I feel for Market Research Managers in charge of Brand Awareness trackers. It’s not as easy as it used to be. As the number of means by which brand awareness and familiarity are influenced increases, our ability to measure their impact becomes more difficult. Sure, you can still efficiently measure absolute awareness levels, but how useful is that if you don’t know what is driving them?
The market researcher who clings to conventional surveys and focus groups like a life raft on a turbulent sea is going to drown. Those who judiciously add various social media and ethnographic-based methods along with some of the other fabulous new qualitative research tools out there will be able to navigate through the storm—and best help clients choose the methods (or mix) for their unique needs.
Talking to competitors’ customers is a great form of market research and it is surprisingly feasible in many markets.
Have you found yourself needing to forecast a new product’s adoption potential? Sales volume by region for the next 3 years? How about the potential upside of a new distribution
Do you need a little help identifying places where potential savings may exist in your market research budget? If so, here are some great questions to ask.
The day I beat my data to death: I poked it, pulled it, pummeled it. I sliced, slashed and skewered it. I tore it up into a thousand pieces and glued it back together into a Frankenstein mess. I abandoned it. I restarted from scratch. Seven times. I created 43 new variables, each of them a total waste. It wasn’t analysis any more; it was an act of violence.
