A well-crafted, effective go-to-market plan is the holy grail of development. Why have so many missed the mark? They too often skip step one and rush right to their goal, buying a generic go-to-market plan or creating one with little to no research.
Step one is your market research campaign. Without market research, you’re wasting time and money on a shot in the dark. You need a market research campaign – complete with purposeful surveys and targeted data analysis – to create an impactful outreach plan.
What Market Research Brings to Your Sales Strategy
Market research has two main benefits for your business: 1) it determines the right-fit audience for your product or service, and 2) it brings the data you need to craft an effective go-to-market strategy.
Through strategic surveys, purposeful outreach, and detailed research, market outreach campaigns illuminate key elements for your go-to-market campaigns such as:
- Identifying ideal industries, company types, and customer profiles to target
- Recognizing key decision-makers for each target industry
- Understanding decision-maker preferences
- Targeting ideal ad placement for maximum engagement
- Informing best outreach content and strategies
Using Market Research to Maximize Innovation and Minimize Risk
Market research campaigns also offer some “fringe” benefits to help your business fine-tune strategies and stand out in the market, such as:
- Signal where you should pivot before hiring and deploying a team to target a particular market
- Understand what stands out about your business, allowing you to capitalize on that unique quality
- Provide insight into whether your business needs to expand to new arenas
- Identify untapped markets
- Lower risks by floating ideas to prospects before investment stages
- Know market potential and your ideal customer capabilities, helping you set attainable goals
Let NuGrowth Help You Discover Your Market
We’ve worked with businesses of all sizes across multiple industries to hone their market research into targeted, results-driven go-to-market campaigns and other winning strategies. Our Market Research Programs leverage email and phone outreach to gather data on prospect opinions, validate interest, understand potential adoption rates and provide critical insights on a product or service before deploying sales teams and incurring unnecessary expenses.
For organizations in need of market validation before hiring and deploying sales teams and dedicated resources, reach out to us to learn more. See how a Market Research Program from NuGrowth can ensure you have the information you need to make your team successful.
Get in touch with one of our experts today at 614.304.3916 or fill out a simple contact form here.