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Hotel & Resort Brands Partner Area Updates Resources

How People Book Hotels in 2022? What Gets Attention and Which Channels People Prefer?

In collaboration with hospitality consulting team Daniel Diosi & Partners, we recently completed an analysis to gain deeper understanding of how people book hotels in 2022.

The 2,017 response survey was targeted to people in he United States between 18 and 65 years of age, who recently returned from a trip.

The research results can be viewed here:

https://datastudio.google.com/reporting/14760ebe-069b-42c0-b696-a65c32e9b643

What did this research cover?

The survey had two main focuses. First is to analyze what attributes and factors make people like and book a hotel. The second part of the research was about organizing data to understand preferred booking channels of people at different age and by travel frequency.

The survey asked the following questions from the respondents:

  • What makes a good first impression in case of a hotel?
  • What influences you most to consider booking a hotel?
  • What influences you the most to decide booking a hotel?
  • What factors are most common dealbreakers in case of a hotel?

Furthermore the survey also asked about their preferred booking method, frequency of travel.

Research results

We encourage you to see the results and make your own conclusions after going through the data in the interactive dashboard. The key findings of the research are below.

First impression and booking decision

The over 2,000 respondents made it clear that photos and videos are extremely important during the first impression and consideration stages. Interesting to note that with 23%, the hotel name plays a key factor in making a good first impression on potential guests.

During the consideration stage, videos, product presentations and photos, including food photos make are the most important, followed by the hotel’s ability to demonstrate the experience. Attributes like location, style and uniqueness are less important decision factors.

In the booking stage, pricing clarity, price value and discounting are the key factors that drive decisions.

Common dealbreakers that make travelers dislike a hotel are boring rooms, unappealing food photos, pretentiously content and boring product presentations.

Interesting that reviews did not show as a very important factor.

Preferred booking channels by age and travel frequency

Among the 2,017 respondents, 41% prefers OTAs, 29% books direct and another 29% likes to book trips with travel agents or tour operators. Let’s dive deeper in the data to understand who books how.

Nearly half of self-proclaimed regular travelers book on OTAs. This makes sense as OTAs offer a very easy way to book, and reward travelers with discounts and special deals. This is followed by direct, leaving roughly 20% for travel agents.

Nearly half of respondents who hardly ever travel use travel agents or tour operators. The rest is split between OTA (around 30%), and a slightly smaller segment of direct bookers.

Most frequent travelers book OTAs and direct, leaving once again around 21% for tour operators.

Observing the response data by age, it shows that people below 35 predominantly use OTAs as their preferred hotel booking tool.

People who prefer direct bookings are in their 30s and 40s, while most tour operator and travel agent customers are 45+.

Please note that these statistics are only indicative. The 2,017 responses broken down to age groups year by year between 18 and 65 equal to an average of 43 responses collected for each age group.

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Market & Economy News Resources

A Brief Overview of Market Research Fraud

With the rise of cloud technology and connectivity through APIs, the market research industry became democratized. Before the technology-induced changes, only a few market companies giants ruled the market.

That time has ended in the early 2010s.

It has never been easier to collect responses from people happy to fill out surveys for a few cents and sell those responses to so-called research companies who will eventually resell that data to end customers as market research.

Response fraud is a form of cybercrime and a constant nuisance for the steadily growing online portion of market research. Fraudsters participate in online surveys to get the monetary incentive offered for their time without providing genuine answers.

How big is the problem?

In 2015, the ratio of fraudulent data has been estimated between 5% to 10%. In 2021, it reached 35 to 65%.

When doing market research with an online survey solution like Google Surveys, SurveySparrow, or SurveyMonkey Audience, the source of your responses is questionable at best. Despite their best efforts to maintain data quality, these companies have little to no control over what kind of people or bots fill out their surveys.

Market research is a big business with a well-built ecosystem. Students and jobless people from villages in developing countries, scammers, and even bot programmers make a living out of filling out surveys, with absolutely no concern if their answer is relevant for the research.

Online sample providers are fighting these fraudsters with sophisticated security tools and spend significant effort on identifying and filtering sham respondents. The fraudsters in turn undermine providers’ filters with some simple tricks, helped by lots of websites with tips on how to “make easy money” with surveys.

Common market research frauds

They create multiple fake profiles bypassing verification with IDs printed on paper – then use autofill apps and survey click bots to speed up their productivity for maximum payouts.

Companies like SurveyYeah, SurveyJunkie, Google Opinion Rewards, and similar respondent networks not only generate responses for their survey clients. They also produce responses to be sold on various data exchange marketplaces.

Market research companies who deal directly with clients often use such vendors to source response data, with minimal quality control. Depending on the industry, 35% to 65% of market research respondents are either unqualified or fraudulent.

If this is not shocking enough, some data vendors add random data to their responses. They do it by performing basic statistical calculations on a small but genuine data set, then generate large quantities of random data with similar regression and statistical attributes.

These are just some facts from the world of online market research and response data exchange businesses. Companies that do market research need to be extremely careful where they get their responses from. In many cases, the distribution chain is so complex that not even the market research company can track the original source of responses.

How much does market research fraud cost for companies?

It is difficult to estimate the direct and indirect damage caused by response fraud. Direct damage is the cash cost of fake respondents and all research projects with invalid results. Indirect damages arise when research clients are misguided in their business decisions through bogus results and insights. It is easy to see that the resulting dollar number is enormous.

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Brand Management Marketing Communications Partner Area Updates Resources

How to Do a Competitor Analysis With Competitor Analyzer?

As the name suggests, Competitor Analyzer is a competitor analysis tool that lets you reveal brand-related information about competitors, similar companies, or practically any organization.

The solution builds on the popular Brand Auditor system, with additional features streamlined for competitor analysis. Similar to all others tools by Market Sampler, Competitor Analyzer uses micro-surveys to collect feedback from targeted people.

In this post, we will show you step by step how to do a competitor analysis with Competitor Analyzer.

Step 1: specify your competitors or any companies you want to research about

The self-service research configurator tool will ask you about the types of organizations you would like to research. Choose what describes your target companies best.

The next step is to select how many competitors you would like to analyze. You start researching about up to 3 companies at one time. Simply enter the number of companies you want to research, followed by inputting the company names and their websites. That’s it.

Optionally, you can include your company in the analysis company for comparison purposes. The config form offers this option after specifying the other companies for your research.

Step 2: Select your audit scopes 

The competitor research tool will offer the following audit scopes:

  • Brand awareness
  • Brand acceptance
  • Brand perceptions
  • Brand and product presentation
  • Perceptual mapping
  • Marketing communications

Let’s see what insights these will get you:

Brand awareness

Based on the survey responses, the system will calculate the % of respondents who were aware of each brand you specified. Brand awareness is measured separately for each company. The interactive reporting dashboard will enable further in-depth analysis of this.

Brand acceptance

Similar to brand awareness, the system will calculate the % of respondents who like your specified companies. Brand acceptance is measured separately for each company.

Brand perceptions

This feature enables you to understand what target respondents think about the selected companies. You will need to enter a few characteristics that the survey will offer as response options. The best is to add between 10-15 response options, both negative and positive. Respondents will choose what comes into their mind when thinking about the specified companies, and results will be displayed on a tree-map chart.

Brand and product presentation

Selecting the brand and product presentation option will add a score rating chart to the competitor analysis survey. Target respondents will be able to rate the product presentation of each company on a 1 to 5 scale. Results will be displayed on the report. 

Perceptual mapping

A brand perceptual map is a chart specialized to visualize how your brand is perceived by target customers, and how it compares to similar companies.

You can choose two values as analysis dimensions. The most common perceptual analysis values are price/value and price/quality. Competitor Analyzer offers a lot more options.

Marketing communications

Selecting the marketing analysis option will add a score rating chart to the competitor analysis survey. Target respondents will be able to rate the marketing communication engagingness of each company on a 1 to 5 scale. Results will be displayed on the report.

Step 3: define the target respondents for your competitor analysis

To get the most relevant information, you want to make sure that you target the research to people who matter for your business.

Competitor Analyzer makes it easy by offering a wide range of respondent targeting options. You can define your target audiences by age, gender, location, highest education, interests, occupation and combine any of these for super-specific targeting.

Step 4: input your research budget

The last step before launching your competitor analysis is entering how much you will spend on the research. Simply enter your research budget it USD, and the system will calculate how many responses you will get. 

The response count and report delivery time are calculated in real-time, based on your budget and targeting criteria. The minimum research budget is $50 (USD)

That’s it! This is how you set up a competitor analysis research.

Using Competitor Analyzer and any other research tools by Market Sampler is transparent and straightforward.

Try it yourself:

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Partner Area Updates Resources

How to Measure Market Research ROI? Is Market Research a Good Investment?

The reason startups and small businesses do not invest in market research are their inabilities to calculate ROI. They think it’s expensive, and using the same resources for marketing or advertising will generate a measurable return on investment.

The above is a typical approach among family businesses and short-sighted small businesses. Somewhat similar to not visiting the doctor before health issues would arise.

Why invest in market research? Is research a good investment?

Investing in market research is not an obvious business function like investing in marketing or IT services. Market research is not a solution for immediate business needs but a strategic investment in information and business intelligence. 

There is a reason large corporations spend between 15%-25% of their marketing budget on research only. This reason is understanding markets and customers. To acquire sufficient information to make educated business decisions to develop better services, better marketing, and a better business overall. Market research ROI is measured based on the overall business improvements resulting from targeted actions on market research results. 

Now let’s dive a bit deeper.

What problem do you want to solve with the market research insights?

Most companies do market research to solve or business challenges or prevent future issues. To make a market research campaign effective, one needs to have a specific scope or a specific set of questions. Below are a few examples:

  • Why is the company not growing with the market?
  • How can competitors charge more or sell more?
  • What needs and expectations do customers have that we don’t satisfy?
  • In what areas do our competitors deliver more value or better experience?
  • What products or services can we develop to gain a competitive advantage?

How much does the problem cost today, or how much will it cost in the future?

Shortcomings in business intelligence might not generate direct costs but opportunity costs and indirect costs. Let’s see a few examples. 

  • Suboptimal products and services require more advertising and marketing investments to sell
  • Unsatisfied customers will choose competitors
  • Uncool companies need to spend significantly more on customer retention
  • Missing out on market opportunities accounts for opportunity costs

It is easy to see how businesses that seemingly do well can accumulate various costs because of not having adequate business intelligence, or not taking appropriate action on the available market research data.

Even for small to medium businesses, these hidden costs can add up to the range of tens of thousands of dollars monthly. In the case of startups and new companies, these mistakes might sabotage the future of the business.

How much additional revenue do you expect to generate by solving the problem?

On a positive note, let’s see how successful companies routinely use market research. 

  • To improve existing products and services, boost conversion rates and reduce customer acquisition costs and reduce cost per conversion
  • To identify customer dissatisfaction factors of competitors and attract customers by offering something better
  • Develop their positioning and customer experience so existing customers will stick with them longer
  • Tapping into unidentified market opportunities to win competitive advantage

The additional revenue, better utilization of marketing resources, and the competitive advantage a company can achieve are invaluable. Each business needs to quantify these on a case-to-case basis.

How much do you spend on research?

Compared to the commercial and financial benefits of successful business development activities, market research costs are insignificant. 

The typical annual market research investment for small to medium businesses is between $10,000 and $15,000. This investment is usually split into multiple research campaigns, roughly $2,000 and $4,000 each. Research spending varies by sector, company type, and company size. Consumer electronics sellers and dropshipping businesses are among the biggest spenders. 

How good your research data and information are?

A significant factor of successful market research is data quality. Prioritizing data quality over quantity or cost is self-explanatory. Among market research insiders, we differentiate data and information. What is the difference, and why does it matter? Let’s take a look.

Good quality data means:

  • Data is well-organized
  • Data is quantifiable 
  • Data is suitable for statistical analysis

Good quality information means:

  • Data reflect relevant information
  • Data was recorded according to market research objectives
  • Data is segmentable by characteristics that matter for your research

Let’s see an example. Imagine the situation where you order a market research with the objective to measure brand awareness and brand perceptions among 21-26-year-old American women for a clothing company.

The market research company delivers excellent quality, well-organized data. That is data quality. Then you figure out that 90% of respondents were 25-26 years old, covering only 20%-25% of your target segment. That is poor information quality.

What insights and action plans do you make from your data?

Let’s assume that your market research company returned good quality data and relevant information for your research requirements. Now it is your time to read out insights and convert those into action items.

From this point onward, the ROI of market research depends on your ability to find solutions based on the insights of the research deliverables. 

Most market research companies will be happy to provide assistance, but taking action in any form will be your responsibility.

How well did you implement the insights?

The return of investment from your market research project will materialize once actions have been taken. Assuming that you researched the right problems, interpreted the insights right, and took appropriate business decisions, results should follow shortly.

Conclusion

As described in the previous sections, measuring market research ROI is not as straightforward as measuring marketing spend, or return on digital ad spend (ROAS).

The research will yield the best results if you seek answers for important questions, ensure high relevancy and data quality, and manage to take appropriate action on the insights.

Investing in various forms of research can be a game-changer for new businesses and SMB-s, and thankfully more and more entrepreneurs realize it. Market Sampler is for these entrepreneurs.

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Market & Economy News Marketing Communications Partner Area Updates Resources

How Do Asian Companies Use Market Sampler to Research Business Opportunities in Europe and North America?

The United States, Canada, and Europe are important markets for Asian countries, but the cultural and linguistic differences make it difficult for them to understand which products would sell best in the Western part of the world. Market Sampler can collect response data globally and is relatively inexpensive to use, which makes it a perfect market research tool for Asian businesses.

Since the launch of Market Sampler, we have seen significant demand from Chinese, Japanese, and South Korean companies for market research in Europe and the Americas. This article will give a brief overview of how these Asian companies use Market Sampler to do their research.

What kind of Asian companies use Market Sampler for market research?

We have received orders from a variety of industries, but most clients are from the following sectors:

  • E-commerce and online wholesale companies
  • Mobile phone sellers
  • Mobile phone accessories
  • Laptop, computer accessories, and peripherals
  • Fashion, clothing, and apparel companies
  • Clothing accessories
  • Smart device manufacturers
  • Smart device resellers
  • Smart TVs, and other display manufacturing companies
  • Dropshippers

Why do these companies need market research? 

They want to assess which product lines will be successful in different countries. They need to know what product names would be the best for each country. They want to understand what product differentiation is required to generate demand. They want to check which product photos will get the most product views on e-commerce platforms. They A-B test product descriptions and check price perceptions for products that can price differently in some countries.

The innovative ways Asian companies use Market Sampler is amazing.

How do Chinese, Japanese, and South Korean companies use Market Sampler?

Most Japanese companies use Market Sampler to test product names and product photos, especially in the consumer electronics industry.

The Instant Research feature of Market Sampler lets anyone ask a simple question and provide free-from answers. For this purpose, they create a survey like:

“Which product name is the best for this product?”

They upload a photo and provide three possible answers. Respondents can select one.

Chinese companies use Market Sampler to test market demand before developing smart electronic products and mobile phone accessories. Typically they use the Custom Research solution that includes support setting up more complex research projects. 

Korean companies use Market Sampler to monitor consumer interest for certain products, product features, and product concepts. Our few clients from South Korea run Continuous Research campaigns to see how sought-after certain product features are during an extended time. Continuous Research is a type of market research where a certain number of responses are collected and analyzed daily, instead of getting a snapshot report like with traditional market research solutions.

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Brand Management Marketing Communications Partner Area Updates Resources

How to Validate a Business Idea Based on Target Customer Feedback? This Market Research Tool Will Do the Job.

How to validate a business idea based on target customer feedback? This market research tool will do the job.

If you read this article, then it means that you are among the 20% of potentially successful entrepreneurs who want to test their business ideas. 

Did you know?

  • Over 80% of business ideas never get tested?
  • Nearly 90% of untested business ideas fail within a year.
  • Around 60% of validated business concepts become successful for at least five years.

You probably know the classic business fail stats. 6.5 million companies launch every year. Startup failure rates continue to hover around 90%. This ratio shows fundamental shortcomings in how most new entrepreneurs approach their ventures. At the same time, these statistics confirm that business idea validation is a critical part of a business creation strategy.

How to validate a business idea?

If you have previously read other articles about business idea valuation, you will know that most writers talk about either internal or external techniques. External validation techniques are the ones to consider. Internal validation in an actual testing concept does not make sense unless you build the business to sell for yourself.

You need to test your business concept in a real-world environment as much as possible. There are various levels to this.

Large corporations like Coca-Cola, Mercedes or retail brands like Marks & Spencer have been investing in market research since their humble beginnings, which remained a key factor in their continuous growth. Most large corporations allocate millions of dollars in continuous market research and feedback analysis in each region they are active in.

For new businesses, the first step is comprehensive market research to understand customer pain points and untapped demands. Once the initial business concepts are ready, the concept testing process can start.

How do companies test business concepts?

Back in the early 2000s, online and e-commerce business ideas often got tested by launching sales campaigns for nonexistent concept products. This was done by simulating a website with product concepts only, without actual products. The best-performing products made it into production, while other ideas got scrapped. Customers got refunded in most cases.

In the late 2010s, online market research became available and affordable for small businesses, which enabled lots of then-startups and now-successful companies to navigate successful market entries and continuous growth since then. 

Today, the standard business validation tool is market research. Most investors require verified market research or concept test results from startups who apply for funding. Market Sampler’s Brand Auditor is a trusted business concept verification provider.

Business concept validation is all about collecting feedback data from target customers, and turning that data into information that either proves or disproves the analyzed business concept.

What is the best business validation method?

There are various methods to acquire consumer insights, but the most common is survey research. To conduct survey research with representative information value, you need to keep the following in mind:

Determine the required number of responses. A statistically significant sample size needs to have an approximate 95% confidence level, which is calculated based on the population or target market in the case of business research.

Define your target audience for your survey research, and do not settle with respondents that do not match your criteria. Market Sampler lets you target respondents by age, gender, interests, occupation, industry, education, career level, and a lot more. 

Get non-incentivized responses. Most survey platforms utilize paid survey networks that offer a small incentive for anyone who answers their survey. This business practice is fundamentally wrong, as incentivized survey networks attract fraudsters and people who attempt to abuse the network with answer-bots or deceive the system by creating fake profiles.

Market Sampler gets non-incentivized responses from completely public survey distribution that attracts respondents genuinely interested in giving feedback.

How much does business validation cost? Is it worth investing in business validation?

Opinions vary but remember the business failure statistics. Doing a business validation will not make a flawed idea successful, but it will save significant time, effort, and sunk costs by highlighting the likelihood of failure.

The good news is that business validation is an inexpensive process. Acquiring survey data to check your business concept will not require more than a few hundred dollars at most. 

Most entrepreneurs who use Market Sampler or Brand Auditor to validate a business idea invest between $100-$200 to acquire 150-350 responses from their target market. In most cases, this already gives a clear indication of whether a business idea will work or not.

What assets do you need to test a business idea with Market Sampler?

Your potential customers will need something to look at to provide feedback. Most of our clients already have a website or a landing page that describes the business idea clearly. 

If your company does not have a website yet, or you don’t even plan to have a website, then the following options are possible:

  • Upload a presentation
  • Upload a video
  • Link a video
  • Link a social media page

Conclusion

Practically this is all you need to know about business idea validation and business concept testing. To recap, you need to be able to demonstrate your concept and get a few hundred genuine survey respondents to provide feedback about it. 

Market Sampler offers all the tools needed to conduct a proper business idea valuation. Should you have any questions, or in case you are planning to do an analysis for your business, please do not hesitate to contact us.

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Market & Economy News Partner Area Updates Resources

Is Market Research a Good Business? How to Earn Money by Offering Market Research Services?

Long story short, market research is a great business to consider either as a stand-alone or as an additional service. It is a superb addition to the existing service range of marketing agencies, consultants, and anyone who is working in some areas of marketing.

There are several reasons why most service providers do not specialize in market research. Some of these offer excellent market entry opportunities for professionals who already work in marketing. Let’s break it down.

Why do most marketing professionals avoid entering the market research business?

First of all, to be able to handle market research projects, one needs to be familiar with market research methodologies. It’s important to understand market research industry-related statistical calculations.

Like any business, a market research business needs to invest in getting clients. It requires resources to manage sales, marketing, advertising, and other lead-generation activities. Most market researchers are statisticians and data scientists. They are not very good at marketing. The massive paid ad competition among survey companies does not help either.

Business executives tend to be suspicious about most market research services. Doing a few minutes of online research will bring up demoralizing stories about survey completion fraud, poor data quality, and other despicable practices that are very common on research panels and paid survey networks. 

Why is market research a good opportunity for marketing agencies and digital marketing service providers? 

Simply put, because the two areas are overlapping. Companies want business intelligence and evidence-based decisions before committing to marketing investment. If they don’t get insights from their current digital marketing partner, they will get it somewhere else.

Let’s see some facts.

The global revenue of the market research industry exceeded 96.8 billion U.S. dollars in 2019, growing more than twofold since 2008. In 2018, North America generated the largest share of market research revenue, representing 54 percent of the total, followed by Europe with 26 percent. 

In comparison, the global digital marketing spend was 491 billion U.S dollars. Market research spend is about 20% of online ad spend. 

Do your clients pay you 20% of their marketing spend for market research?

Over 90% of small and medium-sized companies engage in market research annually or more frequently. Over 60% of medium-sized companies do market research quarterly, and nearly 20% of them manage multiple market research campaigns simultaneously.

The annual research spend of US-based micro and small businesses is between $1,000 and $5,000 per annum, while medium-sized companies budget over $15,000 on research annually.

The annual research budget increases steeply with company sizes and varies significantly by industry. Family-run local businesses tend to spend less on research, while mid-size companies with multiple shareholders and a corporate-like management structure spend between $25,000 to $40,000 on research per annum.

We are talking about businesses like local restaurant chains, small hotel groups, e-commerce companies, construction businesses, online businesses, tech startups with below 50 employees.

Further good news for marketing agencies and freelance marketing service providers is that over 80% of small and medium-sized companies rely on an external professional or agency for market research.

This means that those few marketing agencies and consultants who offer market research make pretty good money!

What profit margins are we looking at in the marketing research industry? How much money can you make from market research?

In most cases, you can aim for a profit margin between 60-80%

Depending on the client’s requirements, a market research project is a set of services bundled together. Companies need market research data to prepare business and marketing decisions. Depending on the nature of business, the most frequent requirements are:

  • Quantitative survey data collection for concept testing
  • Qualitative focus-group interviews
  • Competitor analysis
  • Brand audits

When a company pays for market research, they pay for an end-to-end solution that covers:

  • Project planning
  • Data acquisition
  • Data quality control
  • Project management
  • Delivering reports and insights

Market researchers earn a profit by marking up data acquisition costs, charging project management fees, and delivering useful reports that turn data into information that their clients asked for.

Let’s see a sample profit calculation

Typically, a small to medium-sized company will pay up to $5,000 for a 1,000 response research project. The researcher will acquire survey responses let’s say at $0.75 each, and charge the client $1 per response, also charging for additional services like reporting and research management.

Deduct the data acquisition cost from the project cost, you will be looking at a $4,250 profit for a simple project.

The standard range of CPR is between $0.6 (USD) and $5 (USD) per complete response – depending on the audience size, location, education, language, and other factors that make it easy or difficult to collect responses from the given target segment.

Cost per complete survey response depends on various factors, mainly on the length of the survey, engagement rates, abandonment rates, and of course survey distribution costs. 

Except for focus-group interviews, research data can be acquired with surveys. The primary cost factor for survey market research is the cost per response (CPR) and the number of required respondents.

How many respondents do you need for market research?

There are various confidence interval calculations to determine the required response quota for a research project, but typically companies go for the following:

  • 100-200 responses for quick micro-researches
  • 500-700 responses, if they need data for serious decision
  • Around 10,000 responses from multiple segments when they plan a multi-segment strategy
  • Even up to 100,000 responses in case of an extended research project

Data quality

Data quality is an important aspect of a market research project. Paying less for useless data is practically wasting money. Data cost is not an indication of quality. 

First-time market researchers might think that SurveyMonkey Audience or Google Surveys are good options. Wrong. Both platforms utilize incentivized respondent networks where participants only answer surveys to get paid. Over 35% of respondents on incentivized networks are proven to be fraudulent. Another 30% uses incorrect age and demographics settings, and nearly 20% are bots.

Market Sampler solves this simply by not paying for responses. Our public survey delivery system reaches people who are happy to give genuine feedback.

How to get started with offering market research services? 

Market Sampler was built for research professionals by research professionals. You can conduct survey research, targeting non-incentivized public audiences, real fast.

With a low cost per response, genuine organic responses, and fast research options, it is not a coincidence that market researchers from all industries use Market Sampler.

You can take a look at the available research tools by registering to our “Partner Area.” It’s free to register.

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Brand Management Business Concept Market & Economy News Partner Area Updates Resources

How to Offer Market Research Services for Your Marketing and Social Media Clients?

Social media and digital marketing management is a mature business with huge competition, and a similar skillset across all service providers. Day by day, new freelancers, consultants, small agencies and established larger marketing agencies compete for the same set of clients.

If you make a living from managing digital marketing, social media ads, ClickFunnels, or anything online for your clients, then you need to think a few steps ahead. Here are a few questions that we bet crossed your mind:

  • How will you remain relevant in the ever-increasing competition?
  • How do you ensure better results and more professional services?
  • What skills and know-how can you bring to your clients that they would not get from other digital marketing service providers?

Market research services is a fantastic opportunity for marketing and social media agencies – so why is it avoided?

Getting started with providing market research services is super simple. One can sign up to be a research partner with Market Sampler and access a set of pro-grade research management tools.

Market research is an area that digital marketers and social media managers do not focus on – and for good reasons, we will explain later on. It is common for large and mid-sized digital agencies to carry out market research and brand audits either as a standalone service or more commonly bundled into other services they provide. 

So why is market research not among the services of small marketing agencies and freelance marketers? There are a few reasons.

  • Market research is known to be a complicated process that requires specialized skillsets – this is true
  • Data collection is costly, and data quality from most survey platforms is questionable – this is also true
  • Small businesses do not require market research – this is not true

The harsh truth and the single biggest reason small marketing agencies do not do market research is that it could potentially undermine the credibility of their strategies. Let’s talk more about this.

Doing market research can potentially harm digital marketing and social media self-proclaimed experts who work based on their intuition

The vast majority of digital marketing and social media marketing service providers tend to work with a similar process with most of their clients. 

The professional experiences and ideas that shape how a marketer works might be convincing to clients, but it does not guarantee that her strategies will work in all cases.

People who follow proven processes do not like changes. They look at a problem and think they know how to solve it with their skillset and toolset that they used in the past.

Having primary market research results at hand might shake them out of confidence, data might prove them wrong, and their clients might realize that their digital marketing was going in the wrong direction at all.

Meanwhile, in top-tier agencies, market research is a daily routine. Decisions and directions there are based on research data. In professional marketing and business planning, marketers answer questions with data, which is one of the reasons why professional agencies can deliver significantly better results – and why clients pay a premium for their services.

Data and evidence-based marketing planning sound a lot better to a client compared to “I know what to do, did it in the past.”

Including market research in your work as a digital marketing or social media company is a significant upgrade

Selling research and data as a separate service or bundling it into your services is a significant level up from basic marketing and social media service providers.

Now let’s talk about how someone can successfully integrate market research into their set of services. Before we get to that, let’s see why professional-level market research is a challenge for most people who don’t know the industry.

The problem with incentivized market research platforms and survey fraud

We mentioned that market research is expensive, and data quality is often questionable. It is true when someone uses basic or entry-level solutions like Google Surveys, SurveySparrow, or SurveyMonkey. 

The problem with such services is that these are getting responses from incentivized survey networks, which means these platforms are full of participants who only care about getting paid a few cents for completing surveys. This is why data will become expensive and low quality, practically useless.

The biggest problem of the market research industry is bad responses. Over 35% of participants on paid survey networks and “panels” are fraudsters abusing survey platforms to maximize their earnings. Another 40% are broke students who want to get a few dollars in their free time. A recent study showed that nearly 20% of respondents are bots. The ratio of genuine respondents is estimated to be below 10%.

Market Sampler solves this simply by not paying for responses. Our public survey delivery system reaches people who are happy to give genuine feedback. With our platform, you can distribute surveys to 4+ million websites or apps, with the ability to target people on premium placements like Forbes, The New Yorker, CBS, BBC, Cosmopolitan, and more.

Market Sampler is a professional-level market research tool for those who want reliable data without the price and hassle

Like graphic designers do not work with MS Paint, professional market researchers do not work with SurveyMonkey or Google Surveys. Adept researchers use Qualitrics, outsource their surveys to Lucid, or run micro-researches on Market Sampler.

Qualtrics is the industry-standard tool for professional market research in the Fortune500 segment. Using Lucid requires serious technical pre-requisites like APIs. Market Sampler is the tool for fast and relatively small-scale research at a low price.

Market Sampler was built for occasional researchers and marketing managers in small to medium enterprises, keeping segment-specific requirements and preferences in mind.

  • One can buy data at a low price, like $0.6 per response
  • Anyone can start professional-level market research from $50, which will get you over 100 responses with fairly broad targeting criteria
  • The micro-survey creation tool can take questions in any language, and targeting is possible to any country in any language too
  • Data delivery timeline, cost per response, and estimated response quota are calculated in real-time as you configure your survey
  • A research status tracker tool is available to check your order status
  • Market Sampler data is from public survey research, not from paid survey networks

The price end customers are willing to pay for a 1,000 response market research project is over $3,000 (USD). You can acquire this amount of data from Market Sampler at around $500-$600. Not a bad markup opportunity for buying and selling data, right?

Be an early adopter and extend your specialization with market research

Over 50 large marketing agencies use Market Sampler in the US and Canada alone. We do not yet have an extensive partner network among small and medium-sized marketing agencies. It is an excellent opportunity to start providing market research as a standalone service or to use research to enhance the quality of work.

Have you ever thought about offering market research for your clients? Do you think it is a good opportunity to add value to your business? If so, then register to become a research partner.

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Brand Auditor Is Now Part of Market Sampler

We are excited to announce that Brand Auditor, the popular brand feedback measurement solution we started in late 2020, has become part of Market Sampler. Why was this important, and what changes?

How did Brand Auditor start?

To understand why the merger was a good move, we need to go back in time. Back in 2020, Brand Auditor was built on a simple idea. 

We built a system to crowd-source consumer opinion related to brand awareness and brand perceptions. Shortly after launching the company, we learned that people wanted to use it differently compared to how we imagined it.

One year in business taught us that people want more flexibility in survey configuration and more control over their market research budget. The initial data models and survey distribution capabilities turned out to be extremely limited so we needed to rebuild the back-end entirely to enable additional flexibility, a better survey distribution system, and most importantly, improved data quality.

System improvements eventually got us to Market Sampler

Our programmatic survey delivery system got hooked up to new audience networks, including Microsoft, Google, Facebook, and more. Entering these networks enabled plenty of new targeting options, increased our target audience by over 2,000 times, and enabled us to deploy survey campaigns to over 4 million websites and apps.

We have taken a step back to look at our new system. We immediately saw that this is far more capable than the initial one, and it can do a lot more than brand auditing. We called it Market Sampler. This was in Q3 2020. 

Our system got tested by various NGOs, political parties, for-profit businesses and it turned out to be amazingly useful. Following the successful introduction, we decided to make it available for end customers so, by late 2021, Market Sampler was released for the public.

Merging Brand Auditor with Market Sampler

The new system that eventually became Market Sampler was meant to be an improved version of Brand Auditor. We got what we wanted, but it no longer made sense to operate multiple versions of the same system. To streamline our operations, we decided to run Brand Auditor on the new Market Sampler platform – as part of the new research service.

That’s it. Brand Auditor customers now can benefit from additional targeting options, lower cost per response, and significantly better data quality. 

We are always looking for opportunities to reduce our operational overheads as it helps us to keep our service prices and cost per response low. Merging the two services save us resources, which we use for further developments to improve our market research capabilities while keeping the cost per response costs at a reasonable minimum.

Brand Auditor is available on the Market Sampler website here:

Brand Auditor

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Free Tool to Measure NPS, Price and Product Perceptions for Any Business

We have timed this post to the beginning of the festive season as a gift from us to the industry.

Our market research company launched a free NPS and consumer insight survey tool. Open for anyone, no strings attached. Several international brands have already signed up already.

We are proud to bring the first entirely free consumer insight system and net promoter score (NPS) to the market with Market Sampler.

If you work in marketing, you must be familiar with net promoter score (NPS), price perception, and product perception. These are essential parts of any conversion, growth, and referral strategies.

In a nutshell, this free tool lets you track satisfaction indicators of how your business and prices are seen by potential clients, users, or customers.

In addition, the system lets you monitor changing satisfaction trends over time, and you can also compare scores with other participating companies.

The importance of NPS, price perceptions, and product perceptions in marketing

It is a fact that sales and marketing success depends on how well you can maintain a balance between product, value, and how likely people would recommend you to others.

What is a net promoter score?

Net promoter score is a widely used market research metric that typically takes the form of a single survey question asking respondents to rate the likelihood that they would recommend a company, product, or service to a friend or colleague.

What is price perception?

Price perception is one of the leading variables of the consumer’s selection and buying process. Based on customer survey feedback, this metric indicates the price satisfaction level of customers.

Sales and revenue management teams use various calculations to set prices to follow market trends and customer expectations. Higher prices do not necessarily decrease demand if prices are justified with an improved product presentation or value for money.

Marketing teams can use the price perception index to get feedback regarding price acceptance across various segments — then figure out how to work with the updated prices.

What is product perception?

Product and service perception scores help you understand how well your products and services are presented. Many variables can impact product perceptions. Starting with the negative ones, a poor website, low-quality product photos, and bad reviews will ruin how your potential customers perceive your business.

On a positive note, sleek photography, a crisp website, excellent pre-sale service, and social proof on review sites will help to develop a great perception.

With Feedback Pool, your marketing team can measure how potential customers perceive the products and services of your company.

How to get started?

Visit marketsampler.com/feedback-pool for more information and the registration link.

Once you create your account, click on the “Feedback Pool” button to access the global measurement dashboard. Under the dashboard, you will find the feedback link generator tool. Use that to generate a unique feedback link, and use that link on your website, app, or convert it into a QR code for offline use.