Innovative Online Marketing Research Methods Hermann Apostol, Mandy Fogelman, Andrew Kalman, Michele Neher, and Amy Tiso вЂњOver 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.вЂќ ~ New Media Age Article Overview пЃ® Marketing Research: Online, on tap. Marketing Magazine пЃ® ROI Real-Time Promo Magazine пЃ® Search for Tomorrow FastCompany Magazine Marketing Research: Online, on tap. Marketing Magazine Online Panels: Pros пЃ® пЃ® пЃ® пЃ® Real Time Results Time and Money Savings Convenient for Consumers More Relaxed Environment вЂ“ Higher Quality вЂ“ Honest and Reasoned Responses пЃ® Access to Target Audiences Unrestricted by Geography Online Panels: Cons пЃ® пЃ® пЃ® пЃ® пЃ® Online Profile vs. General Population Lengthy Questionnaires пѓ Poor Quality Poor Recruitment and Badly Managed Panels пѓ Damaged Data Technical Problems Higher Programming Costs Online Research in Practice ROI Real-Time Promo Magazine Reasons for Marketing Research пЃ® пЃ® Measure Impact of Marketing ROI пЃ® More complex due to integration пЃ® New methods developed вЂ“ Digital Promotions Digital Promotions пЃ® Research Results Improves ROI 1. 2. 3. 4. Reduces data entry costs Improves data accuracy Saves time Ability to change Data Collection пЃ® пЃ® Ability to Measure Sales & Consumer Behavior GivenвЂ¦ вЂ“ Accurate self-entered data вЂ“ Ready-for-use databases вЂ“ Immediacy of real-time results Search for Tomorrow FastCompany Magazine Search for Tomorrow пЃ® пЃ® пЃ® пЃ® 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: п‚§ Online Panels п‚§ Online Promotions п‚§ Search Engines Others Trends: п‚§ Online Surveys w/ Incentives п‚§ Monitoring of Web-based forums Key Points пѓ� Research is an Essential Part of Marketing. пѓ� DonвЂ™t Let Yourself or Your Company Fall Behind. Class Discussion пЃ® What types of online research have you personally participated in? пЃ® Do you believe that some research methods are better done in the traditional fashion? Why or why not? пЃ® In class, we talked about the Richness vs. Reach Trade-Off? Which would you prefer?