An optimally structured market research briefing is the decisive foundation for gaining the highest ROI from your market research investments. Because only in this way will you get exactly the insights you need for your marketing strategy. The art of market research lies in the art of precise briefing!
7 Tips for a Targeted Market Research Briefing
Here are seven proven tips to create an effective market research briefing that delivers clear results:
1. Define the context in the market research briefing
Start with a clear description of the current business situation and identify the challenges you are facing. This includes, for example, the economic situation, your own and competitors’ activities, market position, etc. This context is crucial for setting the focus of the market research.
2. Clarify the strategic goal in the briefing
Make sure that the overarching goal of your company, brand, or product strategy is clearly defined. This forms the framework for aligning your market research. Define this in the market research briefing, so you can better distinguish it from the research question.
3. Set the research objective
Derived from the business goal, clarify which insight you primarily want to gain from the study. Because the objective of your research differs from the overarching company goal. Clearly define what you want to achieve from the market research. This could be, for example, the communicative impact of an advertisement, the strength of the brand, or the attractiveness of a new product.
4. Formulate precise research questions
Define detailed questions that your research should answer. Avoid vague wording and ensure the questions consider the systemic context of the business strategy. Gather all questions in a brainstorming session. If applicable, include questions from colleagues in other relevant departments. Try to sort the questions into thematic groups. However, you don’t need to formulate the questions perfectly for a questionnaire yet—that happens in the next step during the implementation of the study.
5. Consider additional details of the study in the briefing
Capture all relevant details such as the study’s target groups, the material to be tested, the timeframe, and the preferred format for presenting the results. Especially with target groups, the devil is in the details. Define age, gender, brand and category usage, purchasing responsibility, attitudes, etc. Because this significantly influences the study and the cost of the research.
6. Create room for additional details
If you conduct a tender, there will be questions from the market research agencies. If these are relevant for the agencies to create a targeted proposal, include the details of their answers in the market research briefing. Share the new information with all involved agencies to ensure the proposals remain comparable.
7. Invest time in the briefing
The quality of your market research is directly linked to the time you invest in the briefing. Careful preparation enables a multifaceted and targeted study that delivers the desired ROI.
With a market research briefing to a higher ROI from your market research
In summary, a well-thought-out market research briefing forms the foundation for a successful study. Use these tips to ensure that your next market research project delivers clear, relevant, and results-oriented data. Because a targeted market research briefing is the key to valuable insights for your future strategies and decisions.
If you’d like support with this, contact us!