Besides, you don’t need a big funding to conduct market analysis – you can always use some market research methods always at hand. Be it human or financial.
Below are a few market research methods, vital for the success of your marketing plan.
E-mail Surveys
You can always use the old and secure method – conducting research via e-mail.
The only thing you need to keep in mind is that no one likes and no one will read and participate in a survey if it’s going to be long and tiresome. Try immediately getting to the point.
In addition, you can use a lot of online tools for surveys, such as Smart Survey, Survey Gizmo, SurveyPlanet and so on.
Personal meeting with the top clients
Words cannot describe what we can feel and see in person, which is why nothing beats actual conversation with your best clients over lunch. Invite them to join you for a lunch in a respectable establishment and ask them what they do and don’t like about your company.
Make them say what they would like to see as additional features, what aspects they consider better than yours in regards to your competitors. You can also find out what is their favorite thing about your company and make a point of stressing this feature in your future marketing campaign.
Your aim is to make them feel unique and valued. Treat their ideas like they are the best they ever had.
Social Media
Where can you find and discuss the latest news of your industry?
On social media of course! Forums and chats are used by users to discuss the best and the worst features of this or that company.
Register as a user and try to discuss your company. You will get a lot of valuable information on the subject. You’ll find out what customers value in your company and what needs to improve.
Social media will provide a better scope on the image of your company in the wide row of companies from your industry. Use this as one of the basic market research methods to get precious feedback on your company.
Google Alerts
If you want to hear the real opinions about your business, you should definitely make use of Google Alerts. Using it will give you a chance to receive updates anytime someone mentions the name of your company online.
Just imagine how much you’ll learn of what the competition and customers think about you.
Personal Attention to Your Customers
In case your business is dealing with corporations or some major companies – take time to visit them in person. Nothing beats the pleasure of personal attention. Not even phone calls.
Visiting clients will help you create an image of caring and attentive to its customers company. This is how you win a positive reputation and build long-lasting relationships.
The oldest of market research methods still being used - Ask for Feedback
Asking your clients for feedback is a sort of personal interaction. It creates the impression that you truly care about their opinions, suggestions and wishes.
Ask your clients to leave feedback for services and/or products on your website. If you receive one and the same advice over and over again – you’ll know for sure what you need to improve.
It’s also important to keep in mind that issues aren’t a bad thing (that is if they are small and can be easily solved). Research shows that customers are more satisfied with those companies that handled their small issues with products or services quickly and efficiently, than with those, where they had no issues at all.
This happens because in case there is no issue– there is a doubt in competence of the company to handle it quickly and efficiently if there appears one.
That's our list of market research methods which proved their effectiveness in designing successful marketing campaigns. Do you know other techniques? Let's discuss them in the comment section below!