Using search data for market research — Doug Bell // Searchmetrics

About the speaker

Doug Bell


 - Searchmetrics

Show Notes

  • ? 02:08
    Using search insights to conduct market research
    ? 05:52 -How to package data so that it is accurate and relevant


  • “What we talked about yesterday was managers need to make data-driven decisions and the vast majority of managers are unable to do so because they lack quality data. Ultimately what I think we are talking about is, describing a gap in the traditional market research approach and the current subscription models that are available that boil down to a lack of accurate, timely, flexible market research. That is a problem that isnt just for small companies, its a problem for bigger companies too.” -Doug

  • “In some cases, it is the customers that bring you into that market and several of our customers have pointed out that with some help with our search data, we potentially could address first and foremost the issue of quality data and that is an issue of sample size.” -Doug

  • “The second issue is, can our data remain relevant. In other words, we can address things with larger sample size but markets are changing so quickly and so dynamic that does the data stay relevant.” -Doug

  • “We are talking about consumer showing their intent and consumer showing what it is they need and when they need it via the search behavior. Its not as simple as to simply say, Heres our giant data set, customer. Please take it and use it as you will. We do have to consider how to re-factor that data in a useful way for them.” -Doug

  • “There is some irony here that often brands are conducting market research because they are making a cognizant choice to go attack a market and then often, other brands are also saying, hey our customers are asking us for these services, without researching the market we need to start supporting our customer.” -Ben

  • “The market research tool at Searchmetrics was something that you were essentially dragged into by the market. Your customers were asking for support using search data as opposed to Searchmetrics saying, we want to go being a research market tool.” -Ben

  • “The first step for us is that we take our customers expertise and our own to really ultimately define what those category taxonomies are. Thats the base data and at the end of the day, that is the basis of consumer and competitive data as well.” -Doug

  • “When we talk of taxonomy, all were talking about is a set of language that describes a product category. It is that collection of ways of describing a product or a set of products within a product is a taxonomy.” -Doug

  • “What we are really talking about here is creating a time frame in which the market dynamics are captured so that data remains relevant. Our goal is to refresh that data on a quarterly basis. Now if we are going to a point where it is a more dynamic market, the idea is that we can actually sample data more quickly than the three months.” -Doug

  • “I think this is where experience comes into play. When you are conducting your own market research, you have to understand that some data is good, more is better but there is the notion of having too much and that your historical data might not be relevant and part of this is understanding what your market looks like and part of it is understanding data elasticity, how long the data is going to be fresh and relevant.” -Ben

  • “If we are solving this problem well, we are addressing two major challenges out of the gate and the first one is, do I have a large enough sample size and do I have accurate data, and can I get that data easily.” -Doug

  • “What we should be doing is providing a subscription service that leverages you to as much or as little data as you need to solve the problems you are looking to solve.” -Doug

  • “At the end of the day, the SEO community is largely data-driven and the practices, not only for collecting andanalyzing search data is something that we can apply beyond just search engine optimization and getting into the research phase and honestly more marketing leadership is something that SEOs and content marketers have the ability to step forward and do.” -Ben

  • August 26, 2020

About the speaker

Doug Bell


 - Searchmetrics

Up Next: