Measuring where in the purchase process manufacturers win and lose customers
VP of Market Research at Industry Standard Research Kate Hammeke explains how important it is to know your business’ competitive landscape and how that impacts your buying audience, and then to use that knowledge to inform your marketing strategies.
For example, if we look at brand strength, which measures the drop-off of potential customers at each stage of the purchase decision, funneling down from awareness to consideration to preference to purchase intent, we see very different results based on where a brand sits in its competitive landscape. These broad findings (in addition to personalized brand strength results) have a direct impact on where sales-marketing efforts need to be concentrated to improve conversion rates.
Read more at Life Science Leader, and check out our Custom Research services to learn how ISR can help your business understand its place in the CDMO landscape, and develop strategies to put your best foot forward.
