Media equivalency evaluation is very popular among our clients. Now, let’s look at another way to measure sponsorship impact: market research.
While media exposure research estimates the total publicity that the event generated, it doesn’t provide much insight on how the targeted audience actually reacted. Placing a panel with a sponsor’s logo does not mean it was actually noticed by consumers, even though it may have generated a high advertising equivalent value. This is where market research becomes important.
What can market research tell you?
Market research helps you understand your target audience better. It provides insights into:
- demographics and psychographics
- purchase behaviours and decision-making factors
- media consumption patterns
- brand awareness and brand perception of the brand etc.
This information helps executives make better and more informed decisions.
How do we do it?
At IRIS, we use several market research methods depending on our clients’ needs and goals.
Syndicated database
Our syndicated database provides data on group demographics, attitudes & interests, purchase behaviour, marketing touchpoints, attitude towards sponsoring, media consumption habits and so on. This information helps sponsors make strategic marketing decisions.
Online surveys with panel partners
We work with leading global first-party panel companies to collect high-quality data through online surveys. This allows us to reach specific target groups across many markets.
Event intercept survey
We also conduct on-site research during events, directly among attendees. This method allows to measure real-time awareness and recall, evaluate engagement with sponsorship activations, and identify which sponsorship elements were most noticeable.
The research method depends on the client’s objectives and the problem they want to solve.
Do you have a specific challenge? Get in touch with us, and we will be happy to help.