Marketing Research - Best Practices
Realize The Power of Market Research
Market Research helps determine not only what makes customers tick by getting inside their heads, but it can also reveal the same about your competition’s customers. With this e-book module, you’ll be armed with the knowledge to develop a strategy that will not only help make your current customers buy more and be more loyal – but also win customers from your competition!
EXTERNAL MARKET RESEARCH
- Demographics – Learn how to profile your ideal customer and how best to communicate with them.
- Developing Your Database – Is your most important asset going to waste? Discover how to turn your database of customers into your most powerful marketing tool.
- Competitive Analysis Tips – Learn stealthy ways to gather intelligence on your competition.
- Customer Panel: The DIY Focus Group – Learn to conduct Focus Groups like a pro and get results that make a true difference to your bottom line.
- Customer Satisfaction Survey and Customer Comment Card – Learn how to set up a Customer Satisfaction program that almost runs itself.
- Mystery Shopping – Find out how to set up your own Mystery Shopper program just like the biggest, most successful companies do – and learn more about how your customers are treated in just one week than you have since you first went into business.
INTERNAL MARKET RESEARCH
- Employee Satisfaction Survey – Learn how to use the most dynamic weapon in your arsenal to make sure your company goes to the next level.
- Employee Opinion Survey – Get information that will help you create solid plans on increasing morale and improving customer service.
- Research Terms and Lingo – Learn research lingo and sound like a pro.
Frequently Asked Questions – Research
What is the purpose of market research?
Are you starting a new business? Maybe you are expanding or getting ready to take your business to the next level. Or, perhaps you are just trying to recover from the recent economic downturn. Regardless of what stage your business is in, your company can benefit from Market Research. Market Research helps you identify opportunities to grow your business, to improve your products or services, and to ultimately increase your revenues and profits.
How can research help me identify my market?
Research is the key to identifying your market. Through various research methods, you will be able to determine your ideal customer and how best to communicate with them. Research also helps you understand the demographics of your area, providing you with the opportunity to identify any competitive advantages or growth opportunities you may have.
Why is a company database important?
A database is simply a record of customers and prospects, often including their contact information and profiling data. Creating a database for your company will help you expand your business and promote repeat business. In addition, this database could also help you foster personal relationships with your customers by including their personal information, such as birthdays, anniversaries, hobbies or favorite sports teams.
How can I find out what my competition is doing?
There are many reasons why you would want to gather intelligence about your competitors. Competitive intelligence provides you with hard facts that you can base your decisions on – from marketing tactics or product launches to your overall business strategy. You can easily and effectively gather competitive intelligence by visiting their booths at trade shows, buying their products or services, browsing public data sources, or simply by searching the Internet.