…Or selected information is power?

All of us heard this sentence when we were not as old as we are. In that times not so long ago, having the best information was a key for success.

Today, in the Digital Media Era, we have full access to all the knowledge in the world, just with a but. We have tons of information and need to select just the one we need.

 

Information, business and marketing research

I’m Professor at the Universidad de León and one of the courses I teach is Marketing Research. Here we say that one of the main things for taking decisions is to have the appropriate information. First to know, then to act.

At this point, it’s taught that there are two main sources for having the information. First is internal, second is external. First comes from Marketing Mix, second comes from Marketing Intelligence Systems (MIS).

The question is: This is theory, are we applying as digital marketing consultants the theory that is being taught in our universities or it’s just something for learning and then everything will be forgotten?

 

Railway to Mombassa. Did they do a Market Research?

 

(Digital) Marketing Plan

When developing a (Digital) Marketing Plan we need information. Information about the market, information about our competitors, information about macro and micro environment. Do we know how to get the data or simply we suppose it?

I guess entrepreneurs and small and medium sized business, when developing a marketing plan (if) most of times forgets these simples steps and fail, but there are more dangers.

The option is to get such a quantity of information than can’t be processed or finally it’s not useful at all. This implies a loss of money, time and resources and can be even worst that don’t do anything.

 

Solutions

  1. Define the problem or opportunity
  2. Define your objectives
  3. Select the kind of research
  4. Planify the sample
  5. Develop the work
  6. Analyze the data
  7. Results, comments and conclusions

If we take in count these simple steps, we can have a very good market research dossier and then, planify what we have to for having our Digital Marketing Plan.

 

Your time

Do you planify first and then act or viceversa?