Tuesday, May 1, 2012

Market Data Studies: Not a Problem Any More.

Obtain Cheaper and Faster Results.

Google has revolutionized us again? Traditional market research is an expensive and long process. We know that many of our interviewees don’t want to answer long surveys and/or answer in an inappropriate way. Google has made an important change in how data is been collected. With Google’s new tool, you can create online surveys and have answers in a very fast and easy way about your clients. With Google’s tool business decisions are made faster and with the same accuracy as with old methods.


Market research is now easier; you don’t need to hire a lot of people for the research since Google provides you with the templates, finds your interviewees, and aggregates the data. With Google Consumer Surveys you will be able to produce timely and cost-effective results while still maintaining much of the accuracy of pre-existing surveying techniques. This new method will help you to gain insights about your customers, save time, and take more efficient and effective business decisions by analyzing aggregate data.
This tool provides both a new way to perform Internet surveys and a new method for publishers to monetize their content. Therefore, this new tool involves three different groups of users: researchers, publishers, and consumers. According to Google, “Consumer Surveys provides a new way for researchers to perform Internet surveys, for publishers to monetize their content and for consumers to support publishers.”

How it Works?

According to Google, companies create an online survey with existing templates. Then, customers complete questions to access premium content. Google Consumer Surveys runs multi-question surveys by asking people one question at a time. This results in higher response rates (15-20% compared with an industry standard of 0.1 - 2%), more accurate answers, and respondents may be more representative due, to the short survey length. Consumer Surveys infers approximate demographic and location information using the respondent’s IP address and DoubleClick cookie. Then, publishers get paid as their visitors answer. And finally, companies get aggregated and analyzed data.

Stop losing you time and money, and talk with your market research team. As soon as this new tool is incorporated to your market research, you will start receiving the benefits. I encourage you to visit http://bit.ly/I2v8Tt and http://bit.ly/J5ccZJ to learn how to use this new tool. Remember, it will help you to know more about your customers, reduce your costs, and increase business decisions’ accuracy, regardless of the size of your company. So, what are you waiting for? 

Paula Fuentealba is a graduate student in the Northwestern Medill IMC program and is specializing in digital marketing and e-commerce.  Paula will be graduating in December 2012.  Paula can be reached on twitter using the handle @PaulaIMC.

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