Have you ever wondered why do you choose some products over the others? What makes some products as your favourites?
The answer to all such questions is:
“The way a product or service is presented decides their acceptance and life”.
Advertising plays a crucial role in the successful implementation of any new idea. Moreover, what you present is less impactful than how you present. Hence, the term “Advertising Research Process”.
What is Advertising Research Process?
It is a detailed analysis of various marketing aspects to formulate a result-oriented advertising campaign. An advertising research process helps you understand the attitudinal pattern of the target audience and customers’ action/reaction.
Further, the main goal of any advertising research process is to design an effective campaign that is competent enough to build a strong brand image and acquire maximum selling profits.
Benefits of Advertising Research Process
- Helps understand the target audience better
- Helps improve the product or service before the launch
- Create an action-evoking advertising campaign
- Build brand identity,
- Attract maximum customers
- Determine potential risks and minimize them.
- Pull/retain old customers
- Boost sales.
Steps of an Advertising Research Process
Before a company rolls out their promotional campaign, it should follow the following steps for better results:
- SWOT Analysis: in the first step, the company should discuss on the new product briefly and do the SWOT analysis.
- Determine the Objective: What message should be delivered through the upcoming campaign? The answer to this question is determined at this stage.
- Market Research: The actual market research begins here. Information about market behaviour, current trends, competitors, consumers’ response on an existing/relevant product, availability of resources, etc, is collected and analysed.
- Identify the Target Audience: Here, extensive research is done to determine the target audience that are likely to buy the new product.
- Choosing the Right Media: Identify the right platform to promote the products so that information to the target customers is reached in the right and effective manner.
- Deciding on the Budget: Based on the above steps, the advertising budget is planned at this step. Also, the availability of funds and the profit to be generated is also estimated here.
- Designing the Ad: Here, a creative ad is created on paper by the copywriters with a meaningful story. Further, the actual creation of the ad is done by the art directors. The ad is redefined and polished several times to bring out the best.
- Launch Date & Time: Based on the market research, the date, time and place of the launch is decided.
- Actual Launch: Finally, the product is launched as and when decided.
- Performance Assessment: After the product is launched, the last step is to analyse the performance of the campaign in terms of awareness, reach, lead generation, customer acquisition, sales, and profits earned.
Following these steps can help a marketer make most out of their advertisement campaign and rule the market.