The Internet is built for research. Whether it’s a consumer shopping around for prices, a researcher exploring a topic or a fan looking up their favorite band, the Internet makes finding and analyzing information easier than ever before.
That’s because everything people do online leaves a data footprint. Consumers are able to research companies and products easily, gathering information to compare prices and services with a few clicks of the mouse. Consumers are also able to share likes and dislikes easily, whether that information is shared with companies or with friends.
This process can also work in reverse: brands can study who their customers are, what they are interested in, how they feel about the brand, and the best times and places to engage with them. This is what online market research is all about. In this chapter, you will learn:
• Why online market research is crucial to any marketing endeavor
• The most important concepts you need to know in order to start conducting research
• Several methods for conducting online research, including surveys, online focus groups and online monitoring
• What problems and pitfalls to avoid when researching online 3.2 Key terms and concepts Term Definition Bounce rate The number of people who view one page and then leave a website without viewing any other pages.
Data Statistics and facts collected for analysis. Focus group A form of qualitative research where people are asked questions in an interactive group setting. From a marketing perspective, it is an important tool for acquiring feedback regarding new products and various topics. Hypothesis A supposition that is tested in relation to known facts; a proposition based on reason but not necessarily assumed to be true. Listening lab A testing environment where the researcher observes how a customer uses a website or product.