Types of Research Quantitative Vs. QualitativeInternal Vs. External Pre and Post Advertising
Types of Data Demographics Socioeconomics Firmographics Peer/Aspirant Psychographics
Questions to Ask: External How many customers could I have? (market size) How many customers am I missing? (market penetration) Is there a need for this product or service? (market need) Where’s the best place to locate my business? (market concentration) Who else is selling a similar product or service? (competition) What are different types of customers? (segmentation) What is the decision process for a buying customer? (motivation) Where is my industry going? (trend)
Data SourcesExternal Primary: Surveys, Focus Groups Secondary:
Data SourcesExternal Commercial: American Marketing Association Advertising Age Inc MagazineHarvard Business Review Hoovers
Data SourcesExternal Social Twitter LinkedIn Company.com SocialMention Technorati
Data Sources As It Happens Google Alert SocialMention Alert RSS Feeds
Questions to Ask: Internal Who are my customers? Where do they live? What do they do? Who are my best customers? Worst? How often do they buy? How much do they typically spend? How loyal are they to my product/service? What is their main motivation for buying? How have my customers changed? What else are they looking for? Why do they leave?
Data SourcesInternal Market web analytics surveys post purchase questionnaires focus groups case studies mystery shoppers catered lunch questionnaires top five best/worst interviews
Marketing Research Any organized effort to gather information about methodologies, processes, campaigns to reach your market.
Marketing ResearchPost Advertising What is the best way to talk about my product/service? What defines success in a campaign? (volume vs. quality) What channels should I choose? Which channels were most successful? What was my return on investment?
Data SourcesPost Advertising A/B Testing Advertising Tracking Goal Funneling
Gather data because you want to do something with what you find.