market research: do you know why your customers do what they do?
DESCRIPTION
Feb 2013 Webinar: How to get the most from your research budget. Find out how to determine what you really need to know. Learn how to define your approach, assemble the best research team, and then interpret the data to help you refine your lead generation, branding, and product development programs.TRANSCRIPT
Natural ImpulsesTapping into the emotions that drive buyer behavior
DO YOU KNOW WHY YOUR CUSTOMERS DO WHAT
THEY DO?
Make qualitative research your best friend
Natural ImpulsesTapping into the emotions that drive buyer behavior
WHO ARE WE?
Principals of Natural Impulses
Mary Samuelson
Joy Ward
Natural ImpulsesTapping into the emotions that drive buyer behavior
WHERE ARE WE GOING?
What are the differences between quantitative and qualitative research?
What should you expect from each type of research?What should you not expect from both?
Natural ImpulsesTapping into the emotions that drive buyer behavior
QUANTITATIVE RESEARCH, BIG DATA AND ANALYTICS
Quantitative Research will tell you what people do. What it won’t tell you is why they do it.
Natural ImpulsesTapping into the emotions that drive buyer behavior
UNDERSTANDING QUALITATIVE RESEARCH
What IS qualitative research?• Used to identify emotional and behavioral
patterns• Looks for WHY and how a behavior is formed
Natural ImpulsesTapping into the emotions that drive buyer behavior
UNDERSTANDING QUALITATIVE RESEARCH• What IS qualitative research?
• Famously used by Piaget to design study of child development
Requires small respondent sets
Effective market research can be more or less expensive than quantitative depending on what is needed
Look for results, not cost
Natural ImpulsesTapping into the emotions that drive buyer behavior
UNDERSTANDING QUALITATIVE RESEARCH
Why do I need qualitative research?The answers lie in the target markets’ heads
You are NOT the target marketYou need to get into their heads
Natural ImpulsesTapping into the emotions that drive buyer behavior
UNDERSTANDING QUALITATIVE RESEARCH
What are the various kinds of qualitative research?
Focus groups and triads
Natural ImpulsesTapping into the emotions that drive buyer behavior
UNDERSTANDING QUALITATIVE RESEARCH
What are the various kinds of qualitative research?
EthnographicMystery shopping
Natural ImpulsesTapping into the emotions that drive buyer behavior
UNDERSTANDING QUALITATIVE RESEARCH
What are the various kinds of qualitative research?
EvocativeBrain scans
Natural ImpulsesTapping into the emotions that drive buyer behavior
UNDERSTANDING QUALITATIVE RESEARCH
What are the various kinds of qualitative research?
Interviews
Natural ImpulsesTapping into the emotions that drive buyer behavior
WHAT DO I DO WITH QUALITATIVE RESEARCH?
Use qualitative BEFORE the quantitative research to refine your information, understand emotional ties to specific product types, branding and future product and services development
Natural ImpulsesTapping into the emotions that drive buyer behavior
WHERE ARE WE GOING?
How do you combine qualitative and quantitative research to get the strongest, most actionable results from your research?
Natural ImpulsesTapping into the emotions that drive buyer behavior
QUANTITATIVE RESEARCH, BIG DATA AND ANALYTICS
Quantitative research will tell you what people do. What it won’t tell you is why they do it.
Natural ImpulsesTapping into the emotions that drive buyer behavior
QUANTITATIVE RESEARCH, BIG DATA AND ANALYTICS
Many ways to collect quantitative dataCATI (Computer Assisted Telephone Interview)
CAPI (Computer Assisted Personal Interview)
PAPI (Pencil and Paper Interview)
Mail SurveysWeb Surveys
Big Data Modeling
Natural ImpulsesTapping into the emotions that drive buyer behavior
13%
10%
General Population = 26.5%
General Population = 23.3%
Natural ImpulsesTapping into the emotions that drive buyer behavior
TRASH IN, TRASH OUT
TITO
Natural ImpulsesTapping into the emotions that drive buyer behavior
An example of what can happen when you don’t ask the right questions. Qualitative research can be your best friend in helping ensure that you get the information you need.
OOPS!
Tapping into the emotions that drive buyer behavior
Dad’s Dilemma
Wid Get
Who would be the best choice to take over
my company?
Natural ImpulsesTapping into the emotions that drive buyer behavior
Natural ImpulsesTapping into the emotions that drive buyer behavior
Get’s Quantitative Team
Price ColorSize
Natural ImpulsesTapping into the emotions that drive buyer behavior
Los Angeles
New York
Tampa
Wid’s Qualitative Team
Natural ImpulsesTapping into the emotions that drive buyer behavior
Speed
Partnership
Attribute X Color
Qualitative Research Results For Widget Attributes
Attribute Y
Attribute Z
Natural ImpulsesTapping into the emotions that drive buyer behavior
Quantitative Research Results For Widget Attributes
Quantitative Importance PercentagesPrice 98%Attribute V 34%Attribute W 8%Attribute X 28%Color 12%Company Size 42%Geographic Location 51%Customer Base 39%
Natural ImpulsesTapping into the emotions that drive buyer behavior
Comparison of Results
QualitativeSpeedAttribute XAttribute YAttribute ZBluePartnership
QuantitativePriceAttribute VAttribute XCompany SizeGeographic LocationCustomer Base
Based On Qualitative Findings
As your partner in the widget industry, we know what you want! We have the fastest widget on the market; it does X, Y, and Z, and comes in a beautiful blue color.
Attributes:SpeedAttribute XAttribute YAttribute ZColorPartnership
Natural ImpulsesTapping into the emotions that drive buyer behavior
Based on Quantitative Findings
We have the cheapest widgets in the industry. They do V and X and do it really well, so no matter what your company size or location, buy your widgets from us!
Attributes:Price 98%Attribute V 34%Attribute X 28%
Explained Variance =.18
For these you know WHY For these you know HOW MANY
Based On Combined FindingsYou would understand that:Speed Is important because in this particular industry, speed is linked to higher revenue which is emotionally linked to success.Attribute XAttribute YAttribute ZColorIs important because in this particular industry if no specific color is required for this widget ,it is linked to pride and job satisfaction.
Natural ImpulsesTapping into the emotions that drive buyer behavior
PartnershipIs important because this widget plays an important role in the manufacturing process and if it fails the buyer needs to feel that his “partner” will do what is needed to get their operation back up and running as quickly as possible. The emotional motivator is security.PriceIs seen as important because it is linked, in this instance, to several emotions such as achievement and success.Attribute V 34%Attribute X 28%
Natural ImpulsesTapping into the emotion that drives buyer behavior
Attributes’ Overall Importance Ratings:
Speed 28%Price 38%Attribute V 54%Attribute W 43%Attribute X 22%Attribute Y 5%Attribute Z 8%Partnership 59%Color 18%
Company Size 62%Geographic Location 51%Customer Base 40%
Quantitative Informed By Qualitative shows:
Much more important
Much less important
Much less important overall but more important to a specific segment.
Natural ImpulsesTapping into the emotions that drive buyer behavior
Focus is on attributes V, W,
price and partnership.
Attributes Overall Importance Ratings:
Speed 28%Price 38%Attribute V 54%Attribute W 43%Attribute X 22%Attribute Y 5%Attribute Z 8%Partnership 59%Color 18%
Company Size 62%Geographic Location 51%Customer Base 40%
Based on Correctly Implemented Quantitative…
Natural ImpulsesTapping into the emotions that drive buyer behavior
As your partner in the Widget industry, we provide the best possible pricing for high quality widgets. (Assuming that attribute V is quality.) Our widgets are the fastest available today, fully equipped for X and Z, and we are so sure of their dependability that we offer a lifetime warranty that is second to none.
QualitativeAs your partner in the widget industry, we know what you want! We have the fastest widget on the market; it does X, Y, and Z, and comes in a beautiful blue color.
QuantitativeWe have the cheapest widgets in the industry. They do X and V and do it really well, so do yourself a favor and buy your widgets from us!
The Right Marketing Message
Natural ImpulsesTapping into the emotions that drive buyer behavior
QUALITATIVE TELLS YOU WHY,
QUANTITATIVE TELLS YOU HOW
MANY.
Natural ImpulsesTapping into the emotions that drive buyer behavior
WHY IS IT IMPORTANT TO KNOW BOTH? BECAUSE FOR A PRODUCT
TO BE MARKETED EFFECTIVELY, YOU MUST UNDERSTAND THE
MOTIVATION THAT LEADS YOUR MARKET TO USE IT.
Natural ImpulsesTapping into the emotions that drive buyer behavior
QUESTIONS?
Natural ImpulsesTapping into the emotions that drive buyer behavior
NATURAL IMPULSES
Mary Samuelson and Joy Ward are the Principals of Natural Impulses, a research firm devoted to helping their clients reach the deepest understanding of their markets and clients.