Different Types of Data Collection Used for Marketing

Data is everything in the world of business. It powers how a business functions, gives business owners useful insight into a customer’s preferences, purchasing choices, and so much more other valuable information. It is, therefore, imperative that the collection of data be done as perfectly as possible to ensure the smoothness of operations.

For marketers, data collection is something that should always be a top priority. There are a number of ways to collect data, and whichever ones a marketer chooses to use will ultimately determine the effectiveness of their market research. Data collection can be broken down into 2 types - primary data and secondary data.

Primary Data

First-hand collected data is often referred to as primary data. These can be data that is collected through interviews, surveys and focus group discussions.?

Secondary Data?

Secondary data is data obtained from other sources. These are data from things like newspapers, magazines or even the internet. Secondary data is much easier and cheaper to be collected than primary data.

Types of Data Collection

There are a myriad of ways of collecting primary data. However, the one thing to always be mindful about is making sure that the method chosen is appropriate and relevant. The market research process is critical and is executed in 6 steps:

1. Define the research objectives
2. Develop an overall research plan
3. Collect the required data for the research
4. Analyse the collected data
5. Present the research findings
6. Apply the newfound information to make an informed decision

Some common methods of collecting primary data include:

• Surveys

Surveys have been used by almost every company from various industries as it’s simply a data collection method that works pretty effectively. Besides being easy to set up and get rolling, surveys have also proved to be a channel where companies receive more honest feedback about their products and services as customers tend to be more truthful when filling out surveys.

• Interviews

Interviews are yet another tried and tested method of data collection. Because of the very nature of interviews, the whole one-on-one and personalised approach allows for companies to collect better data than the other methods of data collection. The type of interview conducted can vary greatly depending on the type of data needed, and thus they can be casual and informal or even structured and professional.

• Focus Groups

Focus groups are great for collecting a large amount of data at the same time, with the average number of people in a group ranging from 3 to 10. They’re great for finding some commonality in your research, however keeping things focused during sessions is essential. Focus groups are mostly used for collecting qualitative data as they’re great for obtaining opinions, but never facts.

• Observations

Observations might be the most economical way to collect data. It is a powerful method of collecting primary data but is not perfect either. Observations are prone to many biases as every individual has their own opinions and views, and that can bleed into the process of data collection.

In conclusion, data collection is pivotal to the success of any business. Businesses can always opt to do their own data collection when conducting market research, however it is far better to go through a digital intelligence agency who would do all that work for you. Digital agencies are more experienced with data collection and can get all the information you need much more precisely and efficiently.

iWISERS has a multitude of social intel solutions and custom objective research services working with brands across APAC. Drop an email at [email protected] or chat with us on LinkedIn, @iWISERS for social intel or industry studies that enable people-centric data-based decision making.