Approaching market research
Market Research is where all successful sales and marketing strategies are born. It enables businesses to set the direction for their web marketing campaign, draft prospect personas, prepare their sales playbook and draft a clear marketing message just to mention a few. Needless to say, it is crucial to take the time and actually get it done right – trouble is that this is where a lot of web marketers often black out. Are we to approach marketing research with costly focus groups with online marketing experts and isn’t that how the top guns do it?
Now focus groups behind two-way mirrors may indeed be the approach that the top guns are taking but keep in mind that we all have access to something a lot better – the Internet! Yes we can all get this type of research done with lower cost and across a wider scope. Let’s check out a simple and straightforward approach to go about it – if you are looking for specific tool and strategies you may want to check out our recommended tools for online market research.
Getting Market Research done
Now prior to getting into the strategies and tools that you can look into for getting market research done, there are several things that you need to consider which would help you approach the task with a straightforward and effective methodology
Determine exactly what information you are looking to unravel – identify the specific things that you need to know for effective web marketing. Don’t try to get it all answered in one go. Otherwise you are not going to find out anything meaningful. Here are a couple of things that you ought to figure out while breaking them down into specific categories relevant to your business:
- The competitors that you’ll have to deal with
- Are you trying to solve a real issue that people are really dealing with?
- Any dissatisfaction people are having in the kind of products or services that they offer?
- In what way do your targeted prospects usually prefer to communicate or lookup information?
- How much money people are willing to spend for the products or services that they offer
- Is your product or service enticing or interesting enough?
- Psychographic and demographics
Come up with questions and think about how they are going to be answered by prospects – determine what questions you need to ask to get a comprehensive data (including follow-up questions). There’s nothing worse than having marketing research done only to realize later on that you’ve missed out on some logical questions that would have helped you understand your market better and having to do it all over again. Take the time to go through hypothetical conversations and prepare all the questions that you will need to ask before starting your research.
Seek out the individuals that are best suited for your market research – research in online marketing can be targeted towards buyers instead of leads or online users in general. If this is the case, you need to consider key characteristics that these people possess.
The best approach to asking questions for your research – What is the best and most effective way to ask your questions among online marketing prospects?
- Surveys
- Twitter – do you have a large number of Twitter followers?
- E-mail – do you have an email list that presents suitable contacts for your marketing research?
Analysis – of course to make sense of all the information you’ve collected, you’ll have to analyze it and this has to be properly done according to the kind of information you’ve been gathering which could either be qualitative or quantitative in nature. For instance, let’s say you are looking for quantitative data about how much interest is out there for the product or service that you are offering, you need to look at the number of people who responded positively versus those who’ve responded negatively or otherwise had shown indifference in order to decide whether to push through or scrap the project. In the case of qualitative data, you may want to consider the qualities that most of your target prospects find most valuable or the number of ways they are actually making use of your product or service and seek out new means of utilization that you overlooked to consider as well as identify issues that people are having regarding your product or service and how to rectify it or further improve it!
One needs to think of market research as a consistent and on-going process. The insights and information you acquired will likely yield more interesting questions that have to be asked. Take every opportunity to communicate with target customers and find out all that you can about their needs and what you can do to best address it.
The last thing that you want to do in website design is to annoy people and yet why is it that you’ll still find a lot of websites out there packed with elements that users can’t help but hate? Maybe it has something to do with the demands and strain of having to design your own website (or the excitement of it depending on how you look at it), its easy to overlook the quirks that you’ve actually experienced as a website user. Unfortunately the poor user experience that such web design quirks provide can lead to poor lead conversions, high web page abandonment, poor reputations and low search engine listing positions. Do you suspect that you could somehow be annoying your web marketing prospects – why not check out some of the top things people can possibly hate about your website?
A person’s decision to buy or invest in a particular product or service online can be influenced by various factors – among the most significant of which is social proof and how you can leverage your social media marketing efforts with it. Statistics from Google shows that approximately 70 percent of online consumers check out product reviews prior to actually buying something online. More than 60 percent of these people purchase products or services from websites that have reviews or ratings by previous consumers or clients. Online reviews and ratings are just one kind of social proof that you can find online in social networks and shows just how much people can be influenced by purchasing decision and experiences of others which clearly demonstrates its power as an online marketing concept and one that business owners need to leverage.
A common mistake that people make in their web design and development is that they make it all about them instead of focusing more on their customers or buyers. After all, the point of having a website for your business is to attract prospects which you can market to as profitable leads and hopefully convert into actual customers or buyers. Thus it makes perfect sense for such websites to cater to the kind of web experience suited for their targeted prospects. They often subconsciously ask themselves “ What is in there for me?” when checking out your website. To succeed in web marketing, one has to deliver a website design experience that clearly presents all the great things that your website and business has to offer and why they should care.
The process of creating video content for your video marketing efforts can be a grueling and tedious undertaking demanding hours of work tuning and editing. There is also the matter of actually promoting your videos so that your prospective customers can actually find, view and share it online. It is fortunate then that for people in the business of marketing with videos, Youtube offers a good and detailed analytics report enabling web marketing professionals to easily figure out what is actually working and what’s not (and why). If you are not taking advantage of such features in your video online marketing efforts then you can bet that you are leaving a lot of stones unturned.
Social media seems to be the last place one ought to do any automation as social media marketing demands a high level of transparency and engagement to succeed. There is no way that you can automate the âhuman elementâ and you canât have a robot represent your business in social networks right? Despite the significance of lending a personal touch to your business presence in web marketing and social networking, automation doesnât need to be harmful to your online marketing efforts across various social networking platforms. Automate it just right and it can prove beneficial to your business although this begs the question, how does one go about doing this though?
Quality is king! You’ve probably heard a lot of people in the internet marketing business say it like it’s a motto or an old saying but many still fail to appreciate or simply doubt its significance thinking that the technical side of SEO or social media marketing is enough to achieve their goals. If that sounds a lot like you then you ought to think otherwise or else your web marketing efforts are going to be buried alive. Here are a couple of reasons highlighting the significance of quality content and why its more important than ever especially this year 2012 wherein the web marketing scene had and is expected to see a lot of changes.
SEO or search engine optimization can be nothing short of a mystery for many people in the web marketing business especially those who are still starting out and establishing a business presence online. Many choose to employ specialists in the internet marketing business but end up even more puzzled about how the process of optimizing your website for the search engines actually work and what the authorities in the business can do for you. It’s always good to get a grasp on the mystery surrounding search engine optimization and if like so many others you are entrusting the task to good and reputable professionals, then they should be able to explain how their services work in a way that their clients will easily comprehend. If such service providers are unable to or in any way unwilling to do so, then it’s a good idea to look somewhere else for your online marketing needs