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Marketing Research for Events New Tools and
Technologies
Christopher Lucas May 16, 2007
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Agenda

• Definitions
• Questions Market Research can Answer
• Why Conduct Market Research?
• Types of Market Research
• How to Conduct Market Research
• Competitive Intelligence
• Questions Answers

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What is Marketing Research?

• Systematic and objective identification,
  collection, analysis, dissemination, and use of
  information for improving management decision
  making related to the identification and solution
  of marketing problems and opportunities.

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Customers Drive Marketing Decisions

• Know Your Customer!
• Ask the right people the right questions
• Listen to their answers
• Understand Respond to Meet your Customers
  Unmet Needs (Pain Points)
• Uncover Customer Attitudes Opinions
• How do your products benefit them?
• Goal Meet or exceed customers expectations

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Market Research Answers Your Marketing Questions

• Who will buy your products?
• Where are the best market opportunities to sell
  your products and services?
• What factors influence their buying decisions?
• What image, perception and opinions do they have
  of your company, your products, your
  competitors?
• Why would they buy from you instead of from your
  competitors?
• What products and services would trade show
  attendees buy from you?
• What price are they willing to pay?
• How much do they already spend on products like
  yours?
• What market segments should you target and
  position your company to serve?
• How effective are your marketing communications
  and trade show displays?
• How can you best reach your target audience and
  effectively communicate messages that would
  appeal to them?
• Who's visiting your trade shows and Web site?
  How effective are your displays and your Web site
  at converting visitors into customers?
• What other information do you need to know about
  your customers and markets to increase your sales
  to them?

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Should You Conduct Research?

• Evaluate Available Resources
• Budget, Time, Manpower
• Assess Your Need for Information
• Conduct research only if the value of the
  information insights you obtain from research
  is greater than your cost to acquire it

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Primary vs. Secondary Research

• Research, review secondary data
• Internet / Library / Desk Research
• Is information already available?
• Internal vs. external data sources
• If secondary information is not available,
  conduct Primary Research

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Types of Primary Research

• Custom vs. Multi-Client (syndicated/omnibus)
• Quantitative vs. Qualitative
• B2B vs. B2C
• English-only vs. Multilingual/Multicultural
• Emerging Technologies
• Social Networks
• Mobile Research

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Primary Research Techniques

• Qualitative Research
• Focus Groups
• In-Depth Interviews
• Quantitative Research
• Surveys and Experiments
• Descriptive vs. Predictive

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Marketing Research Applications

• Advertising Communication Effectiveness
• Audience Profile Studies
• Brand Image/Competitive Market Positioning
• Competitive Intelligence
• Concept Testing
• Consumer Attitudes / Opinions / Perceptions
• Customer Satisfaction / Loyalty
• Market Segmentation
• Market Size / Market Share / Sales Potential
  Measurement
• New Product Service Development
• Price Sensitivity
• Product Usage
• Purchase Intentions / Behavior
• Trend Forecasting
• Web Site Evaluation, Usability Testing,
  Audience Profile Studies

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Why Conduct Market Research at Trade Shows
Events?

• Conferences Trade Shows offer Unique
  Opportunity
• Sample Top Customers and Competitors, all in
  same place at same time
• Pre-conference, On-Site, and Post-Conference
• Follow- Up Surveys of Conference Attendees
• How did they like your display, products?
• Purchase Intentions will they buy from you?

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Trade Show Competitive Intelligence

• Be a Trade Show Super Sleuth
• - Research Your Competitors at Trade Shows!
• Mystery Shop Your Competitors Exhibits
• Ask your Competitors, whos buying your
  products? - market to them-theyre also your
  potential customers!
• Ask Attendees what they think of you, your
  competitors
• How do Competitors offers compare with yours?

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Conduct Your Own Surveysvs. Hire an Expert?

• Do-it-Yourself Online Survey Tools
• Zoomerang, Survey Monkey
• Quick, convenient, easy, low-cost
• Representative, Accurate?
• Warning Its not as easy as you may think!
• Many factors to consider
• Attention to detail
• Recommend hiring a Research Professional

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Marketing Research Process

• Consult with Your Team Members Decision Makers
• Define marketing issues to address
• Determine research objectives
• Identify/Assess Information Needed
• to solve marketing problems
• to identify marketing opportunities
• to support marketing decision making
• to obtain desired results (increase sales)

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Define Purpose Scope of Study

• Research Objectives, Goals
• Analyze Consumer Attitudes, Behavior
• Identify/Determine Customer Needs
• Prepare Research Proposal / Plan
• Review, revise
• Final approval

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Define Your Target Market

• Who is your ideal Customer?
• What are your Customers preferred communication
  channels?
• Determines Research Methodology
• In Person
• Telephone
• Direct Mail
• Internet
• Conduct Interviews with
• Industry Experts
• Opinion Leaders
• Loyal Customers

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Interactive, Web-based Internet Research
Technologies

• Web Site Visitor Surveys (self-selecting)
• Online Surveys (controlled sample)
• Trade Show Kiosk (Laptop PC with Internet
  Connection)
• Online, Real-Time Analysis Reporting of
  Research Results

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Online Surveys Invitation Only

• You Control Sample Selection
• Use Opt-In Lists
• Customer/Prospect Email Addresses
• Email invitations with URL link to Survey Web
  Site
• Invite Respondents to Take Survey

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Web Survey User ExperienceSee from the Users
Perspective

• Make Invitation Survey Fun, Enjoyable,
  Interesting, Entertaining
• Compelling Copy and Graphics
• Give reasons why they should take survey
• How does Customer benefit? Whats in it for
  them?

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How to Get People to Take Survey?

• Offer Incentive for Completing Survey
• Free Gifts/Prizes/Giveaways at Trade Show
• Contests, Sweepstakes Drawings
• Discounts off Your Products
• Topline Survey Results
• Cash always works!

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Manage Survey Research Process

• Design Research Plan
• Design Sampling Plan
• Schedule Research Project
• Design Survey Instrument (Questionnaire)
• Program Survey
• Data Collection
• Data Processing
• Editing, Coding, Tabulation

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Sample Design

• Who you talk to is as important as what you ask
  them
• Random sampling is usually best
• Projectable to represent population of interest
• Online panelsprerecruited, prescreened,
  prequalified
• Eg Recent purchasers of your product

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Questionnaire Design

• 10-15 minutes max. survey length
• Question wording / phrasing - avoid bias
• Question Order, Logic, Flow
• Natural language vs. Researchese
• Capture information
• Categorical vs. Open-Ended Questions
• Scales even vs. odd

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Uncover Customer Insights

• Ask questions that elicit opinions
• What do customers think about your company, your
  products?
• Determine customers needs
• How do your products benefit customers?

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Customer Profiles/PersonaeWho Buys Your
Products?

• Segment Market by
• Demographics
• Age, Gender, Income, Education, Ethnicity
• Psychographics/Lifestyle
• Purchase frequency/product usage
• Frequent vs. infrequent buyers / users
• Amount spent, items purchased
• Channel of distribution
• Retail, Catalog, Internet

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Customer Satisfaction Loyalty

• Customers assign importance performance
  ratings to choice criteria they use to select
  company/product
• How well does your company perform in each area?

• Quality
• Product selection
• Price/value
• Reputation
• Customer service support
• Experience
• Timely delivery

• Convenience
• Familiar with needs
• Quick response to requests
• Environmentally friendly
• Easy to order
• Accurate billing
• Online shopping

• Create customer loyalty segments/profilesbased
  on customer satisfaction ratings

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Statistical Data Analysis

• Cross-Tabulation
• Frequencies, Percent, Mean, Median, Mode
• Significant Differences
• Perceptual Mapping
• Regression Analysis
• Discriminant Analysis
• Cluster Analysis
• Factor Analysis
• Conjoint Analysis
• SPSS

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Database Marketing

• Integrate demographic/psychographic/attitudinal
  information from primary survey research with
  behavioral/transactional sales data/consumer
  purchase information
• Identify purchase patterns
• Predict consumer buying behavior

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Data Analysis Reporting

• Prepare tables, charts, graphs
• Perform Insightful Analysis
• Transform survey data into valuable, usable,
  information
• Summarize findings, conclusions and
  recommendations for action
• Write Summary Report
• Present results to Decision Makers

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Implement Findings

• Apply knowledge, information, insights from
  research to
• Support management decision making
• Solve marketing problems
• Understand customers' needs
• Identify market opportunities
• Develop effective strategies and tactics
• Implement successful marketing action plans to
  increase your trade show attendance and sales

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Project Timeline Deliverables

• Task Timing
• Consult with Decision Makers, identify
  information needed Week 1
• Prepare Proposal Week 2
• Exploratory Research Week 3
• Secondary Data Analysis Week 4
• Qualitative Research (Focus Groups, Interviews)
  Week 5
• Quantitative Research Week 6
• Design Survey Questionnaire Week 7
• Program survey Week 8
• Data Collection Week 9
• Data Processing Week 10
• Data Analysis Week 11
• Prepare tables, charts, graphs Week 12
• Write Summary Report Week 13
• Present results, findings, conclusions,
  recommendations Week 14

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Questions Answers

• For a free consultation on how to communicate
  with your customers and attain strategic
  knowledge, understanding and insights into your
  market opportunities worldwide, please contact
• Chris Lucas
• President
• INTOMAR
• 1.831.728.3200
• www.intomar.com
• marcom_at_intomar.com