Understanding your consumer and the market your brand wants to operate in is imperative to any brand and communications strategy. To truly understand, you must have solid insights based on vigorous research. There are many approaches to insight and research. At a macro level, business and market intelligence reports, consumer surveys and big data. At a micro level, it’s about visiting competitor websites, shops, exhibition stands. It’s about scrutinising their balance sheets, their social media behaviour, conducting focus groups, reading up on psychological studies of a particular social grouping.
Brand Hatch utilises a combination of market leading research, data and bespoke insight through third parties to inform their strategic approach to your brand.
Knowledge is power. It’s also a hygiene factor. In other words, you can’t go in blind. It often begins with a hunch and an instinct, but it must be backed up by data driven insights. Its purpose is not just to support a theory. It can lead you down an entirely different positioning strategy. For instance, insight might tell you that your target consumer is actually a different demographic, or their values have changed. This impacts your brand identity, and impacts your communications approach.
Never underestimate the value of research and insight.