Now in this second post we are going to find out how marketing research will help your business. Conducting marketing research is important because it targets your customers specific needs at your location so you can focus your marketing and not waste capital on things that won’t work.
First off, lets separate marketing research into two categories. There’s primary research and secondary research. Primary research is research is research that you conduct yourself while secondary is research you gather from another source that has already been done such as on the internet or from a marketing research company. Since secondary research is widely available online cheaply through related industry blogs, google news, and marketing blogs we are going to focus on doing your own primary research that focuses on your bakery location.
Conducting primary research for your marketing campaign:
There’s a few things you’ll need to utilize this series. I imagine you have all the following, but I’ll just make a little inventory list for you.
1. Your Bakery
3. A Point of Sale System
Okay, great now that you’ve got these items all arranged, we can begin the exciting trek of strategizing marketing campaigns.
Some examples of research would be: determine your customer average demographic, your nearby competition, and what nearby businesses you may want to partner with or work with.
Research methods for these options:
What should you research? This park takes a little bit of detective work; how about some examples:
1. Make a questionnaire: Ask a few questions you think your customers might answer that could help your sales.
Offer them an incentive to filling it out, for example $5.00 coupon. Give them the questionnaire after they have placed their order. – Congratulations that’s your first campaign, this method builds some loyalty, your customers now have to come back to get their discount.
So then you have a few questions. How do you make a questionnaire? And who wants to print out all that paper and enter in the results later. Fortunately there’s quite a few sites now that help you make questionnaires, track the information and export it out to useable spreadsheets.
You could even import some of your info back into your point of sale, depending on your data and it’s capabilities. One site we have used is www.surveymonkey.com You could do a quick google search for survey’s to look at other survey help websites.
2. Add a loyalty program: Keep it simple and keep the method simple for it. By keeping track of your customers you can see their habits. If you don’t have a POS System that can handle loyalty, you can try punch cards, or consider getting a POS System, they are invaluable to your operation.
3. Your Credit Card Sales act as a loyalty program. Even though you don’t store all of your credit card numbers, you can group the last four digits and the first four, plus the expiration date and potentially the customers name from the card, to make a report that shows a reasonable view of what returning customers are spending on average, items they are buying, how often they buy and maybe what days of the week they come in. This is where a POS System really comes in handy.
Going back to the previous post, over time you may obtain research that may contradict parts of your current Bakery Marketing Plan if you have already taken a crack at laying one out. Don’t fret! Just go back and make proper adjustments. Gathering more research will only help you fine tune your analysis and marketing strategy and may even alter your ultimate goal. But, that’s a good thing because you are working with a clearer picture, which means you are better on track for success!