One of the important goals of cannabis research in New York on consumer insights is to guide cannabis brands and retailers in the state to move more towards consumer-centric marketing approaches. Customer insight is essential for building successful marketing and innovation strategies and plans.
So if you’re a part of the New York cannabis market and you’re looking for reasons why you should use cannabis consumer insights in New York, this article is for you.
Consumer Insights Through Market Research
At the core of every strategic business decision and improved customer experience is data. Because customer insights explain the behavior, motivations, pain points, and emotions of consumers, customer base growth is possible.
You can gain consumer insights through various ways but one of the most reliable methods is through market research.
In order to determine the needs of your target audience, you need to research and study your market and what they want from cannabis brands.
However, knowing what to look for or how to obtain, evaluate, and interpret the relevant data to ensure that it’s actionable is a daunting and difficult task. It is best reserved for professional researchers. Why? Because the better the data, the better your business decisions will be.
Accurate and Reliable Data Is Important
Many cannabis brands continue to rely on their own sources to learn more about their customers. The problem with this is that it only looks at the “what,” not the “why.” In other words, you know what they’re doing but not why.
Data from market research, however, is accurate and reliable. It can help you build a holistic picture of the types of customers who are interested in buying from you. As a result, you can convey more impactful messages that generate the best return.
In New York, where cannabis has been recently legalized, you can expect a rise in cannabis consumption and subsequently cannabis sales. Not capitalizing on this by obtaining insights from reliable market research would be a big mistake, whether you are a medical marijuana brand or retailer.
Why You Need Accurate & Reliable Consumer Insights
There are many ways cannabis businesses can benefit from consumer insights. Some of them are below:
● Develop Marketing Strategies
Knowing what motivates a customer’s purchase decision, what external factors influence their spending habits, how often do they purchase recreational or medical cannabis, and many other questions give brands a better understanding of their customers. This can help them develop highly personalized and targeted brand and marketing strategies.
Customer insights let you find real solutions to your customers’ problems and engage with them in the most efficient way possible.
● Eliminate Guesswork
Solid consumer insight research drives efficiency. It’s easier for firms to justify marketing expenditure on various platforms and messaging once they understand why their customers behave and act the way they do. Processes become more efficient, and less time is spent guessing.
● Stay on Top of Trends
Conducting market research on consumer insights is an excellent way to remain on top of trends. It can help you keep up and stay ahead of the competition.
If you keep up with developments in your customers’ buying habits, the most popular advertising platforms, packaging preferences, product attributes, relevant messaging, and many others, you can build a successful cannabis business.
● Expand Your Market
Understanding and analyzing your customers more carefully can lead to opportunities. Consumer insights can help highlight the need for new product development.
If you’re in the cannabis industry and looking to start or grow your brand in New York, obtaining cannabis consumer insights in New York through market research is a great way to do it.
Outsource your market research to ISA Group. They are specialists in cannabis insight and have years of experience in market research. Contact them and start or establish a better cannabis brand today.