In Episode #358, Eric and Neil discuss whether a focus group is still worth the investment for market research. Tune in to learn more about focus groups and how technology has played a major role in how we conduct market research today!
Time Stamped Show Notes:
- 00:27 – Today’s topic: Are Focus Groups Still Worth the Investment for Market Research?
- 00:38 – A focus group is when a group of people that are your ideal customers come to discuss a certain product that you may be launching
- 00:56 – Neil did a focus group that was paid by Yahoo
- 01:09 – The people discussed Yahoo and its competitors
- 01:50 – Focus groups were very effective before, but it won’t be as effective now
- 01:58 – Technology has changed the face of market research, people can find their answers online and surveys to collect information are done online as well
- 02:32 – Eric doesn’t see the need for an in-person focus group
- 03:02 – Mileage may still vary
- 03:12 – Marketing School is giving away a free 1 year subscription to Olark which is a live chat software tool
- 03:24 – Subscribe, rate and review Marketing School
- 03:30 – Text MARKETINGSCHOOL to 33444 for those in the US
- 03:26 – That’s it for today’s episode!
3 Key Points:
- A focus group is a group of your ideal customers who meet you in person to discuss a product.
- Focus groups were effective for market research before mass improvements were made in technology.
- If your targeted customers are seniors, focus groups might still work as they prefer face-to-face surveys and conversations.
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