Why You Should Do Market Research Before Creating Your Logo

What is market research?

Let's start with the basics: what exactly is market research? Market research is a systematic analysis of relevant information to understand a target market, including size, trends, consumer behaviors, competitors, and business opportunities. It makes it possible to make informed decisions for the development or marketing of a product or service.

While these analyses are very useful when starting a business, they can also be relevant when launching a new product or service or evaluating different points in the current market.

Why can market research help you create a logo?

Let's get straight to the heart of the matter: why should you take the time to do market research before creating your logo? If you are starting a business, there is a good chance that you will have to draw up a business plan to check the viability and seriousness of everything. This is an analysis often requested by banks or organizations.

To sum it up, the information found on a market study can help you make your logo a success. In fact, it can help you choose more representative aspects that will persuade the right people. However, to achieve this result, you will need to do your research seriously. The more comprehensive your analysis is, the easier it will be for you to have a logo and branding that stands out from the competition. Various specialists and organizations related to entrepreneurship can help you conduct your market research if needed.

What should be included in your market research?

More concretely, what should be included in market research? Although this analysis can be several pages long and cover various topics, we have grouped everything into three axes that are relevant to the creation of your logo.

An analysis of your company and your products

First, there is the question of your company, but also your products and services. What do you want to offer? What are the strengths and weaknesses of what you want to bring to market? Is it the quality of your products or its excellence? Is it its affordability or its unique taste? Another exercise you can do is make a list of words or adjectives that represent your products well. They will be very useful during the creative process.

Let's say you want to start a landscaping business. What makes you unique is the fact that you are very knowledgeable about local and organic plants and use few pesticides when maintaining gardens. You also make sure to offer a quality service. Keywords that represent your business well would be ethical, local, caring, ecological and vitality.

An analysis of your target customer base

Then there is the question of the target audience. By targeting the right people, you'll increase the chances of turning them into customers. In addition, knowing exactly who your products and services are aimed at will help you better meet their needs. Also, you can make sure to create a logo that will be loved by this specific group of people. For example, it is very likely that branding that targets businesswomen will be different from a brand that is popular with teenagers who are passionate about extreme sports.

Going back to our earlier example, the target clientele of this landscaping company could be people living in the suburbs, who don't have time to take care of their gardens, but who have an ecological conscience. Young families could then be a relevant target audience.

An analysis of the market and the competition

Finally, the last two pieces of market research that we want to address are the market and the competition. First, what is your market from a geographical point of view? Which cities or countries do you want to target? Is there already interest in your products or services? Is it a market that is booming or shrinking? Then there's the competition. It's essential to have an idea of other companies in your industry. What do they do? What are their strengths and weaknesses? How will you stand out from your competitors? Also, it would be interesting to analyze their logos to make sure you create something different.

Regarding our landscaping company, in a specific city, there are other companies. They seem to target all but one of the sectors. So, all of their logos use a color palette consisting mostly of green with icons of trees or leaves. It might therefore be relevant to use other colors or types of emblems to stand out.

In conclusion, it should not be forgotten that a good logo should be flexible, simple, representative, distinctive, and memorable. To achieve this result, it is important to know your company, its values, and products, as well as the target clientele. Always remember that you are creating your company's brand, not a competitor's. So, your logo should be unique and your best ambassador!