The 5 Phases Of An Effective Marketing Research Process

by Jenny on February 19, 2014 Comments Off on The 5 Phases Of An Effective Marketing Research Process

What prompts your company to conduct primary research? Do you start research projects immediately after identifying a need for data, or are your efforts calculated and planned out with “the big picture” in mind?

Successful research projects tend to exist within an over-arching research strategy that applies to more than just one company division. It is wise for department heads to meet, preferably early Q1, to discuss research goals and objectives relevant to their individual teams. From there, a collective research strategy can be created in an effort to maximize the value of research efforts, to avoid over saturating your consumer base with surveys, and to ensure the highest possible return on any research investment. Once a plan is agreed upon, research can be conducted with confidence and results can be distributed to the appropriate division within the company.

We have worked through these steps with past clients and found them to be very beneficial for all those involved. To further explain the process and value of creating a company-wide research strategy, we’ve established 5 key phases:

Phase #1: Research Inventory

Establish the current state of research within your company; what do you already know? Create an inventory of all current and past research projects with details on types of questions, sample size, and timing.

Phase #2: Clearly Define 2014 Research Strategy

Determine data needs by department and compare to overall company priorities. Using the Research Inventory from Phase #1, identify opportunities where additional research could be helpful to meet your goals.

Phase #3: Conduct Research

Obtain comprehensive sets of data and manage the data acquisition process to hit success rate goals.

Phase #4: Combine Research with Other Data

Create a plan for incorporating your research findings with existing customer data obtained from previous research efforts.

Phase #5: Share Results

The best way to maximize the value of any research project is to share the results with others in the company. Regularly examine data to identify trends and opportunities for improvement.

Over the following five weeks, we will dig deeper into each phase providing more detail and in-depth examples to help make your company’s research strategy as efficient and results driven as possible.

Make sure you check back next week!

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Jenny Dinnen is President of Sales and Marketing at MacKenzie Corporation. Driven to maximize customer's value and exceed expectations, Jenny carries a can-do attitude wherever she goes. She maintains open communication channels with both her clients and her staff to ensure all goals and objectives are being met in an expeditious manner. Jenny is a big-picture thinker who leads MacKenzie in developing strategies for growth while maintaining a focus on the core services that have made the company a success. Basically, when something needs to get done, go see Jenny. Before joining MacKenzie, Jenny worked at HD Supply as a Marketing Manager and Household Auto Finance in their marketing department. Jenny received her undergrad degree in Marketing from the University of Colorado (Boulder) and her MBA from the University of Redlands.

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