Title: The Basics Of Market Research

Hello,

Market research doesn’t have to be an extremely expensive
and time consuming process. In fact, it can be a lot easier
than you probably think.

We’ve already talked about why market research is so 
critical. Now we’re going to take a look at some of the
various methods that you can use to conduct basic market
research without spending a fortune.

The most obvious is simply studying your competition in 
order to find out what they are doing right, and what they 
are doing wrong.

The easiest way to do this is look up reviews of your 
competitors products and services online. Make a list of
common comments, both good and bad, in order to find out
why people are, or aren’t, buying from each competitor.

Reviews are invaluable for your own products, too. Sometimes
it can hurt to read your reviews, but knowing what people
DON’T like about your products can help you make a new
version that is much more profitable.

Forums are also great sources of information. If you can
find forums were people discuss products in your niche, you
can often find a wealth of information for free.

The same holds true of social media. Simply watching your
competitors’ Facebook and Twitter accounts can often give 
you a lot of insight into your average potential buyer, 
as well as what they think about the competition.

Surveys are another very good way to figure out what your
prospective buyer wants. You can use an online survey tool
to set up your survey, and you could even offer some sort
of contest or incentive for people to take your survey.

You can find people who might be interested in filling out
your survey on forums and social media.

Here are some great resources you can use to conduct basic
marketing research:

>> https://www.thinkwithgoogle.com/marketers-almanac/

>> http://factfinder.census.gov/faces/nav/jsf/pages/index.xhtml

>> https://ubersuggest.io/

>> http://www.pewresearch.org/data/

>> http://www.socialmention.com/

>> https://research.hubspot.com/

Tomorrow we are going to cover some ways to do market 
research into the demographics of your potential customers, 
so be sure you watch out for it!

Until then, 

{YOUR NAME HERE}

PS- Knowing your customer is probably the single most important
aspect of market research, so you don’t want to miss
tomorrow’s lesson!


