Episode 244

The Value of Market Research

With Matt Seltzer

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Matt Seltzer is the owner of S2 Research, which is a market research and strategy partner for ad agencies and marketing teams. Matt spent four years as the Senior Research Analyst for the What Happens in Vegas campaign. Today, he partners with agencies to deliver surveys, focus groups, and overall insights when their clients need it.

Episode highlights:

  • When to consider focus groups
  • Reaching insights from a small audience
  • Common mistakes people make with focus groups
  • Types of people to choose for focus groups
  • Segmentation of your audience
  • Dos and don’ts for using surveys for market research
  • The value of market research
  • When survey results become useful
  • Best advice: Everything you do in life, make sure the juice is worth the squeeze.
  • Habit that contributes to success: Not letting stuff sit.
  • Recommended tool: Hunter, QuestionPro, SurveyMonkey 
  • Recommended book: This is Marketing by Seth Godin
  • Run time: 30:38

Links:

Quotes:

  • “You want to sit down with the real people you want to sell this product or brand to and ask them the questions about what they’re looking for in a brand…we are trying to tap into our audience and what makes them tick and then translating it back into such a way that a creative director can turn it into a logo or brand design.”
  • “If you’re looking for data, don’t have a focus group because it’s not measurable. By the context of what we’re doing, we’re asking people open-ended questions and if your goal is to bring a statistic to the table, that 70% of the audience thinks this way, you’re not going to do that from that methodology.”
  • “I cannot be a talker in a focus group, it is their job to talk…when we do talk, it’s about getting more out of people.”
  • “The value of a survey, the value of any kind of research, is to make sure that next step where we come up with the ideas is laser-focused and it’s not throwing spaghetti at the wall…if we come up with an idea we know it’s based on sound thinking behind what we know the audience actually want.”
  • “400 is a phenomenal, statistically sound number of responses to get for a survey.”

Takeaways:

  • Agencies leave money on the table and are undeserving their clients when they don’t offer research. The work always gets better when research is included.
  • Campaign research gives you insights into strategy and content for your digital strategies. 

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