Do you want to know exactly what you need to say and do online to reach your prospective clients? Market Research is your answer.
Whether you are in the start-up stage of your business, planning to expand or wondering what your competition is doing right and what you can do to be more competitive, Research will provide the insights and information you need.
Often business start-ups fail because they have a brilliant idea they think will sell but they haven’t taken the steps to find the statistics that will prove they are right.
OR, businesses survive but don’t grow to profitability because they didn’t analyze the data which is readily available.
There was this great Seafood Restaurant which was doing well in one main location but not surviving the competition in a local franchise when they expanded. One evening when I was there, I asked how their customers were finding them. The Manager mentioned they had created a Groupon deal to get customers in the door but their business was not increasing with repeat customers or referrals. AND, they were not asking their customers how they had found their restaurant, except for the customers who had bought their deal in Groupon. I made an appointment with the Manager, at her request, to discuss how they could increase their customers but before the appointment happened, the main location made the decision to cut their losses and close it down. I not only lost my favourite local restaurant but they didn`t survive long enough to reach their potential. Market Research and Competitive Research would have provided an abundance of information to make a positive change!
There are several forms of Research:
To gather information and statistics on your Industry, products and/or audience.
Identify key competitors in your market to evaluate Social Media conversations, website traffic and search listings.
By using a few free online tools for researching and identifying the relevant keywords for you to use on your website, and within your content.
Using free research tools to uncover and curate the best content to add to your Content Marketing Strategy and Calendar.
Using a few free valuable tools to ensure your website is fast and well optimized, how it ranks in Search Engines and if it is mobile ready. It can also provide pertinent information on what you need to have on your website.
Research what your competitors are doing online in Social Media to build their connections and grow relationships with their customers in Social Media.
Doing the proper Research not only provides you with valuable information on “what is”, it can be an amazing resource for new ideas to integrate into your Marketing Plan.