Tag Archives: internet marketing research tools

Market Research on a Shoestring Budget

One of the major complexities in the business realm includes executing an efficient market research strategy, but what happens if your company is on a shoestring budget? I came across this post on LEADSExplorer that lists 9 methods for market research on no budget. As budgets are tightening up due to the financial mess we are currently in, it might be a good idea to minimize spending on your research. Here’s the list:

1. Spying your competitors
2. Investigating the market
3. Listen in to webinars
4. Spy your customers and leads on your website
5. Blogging for reactions
6. Search social media and blogs
7. Generate responses on social media
8. Use RRS feed filtered using Yahoo pipes
9. Do not spend on industry analyst reports

All of these methods involve the internet in some shape or form. For industry reports, if you are able to come across one online for free, then better yet!

Internet Marketing Research

Yesterday we reported that there has been a growth in the contact center surveying/feedback and analytics market. Today, as I found in this article from The Gazette, the market research industry is experiencing an overall growth globally. In this past year the industry has increased by 5% and the business volume was roughly $28 billion. Much of this growth has been attributed to the advent of the Internet, and more recently its increasing use within this market space. As Jean-Marc L??ger, president of Montreal-based L??ger Marketing, has said:

“In the 1970s, the question was what consumers were buying; in the 1980s, it was why they were buying it; in the 1990s, it was how they were buying it; and today the question is: what if? We’ve moved to a much more predictive model.”

Internet has provided the ability to answer this latest question in real time. As with many new tools, the use of the Internet in marketing research has raised some ethics and validity questions. Some are saying that with the Internet, making sure that samples are random become harder, and also people maybe tempted to abuse data confidentiality and privacy standards. What are your thoughts? Do you think that the Internet is a blessing or a curse for this industry?

The Power of Asking Questions

I read this article today that I thought was a good reminder to always ask questions. As the author writes, many people are familiar with PEST analysis (Politics, Economics, Society, and Technology), but are unsure how to utilize it. Rather than always turning to the Internet for answers, the author goes on to state that maybe it is better to use the Internet as an intermediary tool. First focus on what you want to find, and narrow down keywords, then try to find the experts online. If possible contact them. The author gives an example of how she knew that electricity costs for her country were going to rise and she knew that would translate into higher operating costs for her business. To find an answer she said: use the Internet to find an expert. I can learn more in five minutes on the phone with the guy who has just spent 10 years thinking about how to cut electricity costs than in an hour on the Internet. While the Internet has proven to be a very useful tool, it is still important to remember that other sources may have a better answer.

Tools for Market Research and Analysis

I came across this helpful blog post today that gave a list of 25 top market research and analysis tools as evaluated by Tino Triste in Internet Marketing. The author also provides a short description for each tool, and why it is useful. Here are a few of them. I hope you find them helpful! 43 Things
About.com: Sites A to Z
Amazon’s Hot New Releases
AOL Hot Searches
eBay Pulse
eHow
Google Trends
HowStuffWorks.com
adCenter Labs: Demographic Prediction
SEOmoz Popular Searches
Yahoo! Answers
trendwatching.com
Shopping.com Consumer Demand Index
After checking out the complete list at the i-com blog, are there any others that you would add? What have proven to be the most helpful market research tools that you have used?

iPerceptions: Online Marketing Research Tool

iPerceptions: Online Marketing Research Tool According to this MarketWatch article, IDG has decided to utilize iPerceptions for many of their ‘online properties’ including Computerworld.com, Macworld.com, and PCworld.com. They feel that this tool will help them ‘solicit and analyze user-generated feedback from millions of site visitors in order to discover the issues that matter most to readers and gauge customer satisfaction with its range of content offerings, including multimedia and community features.’ Jonathan Levitt, VP of Marketing at iPerceptions had this to say in regards to IDG “Media companies need to listen to real consumers, in the context of real experiences, in order to understand and improve the online experience. IDG is a great example of a media titan that is taking the right steps to engage its readers and transform their feedback into tactical and strategic decision support that changes their business.” In what ways are the organizations that you involved with gathering and analyzing customer feedback?