Domain 1: Marketing Research
Posted by Communications2 on Jul. 27, 2022 / Member Resource / Subscribe 0
The Power of Questions in Marketing Research: Unveiling Insights to Drive Strategy
Written by Bryan McCurdy, Hughes General Contractors
A colleague of mine often reminds me that “Numbers don’t tell stories, they ask questions.”
I’ll admit…I haven’t researched to determine whether or not she coined the phrase. But, it truly makes sense. Data and other results received from research reveals astonishing information when properly collected, analyzed and allowed to raise questions.
Take the time to ask yourself what questions your research findings raise. Does what you are selling need to be improved or clarified? Does your firm need to adopt a stronger go-no-go process that accounts for client, project, supply chain and delivery method risks? Is it causing you to question your pricing, message focus, time management or if you are over or under staffed?
While market research guides your marketing strategy and provides clarity and focus to where your efforts should lie, the research results need to be understood holistically.
One powerful way to ensure your research hits the mark is to begin with the end in mind; a tactic taught by the late Stephen Covey in The 7 Habits of Highly Effective People (yes, it works in the case of research too). Remember, research is to help drive strategy – be it a comprehensive marketing plan or plan of attack for winning a project – thus the questions you pose need to fill the holes of what you don’t know and/or test what you think you do know. With the end in mind, allow what you learn to be the basis of the questions that drive your final plan.
Don’t be fooled! Great research has a hidden trap. Enter the infamous Cola Wars and “New Coke.” Some of you may remember or hopefully have seen case studies on how in 1985 the Coca-Cola Company failed in an attempt to fill a niche it thought it recognized. In the company’s plan to take market share away from PepsiCo, it developed a sweeter-tasting product. A vast amount of resources were allocated to the project. Research and focus groups were extremely favorable towards the new flavor among those the company was targeting. But, the narrow focus of the resulting data failed to question – and therefore failed to understand – the impact of brand affinity and nostalgic significance that Coke’s original taste had on its existing consumers. The result was a marketing blunder costing over $34 million and a huge relaunch of “Coca-Cola Classic” less than one-year later.
What we can learn from this, even as AEC marketers, is how the wider environment and brand impact need to be taken into consideration as we develop our strategies and make business decisions. Research is only one part of marketing, it’s often the most effective and yet the most ignored.
Adversely, research can be costly, time consuming, and, if done incorrectly, can take you down an erroneous path. For example, let’s say your firm is known for design-building sports venues. Your boss comes to you and wants to understand market trends – so you spend some time on Google seeing what the notable design-build projects are and discover that boutique medical centers are trending. Okay, you have data – firms are making more money and there is a bigger pool of projects in the medical world. What I am suggesting in this article is that you don’t run to the next board meeting and explain how the business plan needs to change, until you let the data ask you questions. Explore and understand if medical centers are a good fit for your firm and its culture, is there room in the market for your firm, and if so, what changes would need to be made to make an offensive shift.
Okay, I know it’s truly an over simplification, but hopefully you understand the intent. Surface-level data can indicate a world of opportunity, but you have to allow it to ask the right questions and let it engage your curiosity before you accept it as professional revelation. It starts with finding research you trust that isn’t afraid to make you question your own strategy. I think of it like this, many of us have “that” friend that if and when they take the time to speak, we know we had better listen. Research is that friend.
As you work to implement strategies that promote brand awareness, improve your hit rate and drive sales, whether within an arena of marketing cubicles or as a department of one, dedicate a portion of your time to do holistic research; research inclusive of data, questions and answers.
Bryan McCurdy is an emerging marketing professional who works for Hughes General Contractors. He has a passion for people, relationship building and the AEC industry. He is known for his laugh, charisma and enthusiasm. He has 15 years in the industry and has held positions managing corporate assets, developing talent, and public relations. He has been with Hughes for seven years as the Director of Human Resources. When an opportunity arose to add to his experience and oversee Marketing and Business Development, he jumped at the chance.
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