5 ways that research can unlock your audience white space
Some aspects of your audience are known unknowns - you understand that a particular behaviour or attitude exists, but don’t know why…
But there are also unknown unknowns - drivers, assumptions and behaviours that you weren’t aware of in the first place. Both these elements might hide an opportunity to serve that audience, and research is the key to uncovering them.
Effective research lets you go to market with confidence. It’s about testing hunches, removing uncertainty, and uncovering those key unknown unknowns. It ensures both strategy and creative are effective on the audience - not just the boardroom.
Your audience loves to be spoken to about the things they truly care about, in the places they’re paying attention to. Do that, and you can deepen long-term loyalty and develop real brand love.
Here are five tips to using research with maximum impact when you’re identifying an audience whitespace:
1. Targeted research
Very few products or services have universal appeal, so unless you’re selling air, it’s always worth taking a targeted approach to research.
That means understanding your audience at a deep and meaningful level. You need to connect with them via emotional hooks, aligning with their mindsets and their values. Once you’re able to precisely define your audience by mindset, values, drivers and behaviours, you can target them effectively in your marketing.
According to a study by Nielsen, targeted advertising resulted in a 21% increase in sales compared to non-targeted ads. Another study by Bain & Company observed that increasing customer retention rates by just 5% can increase profits by 25-95%.
2. Use research to find out what your competitors haven’t
Instead of using research to confirm and re-confirm what everybody already knows about an audience, use it to probe into the untapped market segments. Find entirely new audiences you didn’t know about previously, and develop an understanding of what drives them.
It might be that no other brand is speaking to that audience directly yet - which means if you can pinpoint them and understand them on a deep level, you’ve got their ear. Research lets you size and prioritise these opportunities.
According to a study by McKinsey, companies that invest in research and development are more likely to outperform their peers by unlocking new audiences.
3. Innovate
Trends are hard to spot early, and even trickier to evaluate by their cultural weight. Are they going to last five minutes, or change the very foundations of your sector?
Smart research and strategy can drive innovation by digging into emerging trends, uncovering the unmet need at the heart of them, and giving you an understanding of their probable longevity. It’s a chance to test the maturity of a trend in the mainstream - how much has the metaverse permeated the popular consciousness, for example?
A report by Accenture found that companies that invest in innovation are more likely to grow revenue faster than their peers.
4. Focus on user experience
In a world of extremely high consumer expectations, it’s never been more important and expected to have a seamless purchase journey.
Any snag in the process can turn your audience off. Every touchpoint is an opportunity to engage and build rapport. Many brands think user experience is functional - it’s not. It has the power to reinforce your brand and product experience.
Do you know how your audience feels about the user experience or purchase journey you currently offer? Research can help with that. Asking the right questions uncovers the triggers to purchase, length of journeys, influences and more.
According to a survey by PwC, 73% of consumers point to customer experience as an important factor in their purchasing decisions.
5. Discover your true brand perception
What does your audience say about you when your back’s turned? How do they really feel about your messaging, and your overall image? You won’t find out unless you unleash targeted research into that area.
It’s not just about your brand perception today, either. Research and strategy work in this area allow you to future-proof your brand by tackling perceptual issues at their earliest stage.
According to a study by Harvard Business Review, strong brands command a price premium of up to 20% and have higher customer loyalty.
Research and strategy play a critical role in the games and tech industry when planning to reach new audiences. By investing in research and strategy, companies can improve their competitive advantage, drive innovation, improve the user experience, increase customer retention, and develop a strong brand image.
If you would like to discover more about our integrated approach and work together on a project, get in touch.
