Close this search box.

The State of Market Research

Companies everywhere use market research to increase sales, retain customers, and grow their markets. Here’s why. 

Business leaders have never faced a harsher microscope. The result? The need for high-quality, revealing, comprehensive market research data has never been greater.  

In the State of Market Research report, we explain how targeted data can help you:

  • Win new customers and retain current ones
  • Drive more sales
  • Develop new products and services
  • Increase market share
  • Uncover and get ahead of risk
  • Identify new opportunities

There’s a reason businesses are conducting more research projects.

From labor shortages and supply chain delays to rapid shifts in customer preferences, companies spent the past two years acting fast and adapting. Now, though, forward-thinking businesses are shifting from firefighting mode to growth: entering new markets, attracting new customers, and developing new products. But aggressive expansion comes with increased pressure — and a greater need for meaningful, revealing market data.   

With their decisions under constant scrutiny, the most successful business leaders thrive because they measure (and exert control over) their growth path by creating data-driven strategies. It’s no surprise then that, over the past year, nearly 80% of companies conducted market research, and 2 out of 3 plan to do more in 2023.  

“91% of businesses say using market research data increased their sales.”

A recent Hanover survey of business leaders shows that their measured, data-backed investments are paying off: Companies that rely on meaningful market data proved more likely to increase sales, expand their market, and increase customer retention than those that don’t.  

Now, in our State of Market Research Report, we map how nearly 400 business leaders across the country leverage market research to drive revenue and grow their markets. 

state of market research

Download Your Report Now

Use this report as a roadmap to leverage market research to prioritize strategies, show the ROI of your initiatives, and outperform your business goals.

Grow your Business with Market Research

Become a client

Access the best custom research to help hit your organization’s goals. Request your custom consult below and a member of our team will be in touch.

Have questions? Please visit our contact page.

Let us come to you!

Receive industry insights directly in your inbox

Our newsletters are packed with helpful tips, industry guides, best practices, case studies, and more. Enter your email address below to opt in: