Are Focus Groups Still Worth the Investment for Market Research? | Ep. #358

<p>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!</p> <h3>Time Stamped Show Notes:</h3> <ul> <li>00:27 – Today’s topic: <em>Are Focus Groups Still Worth the Investment for Market Research?</em></li> <li>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</li> <li>00:56 – Neil did a focus group that was paid by <a href= "https://www.yahoo.com/">Yahoo</a> <ul> <li>01:09 – The people discussed Yahoo and its competitors</li> </ul> </li> <li>01:50 – Focus groups were very effective before, but it won’t be as effective now</li> <li>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</li> <li>02:32 – Eric doesn’t see the need for an in-person focus group</li> <li>03:02 – Mileage may still vary</li> <li>03:12 – <a href="http://marketingschool.io/">Marketing School</a> is giving away a free 1 year subscription to <a href= "https://www.olark.com/">Olark</a> which is a live chat software tool <ul> <li>03:24 – Subscribe, rate and review <a href= "http://marketingschool.io/">Marketing School</a></li> <li>03:30 – Text MARKETINGSCHOOL to 33444 for those in the US</li> </ul> </li> <li>03:26 – That’s it for today’s episode!</li> </ul> <h3>3 Key Points:</h3> <ol> <li>A focus group is a group of your ideal customers who meet you in person to discuss a product.</li> <li>Focus groups were effective for market research before mass improvements were made in technology.</li> <li>If your targeted customers are seniors, focus groups might still work as they prefer face-to-face surveys and conversations.</li> </ol> <p><span style="font-size: 10pt;"><strong>Leave some feedback:</strong></span></p> <ul> <li><strong>What should we talk about next?</strong> Please let us