Episode 14: The Simple Tools to Grow a Brand - Market Research

In a recent episode of the Colour Plane Podcast, hosted by Jesse Toniolo and Jack Macdonald, listeners were treated to an engaging conversation about the evolving landscape of market research and the critical role it plays in digital businesses today. The hosts shared insights, personal anecdotes, and practical tips, shedding light on the world of market research and how it can shape business strategies.

Key Themes:

1. Commitment to Value: The episode begins with Jesse and Jack discussing their commitment to delivering value to their audience. They reveal their ambitious schedule of three episodes every week, emphasizing their dedication to providing insights and strategies to their listeners.

2. Market Research Evolution: The hosts delve into the evolution of market research over the years. Jesse shares a humorous childhood story of participating in market research for chocolate milk, highlighting the contrast between traditional methods and modern approaches.

3. Defining Market Research: The hosts offer a concise definition of market research as an organized effort to gather information about target markets and customers. They stress the importance of gathering data to make informed decisions.

4. Creative Industries' Dilemma: The podcast touches upon a common dilemma faced by creative individuals in various industries, such as fashion and music. Balancing personal creativity with customer preferences is crucial for success, and market research serves as the bridge between the two.

5. Digital Tools for Market Research: Jesse and Jack discuss the array of digital tools available for market research today, including social media polls, customer feedback, and website analytics. They highlight the convenience and effectiveness of these tools in understanding customer preferences.

6. Website Traffic Analysis: Website traffic analysis is a powerful tool mentioned in the episode. By tracking website visits, businesses can gauge customer interest in specific products or content, helping them make data-driven decisions.

7. Flexibility and Adaptation: The hosts emphasize the importance of flexibility and adaptation in response to customer feedback. They cite the example of the "Outdated Collective," a brand that pivoted its offerings based on customer preferences, demonstrating the value of staying attuned to your audience.

8. Brand Values vs. Adaptability: The episode explores the balance between staying true to brand values and adapting to customer demands. Some businesses prioritize core values, while others remain flexible in their product offerings, and both approaches can lead to success.

Conclusion: The Colour Plane Podcast episode offers a compelling discussion on the evolving nature of market research and its pivotal role in guiding business decisions. Jesse and Jack's insights, personal stories, and practical advice provide valuable takeaways for both aspiring entrepreneurs and seasoned business owners looking to stay competitive in the digital age.