What do customers just not get about your brand? Well-designed brand research can reveal how customers’ misperceptions are affecting your bottom-line.
Brand Research for Business Problems
There are a few clues that pop up again and again that indicate it’s time to get some customer insights about your branding in order to solve a business problem.
Here are the top five business problems brand research can resolve.
Clueless Cold Outreach
It’s a great feeling when a potential new account is receptive to your solution. It’s less great when you hear over and over from new contacts, “we had no idea you were out there!” Particularly when you’re such a good match, customers would have called if they’d known about you. Brand research can identify the reasons behind gaps in awareness.
Market researchers can find out how customers discover your brand and how well your brand stands out compared to the competition. Quantitative research can uncover the stats to clarify how aware decision makers are of your brand and where buyers are looking if they’re searching for a solution like yours.
Look-Alike Syndrome
Maybe you first noticed it at a conference. You looked around at the booths, and all the messaging, color schemes, and brand imagery felt…familiar. Maybe customers have been mixing you up with other vendors. However it came to your attention, your brand isn’t standing out from the competition.
Brand research can uncover the emotional associations customers make with your brand and the key differences they see between you and the competition. By capitalizing on your differentiators, you can authentically rebrand and stand out from the pack.
Outdated Brand
You’ve been busy. You know your brand has gotten a little stale and doesn’t reflect how your business has evolved. But retooling is a big project, and it hasn’t been at the top of your goals list.
Brand research can help you focus your rebrand by giving you customer insights on exactly what in your current branding misses the mark. You might learn that your visuals are just fine, but your name feels dated–or vice-versa. Then you can confidently undertake a right-sized rebranding process and fine tune a brand strategy that carries you forward.
Lacking Loyalty
Churn is the enemy of growth. In fact, one study showed that getting to 0% churn even from the relatively low churn rate of 2.5% would lead to 60% growth in monthly recurring revenue (MRR) for Saas companies.
So, if your solutions are selling but customers aren’t sticking with you for the long haul, you’ve got a problem.
A brand study will get at the root of the issue by unearthing how customers perceive your brand in relation to the competition. You’ll learn whether competitors have features you don’t or if the larger issue is that your brand no longer engenders a high level of trust.
Should a Sub-Brand Stand Alone?
What do Xbox, LinkedIn, and Skype have in common? All three are Microsoft products, but none of them share the Microsoft name.
Brand research can help you determine if a new sub-brand should be marketed as a peer of the main brand or if it should stand alone. You’ll get customer insights to clarify the emotional associations and perceptions buyers have of your brand. From there, you can see whether your sub-brand will benefit from those associations or if they’ll be a hindrance.
Gain Clarity
Your brand is your public face. Is it time to find out what your buyers really think of it? Take an honest look at your pain points and consider whether misalignment between your goals and buyer perception of your brand could be the culprit. The truth might hurt…but it’s better than broadcasting an identity that miscommunicates what you’re about or never registers in the first place.
With custom market research and marketing services, Cascade Insights helps companies seize opportunities in the B2B technology sector. We work with everyone from enterprise tech stalwarts to up-and-comers such as FinTech, MarTech, Health Tech, and more. Learn more about our B2B brand research here.
Special thanks to Sean Campbell, CEO, and Philippe Boutros, director of systems design, for advising on this piece.