Quality marketing research allows marketers to gather sensitive data to analyze and compare against quantitative and qualitative data to make informed marketing decisions before making attempts to promote any product or service to a target audience. Savvy marketers don't go into a marketing promotion blind and force feed and audience with services and products in hopes of possibly reaping a return on investment as a form of marketing instant gratification. They gather and analyze data as a means of knowing beforehand what they're getting themselves into. The following information below is a sample analysis how some marketers would gather qualitative and quantitative data in their quest to not only become better marketers, but specifically know what to promote at certain times in hopes of increasing ROI.
These fictional numbers are gathered from different people. Some names are automatically generated.
Joe likes buying Nike Jordans 4 times annually and wears a size 15. On average, he spends top retail price and falls in age range of 18-25 and prefers to shop online.
Lisa is a sneaker holic. She wears a size 7, waits until retail prices on brand name sneakers start to plunge, and has numerous credit cards. Lisa prefers shopping online where she doesn't have to waste gas nor stand in lines or look at people. She falls under the age group of 18-25.
Ronald shops online. He's 18-25 and wears a size 13 sneaker. His favorite are Adidas and. He has a PayPal account with a virtually unlimited line of credit. This is the type of customer you want to make life easier for. He has unlimited credit!
Anita is going on 55 years of age. Shes returning to the workforce and needs a pair of comfortable walking sneakers. She doesnt have much credit, but loves shopping online with her debit card. Her favorite sneaker is Reebok.
Katherine will be 77 years of age this March. She used to be a traditional shopper and now shops 100% online mostly through Amazon. Wears a size 10½ wide. Like Anita, she too needs a pair of comfortable walking sneakers. No particular brand. Good credit and loves to spend.
Dennis is 54 years old and soon to be a retired software engineer. He allegedly wears a size 14 and just inherited over 1 million from his parents. He allegedly likes Timberland boots, Michael Jordan sneakers, and new balance running sneakers. Shopping online only is his total preference.
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Timothy is 50 years of age and allegedly wears a size 11½ sneaker. His favorite is Nike Cortez and other Nike sneakers not including Jordans. He has between 6 to 8 children, most of which he's still financially supporting. He has a good job working at an oil plant and loves to shop online.
Susan is a secret millionaire with a shoe size of seven. Shes nearly 60 years of age, unmarried, no children, and loves to shop until she drops. Shes always bragging about going to the gym and eating healthy food. That means she loves to spend money. Loves Nike sneakers.
Anisha is a 38-year-old working mother of three children whose steadily on her feet and on the go. She needs not only a comfortable walking shoe with extra padding, but also needs a wide sneaker. Her shoe size is 9½. Shes always tired from working & picking up the kids and prefers going online to make her purchases.
William is a 35 year old marathon runner from Denver, Colorado. He prides himself upon eating right, keeping his body healthy, running marathons often, and being an inspiring example of health and fitness to his peers. He wears a size 12 sneaker and notices one of his feet are starting to develop a small bunion. He doesnt have a particular brand sneaker he likes, but prefers shopping online to save money and time and need a wider running shoe.
'Hypothesis Made from Collected Data'
Savvy marketers can develop niche based footwear websites with a mixture of sneaker, who, and shoes specifically catering to multiple age groups. For example, marketers can specifically target users aged 18-25 to a section of the website where famous brand-name sneakers are available for purchase. And if people within that age group purchase sneakers within a certain time frame, they're eligible to receive an extra 10% off their purchase plus free shipping which is not advertised in regular stores. This is a way marketers can get one step ahead of regular retail stores in winning more sales and making life easier for their target demographic audience.
Other information gathered from the results above was targeting another part of the website to market walking shoes, boots, and sneakers to seasoned individuals. Seasoned individuals meaning the older people.
Smart marketers can not only gain leverage over their competition by offering free shipping on every purchase made on the website, but also make wider size shoes available for all age groups and offer at random times 10 to 20% off all purchases. This is a great way to not only encourage repeat business, but increase organic web traffic and get free advertising from site viewers and customers by promoting shoes, boots, and sneakers on their favorite social networks.
The end result is the savvy website shoe marketer becoming an online millionaire in a shorter time span by selling online to the masses and spending less money on paid advertising while delivering satisfaction to their target clientele base.
This sample data analysis hopefully gave amateur marketers some valuable insight how to gather data and analyze information to make an educated hypothesis toward successfully executing their promotion of products and services to any target audience. Holidays such as Black Friday, Presidents Day, Good Friday, Etc all require marketers to gather different types of data to understand the audience they're trying to target at the time.
Doing so keeps marketers one step ahead of their niche competition and helps them add value to the target audience they strive to serve.