Market research and data can be an invaluable tool when crafting a brand strategy, providing brands with the power to harness their target market. Today, marketers have a multitude of choice of available data; however, being given a plethora of statistics does not necessarily translate into the ability to create a winning brand strategy. There is an art to using data to develop a brand’s personality and key messaging, and to finding the right channels through which to engage with consumer segments within a target market.
As an independent South African market research company that owns the local licence for Target Group Index (TGI), we at Ask Afrika realised that there is a disconnect between how market research and data could be used optimally and how they are actually being used.
Doing business in Africa presents multiple opportunities and challenges. To achieve business excellence on the continent, it is essential that we understand consumers in Africa and their changing needs. For the financial services industry to achieve business excellence in Africa it is important to understand what is at play from a political or social point of view. Each country and territory has its own particular discourse, and business needs, and these need to be leveraged in a way that's relevant to the consumer.
Sarina de Beer, director: client experience at Ask Afrika, shared these and the following insights about the vital link between business excellence and risk mitigation in Africa at the Hollard media roundtable on 30 November 2018 that was held in celebration of the insurer’s sponsorship of the Category of the Year for the 8th Annual All Africa Business Leaders Awards (AABLA) held on the evening of 29 November 2018.
The art of market research lies in the ability to tell a story that can change the world. It starts with observation, investigation and interviews to gather data that is collated and analysed to find significant statistics – this is science. Interrogating the data to find meaning and discover trends, ultimately making it useful for the greater good, is an art.
The Da Vinci Awards – held at Summer Place in Johannesburg on 21 November 2018 – recognise and celebrate clients of Ask Afrika that best demonstrate business acumen through the innovative use of market research to create a positive impact on society, their industry or their bottom line – preferably all three. The research uses science to tell a story and art to create a business narrative with a positive outcome.
“The Ask Afrika Da Vinci Awards are a new initiative and are our way of recognising what our clients’ have achieved not only by commissioning unique research, but on how they use this research innovatively to have a positive effect on society,” said Andrea Gevers, CEO and founder of Ask Afrika.
Some of South Africa’s top companies were celebrated at a gala dinner at Ask Afrika’s inaugural Da Vinci Awards, held at Summer Place in Hyde Park, Sandton, on 21 November 2018. Leading companies entered the awards by detailing how they had used research results to create innovation in their industry. The submissions were assessed by an independent panel of nine esteemed judges.
The services industry forms an important part of South Africa’s economy and it provides many jobs. Service excellence is a core element of brand reputation and is rooted in customer satisfaction, which can only be achieved if a company truly understands its customers and their expectations.
The service industry is transforming as we enter the fourth digital revolution and it is important for companies to get the correct synergy between humans and technology. This was just one of the top-line insights revealed at the recent 2018/19 Ask Afrika Orange Index Awards where the overall top 10 winners of South Africa’s premier service excellence benchmark, as well as 29 industry category winners, were announced.
The name “stokvel” originated from the term “stock fair”, as the rotating cattle auctions of English settlers in the Eastern Cape during the early 19th century. It has long outgrown its traditional roots and become an economy in itself. Target Group Index (TGI) research can help FMCG retailers tap into this market and understand how to accurately reach stokvel members.