This November (2024), Square Holes will be celebrating 20 years of providing business and cultural insights to a long and diverse list of clients.

Our story started back in 2004, a year in which Mark Zuckerberg launched TheFacebook (later just Facebook), Friends airs it’s final episode, and an earthquake in the Indian Ocean prompts one of the largest observed tsunamis affecting Thailand, India, Sri Lanka, Somalia, the Maldives, Malaysia, Myanmar, Bangladesh, and Indonesia.

Started by Jason Dunstone as the antidote to the status quo in the market research industry, Square Holes was created to be an agency with a difference. Inspired by Apple’s 1997 Think Different campaign, Jason named the company Square Holes as an indicator of the left of centre thinking that would come to be its calling card. 

While plenty has changed in the following 20 years, one thing remains the same for the Square Holes team – rapidly evolving markets and societies need agile and innovative responses. This is the core of our work, providing the evidence and illumination needed for businesses and organisations to make confident and strategic decisions for sustained growth.

So why is it important for companies engage market research?

1. Understanding Customer Needs and Preferences

Our research helps companies identify what customers want, their preferences, buying habits, and pain points. This understanding enables businesses to develop products and services that meet customer demands and provide value, leading to higher satisfaction and loyalty. We have worked along side iconic businesses like Haighs Chocolates, Ambulance Victoria, and Master Builders to help them better understand their customers and members.

2. Identifying Market Trends and Opportunities

By studying the market, companies can spot emerging trends, shifts in consumer behaviour, and new opportunities. This allows them to stay ahead of competitors and adapt to changing market conditions. It also helps to identify gaps in the market that the company can exploit for growth.

3. Reducing Business Risks

Market research minimises risks by providing data-driven insights. Before launching a new product or entering a new market, research helps validate the potential success or pitfalls. It ensures that investment decisions are backed by evidence, reducing the likelihood of costly mistakes.

4. Analysing Competitors

Researching the competition helps companies understand their strengths, weaknesses, strategies, and market positioning. This analysis can highlight areas where the company has a competitive advantage or needs improvement, enabling better strategic planning. Square Holes recently worked with Johnny’s Popcorn to learn more about how they stack up in the eyes consumers against their competitors.

5. Improving Product Development and Innovation

Feedback gathered through market research informs the product development process. Companies can use customer insights to refine features, improve product quality, or develop innovative solutions that better cater to the target audience. Square Holes has worked extensively with brands like Redarc to evolve their product offerings.

6. Optimising Marketing Strategies

Market research provides insights into the most effective channels, messaging, and promotional strategies for reaching target audiences. This leads to more efficient marketing efforts, better targeting, and ultimately, a higher return on marketing investment. Square Holes are proud to have played a part in the campaigns of BreastScreen SA, SA Power Networks, and ‘A New State of Mind’.

7. Enhancing Customer Experience

Understanding customer preferences and behaviours through market research helps companies design a better overall customer experience. It allows them to create tailored services, provide relevant support, and build loyalty programs that align with customer expectations. Square Holes have been working alongside organisations like Zoos SA, and Adelaide Film Festival to help them tweak their customer experiences to evolve with the tastes of their audiences.

8. Measuring Brand Reputation and Perception

Research helps track how the brand is perceived in the market and identifies areas where it can improve. This information is critical for brand positioning and for crafting communication strategies that resonate with target audiences. Square Holes recently worked alongside Brand SA to track their brand recognition before a brand overhaul.

9. Setting Realistic Goals and Forecasting

Companies can use data from market research to set achievable goals, make accurate forecasts, and track performance. It helps to identify potential market size, growth potential, and expected revenue, aiding in strategic planning and resource allocation.

10. Guiding Pricing Strategies

Market research assists in determining the optimal price points by analysing what customers are willing to pay, competitors’ pricing, and the perceived value of a product. It helps balance profitability with competitive pricing, ensuring that a company’s offerings are attractive yet sustainable.

11. Improving Customer Retention

By understanding why customers stay loyal or switch to competitors, companies can implement better retention strategies. Research helps identify factors that impact customer satisfaction and loyalty, leading to more effective retention programs. Square Holes have worked with Meal on Wheels on a long term tracking program to understand what elements of the service are useful to customers and what need tweaking.

12. Navigating Market Entry or Expansion

For companies looking to enter a new market or expand geographically, market research is essential to understand local preferences, regulations, and competitive landscapes. It helps tailor strategies to the specifics of a new market, increasing the chances of success. Square Holes have helped businesses like MineLab, and Lion in expanding into new territories.

Engaging in market research equips companies with the necessary information to make informed decisions, reduce uncertainties, and build strategies that align with customer and market needs. This not only drives growth but ensures long-term sustainability.

Under-pining every project that Square Holes undertakes are our three core values:

IMPACT: We inspire growth
Square Holes exists to drive an evolving narrative through data-driven research. We prioritise diligence, energy, and persuasion in communicating research evidence and insight to deliver exceptional results that drive positive impact – for business and community alike.

NURTURE: We grow together
Square Holes fosters collaboration, encourages team and client mastery, and promotes candour for collective growth. We commit to a nurturing and trusting team environment so that your business can benefit from transparent and direct insights.

CURIOSITY: We learn forever
Square Holes champions open-mindedness, analytical thinking, and creativity in our exploration for innovative solutions. We are constantly learning and evolving our understanding of the cultures and environments that surround your business, as well as new tools and technologies that sharpen our output.

We are excited to see what the next 20 years will bring, including the addition of new clients to our ever growing list, watching the growth and evolution of those companies who have been with us for years, and continuing to support some of the key cultural institutions in South Australia as they pave the way for the creative voices of tomorrow.

Want to learn how Square Holes can elevate your business? Email Jason here or head here.