Understanding the difference between qualitative and quantitative research as well as mixed method research will help marketers and researchers to distinguish which options are available. Knowing the purpose is of different methods will lead to better research choices.
- [Voiceover] Now we're going to learn about two broad types of online research. Before we get started, try to imagine what exactly it is that you want to know about a product, the company, or a competitor. This will then enable you to decide which type of research would be best to use. Now let's look at the two types of research. Firstly, there is quantitative research. Here we will measure data and statistics which will reveal a numerical value. For example, how many visitors, how many web pages, or how many monthly web searches.
Secondly, there is qualitative research. Here we do not seek to understand how many, but rather why and how. For example, consumer reviews can tell us why people favor a certain product over another, or how they arrived at a decision to buy the preferred product. It is useful for a digital marketer to know about both qualitative and quantitative research methods. Let's imagine the finance manager would like to understand how much it would cost to generate demand through advertising.
Then we would use quantitative research to find out how many consumers searched for a product, and how much Google charges for the relevant advertising inventory. On the other hand let's imagine that the product development manager wants to know of ways to improve their next product release. Then we would use qualitative research to find out what consumers disliked about their existing product, what consumers loved about the competitors product, and any absent features the consumers might be asking for.
We can also use a combination of qualitative and quantitative research which is typically referred to as mixed method research.
Adriaan Brits consults with organizations all over the world at improving their market research practices. Here, he shares his knowledge with you. Using data from big (and free) online ecosystems such as Google, Facebook, and LinkedIn, Adriaan shows how you can measure consumer demand, trends, market competitiveness, and direct competition. He also introduces some premium toolsets used by professional marketers. By the end of the course, you'll have the skills to conduct your own independent research and investigate your customers and competitors online.
- Conducting quantitative and qualitative research
- Understanding the limitations of what you can research online
- Using Google AdWords, Facebook, and Amazon to measure demand
- Using LinkedIn and Google to measure competition
- Seeing marketing research in action
- Using free or premium tools to carry out online research
- Using Alexa, SEMrush, and SimilarWeb for in-depth research