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The
internet is rapidly transforming marketing research.
The Institute for Marketing Research recently
reported estimated online marketing research revenues of
$283 million in 2000, an annual growth rate of 132%. This
compares to the total estimated research revenues of
$5.4 billion in 2000, a growth rate of 8 – 10%
over 1999. Industry
experts are projecting that online research will exceed
$1 billion by 2003. With over 50% of American households
and most businesses online, the benefits of developing
and utilizing the web among your research techniques
have never been greater.
For
certain objectives, online research should offer savings
in time and money due to the potential for faster survey
design, data collection, processing, and analysis.
Other potential benefits include real time result
reporting, greater consumer acceptance than telephone
surveys and improved targeting due to the segmentation
potential of the web.
Many
vendors have recognized this market change and have
begun to develop online panels, survey tools and other
creative research techniques.
Among these suppliers are:
Online
marketplaces to match buyers and sellers of research
services are springing up.
Buyers can submit requests for proposal that are
communicated to a pool of research providers.
Two of the latest entrants are:
If
you’re interested in learning more about available
resources for marketing research and competitive
intelligence two of the leading associations are:
Reprinted
from the October 2000 Madison Ad Fed Newsletter
See other marketing
intelligence resources
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