Market Research and Analysis
Below is a sample of a market research project I have conducted to identify customer needs, preferences, and trends. These examples demonstrate my ability to gather insights and translate them into actionable recommendations for clients.
AK Lively
As the Digital Marketing and Social Media Manager for AK Lively, I was tasked with crafting comprehensive marketing strategies for various clients and the firm. To make an informed decision on the approach of marketing and content creation to pursue, I wanted to root my creativity in data.
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One of the clients I handled was Great Pods, a podcast review website that allows consumers to publicly rate podcasts for others to see. Great Pods wanted to find a way to grow its platform and target its audience of podcast listeners. Below is an example of how I collected market research and analyzed data:
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1. Research the Client: The initial step is to look internally at the client by identifying the client's goals and objectives and listening to pain points to address when executing marketing strategies. I look at the client’s customer feedback, identify trends, gaps in offerings, and opportunities for improvement that we can focus on to enhance customer experience and drive business growth. At this stage of research, I aim to find an aspect of the client that differentiates them from other competitors.
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For Great Pods, their objective was to create a marketing strategy to target podcast listeners. When researching the company, I found that their competitors all lacked mainstream digital marketing and social media campaigns to promote their service. When looking internally, I found that current customers were getting referred to the website via friends and that Great Pods lacked a social media presence. These insights indicated that to increase Great Pods engagement, I needed to conceptualize a thorough media strategy.
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2. Identify Target Audience: In order to gather comprehensive research for my marketing strategy, I also want to understand who the target consumers are and what motivates them. My aim is to figure out how the target audience responds to various marketing strategies in the industry, and what could be utilized for my client.
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Great Pods wanted to target podcast listeners, in hopes they would review podcasts for others to see. I researched what motivates consumers to listen to podcasts and how consumers find new podcasts. I aimed to examine how podcasts marketed their content, and if that could be applicable to Great Pods.
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3. Collect External Data: I gathered external data by examining the market and locating the position my client is in, in relation to other competitors. Additionally, I looked at sources such as industry reports, competitor reviews, public databases, publications, and more to acquire all information about the market landscape.
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I researched various marketing strategies related to podcasts. I was provided with outside data collected from Great Pods that indicated how podcast consumers found their site and how hard it is to find new podcast that suits their tastes. I examined various publications and competitor reviews to inform which media channels to lean into and the type of content to produce that would resonate with consumers.
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4. Analyze the Data: I organized the data to identify any trends, patterns, and key insights. Internally, I highlighted the types of content that already had high user engagement to ensure that I incorporate that content into my final strategy. Externally, I examined new trends and customer preferences that should be incorporated.
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When looking at trends I saw that people found their podcasts through social media. This only further proved my idea of solidifying Great Pods media presence on various platforms. Additionally, when looking at the types of content podcast consumers responded to, I found that podcast listeners did investigate advertisements embedded into their podcasts. This sparked new ideas on how Great Pods could leverage advertisement spaces directly in podcasts to highlight their service.
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5. Interpret Data: After cleaning the data and highlighting key insights, I then turned the data into actionable recommendations for my clients. I conceptualized strategies, utilizing the data to validate my recommendations. I designed mock-ups, included samples of color and text, and identified new marketing channels that could be explored.
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Based on the data, I recommended a comprehensive social media strategy and creating advertisements to insert directly into podcasts. The social media strategy is designed to acquire podcast and non-podcast listeners, showcasing peer reviews to prompt them to explore different podcasts that fit their interests. The advertisements directly target podcast listeners to leave reviews and seek out new podcasts that match their favorites.
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6. Present Findings: I designed and presented my findings and samples to the client, showcasing a clear connection between the data I gathered and the materials I provided. I ensured that I highlighted solutions to pain points to offer actionable recommendations that align with the client's objectives, ultimately driving meaningful results. My presentations are structured to be visually engaging and easy to understand, enabling clients to see how the insights directly address their challenges and contribute to their business goals.
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I designed an engaging pitch deck for my media strategy and presented my insights to the client. I ensured that I answered each objective with data to back up my claims and provided sample social media posts that could be utilized.
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This example showcases my ability to conduct comprehensive market research and analysis in order to inform strategic decision-making, develop targeted marketing campaigns, and deliver solutions that effectively address client needs and drive business growth.
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