Tag Archives: Market Research Tools

Calling all ‘Change makers’ ‘..

Last year the industry was wowed by the first ever Technology Driven Market Research Event.

In the spirit of our industry flagship, The Market Research Event (TMRE), we proudly present the new and expanded: The Market Research TECHNOLOGY Event, a holistic synthesis of intelligence, insights and implications. This is an event with practical lessons, productive debate and inspirational messages for moving forward and driving innovation in your organization.

Once upon a time businesses dreamt of a 360 degree customer perspective, now, it is a reality.
From fragmentation to integration, data convergence is disrupting established industries and business models. Primary research methodologies are no longer sufficient. A 360 degree perspective is needed to fully grasp all of the data and tools that are being used, creatively and effectively, to better understand consumer behavior.

Technology is a tool but it does not replace the art and science of market research as a discipline
We are arguably in the midst of the most major sea change the industry has ever seen. Historically market research has been the main driver of data collection ‘ but now, with the explosion of data available and the convergence of so much data – researchers are expected to perform data integration, aggregation and prediction alongside their data collection. That’s not enough. They are expected to turn data into stories that people want to hear ‘ that ultimately drives innovation in their company. This undoubtedly requires a whole new set of skillsets, talents, and leadership.

Big data can be an obstacle and it can also be a goldmine
Understanding different behavior patterns throughout different touch points and across customer cycles allows us to know our customers better than ever before. This translates into smarter decisions and more productive outcomes. Market research is part of a bigger world ‘ the world of consumer and marketplace intelligence.

From market research to business intelligence, the tools available are growing exponentially, the knowledge available is astounding, the game is changing, and therefore, so are we’

New for 2012:

  • Dr. A.K. Pradeep is back! Running a full day workshop on Research Innovation and Neuroimmersion. 
  • Gaming is the new social. Find out how Jane McGonigal, Author, Reality is Broken, is using games to collect significant amounts of consumer data.
  • Technology is no longer a tool; it’s an intrinsic consumer behavior. Join Behavioral Economist, Dan Ariely as he taps into the forces behind the different decision-making processes.
  • Trend tracking is the motivation you need as a business to unlock hidden potential of emerging markets. Explore your social currency with Michael Tchong, Analyst, Michaeltchong.com.

Join us in this new technological wonderland!  Visit the webpage to sign up for updates on the program.

3 Market Research Tools on Facebook

Facebook is a great social network to utilize for market research, but just how exactly do get behind the facebook wall since all of this information isn’t publicized anywhere? I came across this post on About Results Marketing in which they list three market research tools available on the facebook platform. Here they are:

Facebook Lexicon
This service analyzes the amount of times a keyword has been mentioned on Facebook. It’s a great way to see if there is any buzz on a particular subject matter.

Facebook Pages
This is a great tool to get people to join a group around your business. The cool thing here is that once more than 10 people join the group, you’ll start getting ‘facebook insights’ which is demographic details about people on your site.

Taking Demographic Data from Facebook Ads
This involves setting up an ad campaign on facebook, and by doing this you will be able to see how many people there are in a specific demographic that are interested in a subject matter. The post gives an example that you can search for how many 18-24 year olds have SEO or SEM in their profiles.

Take advantage of Facebook for your company’s market research methodologies!

Google Insights for Market Research

An important step in online marketing research includes understanding search patterns and visitor behavior. Tino Triste’s latest post on I-com details how you can use Google Insights to help do just that. Google Insights helps marketers in several ways by finding popular key phrases for your market as well as generating geographical heat maps which shows where there is greater demand for products and services. Tino gives the example of searching for the term ‘gardening supplies’ for a fictitious company called Gardening Outlet Ltd. By searching in the United States, Tino was about to figure out that there was a greater demand for ‘gardening supplies’ in states like Oregon and Colorado. This step in preliminary market research is crucial and it can help companies analyze results before moving forward with a new business venture. Tino describes how Google Insights can be used for marketing research, but what are some other applications and methods that your company uses to conduct preliminary research?

Social Media and Market Research

I came across Kari Rippetoe’s latest post from The Caffeinated Blog in which she discusses a couple of social media sites where marketers can conduct their own market research for free. Even though traditional market research can not be completely wiped out, take a look at how monitoring conversations in real-time can improve your market research process. Kari lists 5 ways social media and social networking sites can be used for market research:

  1. StumbleUpon: This site not only presents a list of relevant sites about a topic, it also compiles a list of users who are interested as well. By clicking on their profile you can find demographics, location, ages, genders, and other interests.
  2. LinkedIn: This professional social networking site is primarily used as B2B research tool. You can look for people in LinkedIn by searching for company, job title, industry, and keywords.
  3. Twitter: This micro-blogging service initiates conversations, and this provides a great opportunity to hear what is being said about a particular service, product, or market space.
  4. Forums: Before web 2.0 was popular, forums were the ideal conversation tool used by people. Forums are still thriving in almost every niche.
  5. Niche Social Networking Sites: If there is a topic, the chances are very high that there is some sort of social networking site designed just for it. Research the web for a variety of niche subjects; you will gain some knowledgeable insight about your target audience.

New Marketing Research Tool

A new patent pending research tool has hit the market thanks to Synergy Research Group as mentioned in this press release from marketwire. It is called Synergy Interactive Analysis (SIA), and is a web 2.0 tool that will help users ‘SIA leverages the wealth of market intelligence Synergy has developed over the last decade in the Networking and Telecom industries. SIA allows clients to instantly create any type of report or chart, using any unit of measure, for any company, anywhere in the world.’ SIA will cost users $499 per seat per service, and will provide consumers with 38 separate SIA Market Share, and Forecast services. In order for individuals to experience the value of their tool Synergy will be offering 2 SIA Market Share and Forecast services free, for a limited time. The potential benefit to organizations is that this will allow them to efficiently gather and manipulate important market research. As Troy D. Jensen, from Piper Jaffray stated “SIA is an incredible new tool which helps us quickly and intuitively access Synergy’s highly regarded market research. Synergy’s SIA research tool is a great example of what happens when entrepreneurship and technology come together. Synergy has created a powerful and easy to use Web-based research application that will enhance our research efforts and save us time.”

Tips for Google’s New Keyword Tool

Pertaining to market research, I agree with this article’s quote from Avinash Kaushik stating that ‘The goal is not to collect more data ‘ it’s about extracting insight from this data.’ It is especially important to remember at all times when going through data. To help accomplish this goal the article gave tips on how to better utilize Google’s new Keyword Tool. Specifically as the article states they are providing ‘tips on how you can tailor Google Keyword Tool’s data to you needs (much like you would with Google Analytics), and how you can apply this research beyond your SEO and PPC campaign to other marketing activities.’ The tips cover these topics: Selecting countries, generating keywords, setting match type, adding and removing columns, jumping to data, and sorting data. Do you have any insights on marketing research tools that others may find useful?