Skip to main content

Posts

Showing posts with the label business market research

Quantitative Research vs Qualitative Research- What your approach

The process of conducting primary market research and collecting market research data and information can be broken down into two methods; quantitative and qualitative research. Each method involves a different process, and reveals different information. However, it has been noted by business professionals and academic experts that in order to gain a full understanding of a business environment, the market place and the consumers within it, it is wise to conduct both quantitative and qualitative market research . Quantitative Market Research Quantitative market research is the collection of numerical data often resulting in statistical analysis to understand trends in the data. The main characteristic of quantitative market research is that it allows for comparisons and trends in the data to be easily found and understood. It should also be noted that as a result of the standardised questions, quantitative market research is a more structured market research proces

Boost your business performances by testing ads effectiveness

For advertisers, the changing media landscape means there are more ways to reach customers with effective advertising than ever before, with a steady shift to online formatting. At the same time, as per the market competition ad budgets are hardly grown but development timelines have been reduced. In this demanding new environment, advertisers and agencies need fresh approaches to testing ads effectiveness: Boost efficiency (cost and time) Leverage learnings across media Mine insights across and within ad campaigns Accommodate new and emerging ad formats Focus on what makes you different Design visually creative ad designs Your message should be clear Understand International nuances Use the wisdom of crowd before launch Targeting options available to you. Run of Network Options Relevance of Network Niche Publishers Device options as per your customers likely to use as per your product and service. Know your audience Advertisers now need earlier-stage,

Enhance your business with customers behavior data

Today business using big data & machine learning to learn about customers behavior. With customer behavior analytics, business is able to make data-driven decisions because they have an individual-level view of their customers. When business know exactly what customers want, what they do and look for, and how they may act in the future, they are in a better position to create personalized customer experiences and increase customer loyalty. McKinsey  found  that 50% of companies making use of customer behavior analytics are likely to have sales significantly above their competitors, 6.5 times more likely to retain customers, and 7.4 times more likely to outperform competitors in making sales to existing customers. Overall, organizations that correctly utilize customer behavior analytics are 19 times more likely to achieve above average profitability. If you want to enhance your business performance and make improvements in your marketing campaigns, then, here are some pra

In the age of assistance, delivering growth starts with predicting future by beholding data

As a marketer, chances are you’ve used consumer insights to understand what your customers want and then delivered relevant experiences to them. But have you ever used intent signals to predict what your customers want? Today, marketing technology allows you to do just that. The reality is the customer journey is nothing short of dynamic. As the journey continues to shift and change shape, it’s becoming harder for marketers to make sense of all the consumer intent signals people leave behind. Because as people look for what they need, they switch between channels and devices. They may conduct a research and saw the journey of the customer from start to end. Marketers have had to navigate these twists and turns by juggling first- and third-party data, probabilistic modeling, or remarketing. But all of that manual juggling simply won’t cut it. Today’s consumers expect more. They want assistance at every step. Therefore, as marketers, we need to be one step ahead of our customers —

Achieve the goal with automated marketing

As a business, you know how hard it is to keep up with customers today. People have become research obsessed for most purchases and expect brands to assist them in a personally relevant way at every stage of their purchase journey.   Machine learning is one automation tool that can boost your efforts to meet people’s high expectations. Machine learning can help to create automated marketing campaigns, at scale, that place the right message in front of the right customer at the right time at the right price, delighting people and delivering the business results marketers want. We talked  with top brands decision makers who have adopted machine learning to improve their marketing, we’ve found that the top-performing brands are applying these below rules and asking themselves these questions to achieve goal with automated marketing: Optimize your campaigns for growth : Machine learning is only as good as what you ask it to optimize. Top performers optimize the c

Can you achieve the business outcomes without the right measurement?

You can’t achieve the business outcomes without the right measurement. Today market is number  market. If you can’t measure it, you can’t do it. So, some years back, when people started talking about organizing their brand around the customer, I thought, “Yeah, but what does that  actually look like?” Fast forward to today: We’ve turned that jargon into a reality. Below are the questions put on the path to better measurement: A Better Strategy for Measurement Is your company set up to give you an aggregate view of the customer journey ? If your answer is the latter, I can guarantee you’re getting a ripped understanding of your customer, and you’re not set up to measure for growth. At the top level of your company, your business goals are to attract new customers _ engage them for long term relationships and delighting strategies ensure customers are happy, satisfied, and supported long after they make a purchase . Rather than individual channel teams, now you have two

Top Marketers use Machine Learning & Artificial Intelligence to drive growth

Automation and machine learning technologies are changing the way marketers drive results for their customers and brands. But there’s still a significant gap between those who are just talking about machine learning and those who are taking action. For marketers looking to become leaders in their field, this is an exciting time. It’s a chance to make your mark, get ahead of competitors, and drive real results. To explore this shifting landscape, we partnered with the Massachusetts Institute of Technology Sloan Management Review (MIT SMR) to conduct a global survey and interview over a dozen executives and academics about their use of automation and machine learning technology and the results they’re seeing. Do more with your data Companies with appreciations to use machine learning have more ability to drill-down and see their KPI data in greater detail. This can lead to increased knowledge sharing and transparency, and help teams work together to make smarter , data-dr

Chatbot’s: Future of market research

Business Insider  experts predict that by 2020, 80% of enterprises will use chatbots. According to  Lauren Foye , by 2022, banks can automate up to 90% of their customer interaction using chatbots. A survey conducted by  Spiceworks  showed that 40% of large companies employing more than 500 people plan to implement one or more intelligent assistant or AI-based chat robot over corporate mobile devices in 2019. According to Relay, 65.1% of companies using chatbot technology are engaged in web software, and 58% of companies using chatbots technology are focused on B2B. According to  Drift , 27% of adult clients in the United States are ready to purchase basic goods through a chatbot, 13% of adults in the US have at least once bought expensive items using chatbots. According to  Adobe , 28% of leading companies use AI for marketing, while 31% plan to use AI in the next 12 months. According to  Opus Research , by 2021, 4.5 billion dollars will be invested in chatbots. Customers boldl