ONLINE MARKETING Online Marketing Research YOU ARE HERE!

eMARKETING RESEARCH FOR CONFIDENT DECISION MAKING

Gather Market Intelligence to Stay Ahead of the Competition

Although a critical step to the success of any marketing strategy, strategic market research is not employed nearly enough by the majority of companies. While we often take for granted that we know what our consumers think, in reality we could, quite possibly, have no clue on their opinions and attitudes.

Before we go out and spend substantial amounts of our marketing budgets based on gut feeling alone we should make sure we understand what customers really want and not what we think they want. The importance of gathering relevant, accurate, and current information, analyzing and converting it into market intelligence - at the various stages in business decision making process - cannot be overemphasized.

Strategic online market research reveals powerful insights into a market, what makes it tick, how consumers really behave, current trends in consumer spending habits, future consumer marketing trends, etc. - and how you can leverage this knowledge in your own business.

Knowing how to reach your targeted consumers, how to market to them effectively and drive revenue for your business is vital for your ongoing market success. Whether to solve problems or discover opportunities, timely insight into eMarketing research findings is the key to accurate and confident decision making.

INTERNET IS A HUGE POTENTIAL CUSTOMER BASE

No matter how you measure it, more people are using Internet more frequently than ever before. And rapidly increased online engagement and Internet audience size translates into a large market place.

Latest statistics reveal there are over over 1,5 billion worldwide Internet users (Internet WorldStats, 2009). Internet is a huge potential local and international customer base - and the fastest growing in the world.

Still among the world's online leaders, the US has over 250 million Internet users - 74.4 % of population (China surpassed it in 2008). Currently, Americans are using the Internet more often than ever - nearly half of Americans are frequent Internet users (Gallup, 2009).

Internet is not only a huge potential customer base but consumer research online influences greatly both offline purchasing and shaping of branding perception.

SHOPPING ONLINE IS CONVENIENT

Shopping online has become very popular. Current research on shopping habits online shows that:

• most online Americans view online shopping as a way to save time and a convenient way to buy products (Pew Internet, 2008),
• more than 85% of the world’s online population has used the Internet to make a purchase and 94% of US Internet users have bought online (Nielsen, 2008),
• total online sales have grown explosively over the last five years (Mintel, 2009).
  

People rarely buy straight away. Few online purchasing experiences are completed without previous research, and the Internet makes such research easy.

CONSUMERS LOOK FOR INFORMATION FIRST

To make informed buying decisions, shoppers first look for different kinds of information resources available online - to discover and evaluate products, compare them, explore product reviews and recommendations, and find where they can be purchased. Customer reviews are an important research tool for online consumers.

• Almost ALL Internet users (92.5%) conduct online research before buying something (BIGresearch, 2007).
• 81% of US online shoppers read product reviews by other customers when doing shopping.
• 71 % agree that consumer reviews make them more confident in choosing the right product (Nielsen, 2008).

ONLINE RESEARCH INFLUENCES BOTH ONLINE & OFFLINE SALES

Vital for online sales, product research also drives offline sales:

• More than 50% of consumers who do research online make the purchase offline (Forrester, 2007).
• Online product research is actually driving more in-store sales than online sales (eMarketer,2008).

ONLINE RESEARCH IMPACTS BRAND LOYALTY

Online research changes brand decisions for online consumers:

• 4 out of 10 online shoppers switch brands after online research (EIAA, 2008)
• Typical US brand lost 52% of its most loyal shoppers in 2008 (CMO Council, 2009).

With the increase in online product research consumers become more open-minded about trying new experiences, so the shift in their online shopping habits and brand decisions might be expected.

Nevertheless, understanding consumer behavior and spending trends in recession is paramount - if you want to market to your customers effectively. Recession Impact on Internet Usage & Consumer Behavior Change >>

Using eMarketing research to understand your audience better, anticipate a change in consumer needs and preferences, and refocus your marketing strategies to act upon emerging opportunities is vital to make smart, accurate business decisions.

User Oriented Design & Ethical Website Marketing Strategies by Distinctia, 2003