Benchmarking for Communications Strategies

As construction product marketers plan their marketing strategies for the next budget year it is worth dwelling on the importance of benchmarking. There are a vast array of metrics available for websites and social media today, which can show which channels are being used, how frequently and by whom. But this does not inform about the final success of a marketing or communications strategy – the level of brand awareness your target audience has as well as their perceptions of your brand.

This is where market research is important. It is good practice to undertake research prior to conducting a campaign with the objectives of measuring current perceptions. Then, after the campaign, they can be measured again and the change noted. Very often this pre-campaign research can provide valuable insights into the channels your target customers are most receptive to. Contributing to the design of an engagement programmes. And most important, it can demonstrate the return on investment.

In this extract of a webinar People buy from People presented by Refresh, one of their clients, Etex (who are also a client of Competitive Advantage), take us through some of the benchmarking programme that they followed with the support of the Competitive Advantage research team. In this example, we conducted an online survey on their behalf to measure brand awareness and recall, providing analysis of the findings. But for other clients we have followed up the initial online survey with in-depth telephone interviews to gather greater insights. In cases where a large and representative sample has been surveyed, geographical analysis has also allowed tailoring of local marketing and sales activity.

So when planning your marketing budget for next year, don’t forget to make an allowance for some research so that you can demonstrate a return on your marketing investment.

For more information about market research options contact the Competitive Advantage team or:

Download our Toolkit datasheet Using Market Research

View our webinar Maximising the Benefit from Construction Market Research