One of the most crucial aspects of any effective marketing strategy is the ability to reach your target audience. However, this is often easier said than done. Even experienced marketers make the mistake of not identifying who their audience is before they release an ad or start a campaign, which can significantly lower the return on investment (ROI) of any marketing channel.

Today’s marketing is fueled by data. But the mass of information at every marketing team’s fingertips brings inherent challenges marketers must overcome. Performing effective market research in the age of data is no easy feat.

Marketing research is subject to a large number myths and misconceptions, due in part because it gets the reputation of being one of the costliest processes in business. Marketers and business managers often choose to forgo their market research projects because of the illusion that there is too little room in the budget to justify it. There are two problems with this line of thinking about marketing research: