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Marketing Research Transformation : From Old World to New

Marketing research has evolved a lot over the past couple of decades. Most great 21st-century businesses attribute a significant part of their success to extensive marketing campaigns that are in large part driven by marketing research. In most cases, however, these campaigns have been a trial and error process that costs businesses hundreds of thousands to millions of dollars.  While it is essential to divert a sizable portion of your company’s budget towards marketing, it is equally important to make sure this money is being spent effectively. Older marketing research mechanisms were more random and advice-based than any marketer would like them to be. But how exactly did these mechanisms function? Let's have a brief look.  Old World Marketing Research  Old world (early) marketing research mechanisms made use of primary market research. The said product/idea was tested among the general public in various ways to gather research data. This data was then condensed to form reports t

The New Quest to Measure Creative Effectiveness

  A great deal of concentration around the effectiveness of an ad is measured in things like how much attention and clicks it received, and what happened as a result of those clicks. But despite this methodology becoming the standard by which we measure ad effectiveness, the creative portion itself has been left in the dust.  When we talk about “measuring creatives”, a lot of attention goes into the effort it takes to produce it. How long did it take to craft the asset? What was the time spent in going from creative brief to the ultimate output?  If you asked a farmer selling oranges, “how long did it take to harvest them?” or “How much time passed from the point where the seeds were planted to where the orange trees began to grow?", he’d look at you like maybe you got hit too hard on the head with one of them. After all, none of those things have anything to do with why people buy oranges, and yet, no one is asking the real question -- how do they taste?  Creative Effectiveness