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Market Research: Do You Know Why Your Customers Do What They Do?

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Feb 2013 Webinar: How to get the most from your research budget. Find out how to determine what you really need to know. Learn how to define your approach, assemble the best research team, and then interpret the data to help you refine your lead generation, branding, and product development programs.

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Market Research: Do You Know Why Your Customers Do What They Do?

  1. 1. Natural ImpulsesTapping into the emotions that drive buyer behaviorDO YOU KNOW WHY YOURCUSTOMERS DO WHATTHEY DO?Make qualitative researchyour best friend
  2. 2. Natural ImpulsesTapping into the emotions that drive buyer behaviorWHO ARE WE?Principals of Natural ImpulsesMary SamuelsonJoy Ward
  3. 3. Natural ImpulsesTapping into the emotions that drive buyer behaviorWHERE ARE WE GOING?What are the differences between quantitative andqualitative research?What should you expect from each type ofresearch?What should you not expectfrom both?
  4. 4. Natural ImpulsesTapping into the emotions that drive buyer behaviorQUANTITATIVE RESEARCH, BIG DATA ANDANALYTICSQuantitative Research will tell you what peopledo. What it won’t tell you is why they do it.
  5. 5. Natural ImpulsesTapping into the emotions that drive buyer behaviorUNDERSTANDING QUALITATIVE RESEARCHWhat IS qualitative research?•Used to identify emotional and behavioralpatterns•Looks for WHY and how a behavior is formed
  6. 6. Natural ImpulsesTapping into the emotions that drive buyer behaviorUNDERSTANDING QUALITATIVERESEARCH•What IS qualitative research?•Famously used by Piaget to design study ofchild developmentRequires small respondent setsEffective market research can be more or lessexpensive than quantitative depending onwhat is neededLook for results, not cost
  7. 7. Natural ImpulsesTapping into the emotions that drive buyer behaviorUNDERSTANDING QUALITATIVE RESEARCHWhy do I need qualitative research?The answers lie in the target markets’ headsYou are NOT the target marketYou need to get into their heads
  8. 8. Natural ImpulsesTapping into the emotions that drive buyer behaviorUNDERSTANDING QUALITATIVE RESEARCHWhat are the various kinds of qualitativeresearch?Focus groups and triads
  9. 9. Natural ImpulsesTapping into the emotions that drive buyer behaviorUNDERSTANDING QUALITATIVE RESEARCHWhat are the various kinds of qualitativeresearch?EthnographicMystery shopping
  10. 10. Natural ImpulsesTapping into the emotions that drive buyer behaviorUNDERSTANDING QUALITATIVE RESEARCHWhat are the various kinds of qualitativeresearch?EvocativeBrain scans
  11. 11. Natural ImpulsesTapping into the emotions that drive buyer behaviorUNDERSTANDING QUALITATIVE RESEARCHWhat are the various kinds of qualitativeresearch?Interviews
  12. 12. Natural ImpulsesTapping into the emotions that drive buyer behaviorWHAT DO I DO WITH QUALITATIVERESEARCH?Use qualitative BEFORE the quantitative research torefine your information, understand emotional ties tospecific product types, branding and future product andservices development
  13. 13. Natural ImpulsesTapping into the emotions that drive buyer behaviorWHERE ARE WE GOING?How do you combine qualitative and quantitativeresearch to get the strongest, most actionableresults from your research?
  14. 14. Natural ImpulsesTapping into the emotions that drive buyer behaviorQUANTITATIVE RESEARCH, BIG DATA ANDANALYTICSQuantitative research will tell you what peopledo. What it won’t tell you is why they do it.
  15. 15. Natural ImpulsesTapping into the emotions that drive buyer behaviorQUANTITATIVE RESEARCH, BIG DATA ANDANALYTICSMany ways to collect quantitative dataCATI (Computer Assisted Telephone Interview)CAPI (Computer Assisted Personal Interview)PAPI (Pencil and Paper Interview)Mail SurveysWeb SurveysBig Data Modeling
  16. 16. Natural ImpulsesTapping into the emotions that drive buyer behavior13%10%GeneralPopulation =26.5%GeneralPopulation =23.3%
  17. 17. Natural ImpulsesTapping into the emotions that drive buyer behaviorTRASHIN, TRASH OUTTITO
  18. 18. Natural ImpulsesTapping into the emotions that drive buyer behaviorAn example of what can happenwhen you don’t ask the rightquestions. Qualitative research canbe your best friend in helping ensurethat you get the information youneed.OOPS!
  19. 19. Tapping into the emotions that drive buyer behaviorDad’sDilemmaWid GetWho wouldbe the bestchoice totake over mycompany?Natural ImpulsesTapping into the emotions that drive buyer behavior
  20. 20. Natural ImpulsesTapping into the emotions that drive buyer behaviorGet’s Quantitative TeamPrice ColorSize
  21. 21. Natural ImpulsesTapping into the emotions that drive buyer behaviorLos AngelesNew YorkTampaWid’s Qualitative Team
  22. 22. Natural ImpulsesTapping into the emotions that drive buyer behaviorSpeedPartnershipAttribute X ColorQualitative Research Results For Widget AttributesAttribute YAttribute Z
  23. 23. Natural ImpulsesTapping into the emotions that drive buyer behaviorQuantitative Research Results For Widget AttributesQuantitative Importance PercentagesPrice 98%Attribute V 34%Attribute W 8%Attribute X 28%Color 12%Company Size 42%Geographic Location 51%Customer Base 39%
  24. 24. Natural ImpulsesTapping into the emotions that drive buyer behaviorComparison of ResultsQualitativeSpeedAttribute XAttribute YAttribute ZBluePartnershipQuantitativePriceAttribute VAttribute XCompany SizeGeographic LocationCustomer Base
  25. 25. Based On Qualitative FindingsAs your partner in the widgetindustry, we know what you want!We have the fastest widget onthe market; it does X, Y, andZ, and comes in a beautiful bluecolor.Attributes:SpeedAttribute XAttribute YAttribute ZColorPartnershipNatural ImpulsesTapping into the emotions that drive buyer behaviorBased on Quantitative FindingsWe have the cheapest widgets inthe industry. They do V and Xand do it really well, so no matterwhat your company size orlocation, buy your widgets fromus!Attributes:Price 98%Attribute V 34%Attribute X 28%Explained Variance =.18For these you know WHY For these you know HOW MANY
  26. 26. Based On Combined FindingsYou would understand that:SpeedIs important because in this particularindustry, speed is linked to higherrevenue which is emotionally linkedto success.Attribute XAttribute YAttribute ZColorIs important because in this particularindustry if no specific color is requiredfor this widget ,it is linked to pride andjob satisfaction.Natural ImpulsesTapping into the emotions that drive buyer behaviorPartnershipIs important because this widget playsan important role in the manufacturingprocess and if it fails the buyer needsto feel that his “partner” will do what isneeded to get their operation back upand running as quickly as possible.The emotional motivator is security.PriceIs seen as important because it islinked, in this instance, to severalemotions such as achievement andsuccess.Attribute V 34%Attribute X 28%
  27. 27. Natural ImpulsesTapping into the emotion that drives buyer behaviorAttributes’ Overall Importance Ratings:Speed 28%Price 38%Attribute V 54%Attribute W 43%Attribute X 22%Attribute Y 5%Attribute Z 8%Partnership 59%Color 18%Company Size 62%Geographic Location 51%Customer Base 40%Quantitative Informed By Qualitative shows:Much moreimportantMuch lessimportantMuch less importantoverall but moreimportant to aspecific segment.
  28. 28. Natural ImpulsesTapping into the emotions that drive buyer behaviorFocus is onattributesV, W, price andpartnership.Attributes Overall Importance Ratings:Speed 28%Price 38%Attribute V 54%Attribute W 43%Attribute X 22%Attribute Y 5%Attribute Z 8%Partnership 59%Color 18%Company Size 62%Geographic Location 51%Customer Base 40%Based on Correctly Implemented Quantitative…
  29. 29. Natural ImpulsesTapping into the emotions that drive buyer behaviorAs your partner in the Widgetindustry, we provide the best possiblepricing for high quality widgets.(Assuming that attributeV is quality.) Our widgets are the fastestavailable today, fully equipped for X andZ, and we are so sure of theirdependability that we offer a lifetimewarranty that is second to none.QualitativeAs your partner in the widget industry, weknow what you want! We have the fastestwidget on the market; it does X, Y, andZ, and comes in a beautiful blue color.QuantitativeWe have the cheapest widgets in theindustry. They do X and V and do itreally well, so do yourself a favor andbuy your widgets from us!The Right Marketing Message
  30. 30. Natural ImpulsesTapping into the emotions that drive buyer behaviorQUALITATIVETELLS YOUWHY, QUANTITATIVE TELLS YOU HOWMANY.
  31. 31. Natural ImpulsesTapping into the emotions that drive buyer behaviorWHY IS IT IMPORTANT TO KNOWBOTH? BECAUSE FOR A PRODUCTTO BE MARKETEDEFFECTIVELY, YOU MUSTUNDERSTAND THE MOTIVATIONTHAT LEADS YOUR MARKET TOUSE IT.
  32. 32. Natural ImpulsesTapping into the emotions that drive buyer behaviorQUESTIONS?
  33. 33. Natural ImpulsesTapping into the emotions that drive buyer behaviorNATURAL IMPULSESMary Samuelson and Joy Ward are the Principals ofNatural Impulses, a research firm devoted to helpingtheir clients reach the deepest understanding of theirmarkets and clients.

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