While marketing is incomplete without the brilliant minds that put the hard work into creating astounding strategies, everyone could use a little extra help. The creative genius and intelligence from collected data work hand in hand while formulating marketing plans and campaigns, which is why market research is one of each agency or organization’s first and foremost priorities. However, the worth of using a tool specifically made for market research overweighs using integrated ones or simply relying on human talent to mine data. In this blog, we will address the importance of using marketing research tools as professionals to help you improve your processes.
- Tap into a huge pool of data: If you subscribe to the service and help with a market research tool, the service providers already have an existing database of rich information that could help your organization a lot. If you’re selecting to opt for a Cloud-based application to help with market research, it will also ensure that you are privy to real-time changes in trends and competition analysis without compromising your privacy.
- Use the help of niche experts: Marketing research tool developers or ERP system vendors are niche experts who understand the nitty-gritty of every aspect under this process. While a marketing professional or a team of marketing staff may have various areas of expertise, research is a core aspect that not many drills down into. Using the help of such tools can help your staff operate more efficiently by giving them the data they need to work with, hassle-free.
- Refine data while avoiding false tests: While conducting physical market research on the field was excessively challenging in the last year and a half, virtual research took the forefront and helped detect the upcoming trends and consumer behavior. The accuracy of the tests conducted and parameters selected have greater accuracy while using a tool specifically devised to find such data.
- Reduce human effort: Rather than having your marketing professionals fret over conducting research from scratch, letting them use the help of a marketing research tool will lessen their burden, thus allowing them to channel their productivity and focus towards the other aspects of marketing such as assessment and strategy building.
- Cost Saving and RoI: It may seem like a capital expenditure to invest in marketing research software, but if you subscribe to Cloud-based SaaS, they usually have a monthly model that helps you pay for only what you use. This saves money that would be otherwise spent bringing in a research specialist or conducting extensive surveys to acquire data that these service providers already actively collect.
Now that we have discussed the advantages of such specialized tools above, an organization has two options. The question of whether to invest in a tool meant solely for research or purchasing an entire application that offers market research as a critical feature depends on your priority. Special niche tools are your answer if your industry relies heavily on the research element to track trends and pivot them in favor of the brand. Go for the packaged software if you’re under a limited budget with a fair emphasis on marketing research. We hope this helps!