Denver's Leading Market Research Agency
Market research builds the foundation for effective marketing efforts. Comprehensive research from a market research agency is the first step in creating a marketing plan, as it helps develop a better idea of where your business stands in relation to others and what kind of messaging will resonate with your target audience. Without proper market research, you rely heavily on a trial-and-error approach to marketing, which can get expensive very quickly. We can help you understand your market to develop a strategic marketing approach to fit your business and stay ahead of your competition.
How Our Market Research Agency Operates
FiG takes a logical and analytical approach to market research. To understand how you fit into your market, we examine the ins-and-outs of your brand, your industry, your competitors, and your target audience.
As a leading Denver market research agency, we rely on data and analytics to develop a comprehensive marketing strategy customized for your business. The first thing we do when a client comes to us is perform a complete brand exploratory-audit. Through this process, we examine the strengths, weaknesses, opportunities, and threats (SWOT) of and to your company, while also analyzing the nature of your industry, and how your competitors operate.
Our brand exploratory (also known as a brand audit) seeks to uncover how your brand is perceived by your customers, where your business can grow, how your brand is differentiated from the competition, and what value your customers find in your products or services. By the end of our brand exploratory, we have a clear picture of where your marketing efforts need to be focused to make the most impact.
Many businesses find themselves with a disconnect between their ideal audience and the target audience they should really be talking to. Your ideal audience may be too broad or too niche, or they may not be receptive to your marketing because it lacks the right insights to forge a connection. Through our tried and tested methods as a market research agency, we can discover how to effectively communicate with your audience, uncover new and receptive markets for your business, identify buyer personas to guide your communication efforts, and develop messaging strategies that make an impact on your target audiences.
How Our Market Research Agency Gathers Data
There are a variety of methods we use to gather data, both primary and secondary, but as a brand research agency, we are acutely aware of the impacts that faulty, or skewed, data can have on a brand. Our processes allow us to collect accurate market research data in fair and unbiased ways.
Primary Market Research
Primary research is the best kind of data to obtain, as it’s collected straight from the source and it directly answers questions that can guide your marketing strategy. We collect our primary market research through a handful of qualitative and quantitative methods.
Market Research Surveys
A low cost form of quantitative research, surveys can be a very accurate and powerful tool, when formulated correctly and delivered to the correct audience in a large enough sample size. By carefully constructing questions to remove bias and not lead respondents, we can uncover consumer insights that help make strategic decisions.
Market Research Interviews
This qualitative research technique, used by many brand research agencies, delves deep into the thoughts and feelings of your stakeholders. These can be used both internally and externally.
Market Research Focus Groups
Usually conducted with four to ten people, focus groups answer specific questions that market research agencies want to understand on behalf of the client. For roughly one to three hours, our moderator will facilitate a conversation with the participants to uncover their thoughts and feelings about a particular topic, resulting in extensive qualitative data that our research team will transform into actionable insights.
Secondary Market Research
Secondary research is a great starting point or supporting effort for market research agencies to rely on. It is cost effective for the client and often takes less time. Compiling insights based on the findings of previous research and outside studies that may not have the same research objective as the client, but can provide valuable information offers a win-win scenario to organizations looking to gain a better understanding of their target audience on a strict timeline. As a top market research agency in Denver, FiG will not solely depend on secondary or primary research, but rather integrate the two approaches to develop a complete picture of your company’s situation.
Leverage Key Insights & Transform Your Business
The ultimate goal of the entire research process is to develop actionable insights to improve your business. These may be the bits of wisdom extrapolated from your target customers in a focus group, the differentiating factors of your competitors identified through a SWOT analysis, or informative data based on previous studies. These insights will spark the fire of your marketing strategy and help push your company towards a more profitable future.
Every organization can benefit from knowing more about their target audience. Whether you start with a SWOT analysis, a target market examination, or primary research strategy, you’ll be glad that you invested in market research and will see it pay off in spades.
Contact FiG Advertising + Marketing today to see how our market research agency can guide your communication strategy.