You’re conducting market research. How can you ensure you’re using the best tools?

BACK GROUND 1879 N. W. Ayer surveyed state and local officials about expected levels of grain production (key information for farm equipment) 1921 the first textbook on marketing research 1930 the first marketing research course IMPORTANCE Marketing research is related to data recollection, analysis and generation of useful information, that will be a big asset, when taking decisions. OBJECTIVE ? Identify customer needs and expectations ? Reduce marketing costs ? Proper price policy identification ? Target market and find new opportunities ? Identify product deficiencies ? Position the product in the market Your first step will be, define the objective of your research, the market target and who will do it!

Tratemos, siempre, que los objetivos sean claros y concretos. Un "MVP" de lo que quiero lograr con la investigacion. Que informacion quiero obtener, que datos quiero detectar, que aporte quiero brindar? Luego entraremos en los participantes del proceso, sectores, herramientas, dinamicas, pero que no sean parte del objetivo. Resta claridad.

When you start your research, the first step is to define your objective. This means figuring out what you want to accomplish or find out through a research. It's like having a target or goal in mind. By clearly defining an objective, we can focus our efforts and make sure we're heading in the right direction. It's kind a like having a roadmap for your research journey!

Definir los metodos no es un tema menor. Se refiere al "como" voy a lograr los objetivos. Que dinamicas de analisis/investigacion voy a utilizar? Entrevistas, focus group, research digital, bencharmks, etc. Definir los beneficios de cada metodo y las desventajas. Para luego, definir que vamos a buscar con cada metodo, en que parte del proceso hare entrevistas, y en que parte del proceso hare focus groups. De esta manera se ira armando el roadmap de la investigacion.

DYI or MARKETING RESEARCH SERVICES Consider third party services, when a certain level of expertise is required or to prevent internal bias from impacting the outcome. Look for a company that can handle the data but also, provides input and direction into marketing decisions (marketing planning and strategy) TYPES OF RESEARCH Exploratory: if the problem is not clear Descriptive: to gather more information (who, what, when, where, and how) Casual: when a variable affects the results of another (spurious association) PROCEDURE Qualitative: explorative Quantitative: descriptive and casual Both: if a mixed design is required If cost and time is an issue, the researcher must look for quicker method of collecting data.

When we are thinking of tools, there are hundred online software options, the TOP 7 could be: ? Similarweb Digital Research Intelligence with competitive benchmarking ?Think with Google with find my Audience (YouTube) ? Answer the Public with search listening alerts ? SurveyMonkey with a library of hundreds of questions, pre-written by survey methodologists. ? Similarweb Shopper Intelligence with cross-shopping analysis (how loyal a segment of customers is to a brand) ? Latana B2C with MoE (margin of error), providing transparency on data confidence levels. ? Hootsuite with multi-channel insights (best online research tool for social listening and monitoring)

WHICH TOOL USE? All will depend on the type of research (qualitative or quantitative) and the objectives you defined, on the first stages of the process. As you could imagine, internet has become the best tool for secondary market research data (but be aware of its validity). Budget and tools features will usually be a good parameter to make a decision. Most available tools have free limited version or short time demo period. For qualitative tools you may consider BIT.ai’s and for quantitative tools join forces with Similarweb Digital Research Intelligence and Tableau, in order to collect, analyze, and present data in the most useful way possible. Test, request feedback and evaluate, with tool adapt better to your research process.

Shortest and simplest way for identifying for the market research is, first we need to identify what are the outcomes we are looking to achieve from our research. After that we see what are the available tools in the market which are aligned with the research you are conducting. Thirdly, what we should do is, a bit of research on the available tools and what is the feedback of the researcher regarding the use of the tools. And we will also focus on what are the short comings of that particular tool.

An example i have seen is to choose a tool based on the outcome first of all and the available in the market also as per budget. As per your outcome then choose your tool which will take less budget and time. Internet is the best trending secondary research tool at this hour. Budget with tool and time are the parameters to lookout for a researcher. In the end, the feedback evaluation is must to use in the research process

The purpose of any research is to gain valuable and actionable insights. The first is to understand what is required - a form like Survey Monkey to gather data? or data visualization tool crunching raw data into dashboards that aids in better decisions. Objectives, Research methodology, costs and budget available, data security and compliances all form part of the key first step here.

FIT FOR ALL The marketing research is in constant learning, developing new ways to gather data, improving how to validate, analyze and present it, so there is no such "fit for all tool". You will have to use a mix of different tools and most important, take the time to know how they work and train your people. If you decide to hire a third-party marketing research company, look for the one, that your company is not another "client". Look for those rare companies that care about your success and will handle your data, as if their future depends on a good analysis. Best companies understand the win-win philosophy, in which your success is their success too! Communication and trusted data interpretation is a key factor for success.

The challenge is gathering accurate and unbiased data. It can be tricky to ensure that sample represents the target market accurately. Another challenge is analyzing the data effectively. Making sense of all the information collected can be overwhelming. As for parameters, we have to consider things like target market demographics, consumer preferences, market trends, and competition. These factors will help in gaining a better understanding of the market landscape.

Lors de la sélection des outils pour les études quantitatives, je dirais que l’obstacle majeure est l’absence des caractéristiques de la population cible. Il est donc impossible de faire un échantillon représentatif et donc une étude représentative de notre population d’étude.

Outline your research objectives Know your target audience & the demographics you want to study. Evaluate whether your target audience is better reached through online or offline channels. Combine both quantitative & qualitative research methods as each method provides unique insights. Look for industry-recognized tools with a history of delivering accurate data. Choose tools that allow for customization based on your needs. Prioritize tools that prioritize data security & comply with relevant regulations. If you plan to expand your research in the future, ensure that the tools can handle increased data volume & complexities. If you already use other tools check if the market research tools can seamlessly integrate with them.

Once in the consultancy work for fashion brands, I encountered the complexity of understanding market dynamics and consumer expectations. In this context, the choice of market research tools became crucial to steer effective and innovative strategies.