7 useful tips for good marketing market analysis
Posted: Tue Jan 21, 2025 11:33 am
Preparation is the key to a successful online business. And before we can set a clear strategy for our marketing communications, we need to actually define our market, have a product or service that is interesting, in demand at that moment, and can be marketed well, and create the right terrain for sales success. What is a successful marketing market analysis?
How to set up a successful digital marketing strategy?
For a successful online strategy, it is necessary to check off a few basic points that are key in the world of digital marketing. So, choose our products and services with some logic behind it, not just because we like something and want to market it. We can decide why we will market it, to whom and how we will offer our products. But by making assumptions, we often do more harm than good. What is missing is a key step: how to adapt our services or products before advertising so that they are interesting to the right people.
Defining customer problems and needs
So let's stop for a moment at the first point or even before it . Even before we el salvador phone number lead learly define our company, niche and target customer, we need to choose our business and specialty wisely. Even if we already have it, it makes sense to do a market analysis so that we can push to the forefront that part of our business that is most interesting to our customers or. those products that people are most looking for or for which there is the greatest need in the market. How to do this?
Market research methods for a successful online business
There are several methods for conducting market research, such as surveys, focus groups, interviews, which are formal research methods. However, even in this way, informally and on our own, we can gain some key insights for our existing or future business if we delve into the methods listed below.
1. We ask our future or potential customers directly what they want
You can approach industry experts, consumers, or competitors with specific questions about a particular field to gather information about a particular market. Sometimes this can be embarrassing and unnerving. But you would be surprised how generous individuals are with information, they are confident and have high self-esteem. Sharing their knowledge in this way will not be “threatening” in the slightest; in fact, they will be happy to share their experiences with you. So don’t be afraid to ask questions of your competitors and customers.
2. Market discovery through secondary research or observation
Observation is an effective way to collect data on consumer behavior, for example, studying how customers handle a product in a store. Or how they behave on our website and which things they click on and are more interested in than others. Web analytics, such as Google Analytics , or statistics available on your social networks will help you a lot with this method. Social networks are also the perfect place to ask your users specific questions about their desires, as we wrote above.
3. Experimentation and testing before deciding to position the innovation on the market
It is nothing new that companies that, for example, market consumer products or offer services design products or packages and create test Facebook ads before deciding which product is worth producing/importing or which package to offer that will best suit the customer. They then either apologize to the test customers, send vouchers, refund the purchase price, or actually fulfill the orders or fulfill the demand even for those choices that they do not include in the permanent offer.
4. Get information about popular products and services using Google Trends
To use Google Trends, go to the Google Trends website (trends.google.com) and enter the topic or keyword you want to search for. You can also use the “Explore” feature to browse through different categories and see trends in different parts of the world. You can filter your results by time period, location, and category. The results will show you how popular that topic or keyword has been over time and where in the world it has been most popular. You can also compare multiple topics or keywords. You can also use this tool to explore related queries, rising related queries, and even compare to other regions or time periods. It’s great for checking the “seasonality” of products.
How to set up a successful digital marketing strategy?
For a successful online strategy, it is necessary to check off a few basic points that are key in the world of digital marketing. So, choose our products and services with some logic behind it, not just because we like something and want to market it. We can decide why we will market it, to whom and how we will offer our products. But by making assumptions, we often do more harm than good. What is missing is a key step: how to adapt our services or products before advertising so that they are interesting to the right people.
Defining customer problems and needs
So let's stop for a moment at the first point or even before it . Even before we el salvador phone number lead learly define our company, niche and target customer, we need to choose our business and specialty wisely. Even if we already have it, it makes sense to do a market analysis so that we can push to the forefront that part of our business that is most interesting to our customers or. those products that people are most looking for or for which there is the greatest need in the market. How to do this?
Market research methods for a successful online business
There are several methods for conducting market research, such as surveys, focus groups, interviews, which are formal research methods. However, even in this way, informally and on our own, we can gain some key insights for our existing or future business if we delve into the methods listed below.
1. We ask our future or potential customers directly what they want
You can approach industry experts, consumers, or competitors with specific questions about a particular field to gather information about a particular market. Sometimes this can be embarrassing and unnerving. But you would be surprised how generous individuals are with information, they are confident and have high self-esteem. Sharing their knowledge in this way will not be “threatening” in the slightest; in fact, they will be happy to share their experiences with you. So don’t be afraid to ask questions of your competitors and customers.
2. Market discovery through secondary research or observation
Observation is an effective way to collect data on consumer behavior, for example, studying how customers handle a product in a store. Or how they behave on our website and which things they click on and are more interested in than others. Web analytics, such as Google Analytics , or statistics available on your social networks will help you a lot with this method. Social networks are also the perfect place to ask your users specific questions about their desires, as we wrote above.
3. Experimentation and testing before deciding to position the innovation on the market
It is nothing new that companies that, for example, market consumer products or offer services design products or packages and create test Facebook ads before deciding which product is worth producing/importing or which package to offer that will best suit the customer. They then either apologize to the test customers, send vouchers, refund the purchase price, or actually fulfill the orders or fulfill the demand even for those choices that they do not include in the permanent offer.
4. Get information about popular products and services using Google Trends
To use Google Trends, go to the Google Trends website (trends.google.com) and enter the topic or keyword you want to search for. You can also use the “Explore” feature to browse through different categories and see trends in different parts of the world. You can filter your results by time period, location, and category. The results will show you how popular that topic or keyword has been over time and where in the world it has been most popular. You can also compare multiple topics or keywords. You can also use this tool to explore related queries, rising related queries, and even compare to other regions or time periods. It’s great for checking the “seasonality” of products.