A brand specialist and Co-founder/ CEO of Printipy, a brand and marketing startup, Arinola Gelor, has disclosed that startups must prioritize market research and data analysis to make headway in business.
Speaking on the 6th anniversary of Printipy, she said that most startups have found it difficult to survive in a competitive environment because of their inability to carry out market research and analysis.
She said, “As consumer taste and preference are ever-changing, market research and data analysis is the future of brand sustainability, growth and brand resonance.
“The first thing is to have the right tools, framework, and technology to analyse data while ensuring proper integration across all the functions. Startups will have to adopt it as part of all processes to ensure agility and quick response to market changes and competition.
Market Research & Analysis The Future Of Brand Sustainability For Startups
For startups to survive and grow through data, a robust data-driven team needs to be put in place to ensure the data is put to work most effectively.”
While funded startups have been maximizing the development, Printipy has also made provisions for new startups looking to launch within their budget to give them a solid footing to survive in the very competitive market landscape.
Reacting to a statement by the US Ambassador to Nigeria, Mary Beth Leonard that Nigeria attracted 60% ($1.7billion) of the total money raised by tech startups in Africa in 2021, Gelor said “the focus should be on sustainability because a lot of brands have been funded but need to be more strategic in their marketing approach to ensure survival and sustainability in the long run.”