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How To Do Market Research – Basic Online Market Research For Your Business
How great would it be to know what your customers wanted before they even asked for it?
Can you imaging what it would do for your business and your reputation to always have a collection of highly sought after products or services?
You’d quickly become the go-to expert in your field and customers would know they could count on you to solve their problems quickly and easily.
And that’s why on this episode of we’re talking all about market research, and I’ll give you 5 ways to know what your customers want before they even do.
#1 Google Trends
Google trends allows you to track which keywords are increasing in popularity and provides suggestions for other terms that are rising in search volume. This is a hugely valuable tool and for the most part is largely ignored, which means that by using it you’re gaining valuable insights that your competitors are likely not using.
#2 Google Keyword Planner
To use the keyword planner you first need to sign up for a free Google Adwords account. Even if you’re not planning on advertising it’s still a good thing to have. From there you can access their free Keyword Planner, type in a keyword and receive not only the number of searches for that keyword, but also a list of suggested keywords that people are looking for online each and every month.
#3 Facebook Insights
The best way to use Facebook Insights is to post a variety of different content to your business page (all related to your business of course) and see which posts get the most engagement (such as likes, shares, and comments). From there you can determine what type of content your audience is most interested in so you can start to create more just like it, and eventually, products and services around those subjects.
#4 Twitter Insights
Twitter audiences allow you to really drill down on the types of things your customers and followers are interested in. As an example, for my account I can see that my audience is made up mostly of people interested in entrepreneurship, marketing, travel, and technology.
#5 Google Alerts
The final piece of our customer understanding puzzle comes again from the search engine giant, Google. Google Alerts allows you to monitor what’s happening with your customers right now. The way to use Google Alerts is to enter a keyword that you would like to track into the search bar at the top of the page, then Google will email you when this keyword appears online. You can use this to track your businesses name, the industry you’re in, your own name, your competitors, or pretty much anything else you can think of.
Using even one of these tools can help you gain a better understanding of your customers. But when you combine all 5, you’re really able to create a clear and compelling picture of your customers wants, needs, and behaviors.
And the better you understand them, the better you’re able to come up with value providing services and solutions to their problems.