Market research is an essential part of any organization’s marketing strategy. Market research helps you to understand what people are thinking and feeling about your product or service, and can help guide future developments.
In this post we will look at some of the methods that market researchers use when conducting digital market research
What is Digital Market Research?
Digital market research is a form of qualitative and quantitative research that uses online data to gain insights into consumer behaviour. It uses online platforms, such as websites or mobile applications, to collect information about consumers’ preferences and behaviours.
Digital marketing allows you to:
- Get the right message out in front of your audience at the right time
- Build relationships with your customers so they’ll buy from you again later on down the line
Advantages of Digital Market Research
- Cost-effective :
It is more cost-effective than traditional methods, because it uses fewer resources and less time to obtain the same information. This makes lean market research a good option if you’re looking to save money on your digital marketing budget while still getting results that will help grow your business.
- Time-efficient :
Because it requires less effort on behalf of your team, they can be able to focus on other aspects of their job more easily when conducting this kind of project as opposed to traditional methods such as email surveys or phone calls with customers (which often require significant amounts of time).
Different Types of Digital Market Research Methods
In the digital age, market research methods are not limited to traditional telephone surveys or focus groups. Digital market research tools can be used in conjunction with traditional methods to gather more information and in different ways than ever before.
Here are some of the most common methods of digital market research:
1. Create a survey
- A survey can be created and delivered to your audience through a variety of channels, including email, social media, or mobile app. On the other hand, if you’re looking for more control over how your research is conducted and presented, consider opting for an in-person interview instead.
- In either case—survey creation or in-person interviews—you’ll need to think ahead about what questions will be asked so that they’re both relevant and insightful.
- How often do people use this product/service?
- What kind of user experience do they have with this product/service?
- What do they like best about using it (and why)?
2. Conduct focus groups.
Focus groups are a way to gather data from a group of people. A focus group is an opportunity for you to talk face-to-face with your customers, who will be able to provide valuable feedback on how they use your product or service and what they think about it.
You can also use focus groups as a way to get feedback from people who do not know each other—a good strategy if you don’t have time or money for several surveys (or if there isn’t enough diversity in terms of age, gender and ethnicity).
3. Online video interviews
Video interviews are a great way to get information from people who don’t want to be interviewed in person. They’re also an efficient way of finding out what people think about your brand, product, or service.
If you’ve got an online video platform that can host your videos (like YouTube), then this is the perfect method for conducting digital market research!
Observing people as they go about their daily lives is a great way to get an understanding of how people use social media and other digital platforms. You can observe people in their natural environment, such as at home or work, or you can observe them in a controlled environment, such as a lab setting.
5. Experiences and Recommendations
Ask questions. The first step in conducting digital market research is to ask people questions. You can do this by using a survey, or simply by talking with them one-on-one.
Listen carefully and respond appropriately. Once you’ve asked your question(s), listen carefully and respond appropriately, based on whatever they say back to you (or don’t say). This may seem obvious but it’s easy for us humans to forget that other people are just like us they want answers too!
6. Customer Feedback Tools
Customer feedback tools allow you to gather customer feedback. This can be used in a variety of ways, such as:
- Understanding customer needs and wants
- Understanding customer behaviour
- Defining the preferences of your target audience
Digital market research is a great way for brands and agencies to learn about your customers’ needs. It can be used in traditional ways, such as surveys, but it also has its own unique characteristics that make it stand out from other methods of market research.
We hope this article has given you how digital market research insights works and how you can use it for your brand or business!