Month: November 2016

Knowing Your Customers: A Market Research Case Study

 Several organizations I have worked with over the years claim to know their clients inside and out, but is that really the case?

Many of them often tell me they know how their clients perceive them because they explicitly ask for their opinion. However, I would argue that much like we rarely tell the waiter/waitress that we don’t like our meals, our clients are unlikely to tell us the truth unless there is a real issue. However, if third-party sources ask the same question to your clients, your clients are more likely to tell the truth. This fact alone is why unbiased market research is a crucial step in any marketing strategy.

In this blog, I’d like to share with you a case study that perfectly illustrates the importance of market research and how it helped them better define who they are to their customers.

Overview

Our client, a mid-sized educational toy distributor in Toronto, wanted to conduct research to identify their customers, the views they have of their brand, and the values they tie to the brand and its products. Specifically, they wanted to determine if there was a difference in buying behaviours between the company’s two key markets, establish any product leakage, and validate their brand recognition in the marketplace.

 Conducting the Research

Based on the client’s goals for this research project, we determined both qualitative and quantitative research was needed in order to receive the answers we were looking for.

First, we started by conducting preliminary qualitative research. Qualitative Research is the process of talking to someone through open-ended questions about a particular subject to gain insights into their thoughts and opinions. This can be done through a conversation, phone call, or focus group.

To complete this research, we conducted eight discussion guide-driven phone calls with a targeted cross-section of buyers within our client’s target audience.

With the results of the pre-field research, we crafted a highly customized survey that allowed for each audience to only see questions specifically directed at them. We further segmented the questionnaire by programming it based on the role of the individual by type of organization and then by responsibility. This type of research, called Quantitative Research, allows us to track data with closed-ended questions and more numerical information.

Findings

After analyzing the gathered information, we were able to provide our client with an in-depth analysis of their customers. The key findings indicated that their customers with the most purchasing power in their target audience reported the least amount of brand exposure. It also clearly identified that their brand was very well known in one of their key target markets and less known in the other, and lastly, their catalogue is highly utilized and highly regarded. 

Next Steps

Once the deeper analysis was complete and revealed more about their customers’ buying behaviours, preferences for price vs. product quality, and delivery times, our client was able to develop a marketing strategy for 2017 that was truly in line with their customers’ needs and wants.

Market research is a crucial step in your marketing strategy. It provides you with insights you would not be able to get by just asking your customers yourself. Market research helps you get to know your customers better, and what is more valuable than that?

Advertisements

The Social Media Election

If you’re anything like me, you’ve been glued to the American presidential election since it began to heat up earlier this year. This election is different from others for a number of reasons. For the first time ever, a woman is the Democratic nominee for president. Her opponent, the leader of the Republican Party, is loudly entering the political arena for the first time. Whatever the outcome is tonight, the 2016 election will be looked upon as a “social media election”.

In the 2012 American presidential election, Mitt Romney and Barack Obama were the first candidates who really used social media to gauge voter interest in their campaigns. Facebook was a reliable channel for distributing key campaign messages for both parties, and Twitter was just starting to make waves. Obama successfully generated almost 20 million more followers than Romney did on the platform, and secured the presidency in November of that year. Obama’s victory tweet after winning the election became the most retweeted piece of content on the platform up to that point.

While social media had a huge influence on the last election, nothing can top how it’s altered the current presidential race. The two candidates have been using social media for years, thus allowing voters to tap into their past posts. Take this tweet by Donald Trump, for example:

Somehow I can’t see Ronald Reagan saying something like this.

The use of social media allows presidential candidates to give minute-by-minute updates on their campaign and gives voters direct access into their professional and private lives. Donald Trump has been successful in using his Twitter account to influence his voters throughout his presidential campaign. His brash language and brutal honesty has positioned him as a “no-nonsense” candidate. While some voters find this behavior unsettling, he has appealed to the untapped demographic of American voters who want to abolish political correctness.

Hilary Clinton might not be as “honest” as Donald Trump, but she also has an impressive social media presence. Her slogan “#ImWithHer” has been shared millions of times all over social media. Due to her large celebrity fan base, Democratic social media influencers like Katy Perry and Lena Dunham continue to share supportive messages and images.

Trump relies heavily on his Twitter account while Clinton has broadened her social media presence through Snapchat, blogs and apps. While running completely different campaigns, both candidates have secured a huge social media following. Twitter and Facebook accounts are free to use, but don’t let that fool you into thinking social media hasn’t cost each campaign dearly. Donald Trump’s campaign spent $200,000 to purchase the promoted hashtag of the day, allowing it to be seen from every Twitter user in the U.S. through sponsored posts and the trending hashtags sidebar.

What has me so concerned as a marketer is that social media has provided voters with an inside look into the candidates, but it might not be the most reliable way to judge a future president. As we all know, social media is great for storytelling but that doesn’t mean it always reflects reality. One thing I have noticed throughout this entire campaign is that we’ve begun to lose sight of the actual issues at hand. Stories about Donald Trump’s latest misogynistic tweets are as much of a story as the crisis in Aleppo. While social media has played an important role in this election, it’s important to note that it is not the only factor Americans should be looking into when electing their next president.

So where do we go from here? I think it’s safe to say that neither candidate will have their own true voice on social media if they are elected President of The United States.

From a marketing standpoint, both these candidates have utilized social media to their advantage by creating consistent content marketing campaigns to appeal to their voters. However, voters in the United States need to consider that a candidate’s social media personality is likely to change once they have been elected, so they need to be confident in their candidate as a leader, not a tweeter.