Ron Consolino is a management counselor for SCORE, Counselors to America’s Small Business and he offers up a great strategy for developing a market research strategy for a small company.
He writes, “Your market research can be as informal as observing customers in the store or doing a survey, and as elaborate as conducting a full-scale research program with focus groups and computer- generated maps.” Consolino also offers up the idea of using a market research firm if you have the budget for that service.
Learn more: Valuable research not costly
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An interesting fact – purchasing environments have significantly changed in the past year – with 37% of shoppers saying they will stick with the private label brands they chose during the recession1. How well do you know your post-recession shoppers?
The Evolution of Packaging & Purchasing Environments
Craig M. Vogel
University of Cincinnati
Using Social Media to Gain Insights for Packaging Innovation
…and so much more!
PROOF: Market Research for Package Design
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eMarketer.com reports that The Center for Marketing Research at the University of Massachusetts Dartmouth has followed up on its 2007 and 2008 studies of social media usage by the Inc. 500. Adoption and awareness continue to trend upward, with 91% of firms using at least one social media tool in 2009 and three-quarters describing themselves as ‘very familiar’ with social networking.
Social networking and blogging have seen the most growth in adoption, while other technologies have flattened or even declined in use, including wikis and online video. Twitter usage, of course, has caught on quickly’more than one-half of businesses reported tweeting in 2009. This was the first year respondents were polled about Twitter.
Social Media Marketers Declare Success
We’ve seen the success of social media marketing in market research; but how about you? Are you seeing success with this new marketing medium?
Emily Steel of The Wall Street Journal reports that many market researchers are now looking to web chats and alternative new media methods for their research. Steel writes, for decades, advertisers have relied heavily on sometimes-dated consumer surveys and focus groups to provide grist for their ads. Now, some are using new technologies to scan the Web for key words to find out what consumers are’and aren’t’saying about their brands. Then, they are incorporating those findings into their more-conventional research and using them not only to choose the overall themes of their marketing campaigns, but also specific text and photos for their ads.
Have you used any of these tactics in your research? What successes or failures have you experienced?
Marketers Find Web Chat Can Be Inspiring
Tamara Barber, writing for Research-live.com says it’s time for the industry to embrace online communities as a research tool ‘ and defends the increasingly unfashionable term ‘Web 2.0′
Barber writes, over the past month, through gatherings such as the IIR’s Market Research Event, the Esomar Online Research conference and Forrester’s Consumer Forum, researchers have been buzzing about how to incorporate Web 2.0 ‘ or social media ‘ into their research mix, how to use the internet for crowdsourcing ideas, and whether customer insights are the same as market research. Clearly, it’s time for our industry to innovate, and no doubt companies like BrainJuicer, Invoke Solutions, Communispace and others are teaching the rest of us how to think outside the radio button online survey and adopt the next evolution of online market research.
Take a look at the rest of Tamara’s article and let us know your thoughts. Are we moving to Web 2.0 or past it?
We’re live this week at The Market Research Event 2009 and we invite you to follow along with us via our blog and Twitter. Among our great presentations this year, we’d like to share one with you that’s specific to social media, written by our guest blogger, April Bell.
Well, I am here for my first session at The Market Research Event in Las Vegas. What a great first session to blog about: Facebook. Meg Sloan, research lead at Facebook and Brant Cruz of Chadwick Martin Bailey shared a little glimpse of what life inside Facebook is like.
Currently, Facebook has 300 million users worldwide and at least 1/2 of their users go to the site daily! Wow! How do they do it? Here’s a tidbit….
Their guiding principles include:
Synthesis & Story-telling
Meg also gave us insight into how they view their small marketing research team:
1. Try our best to act like the rest of the org
2. Radical focus on the roadmap and prioritization
3. Making sure we all are doing things we feel strong at each day (staying motivated)
4. Supporting each other/sharing information/work etc.
5. Be nimble and use our resources and relationships to their fullest.
And last but not least: Ruthless Prioritization as well as Have Fun and create an awesome workplace. Their Q3 planning meeting involved pedicures–sign me up!
You can see more about life inside the marketing research team at Facebook. Check out this video about “life at facebook.”
Oh, and by the way, they currently have a marketing research position open for anyone who is interested…
Future Trends 2009 is your opportunity to join industry experts, corporate visionaries, trendsetters and other revolutionaries to uncover and action the trends that matter most to your business, brand and service. Look not only into the immediate future and way ahead- where will we be in 50 years or more? And focus on making it relevant for your business – before others do. Lead your team to relate trends to make decisions, engage in real conversations, and create meaningful change.
November 2-4, 2009
The Eden Roc
Event Website: http://bit.ly/1fuADz
Brochure Download: http://bit.ly/1kydRE
AdAge reports that Edward G. Martin of Hershey Co. and The CMO Council are introducing Pause to Support a Cause, a new campaign that will donate to causes for people who participate in research programs.
AdAge writes, Pause to Support a Cause is a milestone campaign from the Chief Marketing Officer Council that will unite global corporations and public sector partners in a new initiative to survey the socially beneficial way by donating on behalf of those participating in funded market research programs around the world. This corporate social responsibility campaign will use a portion of the $18.9 billion spent on market research worldwide to create a global community of nonprofit champions, boosters, supporters and members willing to take part in online surveys as a way to channel funds to their designated causes, charities, foundations and nonprofit organizations of choice.
Martin says that the goal of Pause to Support a Cause is to bring a larger and broader group of people into the research process while also including those groups that have been historically under-represented in market research, such as the African-American, Asian and Hispanic communities.
Will this promotion has a positive and large following after its introduction? We’d like to hear if you could utilize this in your research.
The Era of Rewarding Research
The Market Research Event 2009 keynote speaker Martin Lindstrom interviews Seth Godin in a video interview as seen on AdAge.
About Seth Godin:
Godin is author of ten books that have been bestsellers around the world and changed the way people think about marketing, change and work. His books have been translated into more than 20 languages, and his ebooks are among the most popular ever published. He is responsible for many words in the marketer’s vocabulary, including permission marketing, ideaviruses, purple cows, the dip and sneezers. His irrepressible speaking style and no-holds-barred blog have helped him create a large following around the world.
Seth’s latest book, Tribes, is a nationwide bestseller, appearing on the Amazon, New York Times, BusinessWeek and Wall Street Journal bestseller lists. It’s about the most powerful form of marketing–leadership–and how anyone can now become a leader, creating movements that matter. The Miami Herald listed it among the best business books of 2008.
Bio courtesy of sethgodin.com