Many Market Research Professionals are "Unsocial" and Apply the "Wrong" Metrics
Less than half of all market research professionals measure the impact of social media -- with the majority relying upon incomplete metrics to quantify the impact of internet marketing programs.
Stamford, CT, March 24, 2011 --(PR.com)-- Despite being used by more than half a billion individuals worldwide, the 2011 Annual Survey of Market Research Professionals reveals that only 46% of market research professionals have been asked to measure any social networks in the past 12 months. The social networks of greatest research focus include:
Facebook: 41%
Twitter: 28%
LinkedIn: 22%
MySpace: 7%
Friendster: 3%
Orkut: 3%
Other: 3%
Classmates: 2%
None: 54%
"Given the potential for social networks to influence and drive purchases, it is surprising more market researchers and their clients have not attempted to quantify the impact of this large and growing channel," said Mike Carroll, Director of Sales and Marketing for MarketResearchCareers. "Beyond the obvious revenue impact, social networks offer new approaches to garner consumer insights that can reduce the reliance upon traditional research methods -- particularly online surveys given their declining cooperation and completion rates," said Carroll.
These implications are reinforced in a recent Advertising Age article whereby Joan Lewis, Global Consumer and Market Knowledge Officer of P&G, called for "methodology agnostic" research solutions -- including the harnessing of insights gained from social media.
The report also reveals the majority of market research professionals use "traditional" online advertising and server-based metrics to evaluate the effectiveness of internet marketing programs, including:
Click Through Rate: 53%
Web Server Statistics: 43%
Changes in Awareness: 41%
Changes in Purchase Intent: 33%
Return on Investment (ROI): 32%
Changes in Engagement Levels: 29%
Sales Conversion Rate: 28%
Inbound Inquiry Rate: 21%
Other 12%
"Researchers need to shift from 'fact to impact'-based metrics to more effectively quantify the performance of any online marketing initiative for their clients," said Lee Smith, President and CEO of Persuasive Brands. "Measuring incremental sales, changes in brand equity, and heightened awareness levels provides a more complete assessment of a campaign’s performance. Researchers who do not go beyond click through rates are providing a disservice to their brands and customers," said Smith.
The survey was conducted between January 5 and January 23, 2011 with 550 market research professionals completing the survey -- providing a data tolerance of +/- 4.2%.
For more information about the report, please visit: http://www.marketresearchcareers.com/2011
About MarketResearchCareers
MarketResearchCareers is the career website with the most comprehensive database of resumes and jobs focusing exclusively on the Market Research industry.
Visited monthly by nearly half of all market research professionals in the United States and possessing the resumes of more than 40,000 market researchers, MarketResearchCareers is your market research staffing headquarters. See why so many corporate hiring managers, human resource professionals, market research suppliers, and thousands of skilled researchers turn to MarketResearchCareers to fill their market research jobs.
Visit us on the web at http://www.marketresearchcareers.com/ or call us at 1-800-872-5401.
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Facebook: 41%
Twitter: 28%
LinkedIn: 22%
MySpace: 7%
Friendster: 3%
Orkut: 3%
Other: 3%
Classmates: 2%
None: 54%
"Given the potential for social networks to influence and drive purchases, it is surprising more market researchers and their clients have not attempted to quantify the impact of this large and growing channel," said Mike Carroll, Director of Sales and Marketing for MarketResearchCareers. "Beyond the obvious revenue impact, social networks offer new approaches to garner consumer insights that can reduce the reliance upon traditional research methods -- particularly online surveys given their declining cooperation and completion rates," said Carroll.
These implications are reinforced in a recent Advertising Age article whereby Joan Lewis, Global Consumer and Market Knowledge Officer of P&G, called for "methodology agnostic" research solutions -- including the harnessing of insights gained from social media.
The report also reveals the majority of market research professionals use "traditional" online advertising and server-based metrics to evaluate the effectiveness of internet marketing programs, including:
Click Through Rate: 53%
Web Server Statistics: 43%
Changes in Awareness: 41%
Changes in Purchase Intent: 33%
Return on Investment (ROI): 32%
Changes in Engagement Levels: 29%
Sales Conversion Rate: 28%
Inbound Inquiry Rate: 21%
Other 12%
"Researchers need to shift from 'fact to impact'-based metrics to more effectively quantify the performance of any online marketing initiative for their clients," said Lee Smith, President and CEO of Persuasive Brands. "Measuring incremental sales, changes in brand equity, and heightened awareness levels provides a more complete assessment of a campaign’s performance. Researchers who do not go beyond click through rates are providing a disservice to their brands and customers," said Smith.
The survey was conducted between January 5 and January 23, 2011 with 550 market research professionals completing the survey -- providing a data tolerance of +/- 4.2%.
For more information about the report, please visit: http://www.marketresearchcareers.com/2011
About MarketResearchCareers
MarketResearchCareers is the career website with the most comprehensive database of resumes and jobs focusing exclusively on the Market Research industry.
Visited monthly by nearly half of all market research professionals in the United States and possessing the resumes of more than 40,000 market researchers, MarketResearchCareers is your market research staffing headquarters. See why so many corporate hiring managers, human resource professionals, market research suppliers, and thousands of skilled researchers turn to MarketResearchCareers to fill their market research jobs.
Visit us on the web at http://www.marketresearchcareers.com/ or call us at 1-800-872-5401.
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Mike Carroll
800-872-5401
www.marketresearchcareers.com
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