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November 14, 2017
What to Look At When Conducting Market Research When you’re conducting market research, it’s important to be aware of what you’re looking at and looking for. The more you’re ready in advance before you start your research, the more likely it is that your research will be accurate.
* Design the Project First Think about all the questions you may have and how you’ll get the answers. Some you’ll be able to get via primary research, others via secondary research. Will you use a focus group, a survey or something else?
Define Your Problem When you start conducting market research, you need to first define the problem and identify the objective of the research that you’re trying to accomplish. Knowing these things in advance will be helpful.
* Know What Question You’re Trying to Answer When you start researching, you need to have a list prepared of the questions you want to answer before you even start. This is going to help direct the research that you do.
* Look for Official Sources The best thing to do is to look for government data, trade publication data, and industry data from reputable sources. Your sources are the most important aspect of your information because they will determine whether or not your research is accurate.
* Start with Secondary Research It seems strange, but the best research to start with is secondary research which is research that’s already been conducted. Find out what answers you can get from other people’s work first. Then use those results to inform your primary research.
Following too few people As soon as you sign on for most social sites, they ask you what you are interested in and give recommendations as to who you might like to follow. Take these suggestions seriously and sign up, because the ones they are suggesting are usually the top participants at the site in relation to your niche.
Promoting too soon Most newbies to social networking are there because they’ve heard it is a great way to reach millions of people. They no sooner sign up with their profile than they start to crank out posts, tweets, and promotions at lightning speed.
Social networks are just that, social. It's not about you hammering out promotion after promotion. Focus on building relationships and connections that are based on your common personal and/or business interests.
Costly Social Media Mistakes Social media gives unprecedented access to people interested in your niche or industry, or the products and services you offer. However, some new users of the networks can get so excited by the prospect of more profits that they actually end up costing themselves through simple yet avoidable mistakes. Here are the top 7 to watch out for if you are a newbie social media marketer.
Do you want sales, subscribers, followers? Plan every campaign around a specific goal, which you can measure by getting the target market to take particular action. By limiting the number of actions available in the message or campaign, you help to reduce returns, unsubscribes, and unfollows.
Unprofessional profiles Make your profile as informative and professional as possible. Include basic information that potential customers or clients want to know, along with info that makes you stand out from your competition. A logo and colors help you to be recognized at a glance, so be sure to add a unique and professional logo to your profile.
* End with Primary Research After you’ve done your secondary research, it’s easier to design your primary research in a way that will get the best results. The results you need will depend on the questions you have so far.
* Once you’ve collected all the information you need in the methods you’ve chosen, you need to put it all together and combine it. A lot of market research is both creative and scientific, and it’s best to use both. You don’t want the research to be stifled. Analyze and Present As you conduct your research, always remember and keep in mind what you are looking for as the end result. How you plan to use the information matters a great deal. Is it going to be used internally or externally? When you conduct market research you need to know what to look for, and the way that starts is that you know what you want the end result to be. You know what questions the research will answer and how you’ll use it.