While we can still walk down our hometown roads and encounter many brick-and-mortar locations of our favorite stores, commerce continues to transition from a physical market to a virtual one. Consumers want access to a business that is quick, convenient, and remote, and entrepreneurs involved in consumer research know that. If you’re new to the marketing world, it’s imperative to enter the business world equipped with a knowledge of quantitative research design methods—that is, how to track what your customers like and don’t like—and why it’s best to conduct that research online. Here’s three reasons why you should be tracking consumer tendencies on the web.
1 People are shopping online.
a. While a brick-and-mortar business is only as big as the building that contains it, the globe is the limit for an online storefront. For this reason, companies that conduct marketing analysis on web-based commerce can understand the trends of both nearby customers and far-fetched clientele. You may be able to advertise differently to a rural Midwestern entity of online shoppers compared to an urban Eastern one; understanding these strategies and researching the growing population of online shoppers can earn your business some added profit.
2 You can observe how consumers are interacting with your competitors.
a. In a traditional marketplace, it may be difficult or odd to simply walk into a competitor’s business and observe their practices. You’d likely find that your competition may not be pleased with you meandering through their store, observing their goods, and interacting with their employees. However, the rules change for businesspeople who compete through the web. With the proper quantitative research design methods, you can study how your competitors are retaining loyal customers—and why those customers are loyal to them, not you. Is the competitor’s website easy to maneuver? Do they offer shipping insurance or quality guarantees? Can the website handle large quantities of simultaneous consumer traffic? Does the website offer multiple lingual translations to cater to international customers? Understanding why certain groups of consumers prefer interacting with one website over another can help a business owner to understand what can be changed about their own virtual storefront.
3 The results are quick and accurate.
a. Traditional means of collecting consumer data are highly inefficient in terms of response rate and accurate representation. Consumers are less and less inclined to respond to mail-in surveys, telemarketers, or in-store offers. Smart consumer behavior research experts offer eye-grabbing incentives to web-based markets: coupons for survey responses, free merchandise in exchange for consent to data tracking. In an age when most mail is junk mail and telemarketers are more familiar with the sound of a slamming telephone than a human voice, a business that studies consumers online will quickly surpass one that chooses outdated methods.
The customers of the world are demanding things faster, better, and more convenient—and they expect the businesses that serve them to keep up. Don’t fall behind with obsolete research practices that will agitate your consumers and even chase them away to your competitors; through online quantitative research design methods, your business will emerge as a leader in the unforgiving world of the online market.