|
Author: Ken Jurina Article source: http://www.functionfox.com/. Used with author's permission.
The most integral part of any marketing initiative is market research. Comprehensive market research identifies the wants and needs of your potential target market, but also provides information that creates strategic and informative business decisions to target your most profitable market.
Market Research Collection
Where does this information come from? What are the most common means of conducting market research? Focus groups and questionnaires are two well-established methodologies. Both have the ability to record and examine quantitative and qualitative factors such as verbal and visual information. However, are they fully reliable as untainted sources of marketing information? There are a number of factors which may blemish these research results:
* Focus Groups: Participants may alter their own answers to mimic the responses by other participants, or they may be inadvertently influenced by focus group moderators.
* Questionnaires: Survey questions, formatting, & content may influence participants to select one answer over another. Distractions while completing the survey may also produce biased information.
In contrast to these two traditional research methods, a relatively new form of conducting marketing research exists, gathering information online and serving up timely, accurate, and - most importantly - unbiased data, directly from your target market. Sound too good to be true? Not at all.
Internet Market Research Collection
The Internet has opened the door and reset the bar for market research. Sometimes still (erroneously) classified as a new marketing medium, the Internet is growing at the astonishing rate of 60,000 new web sites per day! Virtually all markets and languages show continuous activity and growth. Gathered within this environment of high speeds, low costs, and near perfect anonymity, Internet market research is proving to be increasingly viable and insightful when conducted independently, or as a valuable complement when integrated with more traditional marketing research methodologies.
Roughly 450 million online searches occur each day (JupiterResearch, 2005). Search engines like Yahoo!, AOL, MSN, Ask Jeeves, and the ubiquitous Google capture and record the exact phrases that searchers are using to find a specific product or service. Search engine users, typing unprompted words and phrases into empty search engine fields, are impartial and uninfluenced when conducting their searches.
Consequently, the information gathered and leveraged from this medium is invaluable from a marketing research perspective. Imagine gathering impartial information from literally millions of people - each day - and basing your marketing campaigns on this data. In most cases, it is used for search engine optimization (SEO), to enhance the effectiveness of a web site for certain keywords and phrases highly searched for online. However, as the power of this marketing research is increasingly being discovered and recognized, it is also being used to power a wide range of offline activities.
So What, You Ask?
Well, considering that online research drives 70 percent or more of offline purchases (iMedia, 2004), it's undeniable that having a highly visible and functional web presence is vital. An optimized web site ensures that it is ranked high in the search engines for particular search phrases.
Ranking highly in search results is extremely effective in ensuring that potential customers will find you at the most opportune time within the buying cycle - when they are ready to learn, compare, and of course, buy! This is critical to any organization with an online presence.
How else can better research and SEO help your business? It can increase lead generation, reduce operational costs, increase customer loyalty, improve partner or channel development, and offer extensive market analysis.
Lesser Known Uses Of Internet Market Research
Let's take a look at offline marketing activities as well. Not only can online research be used for web site development, but it can also be a great benefit for many areas used within integrated marketing communication (IMC) elements such as advertising, PR, interactive communication activities, and numerous other business functions. Here are just a few examples:
* Branding: Increase your profile and brand awareness. Sixty percent of searchers' brand opinions were changed or enhanced as a result of online research (American Interactive Consumer Survey, 2004). SEO market research can be used to correctly understand the behavior of your target market. By using keyword research that reflects your brand positioning, you can both enhance your brand and increase your chances of getting found by web searchers.
* Competitive Analysis: Discover your market position. Market research can determine how your company and products measure alongside your industry competitors.
* New Opportunities: Satisfy your potential customers. Research can provide insight into new market opportunities you may never have discovered. As well, research can identify new business ventures, and offer the possibility to streamline your business processes.
* Public Relations: Be research ready. A press release can benefit from market research by ensuring that the appropriate content and language is used, allowing your target market to find it quickly and easily. With 98 percent of journalists performing research online (PR Web, 2005), take advantage of this opportunity, and have an online press release optimized with extensive market research.
* Investor Relations: Strengthen your business. You can build rapport with current and potential investors, and supplement marketing and strategic direction using information identified within Internet marketing research reports.
Applying Internet Market Research
The ultimate goal is to make the research work for you. While Internet market research is an integral step in improving your visibility online, its quality and flexibility of use allow it to be effortlessly applied to all aspects of marketing activities. Consider how doing better internet marketing research could work for you. This article has been provided by Epiar Inc. Author Ken Jurina (ken@epiar.com)is President of Epiar Inc., Canada's premiere search engine optimization company based in Edmonton, Alberta. For more information, please visit http://www.epiar.com
Credit Reporting Agencies
Credit reporting agencies maintain electronic records of your credit activities. Today, there are three major national credit bureaus: Equifax, Experian and Tra...
Online Stock Trading: Freedom of Trade
Ready to invest all by yourself? You've got all the tools are your fingertips when you're ready to trade online, or do you? We'll show you the pros and cons of...
Becoming A Website Designer
The ability to create simple, attractive and functional web pages is a highly marketable skill. Here's a quick, low-cost way to get started...
Top 20 Items To Pack In A Diaper Bag
Not sure what you need to stash in your baby's diaper bag? Get a great list of some obvious items and several things you probably never thought you would need.....
Go Ahead... Journal! (Taking Time To Record My Souls Journey With God)
How many times can you say of a book, "I relate to the heart and soul of this person?"
Ten Poker Tips for Bigger Online Profits
Many players wanting to play online poker for the first time think it is easier than it really is to make big money. While you can make big money, you need to b...
Ortho Tri Cyclen Guide
Do you have top rankings in Google? Is your site filled to the brim with articles and info on Ortho TriCyclen birth control pills? Skyrocket your conversion rat...
Unique Marketing Ideas That Generate Cash!
Are you looking for some new ways to build your bottom line this month?
Healthy Eating
Recently I found the book : "Eating and health according to the teaching work of The Master Peter Deunov" . I've never red something so simple and so sensefu...
Multi Level Marketing (mlm)... Is It Taboo?
MLM or multi level marketing can be the way to succeed with an online business, is this true. Read on to learn more!
Romantic Honeymoon Vacations
Beach vacations continue to be the most popular choice for a romantic honeymoon getaway. Honeymoons are the ultimate romantic vacation and just about any desti...
The Simplest Weight Loss Tips No One Follows!
There are some amazingly simple behaviors and strategies we
can all add to our nutritional goals and workout plans that
will have a positive effect. Using my ow...
Your Organizing DNA
The road to becoming and remaining organized doesn't necessarily reflect a 'one-size-fits-all' approach. There are styles of paper management and it's important...
Camping - Get Those Tents Up!
Camping - Get Those Tents Up reveals how much fun you could be having with all the family for just a few dollars if your looking for a 2 week fishing and huntin...
Tips for Playing Better Poker
Poker has been gaining such popularity lately that many people are looking for the secrets of the pros to help them play a better game.
Five Tips to De-stress Your Life
I'll bet that you can identify something generating stress in your life right now that you've been carrying for a while ... something that was probably stressin...
How to Apply the 12 Steps for Managment Conflict and Resolution
One of the reasons for the success of the 12 Step programs
is that they are based on solid principles that can be
applied to many areas of life, and that incl...
Quick Tip - Effective Meetings Have SMART Goals
Here are five criteria for goals that lead to effective meetings.
Divide and Conquer The Secret to Booking Gigs
Most everything you are told about booking gigs is wrong. This report is meant to deprogram you and tell you what no one will share about really booking better ...
How To Know You Are Living Your Dream
Life is about balance. And never is this more accurate then when you decide to really go for it in life to start living your dream!
Powerful Options Basics Lessons Improving your trading in 180 days.
An option is a traded security that is a derivative product. The term is mainly known by the word options...
How to Choose the Right Air Conditioner Filter
The air filter in an air conditioning system keeps the cooling coils and air inside the room clean and free from all pollutants, pet dander, ozone emissions and...
Budgeting Tips to Save Real Money
Sticking to a budget can be difficult. What should you do if you have already spent more money than you have? Here are several real world ideas that can help yo...
Management From Within
Inspiration and Management from Within - Part 2. The more you follow the path of exploration into the mystery of life, the more life becomes revealed to you. Li...
|
Print this page