T-Test After Your Market Research

pexels-startup-stock-photos-212286.jpg After completing market research, there’s usually a lot of data points to analyze. A t-test purpose is comparing two major groups from a single survey question. A t-test will let you determine the significance of the variable points and analyze what’s worth measuring in the future. 

T-Test Explained on Excel 

Grab all the data from the two variable groups you’ll be using in the test. Separate each into new sheet columns on excel. Organize them by gathering the raw data and categorizing them survey answers and questions. Once you have them organized, you can insert them into a new column organized by the categories responses so for example, male and female and then what’s being organized like age. Have a column for each of the options in the questions. 

Then create a new set of columns to organize the averages using excels formula. It’s so much easier than by hand and a time saver! That’s an extra point of reference to analyze the results. Next is finding the p-value, which is the level of statistical significance. A p-value of less than 0.05 is statistically significant and a p-value of higher than 0.05 is not statistically significant. According to Simply Psychology (Links to an external site.), “A statistically significant result cannot prove that a research hypothesis is correct (as this implies 100% certainty).” This is important in determining what hypothesis to accept and reject. To find the p-value, you’ll use the T-Test on excel, which can also be found under the function tab. After that, you’ll know your p-value and whether these results compared were significant or not. 

Marketers can really gain value and insights from this information. This will help you in future marketing research, determining what data points to test for.  

Read about how to determine whether you’re ready to conduct your research. 

How To Make Your Email Marketing Work

pexels-burst-374074 (1).jpg Email marketing is a great way to connect with your audience and promote your brand. Email marketing is growing and won’t stop anytime soon. 

It Works and Here’s Why

According to MailChimp’s article (Links to an external site.), “When you want to communicate something about your brand or sell your stuff, email marketing is one of the most cost-effective ways to do so. In fact, a 2015 study by the DMA found that for every $1 spent (Links to an external site.), email has an average $38 return on investment (ROI) (Links to an external site.). When shoppers are ready to buy something, they often look for emails from their favorite stores.”

There’s a huge ROI with email marketing, but how do you get that? 

  1. Personalize– Emails need to be personalized because it’s expected and we have the power to do it. Address people and converse with them as you would in person making a sale. Engage them to click on that call to action by personalizing the experience. 
  2. Segmentation– Emails need to be segmented because not everyone is on the same buyer’s journey. Segmenting your audience and sending them the right email is critical to achieving success. The more segmented, the more related it will be to them. It will catch their attention more and hopefully get them to click through. 
  3. Emotion- It’s not just about writing their name in the email… Tug at emotion and create that emotional connection. Try being lovable and likable by being authentic, show what’s great and even express what’s not now and then. Give them a bone and pull them in. The goal is to create sufficient emotion to be interested in it. 

Email marketing is a huge market, especially with everything being digital. Use all of these tactics to create more conversions in your funnel. Now that you know all of this. Apply all of it in your next email!

Read more about why personalization is important in marketing. 

Why You Need Personalization In Marketing

Customers nowadays are over simple marketing tactics; they want a personalized and tailored experience. The customer expects more than ever before and it’s up to the marketers to deliver. While you might hear that and wonder how to do that? In today’s world, there are a lot of technologies and resources available to make personalization possible. 

Artificial Intelligence is a Gamechanger 

Artificial Intelligence is a great way to make customizations easily. If you incorporate software like Trailblazer Salesforce, you’ll be able to customize a lot of your marketing. Nowadays, everything is about advancing and being ready for what’s next. AI will give that personal connection by allowing you to make target segments and audiences for each step in the buyer’s persona and grouping them for each one necessary.

From this, you can create: 

  • Email customization
  • Targeted ads 
  • Re-targeting efforts 

Application Example 

The more data, the more tailored your efforts can be. An example of this is Starbuck’s using their application to personalize their clients’ information through their data. They were able to personalize so much, including drinks, location and history. According to Global Web Index,  (Links to an external site.)

“The introduction of the rewards system saw Starbucks’ revenue soaring to $2.56 billion, while the app has generated around 6 million sales per month (around 22% of all U.S. sales).”  (Links to an external site.) As shown by this example, personalization is key to increasing sales. 

Make the Move 

Personalization in marketing is critical to increasing sales and getting more clients. The more you personalize, the greater the connection and sales will skyrocket. Consider adding personalizations to your next marketing moves. 

Read about how A/B testing can help gauge the audience better here. 

Are You Ready to Conduct Your Research?

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Step three in the marketing research process is to actually conduct the research. Remember that completing your research takes time and there might be some road bumps. That’s okay, it’s normal for that to happen but as long as it comes through. Here a few ways to know you’re ready,

Check Off the Following: 

– Defined the research objectives and gained stakeholder alignment

– Designed the right research project to meet the research objectives, including:

           Questionnaire development

           Sampling strategy and planning

           Survey planning and testing 

pexels-andrea-piacquadio-3760067.jpgAfter that, you’re ready for the next step to be in the field. Face to face contact and actually going into the industry’s and getting in touch with them. You’ll do this by. 

– Surveys 

– Focus Group 

– Conduct interviews 

You’re ready for the next step! 

Read about how selective with your surveys is critical in marketing.

How Being Selective with Your Surveys is Critical in Marketing

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Using survey research is an essential every marketer should be using. Survey research allows for a tailored application of questions to ask. A survey aims to give projectable results; this way, it gives real numbers and data to present to the team when addressing changes that need to be made and money that needs to be invested. 

Benefits of Survey Use

Surveys are necessary for several reasons. The surveys give important market data; that way, your company learns what’s working and what’s not. The survey is an analytical tool to measure sample decisions. It will reveal comparisons and complexities within the pool of surveyors. This way, you’re learning what people agree with and what others don’t. You’re getting to see several angles, which will give you a bigger picture and a better overall perception. Narrowing your questions to evaluate what you need to is important in getting the answers you want. 

Limit Your Survey Sample 

The survey will be more valuable when given to the right audience. Don’t just send your survey to anyone you know. Please send it to people that are customers and have experiences with your company and brand. If you’re trying to answer a particular topic, try to focus on sending it to people who know or have experienced the topic. Limiting your sample size will give you more curated results, which are best when making big decisions. 

pexels-pixabay-259006.jpgOverall, surveys are a great way to get good market research for the company. They are critical in giving insights and knowledge to make improvements and changes. Limiting your survey size is important to gather the best results for the right person. Surveys are great to get insights to better the company. 

Read about the Benefits of Qualitative and Quantitative Market Research. 

How A/B Testing Can Help Gauge Your Audience Better

In marketing, A/B testing is the procedure of distributing two versions of a marketing touchpoint, something like a website page or advertisement, simultaneously and then comparing which one does better and brings more conversions. A/B testing is a vital tool for marketers to test out their promotions and see what’s working and needs improvement. 

Possible Variations 

An A/B test aims to have a variation that will be tested to see what does better for your audience. Some variations can be in the headline, the audio, the video, visuals, call to action, layout, theme, and targets. To do it well, it’s best only to change one thing at a time. You can test multiple variations at a time, which is multivariate testing, making this more complex. 

Perform Tests 

Be as meticulous as you can. Perform tests on your tests if it’s possible. A/B tests are good but only provide so much since you’re usually only changing one variable. Try to keep going and testing when you can. If A/B tests aren’t always possible, think about surveys to offer and include so that people can share experiences and give suggestions. 

Keep Control Of Groups 

When performing the tests, try to keep everything besides your experimental variable under control. The more contained, the better the results will be—this way, their fewer variables to consider when getting the results. This makes the results more valuable because you know it’s not about other aspects; it’s about what was tested. Try to keep the test controls similar in subjects like geographical location, visuals, written text, etc. 

A/B is a great method for marketers to learn what their audience prefers and desires. Following all the steps is key to strengthening your tests; read about HubSpot’s A/B testing checklist  (Links to an external site.)to cover all your bases. A/B testing is an innovative way for marketers to constantly improve. 

Learn about planning for lead nurturing in email marketing (Links to an external site.) and how it will help grow your audience. 

The Power of Social Media Marketing and Where It’s Going

Social media is a critical tool for marketers in today’s world. It has become the most effective and valuable digital branding strategy for marketers. It allows for an extensive and endless reach, which is indispensable, especially in today’s world. These social media platforms are powerhouses and an excellent way to increase brand awareness and connect you directly to the customer. It is a fantastic way to reach your target audience in seconds for free and it’s not only a beneficial way to expand the grasp but also the costs. A company’s social media presence with quality tells the audience that the brand is active and has a reliable reputation. Great social media can help push a brand to the next level.

I reached out to five experts in various marketing and communication fields on social media’s importance and where it’s headed in the future. Here’s what they have to say.

Jaclyn Tanenbaum, Marketing Research Expert & Award-Winning Marketing Faculty at Florida International University

“The explosion of social media has changed the way brands and marketers compete for their target’s attention. More than ever before, firms can reach various audiences on various platforms and in a highly targeted and efficient manner. In turn, this efficiency helps the firm stretch its marketing dollars and flex its marketing muscles.”

Ana Castillo, Senior Project Manager at Safe Cruise Parking

“I think that social media marketing is the most powerful tool we have as marketers. The possibilities are endless. I think what makes these communication channels powerful is that there is room for everybody to grow. Additionally, over two billion users are on Facebook, and over one billion users use YouTube and Instagram. This gives brands/companies the ability to truly engage with their consumer and add an element of influence like never. Simply put, the possibilities are truly endless in social media marketing.”

Susana Trista Reyes, MS Project Manager at Sitel

“Social media marketing is key in today’s market. More and more brands are using social media to attract, retain, and reach. Purchase behaviors have changed tremendously. Social media has become an amazing hub, not only where the audience can learn more about a brand but where brands can establish stronger connections with the audience.”

Maria J. Medrano, Event Marketing at ESPN 

“Social media marketing has become such a powerful tool for all types of businesses. In terms of connecting with its audiences and creating a more personable approach through engagement and storytelling, social media has become more creative with its capability and trends that keep expanding as times continue. I’m very excited to see how the next generation of social media marketers take this platform and expand brands beyond the uniqueness we’ve already seen thus far.”

Stephanie Hernandez, Certified Digital Marketer

“I’ve been working in the professional marketing field for over five years and social media has always been a huge part of every agency and client that I’ve worked with. Social media has always been non-negotiable. Everyone wants it and that’s mostly because everyone knows they need it. Social media is just about the most powerful platform businesses have, next to their website and their email subscribers in today’s world. Social media has blown up in the last ten years. When I was entering college and some of my friends didn’t even know what Facebook was. Look at Facebook now! Dominating the world and with no intention of hitting the brakes. As social media has grown, it’s massively turned to videos as the best way to connect with an audience. People are more likely to watch a video than read your blog (sorry bloggers) or read your lengthy Instagram caption. Faster is better and that’s exactly where social media is headed. I believe social media will be more and more integrated with our other day-to-day platforms to create a seamless experience for all users. Young and old, people have seen the option to sign in with Facebook as a way to log-in to their accounts. Spotify, LinkedIn, YouTube, you name it! Social media is everywhere and it’s definitely not going anywhere any time soon. Dare I say ever!”

In this new digital age, social media is going to continue to grow. Companies can engage with their audience within seconds, which is something new. Brands collaborate with influencers to promote their products and have them establish a connection. In turn, this connection creates a relationship and sways purchase behaviors. This is a goal every brand tries to achieve and you can’t beat the price.

Social media is also a method of storytelling; there are more users, competition and creativity. The possibilities are endless and will continue to expand. At this point, most people around the world have social platforms and are using it daily. As someone who’s grown up with social media, it continues to get bigger and better. Social media is taking the world by storm and will become a huge way we interact with brands and businesses in the long haul.

 

Planning for Lead Nurturing in Email Marketing

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With email marketing, there is always a momentum to keep growing and improving. It would help if you always were thinking about your buyer’s journey and what can be improved. This will help increase numbers in your conversion funnels. A good tactic to think about for the future is lead nurturing. According to HubSpot Email Marketing Course (Links to an external site.), Lead Nurturing is the process of building relationships with prospects to earn their business when they’re ready. 

How it Works

In email marketing, you’re going to have a variety of customers in the buyer’s journey. Some will subscribe because there interested in the product, and others will be ready to purchase. You will have an assortment of people in different stages of their journey. You will want to anticipate the steps and create emails for all of the stages. This will help build the brand’s relationship and give them enough for when they’re ready. Treat them the way you want to be treated. Nurture your leads by gaining their trust and forming a relationship by sending the right emails at the right time. 

Personalize Your Emails 

If you’re sending the same mass email to every contact you have in your database, you’re doing it wrong. They will end up ignored or in a spam box. Write to your contact and make it personal. They signed up for your emails for a reason. Check that reason and build on that. If they signed up for more information, give them that and something to create conversion in the funnel. Personalize the emails using different buyer’s journies and segmentation. 

Segment Them 

While not everyone is the same, not every lead is the same. Segmentation is key in recognizing how to nurture your lead. Group your leads based on their wants and how they will respond to the content. According to HubSpot, to have a good segmentation strategy, remember to have a clean and organized database, collecting the right information, and get implicit and explicit data. This way, when you’re sending emails to your nurtured leads, you’re sending the right email at the right time because they’ve already been segmented. 

Read more about the benefits of Artificial Intelligence (Links to an external site.) and how it’s useful in email marketing. 

The Benefits of Qualitative and Quantitative Market Research

pexels-pixabay-265087.jpgWhen conducting marketing research, qualitative and quantitative questions are critical in having good and extensive data. The market research will need both types of data, qualitative and quantitative, to ensure good results. Now let’s examine how to use them both in your market research. 

Qualitative Research 

In qualitative research, it always entails the use of words. This is when you ask a question like why? This will you the person being questioned an open-ended way to respond. This method is mainly used for exploratory purposes. This will be where you’re trying to gather information early in your research and determine the next steps. You want to create discoveries and understand what they’re explaining. It’s valuable information in customer insights and journeys. It can offer ideas you’ve never thought of before so take the time to listen and recognize what they’re saying. This will be critical in making future decisions about the marketing of the brand and product. 

Quantitative Research 

In quantitative research, the questions always involve numbers and percents.  This is where you’re gathering insights on numerical data. This is valuable in knowing what’s working and what’s not. It will probably give you more insight than you’re aware of because you’re getting real-time data. Enough quantitative data can give you information on averages that are doing well or poorly. This can help when creating samplings and trying to understand questions like how many and which one?  Quantitative data is used for confirmatory purposes late in the decision phase. This can help with experimentation and fixing what’s not working.  In upcoming choices about the market, this will be the research you look back to, which is very important to use it correctly. 

Using both qualitative and quantitative types of research are imperative in market research.  Remember, qualitative is words, and quantitative are numbers. Both methods have many benefits in understanding what you need to make your brand the best it can be.