What are the pros and cons of primary vs secondary marketing research?

Working previously in Market Research, primary research has the advantage of gathering data and feedback directly from users. This provides first-hand insights that can be incredibly valuable in building and improving products. Additionally, direct quotes from users can be used to guide product decisions and marketing messaging. However, the main disadvantage of primary research is the cost involved in conducting surveys, focus groups, and other forms of research. This can be a barrier for smaller companies or startups with limited budgets.

Small organizations, research groups with budget challenges, and large organizations that lack an engagement platform may all need to be highly targeted and lean in their approach to collecting primary research. You may only get one shot. As a research head for my organization, our standard approach to any research project was to begin scrubbing secondary research for recurring themes and for evidence that existing business assumptions were shared or validated by others. We used a proprietary system to grade the credibility of that research as well. The aggregate narrative provides clues to patterns and perceptions that can be interrogated in primary research with precision, providing excellent intelligence ROI.

Primary research gives your organization an edge you don't experience with secondary research. When you collect quantitative data from internal studies, surveys, or product usage, then suddenly you are the thought leader with new insights. Typically, primary research findings lead to others referencing your organization and data in their content - elevating your authority in the market. Primary research increases the likelihood that media sources will take interest in, and publish your content, so it can be a great catalyst in your PR efforts.

No one can deny the power and utility of primary research. It is as current as physically possible and provides concrete answers to both broad and niche questions while also elevating a brand through customer interaction. However, the main drawback with Primary research is that it is often just not conceivable for many small-medium companies, at least on the scale most envision. To combat this, use the tools available. Social media has several different tools, from surveys to DMs that create daily opportunities. Mailing lists, newsletters, all of these minor channels yield valuable information, the key is to design them with the intent to collect that information in a comprehensive and calculated manner.

Primary research, and the resulting unique insight, is what drives differentiation and value to organizations. However, I disagree with the premise that it is always expensive, time-consuming and complex to design. The methodology can be as simple as 1:1 interviews with your target user leveraging the Jobs to Be Done Interview approach which requires next to no time or cost at all. Many organizations stop short of investing in primary research because they feel the need to engage research professionals for everything. Rather, an initial approach of doing the customer/user interviews yourself, being careful to not inject your own biases, can yield valuable insights into any business idea or problem at minimal investment levels.

Small organizations rarely have the luxury of being able to create their own research. There are plenty of reasons why primary research can be difficult (budget, access to an audience, technical skill set, etc) and as a result many organizations rely heavily on secondary research. It's a practice we all commonly accept. You'll frequently see presentations or websites that reference organizations like Gallup, Forrester, HBR, etc. Those institutions are built with a focus on creating, selling, and promoting their research. Though it doesn't provide some of the power or "flash" associated with primary research, you can bank on it being accurate and credible.

From my experience, secondary research is a quick and cost-effective method of gathering information. Unlike primary research, which involves conducting original research and data collection, secondary research involves analyzing existing sources such as books, articles, and databases. This type of research is especially useful when time and resources are limited, as it allows you to gather information quickly and inexpensively. One of my favorite secondary research tactics is leveraging social data - Doing a quick scan on Twitter, Reddit or other lively forums based on topic allows me to draw patterns simply by scrolling on my device.

Secondary research is a good starting place for clarifying most questions(i.e., helping us know what is not happening in that space), but it rarely answers what is being asked. Sizing a TAM, there’s data for that. Understanding key purchase drivers or trends in an industry or focus area, there’s bound to be published data from reputable sources. Even if the data isn’t related directly to your industry, analogous findings from some sectors can be applied to others. It’s important to monitor macro trends in industries, not just your own, but to also take the time to consider how it relates to your sector and business, and how you can leverage this trend; and then test an action. It’s those last two steps that make all the difference.

Secondary research must rely only on reliable data sources, which can be expensive and prohibitive for SMEs. However, there are many SaaS tools nowadays that facilitate access to secondary data, for example from social media feeds, reviews and data about customers ' interactions with companies touch points. Public reports from institutes and think tankers such as Mintel, Statista, Gartner, and many others, are a good source of secondary data too.

When helping clients figure out what research to do, I would start with the path of least resistance. Why recreate the wheel if there's good industry information out there. When I worked in analytics, I used to tell my clients to prioritize research like this: - Gather your historical data and see what patterns arise - If you don't have historical in-house data, see if you can pull competitor data - Look for industry data / best practices - Use those as a baseline while you work to gather data on your own, whether that's through an ambitious research project or something less formal

Its incredible what you can achieve once you have undertaken market research - seeing how you can power up so many other aspects of your marketing plan is just amazing! If you demonstrate this as a key part of your overall strategy to your team, it makes such a difference ??