Last time we talked about market research and how it can help SMS advertisers. This time, we’d like to have a look at how this kind of research is done.
In classic market research, there are 5 stages.
1 Define the problem
First identify what problem you’d like to solve with the help of market research. When you have a clear idea of the questions you’d like to answer,set tasks; specific actions that will lead to this goal.
2 Draft a study plan
To avoid possible errors, the plan should be detailed and include the following points; budget, methods, sources of information, a description of the target audience for the research and the methods of gathering information which will be used.
3 Collect information
This is the longest stage, where the most mistakes occur. Here you may face the bad faith of the respondents, the bias of the researchers and even errors in data collection. Thorough preparation for research will help you keep mistakes to a minimum.
4 Data analysis
Researchers analyse data both independently and using computer modelling. Analysis includes:
- data verification (questionnaires, viewing interviews and so on);
- editing (excluding incorrect answers and those that can’t be processed);
- classification of responses and their extrapolation into a more understandable form;
- converting data into different analytical formats (eg tables and special services);
- data cleansing, working with missing answers and data correction.
5 Presenting the results
Clients receive the finished data from studies. These are already clear and formalised, with results and conclusions. Reports also include descriptions of the goals, research methods, and recommendations.
Market research is essential for businesses. With its help, you can understand how to develop your business further, what kind of advertising campaign to launch and whether it will work.
If your market research has shown that you need to include SMS mail-outs in your promotions, then we suggest you register on our platform. There you will find all the tools you need to create and manage large scale text messaging.