Reasons Your Business Should Invest in Case Studies
Date : Apr 02, 2020
Author : Alexander B
Case studies are often seen as the key to promoting any business through a fact-driven and genuine storytelling.
In fact, according to Neil Patel, one of the most profound marketers and CEO of Hello Bar and Crazy Egg, these studies can increase a company’s revenue by a 185% and boost deal closing by 70%.
If used correctly, any startup business can make the most of their prospects and turn every opportunity into clients. If you are looking to start your own business, you will quickly notice that plenty of companies are investing time and money in these case studies, highlighting them every step of the way.
Of course, this is not a mere coincidence; it’s a way to make money. Have you ever wondered why that is? What makes them so important for getting clients? Here are five reasons why you should be investing in case studies for your startup business.
1. They Are Targeting a Specific Niche
Every well-developed study will only target a specific niche. The great thing about it is that it will never be vague. So, no matter what kind of product you are selling, it will always resonate with your predetermined target market. These case studies will be:
Therefore, you don’t have to worry about is missing out on what’s really important. An adequate case study will target a focused market and evaluate only target customers.
Take the Shake Shack IPO case study, for example. From a simple art project that emerged in New York City streets, the company managed to create a dedicated fan base that will later visit all the new Shake Shack locations. Students were asked if what investors paid per every share was worth it. The study provided a detailed overview of the company’s operations, marketing, financials, and competitors to evaluate the true value of the company.
2. They Give Social Proof
More and more customers today demand proof. Before they buy a product, they have to make sure it works. Checking customer reviews has now become the norm.
Just five decades ago, it was completely different. Customers would have relied on sales copies and would not doubt a product before buying it. If there was an ad that said the product does its job, it would be enough to look reliable.
Today, however, it takes more than that. With the current technological advances and social media, people have access to a lot more information. As a result, customers read multiple resources that talk about the manufacturing process or anything related to the product. This information will affect their decision.
Having case studies that will highlight the product’s effectiveness, use, and customer experience will leave a major impact on sales. Not only for boosting sales, but for getting the word around. If there is solid proof that the product is indeed safe and effective, more and more customers will be willing to try it.
3. Allow Your Business to Become an Authoritative Figure in the Industry
People value factual claims over any statistical analysis. Case studies give exactly that.
Since they are fully-researched, every recorded decision will be a stepping stone for securing your brand’s position in the industry. This is an effective way to evaluate a product and objectively examine it, to see how clients would be using it.
Plus, it can give you valuable insight into what customers are thinking about your product, its potential, weaknesses, and strengths.
In fact, this is not something new. According to research, 90% of customers who read positive feedback claim to be influenced by it. That’s why they decide to purchase that product or service. If you publish regular, fact-driven, and insightful case studies, you will be much closer to getting recognized in your niche.
4. They Provide Solutions to Problems
Case studies implement observational strategies and a mindset focused on honing in on the solution process.
Let’s take your website, for example. You are advertising a product on your website, something like, “Our widget will get you more clients.” The case study will analyze that exact statement and focus on the real effect of your product.
In the end, it will help you put out a more reliable and fact-based statement such as this “Our widget will get you 52% more clients by targeting their A, B, and C needs.”
It’s true that clients will still purchase your product even without a case study, but many will want to know “why” is it any good. Case studies can answer that question. They will highlight the potential in the product you are selling.
5. They Can Help You Create More Content to Advertise Your Business
The more case studies you have, the easier it will be to create spinoff content. You can create videos, posts, newsletters, or anything else you want to use to advertise the business. While it’s true that these case studies are expensive, they are incredibly efficient in creating a solid framework for more content.
If you plan on creating blog posts, articles, or podcasts related to your business, you can use this content to spread the word. The reason for that is relatively simple. Case studies are, in fact, research. They analyze all the intricacies of your business. That means that every single detail gets analyzed and searched.
The more details you have to work with, the easier it will be to create spinoff content. Any spinoff opportunity to spread the content will be a valuable asset for your startup business, especially if that content is backed by research. It can improve engagement and advertise the company’s goals. This is a highly effective strategy that can pay off in the long run.
Case studies are not something that can be done overnight. It can take months to fully develop a solid case. Depending on the information you use, the way you collect and analyze it will determine the length of the process. But, the time and money spent will all be worth it. If done properly, it can be the most powerful tool in your advertising arsenal.
Whether you decide to make a compelling story or a statistical analysis, make sure you create something that will get you noticed.
So, take your time. Create the best-researched piece that will resonate with clients. Remember, the most important thing for any business is to build trust. Without trust, you have nothing. Case studies will give you that trustworthy foundation. It’s up to you to make the most of it.
Now that you know the importance of case studies, what do you think of them? Would you put all your efforts and resources into them? We would like to know what you think! Share your thoughts in the comments below.