Innovative Online Marketing Research Methods Hermann Apostol, Mandy Fogelman, Andrew Kalman, Michele Neher, and Amy Tiso “Over 80% of market researchers in Europe and North America intend to increase their use of online as a research channel over the next six months.” ~ New Media Age Article Overview  Marketing Research: Online, on tap. Marketing Magazine  ROI Real-Time Promo Magazine  Search for Tomorrow FastCompany Magazine Marketing Research: Online, on tap. Marketing Magazine Online Panels: Pros     Real Time Results Time and Money Savings Convenient for Consumers More Relaxed Environment – Higher Quality – Honest and Reasoned Responses  Access to Target Audiences Unrestricted by Geography Online Panels: Cons      Online Profile vs. General Population Lengthy Questionnaires  Poor Quality Poor Recruitment and Badly Managed Panels  Damaged Data Technical Problems Higher Programming Costs Online Research in Practice ROI Real-Time Promo Magazine Reasons for Marketing Research   Measure Impact of Marketing ROI  More complex due to integration  New methods developed – Digital Promotions Digital Promotions  Research Results Improves ROI 1. 2. 3. 4. Reduces data entry costs Improves data accuracy Saves time Ability to change Data Collection   Ability to Measure Sales & Consumer Behavior Given… – Accurate self-entered data – Ready-for-use databases – Immediacy of real-time results Search for Tomorrow FastCompany Magazine Search for Tomorrow     Goal of Internet Marketing Research Search-Based Ads; Google & Yahoo Identifying Audiences, Web-surfing Habits Effectively Displaying Ads in Relation to User Recap: Popular Trends in Online Marketing Research We Discussed the Use Of:  Online Panels  Online Promotions  Search Engines Others Trends:  Online Surveys w/ Incentives  Monitoring of Web-based forums Key Points  Research is an Essential Part of Marketing.  Don’t Let Yourself or Your Company Fall Behind. Class Discussion  What types of online research have you personally participated in?  Do you believe that some research methods are better done in the traditional fashion? Why or why not?  In class, we talked about the Richness vs. Reach Trade-Off? Which would you prefer?