social media is a goldmine for market research.
In Write Your Business Plan, the staff of Entrepreneur Media, Inc. praised social media as a “less-expensive research alternative” where business owners can ask direct questions and get feedback in real time.
Likewise, the SitePoint market research guide mentioned earlier stresses that researchers should “provide a place for open-ended comments” and “watch for and incorporate unsolicited feedback on social networks.”
In addition to qualitative, question-and-answer style research, social media’s “polling” options create excellent opportunities for quantitative data collection. Beyond its utility for market research, showing meaningful activity on social media (e.g. asking audiences what kinds of products they want to see, how they would improve existing offerings, etc) has direct marketing value, since your followers see your brand in their feed more often. Better yet: they see an engaged, socially active brand that cares about what their audience wants.
Our franchise marketing automation software is designed to streamline the social media experience so you can ask questions and collect data more efficiently. Our social media manager tools synchronize all of your social media accounts in one quick and easy process, putting all the “Big Five” social media platforms at your fingertips. Effortlessly port data from social media to your Intranet or reports, and vice versa.
Learn More About Our Franchise Marketing Automation Software
We’ve only scratched the surface of what our marketing module has to offer.
Book a free walkthrough and virtual tour of our franchise marketing automation software by calling 888-302-3676 today.