If your average meal price is $20 – you may consider sending a coupon for 25% off of their meal. This seems great but if you instead use psychology in your offer, it will get a much better response. So instead of 25% off, make the coupon for $5 meal bucks or something similar. Instead of saying you have to spend money to redeem this coupon, you are saying this coupon is worth $5. Period. This is free money. You will see a much greater response.
Third-party companies also compile and sell contact information to companies and organizations. Customer surveys, public records, retail reports, and data software can all be used to collect demographic trends; other companies use only permission-based lists. These companies can usually narrow their mailing lists by demographic—for instance, to only working mothers who have children under three, with at least a bachelor’s degree, who own their own homes, have at least one credit card, a credit score of more than 560, and make $50,000 or more a year. Companies purchase these demographic lisst, and send their direct mail offers to this very targeted market.
Market researchers usually have at least a bachelor’s degree in market research, statistics, sociology or other related field. Some researchers, particularly those with companies dedicated to market research and in larger corporations, have a master’s degree. Market researchers who take advantage of internships, either during or immediately after college, will also gain valuable hands-on experience they can use in the future.