A spark of genius is insufficient on its own in the tough business world. It requires understanding the metrics behind a market: what's driving sales and more importantly, what's driving profitability?
A creative spark can make the difference, but how is this translated into revenues?
The answer can be obtained by reading the numbers. What we do is more than just analyse the data, we see beneath the numbers and make the link with our creativity. In practical terms we look to:
Identify the parameters for new creative ideas, enabling our creative thinking to be directed towards fulfilling genuine market needs
Ground our creative ideas, ensuring they are fine-tuned to match the market and brand ideals
Understand the size and nature of the potential to be unlocked by the creative concept
Develop an implementation plan to maximise the impact of the creative ideas
In this way, data can be used to support the creative process, rather than stifle it.
Brand positioning is all about understanding the relationships between brands and identifying any gaps which can then be unlocked by a creative idea. It is informed by market knowledge and competitor analysis.
These are used to identify the key drivers of consumer choice in the market, and how different brands appear to be looking to exploit these.
A common output of a brand positioning exercise is a Brand map. Brand mapping is a technique for visualising the relationships between brands. This is invaluable for understanding who your biggest competitors are, and what the key factors are which differentiate one brand from another.
We use brand mapping in order to stimulate our creative thinking, and in order to fine-tune a marketing communications campaign. It can also play a valuable part in the development of a Marketing Strategy.
Competitor Analysis Understanding your competitors is a pre-requisite for a successful market entry or for increasing market share. Sambecketts undertakes competitor analysis by using a systematic approach to analysing brands. Depending on the context, this means auditing their:
The output is the identification of your closest competitors and their strengths and weaknesses. Competitor analysis often leads naturally onto a “SWOC” analysis (Strengths Weaknesses Opportunities Challenges), and brand mapping.
Research Our starting point for researching a market is to use existing data, market reports, and other information that can be gleaned through advanced web searches. Where there is clear value in undertaking original research we commonly do this using online survey methods or focus groups. Quite often there is great advantage in obtaining on-going feedback from customers and this can be achieved easily and at low cost using a short survey linked to a website. This provides an opportunity for customers to express their opinion and give their ideas: as a rule we do not use irritating pop-ups for surveys, but invite participation and reward those that do take the trouble to respond, for example by entry into a prize draw with a discount on a future purchase as a reward. When undertaking research we are careful to adhere to Data Protection and Market Research Society rules and maintain honesty by never undertaking marketing under guise of research.