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

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

Marketing Research: Online, on tap. Marketing Magazine

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

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

Online Research in Practice

ROI Real-Time Promo Magazine

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

Digital Promotions Research Results Improves ROI Research Results Improves ROI 1.Reduces data entry costs 2.Improves data accuracy 3.Saves time 4.Ability to change

Data Collection Ability to Measure Sales & Consumer Behavior Ability to Measure Sales & Consumer Behavior Given… 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 Goal of Internet Marketing Research Search-Based Ads; Google & Yahoo Search-Based Ads; Google & YahooGoogleYahooGoogleYahoo Identifying Audiences, Web-surfing Habits Identifying Audiences, Web-surfing Habits Effectively Displaying Ads in Relation to User Effectively Displaying Ads in Relation to User

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

Key Points Research is an Essential Part of Marketing. Research is an Essential Part of Marketing. Dont Let Yourself or Your Company Fall Behind. Dont Let Yourself or Your Company Fall Behind.

Class Discussion What types of online research have you personally participated in? 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? 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? In class, we talked about the Richness vs. Reach Trade-Off? Which would you prefer?