The AMA’s 2010 Market Research conference is coming soon (September 26-28). I will be there, and encourage anyone interested in educational and peer networking opportunities to join me.

Great Keynote Speakers

Take a look at these speakers—what an amazing list!

• Stan Sthanunathan, VP Strategy and Global Insights, Coca Cola
• Daniel Marcu, VP Research, IFC/Sundance
• Lane Cardwell, CEO, Boston Market
• Joe Batista, Chief Creatologist, HP
• Julie Propper, Director of Advertising Analytics, ESPN
• Dave Norton, CMO, Harrahs
• Clare Hart, Former Executive Vice President, Dow Jones & Company

My Top Pick

There will be many great speakers, but I always particularly enjoy practical market research applications. That is why I am especially  eager for this session: Isabelle Helms and Morgan Richards from AutoTrader.com will be presenting, “Building a Cost-Effective, In-House Normative Concept Test Program.”

Interested in seeking user feedback before you launch a new idea on your site? Limited concept testing research budget?  Then join us for this innovative session as we share how AutoTrader.com developed the “Concept Lab”, an in-house research solution enabling researchers to test new and revised online concepts with site users in a cost-effective manner.

My Session

I am pleased to announce that I will be presenting with Michaela Mora, at one of the Advanced Learning Sessions: Market Segmentation & MaxDiff: A Practical Application.

“Have you ever used MaxDiff in a market segmentation project? If you are looking to add an option for designing segmentation studies, join us for an interactive session on MaxDiff for Market Segmentation.

This session will start with a brief introduction to MaxDiff, for those audience members who may not have used it before. We will then proceed to scenarios of using MaxDiff to support a market segmentation analysis, including an actual case study. This session includes an interactive exercise for audience participation. The session will also include practical success tips.”

Conference Details

Place: Atlanta , GA
Date: 9/26/2010 12:00 PM  – 9/29/2010 12:00 PM

Sign up: Register by 8/26/2010 11:00 PM  for early registration fee (Registration Info)

I hope to see you there!

Market segmentation is all about sales and marketing ROI. The premise is that to maximize success with a large population of customers, it is best to divide it into logical subgroups. By dividing one large, generalized market into subgroups, you can fine-tune your product, messaging, promotional, distribution and related strategies to meet the specific needs of unique customer groups.

Segmentation models vary from basic to complex, and the approaches to developing and applying them is a topic for an entire book itself. But here are three examples of the very real benefits a segmentation model delivers:

1. Plan product roadmaps. It’s a lot easier to craft a roadmap when you have internal agreement about the profiles—including needs and behaviors—of the most attractive customer segments. If decision makers share a common view of what the most attractive segments are, and their emerging needs, planning new products and product improvements becomes a far more time and resource efficient  process. Not to overlook the obvious benefit that customer-inspired product ideas are more likely to succeed.
2. Embrace niche marketing. Few companies can afford to compete with the big fish in the big pond. Instead, a segmentation model shows you how to be a big fish in a little pond—or several little ponds.  A segmentation project can be designed to identify, profile and select profitable niches.
3. Setting your budget. Why let a marketing budget be set by something arbitrary, such as percent of sales? A segmentation model can provide a more meaningful, analytical approach. Given the size of attractive segments, and objectives for each segment (awareness/preference/market share, etc.), a strategic budget aligned with actual goals can be built. When you take this approach for the first time, you will likely find yourself investing less in some marketing programs, and more in others.

These are just 3 examples—there are many more. Indeed, there are many ways that a segmentation model can help your organization make money and save money. That said, actually creating a segmentation model is fairly complex, and success requires a very thoughtful planning process. Before you start, I strongly urge you to get assistance from someone who has experience with these types of studies—either a  consultant or a market research agency.

For those interested in learning more about market segmentation, I have three offers for  you:

First, please check out my new white paper, “9 Ways Market Segmentation Improves Business Success.” GET WHITE PAPER

Second, check out the preview of the new, 53-minute online introduction to market segmentation, “Divide & Conquer: Practical Steps to Market Segmentation Success.” CLASS PREVIEW [Research Rockstar VIP members: please note that this class is currently available in the members’ area—just log-in, click, and view!]

Third, for those interested in on-site training, I now have a more in-depth, 2-hour version of the online class, which includes interactive exercises for teams planning to create a market segmentation model. For a class outline, email me at KKorostoff@ResearchRockstar.com. Thanks!

Have you been waiting to take a Research Rockstar class, but just not yet gotten around to it?

Maybe it would help if you could see what an online class looks like. So here’s a video:

A few more things to know about our online market research classes:

• All classes are fully narrated, so you may want headphones if you are in a public area.
• Members can watch classes as often as they want.
• All classes are hosted—there is nothing to download!
• Most classes are just 30 to 60 minutes.
• All classes are designed for people who are actual buyers and users of market research; the content is extremely practical.

And remember, you can always start with a FREE membership.

A recent post here about online panels resulted in some interesting conversations with both in-house market researchers and a panel provider. Based on these conversations, I was inspired to elaborate more on the topic of online panels for those who may not have had the experience of working with them yet. So, if you are considering using an online panel for an upcoming project, and want some tips on how to manage this important resource, please check out my new white paper on online panels.

Online Panels: 7 Threats to Market Research Success

This 5-page white paper elaborates on what can go wrong when using an online panel, and how to mitigate these risks.

Truly,  panels are a great resource for anyone conducting surveys these days. And with a little practical advice, you will be able to use online panels successfully.

Yes, I want the Free White Paper about Online Panels! CLICK HERE

Some of our online market research classes have been updated, and we need feedback!  We’ll be testing the content by offering in-person seminars in Massachusetts. So here’s the deal: attend a free market research seminar, and all we ask in return is that you provide feedback.

The following topics are being scheduled:

• Introduction to Market Research Project Types & Methods (2 hours)
• Introduction to Market Research Project Management (2 hours)
• Product Concept Testing (1.5 hours)
• Designing Online Questionnaires (2 hours)
• Divide & Conquer: Introduction to Market Segmentation (1.5 hours)
• Creating Your Market Research Strategic Plan (1.5 hours)

Interested? Fill out this short form and you’ll get date and location information:  Seminars.  As soon as details are confirmed, you’ll get an invitation.

Thanks!

Great news! My article on DIY research “Why It’s Good for Everyone” won the counterpoint contest recently run by the MRA’s Alert! Magazine.

The article is reprinted in the MRA blog, here: Link1

I’ve received some amazingly positive response to the article. Most notably, from one of my favorite market research bloggers, Jeffrey Henning of Vovici, who declared it, “The best thing @ResearchRocks has ever written!” (@ResearchRocks being my twitter name).  It got circulated widely around the Twitterverse, and was even cited as inspiration for a wonderful blog entry by Canek Riestra (@criestra) here: Link2,  or in English here (using Google translate—so an ok version, but not perfect): Link3

Winning the contest also means I will have the opportunity to write 4 more columns in 2010 for Alert! My next article will be in the June issue.

So in case you missed it, here it is: Link4.  I welcome any feedback! And I always enjoy a good debate

Blogs tend to be a little less filtered than traditional magazines and newsletters. And that is exactly why I like to read them. In the market research space, there is no shortage of blogs. But I do find myself regularly checking these 5 (I’ll post a part 2 on other faves next week):

MR Heretic’s “Market Research Death Watch blog.” First, I just love the word “heretic.” Consistent with the name, the blog posts fresh, unforgiving looks at market research. Always worth a read. My only complaint: wish he posted more often! From a recent post, “The experimenters are labeled heretics by those with a vested interest in the status quo. The MR dinosaurs can see the comet hurtling toward them, but they refuse to evolve while the money is still flowing into their pockets.”

From Vovici (Vovici blog),  honest observations of market research trends, obviously based in lots of experience. This blog also shares useful data. Check this article out—you ‘ll see what I mean: LINK.

“Bad Research; No Biscuit” (blog link) posts wonderful critiques of online questionnaires and related topics. I don’t know who this person is, but I think the blog is great. Love the screen shots from actual surveys so that we can all ridicule the bad research together. Hope I never see one of my clients’ surveys here!

Zebra Bites by Katie Harrris (who also is on Twitter) covers qual research topics, with a good dash of sharp thinking about research communities as a recent focus. I also like her format: she tends to post short pieces that make a strong observation and then asks the important questions. She makes me think.

Compete’s blog. OK, this is more tidbits of actual research data than a blog about research…but I like it. The folks from Compete post frequently about current topics. What’s the buzz on Droid? They blog it here: LINK.  Pretty generous data sharing.

MRB, the Market Research Bulletin. Calls itself, “a member driven online bulletin board.” But to me, it often reads a lot like a blog; timely articles, current topics, with a focus on news from the market research industry…but some commentary as well.

Others have been excellent, but not updated in months You know who you are….

So what research-related blogs do you read?

[Hey, are you located in Massachusetts? I am hosting a seminar in Burlington on 12/8 for people interested in learning about online questionnaire design: http://researchrockstarclass.eventbrite.com/]

Want to help plan Research Rockstar’s next online class topic? If so, please take this little one-question poll. Hey, I have to practice what I preach, don’t I?

BTW, this is a free poll from Vorbeo. Cool site, amazingly simple tool.

[I welcome any and all comments! Every 2 weeks I randomly select a commenter to win a Rockstar Mug: PIC. Next drawing is 10/23.]

I hate bar charts.

Well, maybe “hate” is kinda strong. But you know what I mean.

A market research report that consists of 100 bar charts and pie charts is boring. And while I’d love to think market research has some socially beneficial aspects, curing insomnia is not what I have in mind.

Often, people get stuck in a rut. You get used to asking questions a certain way, you get comfortable with particular scales, and you develop styles—even templates—for reporting research results.

If your audience is falling asleep, or you are just looking for a more compelling way to convey a study’s “so what” results—consider shaking up your visual displays.

Michael Lieberman (@StatMaven for you Twitter folks) and I were talking about the issue of compelling visual displays a few months ago. He and I decided that between the two of us, we could put together some practical, real-world visual displays for market research reporting. Displays that intuitively convey complex ideas. Displays that showcase research actionability. Displays that simply make looking at data a little more interesting.

Thus we created the free eBook, “Marketing Research Insights: 22 Visual Displays.” Available on Scribd (LINK), the book is divided into sections such as Research process, Customer satisfaction, Competitive analysis, Win/Loss research, Brand awareness and more. Each display is accompanied by a very brief description of how it can be used.

Now for all of you Tufte fans: Tufte is great. Gorgeous books. Inspiring concepts. But not all that relevant to most market research projects (oh, the hate mail I will get!). Sorry, but it’s true.

If you have any questions or comments about the eBook, please leave them here, or email us: KKorostoff@ResearchRockstar.com or Michael@MVSolution.com.

Tip: if you have not read an eBook on Scribd before, I recommend you use the “book” view option. Once in Scribd, in the lower left corner of your window, you will see the words “view mode.”  I suggest you select “book” from the dropdown list. For me, it makes for easier online reading.

As you can see, the web-site updates are complete! What do you think of the new look and new features? Please give me your feedback here, by phone or by email.

For those of you who buy Research Rockstar classes, the biggest news is that I have simplified the process of buying and watching them. Now, access to classes is based on memberships. Four membership levels are offered, starting with Free. Yes, Free. The higher the membership level, the more stuff you get.

As a Rockstar member, you get access to a members-only page where you will see various courses, eBooks, and templates listed. Just click to view a class (no more downloading huge files!). Or, click to download a PDF (for eBooks and templates). And view classes as many times as you wish.  New classes are added monthly, sometimes even weekly, so check your membership page periodically.

I want to thank the team at Men with Pens for making the updated site look so great.  You guys rock!

If you have been planning a research project involving customer interviews lately, you may have found yourself debating: should I hire an outside market research agency, or use in-house resources?

It’s a debate I hear a lot lately. Even clients who have hired research agencies to do interviews in the past are now considering the in-house option.

And the reasons aren’t just money-related (though that is a factor).  Two additional reasons for choosing the in-house approach include:

1.    The desire for near-real-time feedback.
2.    The need to create direct learning opportunities.

When handling customer interview projects (or IDI projects, if you prefer) in-house, you do get the benefit of fast feedback. The folks making the calls may be right down the hall from you, and it’s easy to pop in and ask for updates.  As issues come up, you and the interviewers can choose to modify screening criteria, update the interview guide, or escalate discoveries—and do so very quickly.

And the learning opportunity for those folks actually conducting interviews? It is fantastic. And that’s true whether the interviews will be conducted by executives, middle managers or other staff. There is nothing like talking to even just 5 or 10 actual customers one-on-one to create deep, impactful insights.  More often than not, after people conduct their first customer interviews, I hear them say things like, “I never knew our customers thought that!”

Risks Ahead

Yes, the benefits of doing interview projects in-house are huge. But so are the risks.

The biggest risk: alienating clients. Folks who have not been trained to do customer interviews may have trouble asking questions—and listening to responses—in a purely objective way. Clients get annoyed if they feel they have been nice enough to cooperate with the research request only to feel manipulated or misunderstood by a company representative.

Another big risk: underestimating the amount of work involved. If you have never done in-house interviews before, you may not realize how much time it takes. You may need to write a screener. And then there’s an interview guide itself to create. Then recruiting and scheduling the interviews. Don’t forget arranging for recording and possibly transcribing. And how about reading and synthesizing the results in a way that can be shared? It really does take a lot of time and skill.  I have seen clients embark on these projects, confident that they can do them, only to have the project turn into a never-ending-nightmare because the staff involved simply could not take enough time away for their primary responsibilities to make it happen in a time-efficient manner.

So just be sure to consider the alternatives. There are market research agencies and freelancers that can handle customer interview projects very well—and have the skills and resources to do them professionally.

Be Honest with Yourself

So if you’re thinking about having non-researchers help out with customer interviews, it is certainly viable. And has some real benefits. But watch out for those common roadblocks, or the money you save on an outside agency could end up being more than risked with customer fallout and excessive staff time.

[Interested in learning more tips to manage in-house interviewers? Interested in training non-researchers to conduct research interviews? Check out Research Rockstar's latest online tutorials:   Training Volunteer Interviewers (Free!) and  Conducting Research Interviews: 12 Tips for Stress-Free Interviewing ]

In your organization, do you have a growing number of non-market researchers doing market research? You know what I mean: people using free or low-cost tools like Survey Monkey, Zoomerang and Wufoo to collect data without the sanctioning of the research department? Or those gathering customer insights from Twitter, Facebook, or their own personal blogs?

You are not alone.

It’s rampant. And the genie is out of the bottle.

Of course, if it gets out of hand, we have to be concerned about:

• Annoying customers too many research requests. Especially those that may be redundant.
• Inconsistent standards, such that data from different efforts cannot be compared.
• Poor questionnaire design, leading to misleading data, or worse data.

You get the drift.

So what to do? Try to stop it? I don’t think so.

Look, you now have a volunteer army of market researchers (even if they don’t know it). They are data collectors, insight mavens and customer listeners. GREAT!

Yeah, I know the familiar arguments: “…it takes training,” or, as someone tweeted to me recently, “…just because you could pull out your own tooth doesn’t mean you should.” Uh huh.

Look, I know it’s uncomfortable. We market researchers take a lot of pride in our skills, discipline and experience. But the genie is out of the bottle, and it isn’t going back in.

So we have a choice:
1.    Deny, complain, prohibit. (good luck with that)
2.    Find a way to leverage the trend in a sensible way.

So we should let it run rampant?

Does this mean we should sanction all DIY customer surveys? Encourage sharing of all market insights gathered from social networking sites?

No, of course not.

• We still have to make sure our valued customers are not over-surveyed, or subjected to bad questionnaire designs.
• We must make sure research is coordinated (no redundant studies, please).
• We have to help people understand what results are anecdotal versus reliably conclusive.
• We must make sure confidential information is protected (training people on what information is confidential and should not be shared or even hinted at on social media forums, etc).
• We need to make sure suitable data is shared, and shared appropriately.

And that’s where training and policies come into play.  With a little planning and common sense, success is absolutely feasible.

Embrace the Chaos!

[Research Rockstar now offers a one-hour online course to help you turn unsanctioned market research into useful insights.  Check out, "Leading Your Volunteer Army: Turning Unsanctioned Research into Market Insight Gold." Or email info@ResearchRockstar.com]

You’ve just spent weeks, maybe months, executing a great primary market research project. You created a final report that just sings (insert angel chorus sounds here). It’s full of insights and fresh perspectives that could save or make real money for your organization.

Any nobody is reading it.

Ouch.

Why not? Is the issue motivation? Is it just too hard for your audience to prioritize taking the time to read the report?

Or is it skill? Are they uncomfortable reading market research data? Or unsure how to tackle a report efficiently?

In my experience, a little training can go a long way in these situations. So I created a free tutorial, “10 Tips for Reading Market Research Reports.” A 10 minute edition is on YouTube, and the full, 23 minute version can be downloaded as a Flash file from the Research Rockstar store. Did I mention that it is free?

Please send these links to any colleagues you have who may be dragging their feet. With these 10 tips, they’ll learn great tactics for reading a market research report so that they can get what they need from it,  easily and efficiently.

Link to YouTube edition.

Link to Flash version download.