“Our business is absolutely flawless and we have nothing to improve upon” — said no business owner ever. Instead, we business owners often think of all the ways we could potentially grow our businesses and guard against threats. I often hear things like: “Why are my customers not increasing?” “If only there was a way…
TAM SAM SOM: What Do They Mean & How Do You Calculate Them?
Starting a new company is exciting. So is gauging an industry’s profit potential or forecasting a revenue goal for your business. But as you start calculating, you must remember to root these figures in reality. If you don’t, you could enter a market that doesn’t have a large enough market size to convince investors to…
Causal Research: The Complete Guide
As we grow up, all humans learn about cause and effect. While it’s not quite as nuanced as causal research, the concept is something our brains begin to comprehend as young as 18 months old. That understanding continues to develop throughout our lives. In the marketing world, data collection and market research are invaluable. That’s…
What Is Market Share & How Do You Calculate It?
In the marketing industry, you’ve likely heard the term “market share” from time to time, but what does it mean? Why is it necessary, and how is it calculated? As marketers, it’s important to understand market share so you know how your company ranks against competitors and can develop new marketing strategies to reach more…
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3 Ways Data Privacy Changes Benefit Marketers [New Data]
When it comes to marketing, almost nothing is more important than having high-quality data on your target audience. So it’s no surprise that data privacy changes limiting marketers’ visibility into what their customers are up to is a huge threat. But what if I told you data privacy changes are actually having a positive impact…
How Market Intelligence Will Make Your Marketing Team More Agile
When I was younger, my dream was to open a cheese store with my family. My mom, brother, sister, and I — we’re all obsessed with cheese. So anytime I see a cheese store, I’ll go in and sample everything … for research, obviously. Although I’d never thought about it this way before, I was…
The Plain-English Guide to Conjoint Analysis
Sometimes, commercials really get me. T-Mobile‘s Super Bowl commercial this year is a prime example — “What’s for Dinner?” demonstrates the infuriating process of choosing what to do for dinner for a young couple, and it’s gold. The reason T-Mobile’s ad was so relatable is because of their market research. They looked at what their…
The Beginner’s Guide to Share of Voice
If you’ve ever been in charge of gathering reports for your marketing team, then you know there are a plethora of metrics you can measure. One metric that gets overlooked is share of voice. However, this is a versatile metric that you can use in a competitive analysis for social media, organic traffic, or even…