Amy Garrick

By

Amy Garrick

Published on

January 29, 2020

Tags

market research

Looking back over the last year, LEWIS Research wanted to share some fun facts with you as we dive into the roaring 20’s!


In 2019, LEWIS Research conducted 22 quantitative research projects and surveyed almost 15,000 people (14,755) in 22 countries.

LEWIS Research Roundup

Our average survey length was 12 minutes 15 seconds.

We conducted projects for clients in the following industries: banking, FinTech, MarTech, telecommunications, food, wellness, software, real estate, technology, and security.

We also conducted 24 other projects in media measurement, marketing tonality, qualitative research (in-depth interviews), and media audits.

So, we have been busy! We have broadened our product offerings to include marketing tonality and media measurement.

  • Marketing Tonality: we conduct secondary research to provide a holistic view of a company and their industry, the challenges they will face, future trends to capitalize on, potential opportunities for growth, and the space the client occupies in the competitive messaging environment.
  • Media Measurement: we take an in-depth look at both the client and their competitors’ media coverage trends over a set period of time. Media measurement also works to provide insights on popular industry topics, the types of publications discussing those topics, and which brands are speaking about these areas in efforts to present themselves as thought leaders.

So why should companies do market research? There are so many reasons why research is a good idea. Have you ever seen a bad advertisement or tag line and wondered how it got to market without anyone raising an issue? A lot of companies think they already know their market or the right language to use, but what many people forget is the target market or audience is evolving and changing. Sometimes these changes are subtle and other times, we see big shifts in what consumers want. Research helps companies stay up to date on the changes in their industry and market and it helps to ensure they make educated decisions when they communicate across different channels. An investment of time and money in research can help prevent mistakes in brand communications.

Here are some reasons why it may be a good idea to conduct research:

why you need research

Establishing a company as a thought leader:

  • Conducting research can help clients bring their own data and perspective to the forefront.

Generating media buzz:

  • Can be a byproduct of any type of research project whether it is qualitative, quantitative, or mixed mode.

Creating relevant and shareable content:

  • Insights can be made into infographics, tweets, Instagram posts, blog posts, etc.

Providing background information for the sales team:

  • Research can help provide data and insights into customers or potential customers that the sales team can leverage during business sales negotiations

Understanding the target market better:

  • Research can help identify the needs and wants of a target audience so you can solve for the issues and learn how to communicate to your specific market more effectively

Tracking brand and customer metrics:

  • Many companies track certain metrics or KPIs to ensure that they are meeting the needs of their customers. Research can keep an eye on how the company is performing.

Creating a research-driven brand strategy:

  • If a client wants to expand into a new space or learn how to drive their business, research can help them to discover the best approach or unveil weaknesses in their offering before they change direction

Measuring brand impact in media against competitors:

  • If a company is spending money on PR, they may want to measure themselves against their competitors and find new ways to gain media coverage

Testing messages/content:

  • If a company is going to spend money on a campaign, it is worth the investment to ensure the content is right before it goes live.

In conclusion, there are many reasons or motivating factors for why a company may decide to do research. LEWIS helps clients decide which approach or method may be best and then makes recommendations based on timing, cost, and the needs of the project. Some of our projects took less than a week to conduct last year while others took six months.

Interested in our market research services but don’t know where to begin? Reach out to research@teamlewis.com with any questions.

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