hot-desk-market-research-8pp-a5-final

5
I N T E R N A T I O N A L M A R K E T I N G T H A T C O M M U N I C A T E S Hot desk trade secrets for great marketing communications research

Transcript of hot-desk-market-research-8pp-a5-final

Page 1: hot-desk-market-research-8pp-a5-final

I N T E R N A T I O N A L M A R K E T I N G T H A T C O M M U N I C A T E S

Hot desk – trade secrets for great marketing communications research

Page 2: hot-desk-market-research-8pp-a5-final

In the hot seat – getting the informationThe research process can be a significant undertaking developing the necessary data from scratch is a labour-intensive process. It’s for this reason that the collection and collation of pre-existing information – commonly referred to as ‘desk-based’ research – is often the most attractive option for a marketer.

When carried out effectively, desk-based research provides a wealth of rich information to inform and shape a communications strategy, at relatively low cost and within a short timeframe. And the internet has almost completely revolutionised the process, placing thousands of relevant and reliable information sources just a mouse click away.

However, with so much potential information available, desk-based research can seem a daunting task, and interpreting the data to form a coherent analysis is a task that must be carried out with a great deal of care and competency. Unsurprisingly, many marketers look at the process with trepidation. However, there’s no need to!

BDB | www.bdb.co.uk | [email protected] | +44 (0)161 925 4700 3

Top tip: When carried out effectively, desk-based research provides a wealth of rich information to inform and shape a communications strategy.

ContentsIn the hot seat – getting the information 3

Think PEST and SWOT 4

What are we looking for? 4Overriding themes

The building blocks of good research 5

1: Find out what you already have

2: Make the most of official statistics

3: Online data sources

4: Get to grips with the media 6

5: Don’t ignore social media

Making sense of it all 7

Useful research sources 7

Introduction

Few marketing professionals would disagree that a communications campaign needs to be underpinned by a clear and well-defined strategy, if it is to successfully meet and exceed its objectives. However, while a ‘strategic approach’ is held up as industry best practice, a lack of awareness of what truly makes a plan strategic means that campaigns can all too often fall short of the standards required to truly meet the mark.

A strategic campaign is best defined as one in which a rigorous initial research process has been engaged in, and the resulting insights used to form the foundation for all ensuing activity. These insights allow for an evidence-based prioritisation of the issues that should be engaged, and the relationships that should be developed, over the course of the campaign. They also enable the identification of any threats and opportunities that will impact upon an organisation and its stakeholders.

Without this initial intelligence, it will be extremely difficult for an organisation to engage meaningfully with key decision-makers on the issues that matter. This is particularly true in b2b markets, where upcoming issues are often complex, multi-faceted and transnational.

This guide provides an overview of some simple steps to ensure your campaigns are firmly grounded in strong evidence-based foundations – and ultimately deliver better results.

Page 3: hot-desk-market-research-8pp-a5-final

As a first step, connect with relevant contacts in other departments. Let them know what types of data you are looking for and why. You may be surprised at what they provide.

2: Make the most of official statistics and data

Official data sources are a fantastic resource when searching out those key ‘meta-trends’. In the UK, for example, the Office for National Statistics houses a vast database of social and economic information, which can be tracked over a number of years, while the Europa website contains many statistical reports covering the EU.

Government departments’ websites can also be useful for gaining deeper insights into key issues and getting to grips with upcoming hot topics. The UK Government website provides links to all its departments – as well as their various executive and arm’s length bodies – making it a very useful resource for any researcher. All UK departments are also required to establish and regularly update a four-year ‘business plan’; a great way to plan ahead for impending initiatives and agendas, these can all be found on the official website of the Prime Minister’s office.

What are we looking for? Overriding themesThe main areas that need to be considered in a research project are far reaching, but can largely be broken down into the following broad categories:

• ‘big picture’ issues – understanding the external factors that are, or will soon be, impacting on an organisation and its publics

• stakeholders – identifying the key audiences an organisation should prioritise its communications with, and the best ways to reach them

• the competition – analysing the ways in which industry peers are positioning themselves and the activities they are undertaking

It shouldn’t be forgotten, however, that a thorough marketing strategy should also involve a rigorous internal analysis. After all, the best thought-leadership positioning will ultimately fail if an organisation’s actual actions, culture and values do not align with the outward perception it is trying to create.

BDB | www.bdb.co.uk | [email protected] | +44 (0)161 925 4700 BDB | www.bdb.co.uk | [email protected] | +44 (0)161 925 4700 4 5

The building blocks of good researchWith the scope of a research project defined and analytical tools at the ready, the next step is to start collecting the data. To get your market research off to the best possible start, follow these five key tips:

1: Find out what you already have

A potential easy win and handy starting point for the research journey, all desk-based research should kick off with an assessment of existing internal information.

It’s often the case that, over years of doing business, an organisation has amassed a rich array of market insights, competitor knowledge, and expertise in key industry issues. However, a great deal of information may not have been collected or created for marketing purposes. So while an organisation may have existing intelligence which could be used to position it as an industry thought leader, it may be hidden away in, say, internal NPD folders.

Top tip: Make the most of existing information. Get all departments involved.

Top tip: Begin by identifying and categorising all key external trends and issues with PEST and SWOT analysis.

Think PEST and SWOTStrategic planning should usually begin with the identification of the key external trends and issues which will ultimately shape the campaign. As well as preparing an organisation for any future communications activities it may need to undertake to maintain and protect its reputation, issue identification also allows for the development of pertinent thought-leadership activities. However, attempting to identify all ‘big picture’ external factors is a tricky task, which is why analytical tools can be helpful in guiding this research.

PEST analysis is a strategy borrowed from business literature, and sets out four areas that can affect an organisation: Political, Economic, Social and Technological. By separating out external factors in this way, it becomes easier to start searching for the most important factors in each area that is likely to impact an organisation and its stakeholders over the next few years.

Placing an organisation within the context of these issues can likewise be a complex task. Fortunately SWOT analysis is another useful tool that can demarcate and simplify these considerations. The first two elements of this analysis, Strengths and Weaknesses, are largely based on internal factors, and are helpful in considering whether an organisation’s communications objectives align with its actual actions, cultures and values. The second two considerations, Opportunities and Weaknesses, are usually externally driven and linked to the issues uncovered during the PEST analysis. While PEST is used to identify the key issues, SWOT provides a framework for considering how an organisation can react to these factors.

Page 4: hot-desk-market-research-8pp-a5-final

Making sense of it allOnce the information is collected, it may not jump out with any immediate answers. It’s likely that the data will be spread across a multitude of Word documents, Excel spreadsheets and weblinks.

The task is to unite all this disparate information, analyse it, and package it up as a coherent report which offers a roadmap for the campaign delivery.

It’s useful to pull the information together using PowerPoint. With fewer opportunities for lengthy descriptions and a focus on the visual, PowerPoint forces you to distil the information into an easy-to-digest format, simultaneously helping to pull out the overall key learnings and recommendations.

Where possible, use striking statistics to back up assertions; pick out trends that can be tangibly demonstrated; and provide visual examples. Reams of data on Excel may seem boring, but graphs and charts can bring it to life and help identify trends and correlations. Need inspiration? Have a look at Information is Beautiful.

BDB | www.bdb.co.uk | [email protected] | +44 (0)161 925 4700 BDB | www.bdb.co.uk | [email protected] | +44 (0)161 925 4700 6 7

As an international business-to-business marketing communications agency, active in over 25 countries, it’s the high level of service we achieve through our streamlined global approach that retains business.

Whether we’re working with a winner of the Queen’s Award for International Trade or a company that’s making its first forays into Europe or the USA, we’ve found that our insight and experience really helps build our clients’ brands.

And importantly, client sales teams, whether in-house or distributors, gets the local language support they need to open dialogues with prospects and win business.

5: Don’t ignore social media

There’s a whole world of knowledge available to be gleaned from expert commentators on social networks. Twitter is frequently the place where hot-off-the-press news first breaks, while experienced trade pros and even journalists are usually more than willing to share their insights on Linkedin and SlideShare.

Don’t be passive when using social media for research – put your head above the parapet and actively seek out information. People turn to social media to be social – they want to share, interact and discuss. Savvy researchers can gather a great deal of unique, first-hand intelligence by joining relevant Linkedin groups and asking topical questions, or by putting out informal survey questions on Twitter to gather targets audiences’ real feelings on issues.

3: Online data sources

There’s a wide range of highly respected non-governmental organisations which provide statistical data on key trends. Many of them collect information of much greater relevance to commercial organisations than the data gathered for official reporting purposes. While some – such as Ipso Mori – provide many reports free of charge, specialist market analysis often comes at a price. Good paid-for sources include Euromonitor International, Mintel and Datamonitor, and there are also some useful paid-for report aggregators, such as Report Linker. These resources allow users to search for reports from a wide range of sources.

4: Get to grips with the media

As well as providing an understanding of the opportunities to contribute to top tier media titles, analysis of the trade press is also one of the most effective ways to understand what the key issues are and how industry players are engaging with them.

A detailed review of the top tier media titles over a period of several months is also critical to carrying out accurate competitor analysis. It enables marketers to assess exactly how key industry players are positioning themselves, the ways in which they are contributing to current debates, and, crucially, areas in which they are not taking ownership.

Top tip: There is a vast amount of great information out there – make it work for you. Both government sources and research organisations create vast arrays of free-to-use data.

Towards the finish lineIf you’ve taken all these tips on board you should be well on your way to building a thorough framework for an authoritative and influential marketing campaign.

Page 5: hot-desk-market-research-8pp-a5-final

BDB BDB AsiaCraig Court, 25 Hale Road, A ltr incham One Raff les Place, Tower 1, Level 24Cheshire, WA14 2EY, UK Singapore 048616Telephone +44 (0)161 925 4700 Telephone +65 6408 0738

www.bdb.co.uk www.bdbasia.com.sg @bdbmarketing