Audience Analytics Surveys

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Audience Analytics Survey

Audience Analytics Survey empowers brands to gain a deeper understanding of their current and potential customers to improve their marketing strategy. Also, customer feedback is imperative on subjective brand related strategies. This enables a company to understand how to create more successful marketing and advertising campaigns.

Audience Analytics Surveys help you know:

  • Who is your Target Audience?
  • What kind of messaging and content should you use for specific groups?
  • What type of campaign will generate the most engagement with the audience?

Audience Analysis can be branded or unbranded. Branded analysis specifies and details the audience for a specific brand (Handset Category - Samsung, Nokia, etc.), while unbranded analysis covers audience using staple electronic type of product and related topics (computers, tablets, technology, etc.).

For businesses, the best audience analytics gives a deeper understanding of what compels consumers to support a brand or to make a purchase. While apprehending the basic demographics of an audience is helpful, it isn’t as powerful as understanding the complexities of consumer preferences related to a brand and product.

Four Research Methods for Audience Analysis

Ideally, before launching a campaign or strategy, assessment of the target audience is essential to make sure that all statistics provided are appropriate and at the correct level.

The audience, also referred to as the end-user, will be the beneficiary of any items produced and shared, so it is imperative to make sure that all targeted communications oscillate towards that group. To attain this goal, many communication professionals wield research methods for audience analysis.

A.Focus Groups

One of the most common methods of qualitative research is hosting a focus group.

Focus group is a widely used tool for gaining feedback regarding new products as well as various other subjective decisions such as packaging. Focus groups are usually used in the early stages of product or concept development, when organizations are trying to create an overall direction for the marketing initiative.

Focus groups allow companies seeking to develop, package, name, or test market a new product, to discuss, view, and/or test the new product before the launch of the product to the public. This can provide immeasurable information about the potential market acceptance of the product.

Methodology

It is a discussion conducted by the moderator with the help of interview guidelines referred to as ‘Discussion Guide’. The survey is usually carried out across multiple attribute groups of 8 to 10 persons selected in accordance with the research aims. The optimal time span of a group discussion is 1.5 - 2 hours. However, upon customer's requirements, both brief (up to 60 minutes) and extended (up to 4 hours) focus group discussions are organized. The warm atmosphere created during an interview and vitalized by the moderator allows disclosing participants' habits, judgements, opinions, preferences, tastes, alliances, etc. Consequently, the focus group discussion reveals mental maps, stream of consciousness and untapped demands.

Quantitative parameters are excluded for focus group discussion results: sample size is not required, and the error of the results is not estimated. The subjectivity of the content, particularity and interpretation are most important.

The groups are indicative of population’s preferences that are clubbed to map the reciprocation of universe of different kinds.

B.In-Depth Interview

It is the data collection method, involving one-on-one interview of the respondent by the moderator on the basis of a certain agenda on a topic. It is a sizable and deep conversation that approximately takes 1-2 hours.

During the in-depth interview, respondent’s attitude, evaluations, beliefs, preferences, enjoyments, associations, etc., are discovered. This interview gives the opportunity to delve into the mentation, stream of consciousness, and hidden needs or to find the innovative solutions for the problems. This method is usually applied to the product, packaging, advertising, customer satisfaction and expectation research, in addition to the experts’ interviews.

TechSci in-depth interview takes place both in the natural environment such as respondent’s home or in the special studio with recording and observing devices. The interview is being recorded, and at the same time the client can watch the emotions and reactions of the respondent through the one-side mirror.

How is interview data used?

Typed transcripts are the most utilized form of interview data. During the analysis of data stage, after data collection, transcripts are coded according to participant responses to each question and/or to the most salient themes developing across the set of interviews. While data is still being collected, researchers use expanded interview notes.

C. Central Location Test

Central Location Test (CLT) is a tool for product marketing tests conducted in controlled environments, different from home-user tests, which take place where the products would be used.

Under this test, research is organized in a location such as a shopping mall or a place of public gathering. In this case, respondents would be recruited to participate in the live event for trial of a product at the mall and the research would be conducted and completed at that time.

CLT is measured as the most suitable technique for testing concepts, products, packaging, advertising effectiveness and conducting sensory research.

Central Location Test offers several key advantages vs. other approaches, such as home-user tests to researchers. Some of them are:

  • Since the environment is controlled, researcher can eliminate bias. For example, all participants can be shown a series of products in the same order, packaging, etc.
  • Researchers can obtain candid “raw” feedback based not just on what participants say, but also by what they do not say, and what their body language conveys.
  • Researchers can dig deeper by asking follow-up questions to participants based on their reactions and responses.
  • Researchers can test intangible concepts instead of, or alongside, tangible products/goods, such as advertising messages, sensory impressions and opinions (e.g. how participants perceive scents, etc.).
  • Booking a suitable location (e.g. room in a shopping mall) is typically affordable in most cities, and researchers have the opportunity to interview and engage a large number of participants in a short period of time.

The following questions must all be taken into consideration when planning such research:

  • Which method of conducting the test should be used?
  • What location should be selected for the test?
  • What criteria should be considered in selection of respondents?
  • How should the respondents be recruited?
  • How can respondents be persuaded to take part in the test?
  • What criteria should be considered in selection of respondents?
  • How should the respondents be recruited?
  • How can respondents be persuaded to take part in the test?
  • How can the appropriate level of control be assured during the test?
  • How can the test be scheduled effectively?

D.Price Sensitivity Banana Study

Price Sensitivity is defined as the degree to which consumers’ decisions are affected by the price of the product or service. Price sensitivity is also known as price elasticity of demand, which helps measure the extent to which sale of a product or service is affected. The extent of price sensitivity varies depending on various products and consumers.

Homogenous goods are extensively available and are prone to show evidence of price sensitivity.

BREAKING DOWN 'Price Sensitivity'

The price sensitivity of a product refers to the level of importance consumers place on price relative to other purchasing criteria. For example, a needy customer seeks good quality products and is different from those who like to bargain.

The Price Sensitivity Banana (PSM) is suitable to determine the cost bracket of any new products and services. PSM can be used in initial stages of product development, to unveil the price thresholds and to check potential buyers in the targeted price segment.

The objective of the PSM is to limit the acceptable price range as well as identifying an optimum price.

Top questions are as follows (general), for any specific product:

  • At what price would you think a product is too expensive to consider?
  • At what price would you think a product is so inexpensive that you would question the quality and not consider it?
  • At what price would you think a product is getting expensive, but you still might consider it?
  • At what price would you think a product is a bargain – a great buy for the money?

On the basis of the resulting intersecting points, four price points can be determined:

  • Optimum price: It is the price where consumer’s resistance to purchase is lowest
  • Indifferent price: The difference between the current price and the optimum price is inversely proportional to the customer’s price sensitivity.
  • Lower price limit: Minimum price to be benchmarked to achieve breakeven
  • Price upper limit: The price limit beyond which the product will be perceived as expensive

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