Imagine seeing a doctor for a hand fracture. The doctor immediately diagnoses the fracture with a simple examination, but he will ask you to take a radiography picture. Your doctor has diagnosed your problem, but needs to find the exact location of fracture for better cure. Exactly the same thing happens in advertising and marketing. Many experts in this field believe that if you do not understand the problem, you are not able to provide your customer a solution. In other words, it is only by analysis that one can answer the existing questions and doubts and then design and implement the campaign.
Required types of Analysis in Advertisement
Different methods for setting roadmaps, required expenditures, feedback review and optimization is needed in Marketing campaigns. In other words, full and comprehensive analysis should be considered and relying on speculation must be removed from options. Some of required analysis before every campaigns are: Product/Service analysis, Brand position in the market, Resources analysis, Market research and competitor’s analysis. It should be noted that some analysis is required during and after each campaign which will be mentioned in next articles.
When you intend to offer a new product or service to the market, the first step is to fully understand and find the strengths and weaknesses of the product or service. Once you completely dominate on all the aspects of product, questions like “what kind of needs does this product/service will fulfill?” Marketers believe that people do not buy your product, but buy your reasons.
It’s better to have better understanding from brand position in the market before starting any marketing campaign. Brand history, Marketing activities, Target audience and popularity will be analyzed in this section. Obviously, better position will result to easier product or service launch or promotion in the market.
One of the most important parts of analysis is related to in-house resources. Such sources no matter physical or virtual should be considered and their usability must be evaluated. For example, in digital campaigns having proper website or landing page and activities on social media are a must that are considered as campaign assumptions. So before starting any campaigns, such assets should be prepared and optimized if needed.
After analyzing in-house sources, external factors or target market and its infrastructures should be considered. Market analysis is one of the most important determinants of product/service success. Quantitative and qualitative market research will lead to knowing opportunities, threats, legal limitation, values, buying behavior, competitors and potential and actual customers. Market research is the only way to find similar products, their success or fail reasons along with competitive prices. It is worth mentioning that market is not only limited to its physical type, but can cover online environment as well.
To optimize resource allocation in current competitive market, there is no choice but to use the opportunities created by competitors and be prepared to deal with potential threats. By analyzing competitor’s products, services and their behavior in market, interesting results will appear. It’s better to write your competitors’ names with details like market share, type of products, covered areas and prices and compare your brand with each of them. Also, competitor’s advertising activities should be considered.
In order to be successful in todays’ competitive and unstable market, several critical activities should be done. One of the activities that is crucial in this process is review and analysis. Pre campaign analysis is extremely important because with no complete understanding on product, market and competitors we are not able to design appropriate campaigns. In Carbon advertising agency we have always been trying to exploit all different types of analysis for planning effective and successful marketing campaigns. To view customers who have experienced this service please click here.
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