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 where causal research, the study of cause and effect, comes in. First-party data can help you learn more about the impact of your marketing campaigns, improve business metrics like customer loyalty, and conduct research on employee productivity. In this guide, we’ll review what causal research […]

Whether you want to start a new company or forecast realistic revenue growth, measuring your total addressable market is a crucial first step. In order to understand how much of the market you can secure — and how much revenue your business can generate — you’ll need the right formula. In this post, you’ll learn what total addressable market is and the best way to calculate it. Table of Contents What is a Total Addressable Market? How to Calculate Total Addressable Market Unless they’re a monopoly, most companies can’t capture the total addressable market for their product or service. Even […]

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 potential customers. In this post, we’ll outline what market share is, how to calculate it, give real-life examples, and explain how you can increase yours. What is market share? Market Share Formula Relative Market Share  Relative Market Share Formula Market Share Examples How to Expand […]

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 on marketers? I get it – you’re probably used to hearing about how the loss of third-party cookies, GDPR, and iOS privacy changes spell certain doom for the marketing industry – but our survey shows that isn’t true. Out of over 1,000 marketers impacted by […]

As your business grows, you face more obstacles, challenges, opportunities, and projects in general. It’s a good and natural part of scaling an organization, but how do you determine your priorities? Which initiatives should you execute on first, and which challenges should you address right away? Enter the SWOT analysis, a framework that can help you develop a roadmap for moving forward with your business, maximizing opportunities and minimizing roadblocks along the way. While it may seems simple on the surface, a SWOT analysis allows you to make unbiased evaluations on: Your business or brand Market positioning A new project […]

When was the last time you ran a competitive analysis for your brand? And most importantly, do you know how to do one efficiently? If you’re not sure, or if the last “analysis” you ran was a quick perusal of a competitor’s website and social media presence, you’re likely missing out on important intelligence that could help your brand grow. In this detailed guide, you’ll learn how to conduct a competitive analysis that will give your business a competitive advantage in the market. A competitive analysis can help you learn the ins and outs of how your competition works, and […]

Have you ever been playing a game and had to look around to check out the competition? Whether you currently own or you’re looking to start your own business, you need to do the same thing. Luckily, there’s a methodical way to do that: by conducting a competitive analysis and creating a competitive matrix. A competitive matrix will help you identify your competitors and lay out their products, sales, and marketing strategies in a visual format. By doing this, you’ll learn where you’re positioned in the market, how to differentiate yourself from your competition, and how to improve upon your […]

Market research is an overarching term for gathering information from you customers about your business, and focus groups are one way to conduct market research. Whether your focus group’s goal is to give feedback on a product or service or help you assess how your brand stands out in your competitive landscape, thought-provoking, open-ended questions are essential to a productive discussion. Focus group questions should dive into the mind of a consumer. What do they think? How do they make their decisions? You want more than a yes or no answer, and your questions need to generate them. However, it […]

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 already thinking in terms of market intelligence and market research (two different concepts, but more on that below). I was thinking about the product and its competitors. As a marketer, market intelligence is important because it can help you understand your position in the market, […]