Marketing Research and Customer Engagement and Why it Matters to Your Business Wednesday January 13, 2010
Presenters:  Mary Olushoga,  Manager, Programs & Education, Count Me In Bianca Cloutier,  Coordinator, Programs & Educatio...
M3 Competition @ The Women’s Summit February 17-18  Houston, Texas Apply to the M3 Competition and start your journey to $...
You are muted. Did you enter your Audio Pin?  Questions??  Type into Question Box OR Raise Your Hand 15 minute Q &A – Did ...
Lynnette Leathers [email_address] www.mindspotinc.com 321.278.4541
Presentation Overview <ul><li>About Mindspot, Inc. </li></ul><ul><li>Important Notes </li></ul><ul><li>Why Market Research...
A Little About Us <ul><li>We love what we do and we are passionate about solving business problems. </li></ul><ul><li>Rese...
Research, Business Solutions & Consumer Engagement <ul><li>Focus on innovation and technology to save time and money </li>...
Research, Business Solutions & Consumer Engagement
Important Notes <ul><li>There are many different types and sizes of businesses in our audience today some market to consum...
Important Notes <ul><li>Big words and statistical terminology will not be used without easy examples    (We conduct Marke...
Why Market Research? <ul><li>Helps you identify Opportunities </li></ul><ul><li>Conversely helps you identify Opportunitie...
Market vs. Marketing Research <ul><li>The terms are used interchangeably; however, there is a technical difference. </li><...
What does the Internet have to do with it? <ul><li>People are the most powerful force on the internet </li></ul><ul><li>Ge...
Groundswell: Winning in a World Transformed by Social Technologies
Facebook Rules <ul><li>Now over 350 million active users on Facebook </li></ul><ul><li>1 million new users every day </li>...
Use It <ul><li>More information and resources available than ever </li></ul><ul><li>We use it to conduct research faster, ...
People Like To Be Heard
Does Your Opinion Matter? <ul><li>Target Market </li></ul><ul><li>People often tell me what they think about commercials o...
Typical Questions That Research Can Answer <ul><li>What products or solutions will you make next? </li></ul><ul><li>Will m...
The Marketing  Research Process <ul><li>Define the problem/objective </li></ul><ul><li>Define the problem/objective again ...
Research Made Easy: Can You Do It Yourself? <ul><li>Secondary:  Can your research objective be fulfilled with information ...
Research Made Easy: Can You Do It Yourself? <ul><li>Primary:  You make it from scratch and there are two types </li></ul><...
Research In Action - Do <ul><li>Talk to your customers </li></ul><ul><li>Mine the Web </li></ul><ul><li>Start a group </li...
Research In Action - Do <ul><li>Share your results if they are not confidential </li></ul><ul><li>Share your findings </li...
Research In Action – Don’t <ul><li>Think you can do without it </li></ul><ul><li>Rely solely on secondary research </li></...
Advantages of  Hiring an Expert <ul><li>Do you have the time to do it yourself…really? </li></ul><ul><li>Expertise? Comple...
Outliers <ul><li>10,000 hours </li></ul>
Resources <ul><li>Trade magazines </li></ul><ul><li>Trade associations </li></ul><ul><li>Industry Websites </li></ul><ul><...
Research Made Easy:  Primary (what you hear about) <ul><li>Qualitative </li></ul><ul><li>Focus Groups  </li></ul><ul><li>I...
Connect <ul><li>Read the Babble Blog </li></ul><ul><li>Social Marketing </li></ul>
<ul><li>Thank You! </li></ul>
Thank you!  Have any Questions? Raise Your Hand  Or Type in Question
M3 Competition @ The Women’s Summit February 17-18  Houston, Texas Apply to the M3 Competition and start your journey to $...
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C M I Research Webinar 1 2

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C M I Research Webinar 1 2

  1. 1. Marketing Research and Customer Engagement and Why it Matters to Your Business Wednesday January 13, 2010
  2. 2. Presenters: Mary Olushoga, Manager, Programs & Education, Count Me In Bianca Cloutier, Coordinator, Programs & Education, Count Me In Lynnette Leathers, President and Founder of Mindspot, Inc. [email_address] Welcome!
  3. 3. M3 Competition @ The Women’s Summit February 17-18 Houston, Texas Apply to the M3 Competition and start your journey to $1 Million! The M3 Competition is designed to help you strengthen your vision, build your strategy and take your business to a million dollars in revenue in the next 12-18 months. You could be selected to pitch your business and win a package of coaching, financing and marketing! Interested in applying? Join the Community and Complete the M3 Application! http://www.makemineamillion.org/grow/content/type/tools/article/930 The M3 Competition is Back!
  4. 4. You are muted. Did you enter your Audio Pin? Questions?? Type into Question Box OR Raise Your Hand 15 minute Q &A – Did you enter your Audio Pin? A few Webinar tips…
  5. 5. Lynnette Leathers [email_address] www.mindspotinc.com 321.278.4541
  6. 6. Presentation Overview <ul><li>About Mindspot, Inc. </li></ul><ul><li>Important Notes </li></ul><ul><li>Why Market Research </li></ul><ul><li>The Research Process </li></ul><ul><li>Research In Action </li></ul><ul><li>Advantages of Hiring an Expert </li></ul><ul><li>Resources </li></ul><ul><li>Questions </li></ul>
  7. 7. A Little About Us <ul><li>We love what we do and we are passionate about solving business problems. </li></ul><ul><li>Research and technology are tools that we use to solve business problems, uncover opportunities, reduce risk, and build customer loyalty. </li></ul>
  8. 8. Research, Business Solutions & Consumer Engagement <ul><li>Focus on innovation and technology to save time and money </li></ul><ul><li>Leaders in the online space </li></ul><ul><li>Market research AND business solution company </li></ul><ul><li>Experienced with FMCG, CPG, B2C, B2B, Dining, and Retail </li></ul><ul><li>Core offers: Cutting-edge consumer insights that utilize technology to innovate, collaborate, connect, and build loyalty with your customers </li></ul><ul><li>We work in real time </li></ul>
  9. 9. Research, Business Solutions & Consumer Engagement
  10. 10. Important Notes <ul><li>There are many different types and sizes of businesses in our audience today some market to consumers and some market to businesses. </li></ul><ul><li>Therefore, I would like to note that you may know some things already and some things might be just a bit more than you need. However, I have worked hard to ensure that there will be learning for everyone in the next hour. </li></ul>
  11. 11. Important Notes <ul><li>Big words and statistical terminology will not be used without easy examples  (We conduct Marketing Research too!) </li></ul><ul><li>Definitions and Methodologies can be widely disputed and the terms used today are the terms that I use with my clients in day-to-day business use and that we use internally as our working definitions. They are as good as any…and in my opinion better than most. </li></ul>
  12. 12. Why Market Research? <ul><li>Helps you identify Opportunities </li></ul><ul><li>Conversely helps you identify Opportunities to Improve </li></ul><ul><li>Helps reduce/minimize risk </li></ul><ul><li>Helps create benchmarks and helps to measure progress </li></ul>
  13. 13. Market vs. Marketing Research <ul><li>The terms are used interchangeably; however, there is a technical difference. </li></ul><ul><li>Market Research is about Markets. It is broader in scope and examines all aspects of a business environment. Specifically market size and trends. </li></ul><ul><li>Marketing Research is about the process- the system of gathering, collecting, analyzing and disseminating data related to the marketing of products and services. </li></ul><ul><li>It’s been said that consumer marketing research is a form of applied sociology that concentrates on understanding the attitudes, preferences, and behaviors of consumers and aims to understand their effects on sales and other identified metrics. </li></ul>
  14. 14. What does the Internet have to do with it? <ul><li>People are the most powerful force on the internet </li></ul><ul><li>Geographic boundaries no longer constrain participation </li></ul><ul><li>Bigger voices and greater influence </li></ul><ul><li>Consumers are leading the conversation </li></ul><ul><li>Marketers can participate — or choose not to at their peril </li></ul>
  15. 15. Groundswell: Winning in a World Transformed by Social Technologies
  16. 16. Facebook Rules <ul><li>Now over 350 million active users on Facebook </li></ul><ul><li>1 million new users every day </li></ul><ul><li>The average user spends 22 minutes a day on the site </li></ul><ul><li>&quot;Facebook's mission is to give people the power to share and make the world more open and connected.” </li></ul><ul><li>“ It’s not social networking anymore....it’s social marketing.” </li></ul><ul><li>*Source: Mike Haines RVP Facebook November 18, 2009 </li></ul>
  17. 17. Use It <ul><li>More information and resources available than ever </li></ul><ul><li>We use it to conduct research faster, reduce our costs, and connect with consumers on their terms </li></ul><ul><li>Collect competitive information, market information, and public information to help your business </li></ul>
  18. 18. People Like To Be Heard
  19. 19. Does Your Opinion Matter? <ul><li>Target Market </li></ul><ul><li>People often tell me what they think about commercials or ads because they know I work in the business. </li></ul><ul><li>Do I care? Only if they are in the target market. Know who your customer is! </li></ul><ul><li>Define the demographic, geographic, and any other profile that you can about your customer. Research can help you discover more about them. </li></ul>
  20. 20. Typical Questions That Research Can Answer <ul><li>What products or solutions will you make next? </li></ul><ul><li>Will my target consumer purchase? </li></ul><ul><li>How much? </li></ul><ul><li>What products or solutions will generate the most revenue, the best profit? </li></ul><ul><li>What products or solutions will be in demand? </li></ul><ul><li>When will these products or solutions be required? </li></ul><ul><li>Price range? </li></ul><ul><li>What will be the selling point or the competitive advantages? </li></ul><ul><li>What are the perceived benefits for the customers? </li></ul>
  21. 21. The Marketing Research Process <ul><li>Define the problem/objective </li></ul><ul><li>Define the problem/objective again </li></ul><ul><li>Identify data types and sources </li></ul><ul><ul><ul><li>Can you answer your questions with what you have already? </li></ul></ul></ul><ul><li>Determine research design </li></ul><ul><ul><ul><li>Can you do it yourself or not </li></ul></ul></ul><ul><ul><ul><li>Pros – Cons </li></ul></ul></ul><ul><ul><ul><li>What type of research is appropriate </li></ul></ul></ul>
  22. 22. Research Made Easy: Can You Do It Yourself? <ul><li>Secondary: Can your research objective be fulfilled with information that exists already? </li></ul><ul><li>Do you have the answer in internal data? </li></ul><ul><li>Can you get it easily for no cost or low cost? </li></ul><ul><li>Is it reliable? </li></ul><ul><li>Errors and accuracy? </li></ul><ul><li>Is it objective? </li></ul><ul><li>Is it biased? </li></ul><ul><li>How current is the information? </li></ul><ul><li>Is it sound? </li></ul>
  23. 23. Research Made Easy: Can You Do It Yourself? <ul><li>Primary: You make it from scratch and there are two types </li></ul><ul><li>Qualitative: Usually exploratory in nature and do not seek to quantify a market or opportunity </li></ul><ul><ul><li>Focus Groups </li></ul></ul><ul><ul><li>Individual Interviews </li></ul></ul><ul><ul><li>Ethnography </li></ul></ul><ul><li>Quantitative: Seek to quantify the results and typically seek statistically reliability. They seek to measure and are descriptive. </li></ul><ul><li>Surveys – any kind (many types; however, common themes are: Customer Satisfaction, Attitude & Usage, Consumer Segmentation, Ad tracking, ....) </li></ul><ul><li>Segmentation </li></ul>
  24. 24. Research In Action - Do <ul><li>Talk to your customers </li></ul><ul><li>Mine the Web </li></ul><ul><li>Start a group </li></ul><ul><li>Attend conferences/forums where your customers congregate </li></ul>
  25. 25. Research In Action - Do <ul><li>Share your results if they are not confidential </li></ul><ul><li>Share your findings </li></ul>
  26. 26. Research In Action – Don’t <ul><li>Think you can do without it </li></ul><ul><li>Rely solely on secondary research </li></ul><ul><li>Rely solely on the Web - You may need to go “deep web” or pay </li></ul><ul><li>Rely on a Family Focus group </li></ul><ul><li>Think your competition isn’t doing theirs </li></ul><ul><li>Think it will last forever </li></ul>
  27. 27. Advantages of Hiring an Expert <ul><li>Do you have the time to do it yourself…really? </li></ul><ul><li>Expertise? Complexity? </li></ul><ul><li>Budget? </li></ul><ul><li>Bias? </li></ul><ul><li>End-use </li></ul><ul><li>Risk </li></ul>
  28. 28. Outliers <ul><li>10,000 hours </li></ul>
  29. 29. Resources <ul><li>Trade magazines </li></ul><ul><li>Trade associations </li></ul><ul><li>Industry Websites </li></ul><ul><li>Annual reports </li></ul><ul><li>Visit competitors </li></ul><ul><li>Chamber of Commerce </li></ul><ul><li>The Web! </li></ul><ul><li>Bureau of Labor Statistics </li></ul><ul><li>Internet Public Library </li></ul><ul><li>Fed Stats </li></ul><ul><li>American Marketing Association – Demographic Statistics Demographic data by zip code for every U.S. state </li></ul>
  30. 30. Research Made Easy: Primary (what you hear about) <ul><li>Qualitative </li></ul><ul><li>Focus Groups </li></ul><ul><li>Individual Interviews </li></ul><ul><li>Ethnography </li></ul><ul><li>Quantitative </li></ul><ul><li>Surveys – any kind (many types; however, common themes are: Customer Satisfaction, Attitude & Usage, Consumer Segmentation, Concept testing, Ad-tracking, …) </li></ul>
  31. 31. Connect <ul><li>Read the Babble Blog </li></ul><ul><li>Social Marketing </li></ul>
  32. 32. <ul><li>Thank You! </li></ul>
  33. 33. Thank you! Have any Questions? Raise Your Hand Or Type in Question
  34. 34. M3 Competition @ The Women’s Summit February 17-18 Houston, Texas Apply to the M3 Competition and start your journey to $1 Million! The M3 Competition is designed to help you strengthen your vision, build your strategy and take your business to a million dollars in revenue in the next 12-18 months. You could be selected to pitch your business and win a package of coaching, financing and marketing! Interested in applying? Join the Community and Complete the M3 Application! http://www.makemineamillion.org/grow/content/type/tools/article/930 The M3 Competition is Back!

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