Secondary Data: Two Ways To Succeed

Secondary data can be quite useful for companies who do not have the resources to go out and collect primary data. Secondary data is data that already exists, collected from published websites, commercial reports, etc.

Internal Secondary Data

As a marketer for a company, you want to be able to utilize your internal resources to collect secondary data. First, you’ll want to ask yourself, “What am I looking to solve?” Once you have this answer, you can start diving into the existing data from your company. This data can be found in your company’s CRM system such as customer data, or through sales reports and visitor surveys. This type of data is being collected by different departments and may not fully answer your research question unless you use parts of each data source to tell your own research story.

External Secondary Data

After you have collected all of the internal resources you can find, look for your gaps. When you have identified where you have a gap in your reporting, this is when you seek external resources for additional data. This may be through research firms who track trends data, or published data through census or commercial reports. This type of data may or may not be free to access. In some cases, it will cost, so it is wise to have a budget set back to retrieve external secondary data.

Your Next Steps

Once your gaps are filled with external secondary data, it is time to pull your entire report together to answer the original question, “What am I looking to solve?” Now, you should be set with two types of secondary data to back up your findings and report out on. Remember, secondary data is cheap, but it is not designed in the way you need it for your purposes. Sometimes, you have to make it fit in the context you want to use it for. Best of luck on your final report.

Did you like this article? Be sure to read my last post about relationship analysis in marketing research here.

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