Statistical Significance

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As marketers, when we’re conducting research surveys, we want to get the most information out of our data. In doing so, we need to make sure that the results are analyzed properly. Just by simply looking at the numbers won’t give us the in-depth analysis that we need to make the best marketing decision for our clients. So, we dig deeper, we run statistical test such as a T- Test to determine if there is an actual statistical significance. If the results of the T-test indicates that the p-value equals .05 or less, there is a significant difference. If the P value equals .051 or higher, then the results are not significant. For instance, after conducting a survey we received the following results: For question one (How many hours do you work per week) we want to compare the means from two subgroups (males and females). The results show that males work an average of 38 hours per week and females work 41 hours per week. Even though the numbers are different, is there an actually statistical difference? After conducting a T test, the p value = 0.25. Since the p value is higher than 0.5, there is not a significant

Emotional Storytelling

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Back in ancient times many people would tell stories about great adventures or tragedies that have happened in the past. Whether it’s through a play production, or through a grandparent talking to their grandchild right before bedtime. Storytelling has always been an artform. Today this artform has changed more visually but still hold on to its basic values as its ancient counterparts. Today’s marketers use different platforms to create storytelling advertisements for a particular product. Marketers want to build that close relationship with their target audience. Consumers want to feel that emotional connection with characters with in the ad. Let’s take the McDonalds Donut Commercial (see above) for example. The dad in this commercial seem stressed out, annoyed, and just ready to get the day over with. The older gentlemen in the car ahead sees and feels his pain so he purchases donuts for them. For a consumer they also feel the dad’s pain and wishes him good luck with the day ahead. The consumers can also see this commercial as an act of kindness.    

“The most powerful person in the world is the storyteller. The storyteller. The storyteller sets the vision, values, and agenda of an entire generation that is to come.” – Steve Jobs

It’s Time To Clean That Dirty Data

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As marketing leaders, we would need to know how to analyze clean data. After conducting a marketing survey, you now have all the information you need to analyze your data to make a better marketing decision. Before you can start analyzing your data you need to make sure you have clean and usable data. There are a few things to look for when cleaning your data. First, make sure the data you have is complete. You shouldn’t have any missing or blank spaces for data inputs these should be eliminated from our data analysis. Another example is looking at how long it takes for each participant to complete the survey. If from start to finish a survey participant takes 1 minute to complete a 10-minute survey, then they did not fully read the questions nor completely answered them honestly. Another extreme is when that participant takes 4 hours to complete a survey. Those examples should be eliminated from your data analysis so that you can make a more accurate decision. Understanding how to clean data is extremely important to effectively conduct data analysis. Dirty data coming in means dirty results coming out.

Market Towards Teens

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As part of the millennial generation I remember the huge shift towards the use of technology. I had the Windows 95 desktop computer, using the Yahoo or AOL search engines, and communicating online through MSN Messenger. I also remember when cellphones first hit the scene. I remember the old Clunky Nokia brick phone that seemed to be indestructible. Today our younger generation has way more advanced technology at their fingertips. Children at the age 12 or 13 already have smartphones, usually using them to view videos, or follow their favorite social media influencer. Some children even have access to purchase items through their mobile device. Marketers need to utilize this information as an advantage to target teenagers. For instance, you’re marketing a video game product in which your target audience is teenagers. A great marketing campaign would be using mobile friendly websites, along with partnering with well-known social media influencers to target that audience. Today’s advances in technology along with the high usage of these devices is great way to market towards teens.

Marketing Surveys or Marketing Experiments

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When we conduct research, we want to be able to choose the right path to get us the answers we need. There are two type of research tools you can use to gather information, a survey or an experiment. A marketing research survey is usually conducted by participants answering questions about a certain product or service. An experiment on the other hand is usually used to understand a consumer’s behavior.  When conducting these experiments usually the administrator would study the everyday behavioral patterns of their potential target audience. If you need to figure out which research method is better for your research objective, the key is to find out whether your trying to find out a behavioral pattern or ask questions about a particular product. When it comes to the cosmetics industry for example, conducting a marketing research survey would help when you want to find out what properties in cosmetics are most important. An experiment would usually be once the target market walks into a store where do they usually walk towards first.

Mobile Friendly

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As marketers, we have learned that in order to run a successful marketing campaign we need to target our audience. We have also learned that with the correct research we can be more effective with our marketing campaign.  

Now we need to know what device is more effective when it comes to marketing towards your target audience. Cell phones are the best devices used for marketing. Everyone has a cell phone, there are 5 billion active mobile users around the world. In the United States, 100 percent of people from 18-29 have cellphones. With this information alone you should see that utilizing mobile devices for marketing will have a higher and better response than any other means. Mobile devices are with our target audience all the time. So, we must make sure that our advertisement, website, or application is mobile friendly.

Qualitative Vs Quantitative Research

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Every marketer knows that to get accurate results for a marketing campaign you need to do your research. Having the correct research will allow you to conduct a more effective campaign. Utilizing surveys will help you get the answers you need to better market towards your target audience.  Now the question becomes, what type of survey research should you conduct? There’re two types of research that were going to focus on, qualitative and quantitative. Qualitative research usually asks open ended questions in which the survey participant types in their responses freely. Quantitative research normally has multiple choice survey questions.  A marketer will construct a qualitative survey to gain a deeper understanding of consumer behavior. Why do they do certain things? Or Why did they think that way? Quantitative surveys on the other hand is used to quantify data and generalize results from a sample of a population. This is a more statistical approach to getting the answers you need. Before you decide on what type of survey you want to conduct, just think about the survey objective and how a either a qualitative or quantitative response will better answer that objective.