Imagine that you’re applying for a job to train a professional soccer team. The interviewer will ask you what your goals are, how will you help the team become better, how will you lead them to achieve those goals, etc.
Then, let’s say that you lead your team to the final game of a prestigious championship. You have to prepare your players to face other players that have been training hard and are very talented. How will you tackle this?
A business is successful if it is able to understand customer needs, offer solutions, and remain profitable. For a business to achieve this balance, it needs continuous market research. Businesses often dismiss the important aspect of market research when developing plans and strategies.
Gone are the days when marketers prepared marketing campaigns for untargeted masses. The digital age has widened the spectrum that now allows data-driven approach in terms of marketing. According to Forbes Insights, companies that use data-driven marketing are 55% more successful.