eSource For Internet Businesses

What can you learn by conducting effective market research?

Know your customers – Market research will help you better understand your customers in a number of ways including demographic information such as their age, gender and geographic spread. The better you know your customer the easier it is to target your marketing and fine tune your product or service.

Know your target market – Who exactly are your existing customers and where do they live? What age group does your service or product appeal to? Do you know who your potential customers are and where they live?

Know your competition – Market Research will help you measure your service compared to others. What are the strengths and weaknesses of your business and are you improving in the areas that customers demand?

Products and services – Do you have the products or services that people want? Do you represent value for money? How do your company’s products and services match up to that of your competitors? If you have a product can you deliver, do you deliver, should you deliver?

Ease of doing business – Do your customers find it easy to deal with you and when they visit your store and/or website do they find what they want? Is there enough good advice and assistance on hand? Do people find it easy to buy from you? Are all your employees properly trained, helpful, knowledgeable and available?

Marketing – Is your marketing reaching the right people and is the marketing message clear and effective. Which marketing channels are effective and which ones are ineffective?

Do people correctly understand your marketing message? Does the marketing material properly represent your brand? Do you use the right channels to promote and advertise? Are you reaching the right people?

With the power of the Internet it is now very easy to conduct market research using one of the many online survey software sites that make conducting surveys and collating good market research intelligence quick, easy and extremely cost effective.

Tags: client, customer, feedback, market research, marketing, Online surveys, research data

This entry was posted on Tuesday, June 23rd, 2009 at 10:40 am and is filed under General Online Business. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.