Innovative Online Marketing Research Methods

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Presentation transcript:

Innovative Online Marketing Research Methods Hermann Apostol, Mandy Fogelman, Andrew Kalman, Michele Neher, and Amy Tiso

“Over 80% of market researchers in Europe and North America intend to increase their use of online as a research channel over the next six months.” ~ New Media Age

Article Overview Marketing Research: Online, on tap. ROI Real-Time Marketing Magazine ROI Real-Time Promo Magazine Search for Tomorrow FastCompany Magazine

Marketing Research: Online, on tap. Marketing Magazine

Online Panels: Pros Real Time Results Time and Money Savings Convenient for Consumers More Relaxed Environment Higher Quality Honest and Reasoned Responses Access to Target Audiences Unrestricted by Geography

Online Panels: Cons Online Profile vs. General Population Lengthy Questionnaires  Poor Quality Poor Recruitment and Badly Managed Panels  Damaged Data Technical Problems Higher Programming Costs

Online Research in Practice

ROI Real-Time Promo Magazine

Reasons for Marketing Research Measure Impact of Marketing ROI More complex due to integration New methods developed Digital Promotions

Digital Promotions Research Results Improves ROI Reduces data entry costs Improves data accuracy Saves time Ability to change

Data Collection Ability to Measure Sales & Consumer Behavior Given… Accurate self-entered data Ready-for-use databases Immediacy of real-time results

Search for Tomorrow FastCompany Magazine

Search for Tomorrow Goal of Internet Marketing Research Search-Based Ads; Google & Yahoo Identifying Audiences, Web-surfing Habits Effectively Displaying Ads in Relation to User

Recap: Popular Trends in Online Marketing Research We Discussed the Use Of: Online Panels Online Promotions Search Engines Others Trends: Online Surveys w/ Incentives Monitoring of Web-based forums

Key Points Research is an Essential Part of Marketing. Don’t Let Yourself or Your Company Fall Behind.

Class Discussion What types of online research have you personally participated in? Do you believe that some research methods are better done in the traditional fashion? Why or why not? In class, we talked about the Richness vs. Reach Trade-Off? Which would you prefer?