+31 (0)70 743 14 13 info@bealegend.nl
Why do I need market research?

Why do I need market research?

by | Apr 18, 2020 | DISCOVERY PHASE

WHAT IS A MARKET RESEARCH?

Market research has developed exponentially over the years, thanks to the rise of social media and mobile devices. Basically, market research contains the action or activity of gathering information about customers’ needs and preferences. It has become easier and faster for researchers to reach out to more people than ever. This has led to more generated insights and a more comprehensive understanding of nowadays customers. On the downside, market research companies became more intrusive, leading to breaches in privacy and manipulation of public opinion. Could you imagine what will happen in the next decade? Will new trends in market research emerge for the better or worse? We’re witnessing glimpses of what to expect in the next decade, both exciting and scary.

WHY SHOULD I CONDUCT MARKET RESEARCH?

Market research helps you comprehend the demands of your customers, detect more business opportunities, plan the perfect marketing campaign, minimise loss, and keep track of your competition. It allows you to classify your objectives while following the current trends. Whilst taking advantage by reaching out to your target audience. Identifying problems before they happen is crucial if you want to grow. Effective market research will not only allow you predict some of the challenges that can occur but also it will verify market needs. Improve your company offering and customer experience. Your solution might seem to be a proper market fit, but if it’s not the case, you’re in great trouble. The process of market research is designed to reduce the risk and to make your marketing strategy cost-effective for your business.


from what we think to what we know!
the four market research metrics

1. basic Market research data

In conducting your market research, you will collect two types of data: primary and secondary. Primary data is data that comes directly from the source: potential customers. You can compile this information via surveys, focus groups and other methods. Secondary data involves collecting statistics, reports, studies and other data from companies such as government agencies, branch associations and your local chamber of commerce. 

blank
blank

2. Conclude if your value proposition is unique

Your proposition describes why others should use your company products or services and not the competition. A particularly useful data collection method in this area is the use of focus groups. Get some groups of potential clients together and tell them about your ideas. Tell them how your ideas are unique. Tell them how you would want your program to be seen (it’s positioning). And most importantly ask them what they think.

3. Conclude if YOUR product meets YOUR customer needs 

How can you develop a product with the features and benefits to meet that unmet need? How can you ensure that you have the capacity to continue to meet the demand? This is where customer focus groups can really be of value. Conduct some customer focus groups, including asking them about their preferences, unmet needs and how those needs might be met. Run your ideas past them. Don’t forget to ask them what they would need to use your services and what they would pay for them. One of the best ways to make this conclusion is to conduct an evaluation. An evaluation often includes the use of various data collection methods. For example; observing and interviewing clients. Developing white papers or conducting a product field test, or pilot.

blank
blank

4. CONCLUDE IF YOUR ADVERTISING AND PROMOTIONS STRATEGIES ARE EFFECTIVE

One of the best ways to collect these insights is to evaluate the results of your advertising. This could include the use of several data collection methods among your customers. Including observing and interviewing customers. Administrating questionnaires with your customers and if possible even developing case studies or ghost blogs.

“
THIS IS HOW WE WORK

Turn ideas into action! Be A Legend makes sophisticated research simple. We help you identify your opportunities to serve various groups of customers. Be A Legend does this by examining the size of the market and how many people might have an unmet need. We help to determine the best methods to meet the unmet needs of your target markets. Last but not least we clarify your unique value proposition.

 

Ready to get started?

Contact Us
How to conduct competitive research

How to conduct competitive research

by | Apr 18, 2020 | DISCOVERY PHASE

WHAT IS A COMPETITOR RESEARCH?

Competitive research is an important strategy especially in any marketing strategy to observe, analyse and anticipate changes in its target market.
Competitor analysis helps you find the strategic choices of other companies. It helps you understand the advantages and disadvantages of your competitor’s choices. Their working methods in content, products, recruitment, pricing, social media, marketing and more. It helps you effectively deal with your competitors and gain an edge over them? 

Why should I conduct COMPETITIVE research?

Competitive research arms you with the ability to identify industry trends and adapt to competitor campaigns or strategies in order to maintain your ground or out-compete them entirely. A competitor analysis lets you uncover the weaknesses of those who stand in your way. Warning! Before analysing your competitors, think about what you are going to do with this information. Without a plan for implementing your product, website, or quality brand content, the information collected will not be useful to your business. Before you start your analysis, you need to understand your goals and meanings. Try to articulate what market it is that you serve. Who are the customers in this market and what problem, need, or wish are they experiencing? Which brands are currently satisfying these needs and how do these brands differ? If there are multiple products tailored to different market segments, try to define the ways in which these products can be grouped together or set apart. Make sure you have these clear before you undertake the 7 steps. 


7 steps how to conduct YOUR competitor research

1. List YOUR COMPETITORS

Identify and list your direct and indirect competitors. As you’ve established some broad categories before starting you should now look at direct and indirect competitors to your products/services. These include any company that sells a similar or identical product or service as your company. If there are many competitors in your market, choose a handful of competitors that you believe are the largest threat to your business. Make sure to think about where the market is heading. Your goal is to understand the ins-and-outs of every business that poses a threat. Try to list at least 5 competitors (if possible) in each of these categories.

blank
blank

2. RESEARCH YOUR COMPETITORS CUSTOMER EXPERIENCE & WEBSITE

Once you’ve found your main competitors, set your criteria, and chosen your competitive analysis framework, you can really begin running your competitive analysis. Analyse each competitor against your list of criteria, and answer all the questions relevant to refining your company processes. After collecting all the information about your competitors, put all the data together and see exactly where your company stands in comparison to your competitors.

Why is it important to track your competitors’ website, founding date, fundraising rounds and employee count? So you can use it as a benchmark against your own growth. If your company is five years old, how fast did your competitor grow when it was at your stage? How many customers did it have? How much revenue was your competitor generating? Once you’ve gathered your data, its best to organise the information in a table format.

3. COMPETITORS MARKET POSITIONING

Now that you’re done collecting company and website information about your competitors, it’s time to dive deep into their market positioning. Competitive positioning is about defining how you’ll “differentiate” your offering and create value for your market. It’s about carving out a spot in the competitive landscape, putting your stake in the ground, and winning mindshare in the marketplace. Being known for a certain “something.” You can provide the most comprehensive offering, the best offering, or the cheapest offering, but you can never provide all three. Keep it simple.

blank
blank

4. PRODUCTS & PRICING

 After positioning your company it is important to analyse your competitors’ product and service offerings in terms of features and value gives you an idea of the decision-making process your customers go through. Also try to take a look at the competition’s pricing structure. Include detailed information such as warranty options and service fees. You can also make observations about their subscription services – do they have monthly or quarterly options or is it a lifetime fee? How does their pricing compare to yours? If you notice your pricing is drastically different than the rest of the market perhaps it’s time to reconsider your strategy. 

5. EXTRA SERVICES & PROGRAMS

Check if your competitors have any other extra services or programs which are unique to the rest of the players in the market. Get inspired! While digital channels are key in today’s marketplace, you also need to pay attention to offline channels like events, meetups, conferences, and direct mail. This is where face-to-face interactions occur that are often the key to establishing connections and sealing deals. You can usually find out information about offline events by visiting the “Events” section of your competitors’ websites and also searching for their names in relation to conferences and events on the wider web.

blank
blank

6. ONLINE REVIEWS CHECK

Whilst still on your hunt for patterns that help you identify why your customers are choosing your competitors. Researching product reviews can help you get valuable voice-of-customer data.  Including pains and problems that you can use to develop your own strategy.

Customer reviews are also a great place to find so-called “trigger events” that lead customers to look for a new product or service solution. For example: if a business opens a new location, it needs services that will help find a new office, set it up, and move furniture. Therefore, opening a new office can be a trigger for searching for a solution that helps companies assist in this process.

This is an important part of the buying process and customers are usually happy to share this information in their reviews.

7. SOCIAL MEDIA

You and your competitors are competing for the attention of potential customers. That’s why it’s useful to know how your competitors use social media channels to reach their target audience.
Example questions are:

  • Where do your competitors advertise?
  • What keywords do they buy on Adwords?
  • Do they advertise on Youtube, Facebook, Linkedin, Twitter or other social media platforms?
  • Do your competitors focus on selling in specific verticals?

 

blank
blank

8. FIND YOUR OPPORTUNITIES

Now that you’ve discovered some of the biggest differences between you and your competitors, it’s time to find a way how you can use this information to improve your own business results. Your competitive research should reveal at least one area your business can improve on. 

Keep in mind that competitive research is an ongoing event. Ongoing monitoring is necessary to ensure that you are staying competitive in the marketplace.

“
THIS IS HOW WE WORK

Together with you and your team, Be A Legend will deep dive into the world of your competitors. Conducting surveys, personal interviews and online and offline research. Be A Legend will collect all insights and prepare a report including an overview of opportunities to beat your competitors.

Ready to get started?

Get in touch
How to create a modern customer journey in five stages

How to create a modern customer journey in five stages

by | Apr 7, 2020 | DISCOVERY PHASE

WHAT IS A CUSTOMER JOURNEY?

A customer journey maps the entire customer process. It starts with your customer searching for a product or service to buying your product or service. And it ends with your customer leaving or becoming an ambassador. Preferable, a customer stays with you as long as possible. Capturing and visualising each phase and touchpoint of your customer process in one overview will help you find new opportunities to improve your customer experience.

WHY BUILD A CUSTOMER JOURNEY?

Mapping your current customer journey will give you an overview of all your growth opportunities. By visualising the journey covering all of the various touchpoints and emotions, across all possible channels will give you in-depth insights. These insights will help you find new opportunities to further improve the customer experience. By paying real attention to your customers and their experience, you will achieve a much higher profit in the long run.

 

5 stages of a MODERN customer journey

1. INTEREST & AWARENESS

What does awareness mean in terms of the customer journey? Awareness is some form of advertising that grabs the customer’s attention and has them interested in your product or service. The different forms of brand awareness in terms of marketing  has transformed radically over the years. We started to include a variety of online marketing tactics such as: social media advertising, online advertising, search engine advertising and more.  Digital advertising platforms allow for advanced targeting as well as proof of performance metrics. Which offers businesses a chance to see actionable return on investment (ROI). Digital advertising has become so advanced that you can be confident your message is displayed in front of relevant target audiences. Today, digital marketing is one of the strongest incentives in regard to the first step in the customer journey. 

MAKE IT EASY FOR CUSTOMERS TO FIND OUT ABOUT YOUR BUSINESS, PRODUCTS & SERVICES 

blank
blank

2. SEARCH

Before Google existed, marketing looked like this: A customer would be attracted to a brand through an advertisement. The customer would experience their “first moment of truth” as they made a purchase at the business. Depending on the customer experience, the customer would share their thoughts via word of mouth. Now we have Google! And the journey now includes the online world. A local business needs to be found online! Why? Because part of the customer journey involves searching for businesses and looking for websites, locations, or for details on products and services that fulfill your customer’s needs. The businesses that win in today’s marketing world are the ones who are best findable.

MAKE IT EASY FOR CUSTOMERS TO FIND YOUR BUSINESS

3. RESEARCH 

A customer has searched for your company online, but they want to find out MORE about your business before they spend their money. Since Google became part of our lives, customers do not show up to the first business they see anymore. Today, customers spend time researching the company, products and services beforehand.

Two commonly used online research tools by customers are:

  • Online Reviews
    Customers look for online reviews of a brand before a transaction is made. 
  • Social Media
    A consistent presence and activity on social media show customers that your business cares about customer service and interaction.

MAKE IT EASY FOR CUSTOMERS TO TRUST YOUR BUSINESS

 

blank
blank

4. PURCHASE

If a customer has searched for your business and done their research, it is likely that they are ready to make a purchasing decision. In the past decade, businesses have moved their services to their website, including e-commerce options that allow online purchasing. 

As more customers adopt the online buying lifestyle, the presence of websites and e-commerce becomes more significant. Even if you choose to not sell your products or services online it is still extremely important to have a website and online exposure. 

MAKE IT EASY FOR CUSTOMERS TO GET WHAT THEY ARE LOOKING FOR

 

5. EXPERIENCE

When you convert a web search into a paying customer the customer then has the opportunity to influence the customer journey for other customers. If the customer had a negative purchasing experience they are likely to share their experience with others. These types of online reviews can influence customers to do business with you. Offering a great customer experience is your business’s’ greatest asset and the best source of free marketing.

MAKE IT AN EXPERIENCE CUSTOMERS WOULD WANT TO SHARE WITH OTHERS

 

blank

“
THIS IS HOW WE WORK

Together we will discover the journey your customers are currently undertaking and gain insight on their needs and wishes. Be A Legend will take these insights and translate them into concrete recommendations and your customer journey action plan. Your starting point for your improved customer experience and future-proof business strategy.

 

Ready to get started?

Get in touch
Find out now which “Brand Archetype” best relates to your brand.

Find out now which “Brand Archetype” best relates to your brand.

by | Apr 5, 2020 | DISCOVERY PHASE

WHAT IS A BRAND ARCHETYPE?

Archetypes represent a pattern of ideas and way of thinking that is consistent across time, generations and cultures. They remain consistent over time because they represent values, traits, and motivations that are essential to human nature. There are 12 brand archetypes. Choosing the right archetype for your brand can help your brand build engagement with your current and future customers. It’s also a great way to stand out from a crowded marketplace and leave a positive and lasting impression on your potential buyers. Archetypes in branding are used to guide and strengthen a brand’s story.

Why DO YOU NEED A BRAND ARCHETYPE?

Archetypes support differentiation and set the tone for brand experiences. Archetypes tap into your customer desires. The most successful brands connect with their audience on a deeper level. Brands with an authentic brand purpose often capture people’s hearts. Pretty sure you have one or two brands that you have a connection with. Now, why are these brands so successful? Why do you feel such a bond with these brands? These brands are built with a solid alignment to an archetype, which is grounded in decades of psychological research. Swiss Psychiatrist Carl Jung (1875-1961) coined the term. Brand Archetypes are legit with actual science to back them up. Brands with a strong archetypal personality that connect on an emotional level with their audience, have a massive advantage over their competition.  

We all have basic human desires, which are instinctive and primitive. If you consider that certain behaviours or personalities increase certain desires, you can understand why some personalities appeal to us more than others. 

 

the 12 brand archetypes defined

1. BRAND ARCHETYPE LOVER

BRAND PROMISE: Love makes the world go ’round

CORE DESIRE: To attain intimacy

GOAL: To make people feel special

FEAR: Feeling alone, unloved or unwanted

STRATEGY: To be desired

GIFT: To have appreciation and passion

MOTIVATION: connected and relationship focused

EXAMPLE BRANDS: Victoria’s Secret, CHANEL, Beyoncé and Godiva

Meet the Lover
blank
blank

2. brand archetype JESTER

BRAND PROMISE: If you’re not having fun, you’re doing something wrong

CORE DESIRE: To live in the moment with full enjoyment

GOAL: To lighten up the world with fun, laughter and joy

FEAR: Boredom

STRATEGY: To be curious, playful and funny

GIFT: To have joy

MOTIVATION: To belong

EXAMPLE BRANDS:  M&M’s, Old Spice, Skittles and Domino’s Pizza

Meet the jester

3. BRAND ARCHETYPE EVERYMAN

BRAND PROMISE: All created equal

CORE DESIRE: To be connected with others

GOAL: To belong

FEAR: Not being welcomed

STRATEGY: Developing common virtues; blending in

GIFT: To have empathy and authenticity

MOTIVATION: belong

EXAMPLE BRANDS: IKEA, TOM’s, LEVIS and Jack Daniel’s.

Meet the everyman
blank
blank

4. BRAND ARCHETYPE CAREGIVER

BRAND PROMISE: Everyone deserves care and we must all strive to bestow service upon one another

CORE DESIRE: To protect people from harm

GOAL: To help others

FEAR: Selfishness and ingratitude

STRATEGY: Doing things for others

GIFT: To have compassion and generosity

MOTIVATION: To have stability and control

EXAMPLE BRANDS: UNICEF, WWF, Huggies and Persil.

Meet the caregiver

5. BRAND ARCHETYPE RULER

BRAND PROMISE: Power isn’t everything it is the only thing.

CORE DESIRE: To be organised and in control, leadership focused

GOAL: To create prosperity and success

FEAR: To have chaos or being overthrown

STRATEGY: Exercise power and influence

GIFT: To have responsibility and leadership

MOTIVATION: Having full control

EXAMPLE BRANDS: Rolls Royce, Mercedes, Rolex and Microsoft.

MEET THE RULER
blank
blank

6. BRAND ARCHETYPE CREATOR

BRAND PROMISE: Trust the creative process. Express yourself

CORE DESIRE: To create something of long-lasting value

GOAL: To give form to a vision

FEAR: Having a mediocre vision or execution

STRATEGY: Develop artistic or technical skills

GIFT: To have creativity and imagination

MOTIVATION: To have stability and control

EXAMPLE BRANDS: Pinterest, YouTube, SONY and LEGO.

MEET THE CREATOR

7. BRAND ARCHETYPE INNOCENT

BRAND PROMISE: Life doesn’t have to be hard. Keep it simple

CORE DESIRE: For the world to live in love, peace and happiness

GOAL: To be happy

FEAR: Doing something wrong that will provoke punishment

STRATEGY: Doing things right

GIFT: To have faith and optimism

MOTIVATION: Independence and fulfilment

EXAMPLE BRANDS: Dove, Innocent, Mc Donalds and Coca Cola.

MEET THE INNOCENT
blank
blank

8. BRAND ARCHETYPE SAGE

BRAND PROMISE: The truth will set you free

CORE DESIRE: To find the truth

GOAL: Using intelligence to understand the world

FEAR: Being misled or appearing ignorant

STRATEGY: Seek out information; understand processes

GIFT: To have wisdom

MOTIVATION: Independence and fulfillment

BRAND EXAMPLES: National Geographic, Google, BBC and AUDI

MEET THE SAGE

9. BRAND ARCHETYPE EXPLORER

BRAND PROMISE: You only get one life, get out and make it count

CORE DESIRE: The freedom to explore and discover

GOAL: To experience a fulfilling and authentic life

FEAR: Feeling trapped or inner emptiness

STRATEGY: Discover the road less travelled

GIFT: Having ambition

MOTIVATION: Independence and fulfillment

EXAMPLE BRANDS: NASA, The Body Shop, Patagonia and JEEP

MEET THE EXPLORER
blank
blank

10. BRAND ARCHETYPE OUTLAW

BRAND PROMISE: Rules are made to be broken.

CORE DESIRE: To start a revolution

GOAL: To destroy what is not working

FEAR: Being powerless

STRATEGY: Disruptive, rebellious or combative

GIFT: To have radical freedom

MOTIVATION: Mastery

EXAMPLE BRANDS: Diesel, Virgin, MTV and Harley Davidson

MEET THE OUTLAW

11. BRAND ARCHETYPE MAGICIAN

BRAND PROMISE: If you believe, dreams can come true

CORE DESIRE: Make the impossible possible

GOAL: Turning dreams into reality

FEAR: Unanticipated negative consequences

STRATEGY: Create a vision and live by it

GIFT: To find win-win outcomes

MOTIVATION: Power

EXAMPLE BRANDS: Dyson, Instagram, Apple and Disney

MEET THE MAGICIAN
blank
blank

12. BRAND ARCHETYPE HERO

BRAND PROMISE: When life puts you in a tough situation to say “why me” say “try me”.

CORE DESIRE: To prove your worth through courageous acts

GOAL: To improve the world

FEAR: Weakness, vulnerability, being scared

STRATEGY: To motivate, encourage and be brave

GIFT: To have courage and spirit

MOTIVATION: Encouraging, competitive and achievement orientated

EXAMPLES BRANDS: Red Cross, Fed Ex, Adidas and Nike

MEET THE HERO

“
THIS IS HOW WE WORK

Not sure about your archetype? Contact us to help you find the right archetype for you. Be A Legend will always start with an introduction of the various archetypes and will conduct interviews with your selected team members to gain the right insights which will guide us to the right archetype for your business. 

Ready to get started?

GET IN TOUCH
4 easy steps to take helping you create your “Customer Profile”

4 easy steps to take helping you create your “Customer Profile”

by | Apr 5, 2020 | DISCOVERY PHASE

WHAT IS A CUSTOMER PROFILE?

A Customer Profile is a description of a customer or set of customers. Basically this includes psychographic, geographic and demographic characteristics. As well as buying patterns, purchase history and creditworthiness. Sometimes in business, the buying process can be long and complex. To pivot a lead to a customer it helps to understand why a customer buys, and what keeps them up at night. Marketing success starts with a genuine interest in your customers. With insights and knowledge about your customers, you can better sympathise with your customers. By creating your customer profile you will get a clearer understanding of what information your customer needs, what the relevant contact moments are. And it shows you which success factors, goals and challenges the potential customer has.

Why build a customer profile?

Getting a good understanding of your target audience will allow you to better understand and help your customers. How? By building up customer profiles. A customer profile is a detailed profile that represents part of your target group. Based on the insights of your customer profiles and customer journeys you can start developing your content promotion and your choice of (marketing)channels. Customer profiles also help with your decision-making regarding investments and partnerships.


4 easy steps to creating your customer profile

1. Listen and ask questions

Step into the shoes of your target customer. Try to gain an understanding of your customer’s priorities. Uncover what their success factors are and which barriers your customers have to overcome. In essence, look at the buying process and get to understand what drives their decisions. Digital data can be used as part of your research, and tools such as Mailchimp, SurveyMonkey, GetResponse, Facebook, Google Alerts and LinkedIn. Personal interviews are the real key to success. This way you uncover deep insights into your customer.

blank
blank

2. Analyse, cluster and unite information

After collecting the information search for patterns and similarities in the behaviour of your customers. Cluster the data on which you want to base your customer profiles. After profiling, it is important to create a customer journey map. This will help you set the foundation for your content marketing strategy.

3. Criteria and touchpoints 

Create a story of each persona, and include a photo, name, demographics, challenges, and goals. Map their ‘digital body language’. What does your customer do on the Internet for both their work and personal life? How does he/she use a smartphone? Then validate and refine each persona at least once a year. By using personas as a guide, you can create relevant content that fits each stage of the customer’s journey, from awareness through to decision.

blank
blank

4. LAUNCH CAMPAIGN

Introduce your personas in your company. Ensure that everyone in sales and customer support understand the customer and their needs.
This helps to improve your marketing and communication at every touchpoint with your customers. Working with personas is a dynamic process. You must maintain, enrich, and change them as new information about your customer becomes available.

THIS IS HOW WE WORK

After a joint kick-off, Be A Legend will deep dive with you and your team into the world of your customer. We will mostly cover anonymous quality surveys, personal quality interviews, online and offline research. Together we bring your customer personas to life in just a few weeks’ time. The next step would be creating the customer journey. This journey is your blueprint for your future marketing allowing you to further develop your marketing and content activities.

Ready to get started?

GET IN TOUCH

Loading...