Market research’s role in identity resolution — Kumar Doshi // Lucid
- Part 1Understanding your consumers using research technology — Kumar Doshi // Lucid
- Part 2 Market research’s role in identity resolution — Kumar Doshi // Lucid
Show Notes
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01:48Understanding the market research roleMarket research as a role sometimes gets misunderstood. But market researchers are who provide pivotal information at every stage of the business.
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02:40The different types of market researchMarket research can be your typical focus group or taste test depending on what your product is. In the digital world, market research can be done through online surveys.
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03:45Market research and identity resolutionWith third-party cookies going out the door, we need other ways to find out about the target audience. This is where market researchers come in to ask the audience those questions.
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05:24Using survey data to figure out your customerIt all boils down to asking your customers the right questions. A single person can have diverse interests. So you dont want to make a single point of interest their whole identity.
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07:00Getting granular with survey dataDoing market research the right way involves asking questions directly. The more data points you have and the more direct questions you can ask, will help you better understand customers.
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10:14Understanding the role of surveysA survey is more than just about understanding your audience. Surveys can also be a lead source simply by asking questions.
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11:33Using surveys to targetStart by using the surveys to find out how people feel about your offer. And then you can target those who respond positively.
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13:04Integrating survey data into your CRMYou can do this through a regular online survey or you can use social ads. One you find people that check all the right boxes, feed that data into your CRM and start marketing to them directly.
Quotes
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"Market researchers are at the start of any new business idea… or even if the company's trying to understand something that they've done recently a little bit better." - Kumar Doshi, Sr VP of Marketing, Lucid
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"Identity as tier statements has become incredibly hard to do because of different laws because of what different companies are doing." - Kumar Doshi, Sr VP of Marketing, Lucid
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"If a marketer's job is to get the right message to the right person at the right time, they need to know who that person is and what they're interested in." - Kumar Doshi, Sr VP of Marketing, Lucid
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“I think people are tired of marketers assuming that marketers know who they are based on aggregate data…” - Kumar Doshi, Sr VP of Marketing, Lucid
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“The more data points and the more questions you're able to ask directly, the more clarity you can get...” - Kumar Doshi, Sr VP of Marketing, Lucid
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“The power to ask a question helps marketers resolve the identity of a person directly based on the input from the person themselves.” - Kumar Doshi, Sr VP of Marketing, Lucid
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“Lucid has a product called Impact Measurement, which allows us to actually understand during a campaign, the level of interest a certain demographic has in a specific offer or service.” - Kumar Doshi, Sr VP of Marketing, Lucid
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“Survey data can be used not only for gathering aggregate data, but also for understanding the specific desires, needs, and pain points of your potential customers.” - Benjamin Shapiro, Host, Martech podcast
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“Survey data can be used to then feed your direct response marketing.” - Benjamin Shapiro, Host, Martech podcast
- Part 1Understanding your consumers using research technology — Kumar Doshi // Lucid
- Part 2 Market research’s role in identity resolution — Kumar Doshi // Lucid
Up Next:
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Part 1Understanding your consumers using research technology — Kumar Doshi // Lucid
Senior VP of marketing at Lucid, Kumar Doshi, continues the conversation about the technology behind market research. Many times, people who want to answer your survey are not necessarily your customers. So to ensure data integrity, you need to be able to narrow down respondents. Today, Kumar discusses how you can understand your consumers using research technology.
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Part 2Market research’s role in identity resolution — Kumar Doshi // Lucid
Kumar Doshi, senior VP of marketing at Lucid, talks about the technology behind market research. How you do market research has evolved over the years to include targeting. While, before, it was about focus groups simply trying to understand the target. Today, Kumar explains the role of market research in identity resolution.
