|
|
|
|
|
|
|
Are You Ready To Research Your Market?
Picture this. You develop some product or service, spend countless hours making sure everything is just right, set up a beautiful web site, make sure the ecommerce end is secure, and then release what you know will be of utmost benefit to others.
Do you really know this? How do you know it? Gut feeling? Someone else told you so?
In the world of online ventures, researching the currently defined marketplace can be even more important than in the offline world. Why? Things change so incredibly fast. Web sites and services start and end with the blink of an eye. In part this is because of the nature of the internet, and most are able to survive these types of massive fluctuations. But the ones who succeed and stay near the top, releasing of product after product are the ones who initially conduct market research and do so on a regular basis.
Now, don't let the term intimidate you. Market research is simply about getting to know what others are doing, what others want and who if anyone is supplying it. Yes, in a way this is supply and demand revisited. But, and this is important, market research is also about predictions and expectations.
By studying and learning about what is going on not only in your current market but in related areas, you will begin to develop a keen sense of what is needed. Even better, you will begin to develop a sense of innovation, possible areas that others have not yet thought about. At this stage your brain will flair with excitement and your online business ventures will begin to take on a "cruise and control" nature.
Be aware that market research takes time. It must be planned out with a clear goal in mind. Why? Market research in general involves sampling a multi-variable parameter space. O.k. Dan, so what does this mean?
It simply means that the question you are trying to answer depends on more than one thing.
For instance, suppose you want to research web usage habits. This is an enormously complex topic. It depends in part on what a person is searching for, time of day, day of week, browser type, computer type, dial-up connection, gender, age, etc..Do you see how this can be very hard to understand.
So what you do is narrow the number of variables. How do you do this? You focus your questions to areas that limit the number of dependent parameters - smaller subsets of the entire picture. Supposing that the question to answer is now "What percentage of surfers are looking for cosmetics on Wednesday between the hours of 6 and 10 pm?", we have now removed the gender, day of the week, and hour of the day variables. The problem is now much easier to solve.
Market research is a truly rich area. It involves people, who by nature are complex entities to study. But, there is no way around it. If you truly want to prosper in this field you must research your market, and you must regularly do so. Otherwise, your efforts will be in large part hit and miss. Take the time to add a research aspect to your business. You won't be sorry.
Dan J. Fry, c. 2003-2004, All rights reserved.
About The Author
Dan J. Fry is an independent researcher and owner of the e-Kinetic E-Zine. He has a PhD in Physics, two daughters and two cats. Subscribe to his e-zine at e-kinetic@GetResponse.com or by visiting his Online Home Based Business Infopreneur Resources site.
Advertisement: Honest Riches - Click Here!
Advertisement: Lost AdWords - Click Here!
Advertisement: Get $1 Million A Month In Google Pay-Per-Click Ads Free! - Click Here!
Advertisement: Who Loves Money? - Click Here!
Advertisement: SEO Elite, the GrandDaddy of SEO Software - Click Here!
San Jose Mercury News, USA - 1 hour ago
AP LOS ANGELES—The city on Friday unveiled a new marketing campaign built around the slogan "That's So LA" to keep tourists coming despite the nation's ...
New campaign to boost LA tourism abc7.com
all 23 news articles
Reuters
Chicago Tribune, United States - 4 hours ago
Those marketing dollars have an aim to push Audi US sales to 200000 vehicles by 2018. Schwarzenbauer said the company has a goal to sell 1.5 million Audis ...
Audi plans record US marketing spending Reuters
Audi plans to boost US marketing budget Automotive News
Audi says it will increase US marketing efforts Fox 28
DetNews.comall 16 news articles
Bizjournals.com, NC - 6 hours ago
Implications International, which specializes in interactive marketing, brand design, and Web development, has offices in Peoria, Ill., Mumbai, India, ...
MSNBC - 1 hour ago
TMI's marketing plan includes a program where LTC facilities can lease the equipment necessary to perform skin assessments and store the necessary data ...
Bizjournals.com, NC - 6 hours ago
Effective April 1, Imperial Hotel will start reservations service, sales, marketing and public relations activities within Japan for Halekulani and Waikiki ...
MSNBC - 18 hours ago
Proton will start by marketing a variety of enhanced water products that provide health benefits for people and the planet as well as the commercial product ...
Proton Laboratories opens Southern California office Bizjournals.com
all 9 news articles
Salt Lake Tribune, United States - 3 hours ago
... different companies around the US The Utah Chapter of the Society for Marketing Professional Services recognizes excellence in marketing communications ...
Boston Globe
Bizjournals.com, NC - Jan 8, 2009
United Parcel Service Inc. rival FedEx Corp. will cut its marketing budget by more than 25 percent for 2009, the company recently disclosed on its blog. ...
FedEx cuts marketing spend by more than 25 percent Reuters
FedEx cuts marketing budget DM News
FedEx to reduce marketing budgets by 25% Brand Republic
all 45 news articles
FMQB, NJ - 9 hours ago
Katz Media Group has launched a new, national marketing unit that will create custom solutions for advertisers and their agencies with the goal of ...
Katz Launches National Marketing Unit, Trims Staff Media Buyer Planner
Katz Media Group forms marketing unit BtoB Magazine
Katz creates unit to handle ads for new radio platforms SmartBrief
all 6 news articles
Examiner.com
Examiner.com - 13 hours ago
by William Sokolic, Jersey Shore Examiner The Hospitality Sales & Marketing Association International will recognize the Cape May County Department of ...
Service Marketers; How?s Your Packaging?
When a shopper picks up a product in a store, what's the first thing they notice? The packaging, right? The same holds true for someone buying a... Read More
Costly Web Copy Pitfalls
One secret to a site that sells: Look at your site from your customer's perspective. Another secret: Watch out for these common web copy pitfalls.Welcome to?nothingLook at... Read More
What Is Multi-Level And How Should It Be Worked
Multi-level marketing is really a partnership. You go into business with someone that has the same interests and goals you have. You make a commitment to... Read More
Marketing And Patience
"Get your positioning and your programs implemented properly, and the numbers will come. But you've got to have some patience." ? Jack Trout with Steve Rivkin"The New... Read More
Package Your Products for Thunder Thigh Women - Big Butts Too
Wake up women (and you men too). I think we are seeing light at the end of the tunnel. Madison Avenue is getting real about advertising campaigns... Read More
Did Jesus Get Killed for Practicing Interruption Marketing?
I'm reading Seth Godin's Permission Marketing and he brings up the difference between Interruption Marketing and Permission Marketing.Interruption Marketing is when you interrupt people from what they... Read More
For Market Breakthroughs, Put Timing on Your Side
In today' s marketplace, the pressure for immediate bottom-line results forces many companies to give knee-jerk reactions to economic fluctuations. While this management style may produce some... Read More
How to Write Irresistible Promotional Pieces that Attract More and Better Clients
Whether you're creating a sales letter, a brochure, a newsletter, or any other business promotional piece, you need to write in a way that not only explains... Read More
Free or Not Free ? That is the Question
You may be in business for yourself or as a small company, but no matter what, especially if you just started this business, you need publicity! It's... Read More
Love My Dentist
I love my dentist! When is the last time you could say that about yours?True, dentists do tend to get a bad rap (remember Steve Martin's sadistic... Read More
How to Save Time and Achieve More by Creating High-Leverage Marketing Assets
The single biggest, non-renewable asset you have is your time. There are only three things you can do with it: waste it, sell it, or invest it.... Read More
The Truth About The Fallacy Of 7
Ted Nicholas is a marketer with a proven track record. He has started, operated and sold 21 profitable businesses, and is responsible for the direct or indirect... Read More
Why You Buy
Behavioral economics is a new science that sheds light on some of our most important decisions. It is the study of how and why people make money-related... Read More
A Point in Every Direction is the Same As No Point At All
Ever try to be something for everyone and find no one wants it? Do you have trouble finding the time to focus on your business? Do you... Read More
The Sweet Aroma of Highly Effective Marketing
Highly effective marketing is accomplished when your marketing materials and marketing strategy work together to reliably move your prospects through your sales process.Have you ever caught a... Read More
Too Much To Do: Four Keys to Effective Delegating
Never tell people how to do things. Tell them what to do and they will surprise you with their ingenuity. General George S. PattonMany people think they... Read More
10 Surefire Ways to Add Sizzle to Your Brochures
Businesses rely on brochures as their front line in communicating their products or services. Yet according to Shannon Cherry, APR, many find them not as successful because... Read More
Heres A Robust, Turnkey, Interactive. Best of Breed, Mission-Critical Solution to Kill Buzzwords
Fellow Publicity Insiders, what does this phrase mean? "We envision a center of excellence where our accelerated changeagents can maximize their... Read More
When Designing Postcards, Aim for Refrigerator Door Mindshare
If you want to design effective marketing postcards, then aim for "Refrigerator Door Mindshare." By this, I mean that you should create a card that someone would... Read More
Future of Marketing Part 2
In Part 1, I discussed how traditional marketing is no longer working the way it used to. This is happening for a variety of reasons -- people... Read More
Always Sell To New Eyes And New Ears
One of the hardest things for you to do as an advertiser to do is to step into your prospect's shoes and really understand what makes him... Read More
Sell Big Ticket Items Now! - 1 Simple Step To Keep Your Fears From Holding YOU Back
First, some background on today's topic. I've had a terrible week. Not terrible as in I got nothing done because I did actually get quite a bit... Read More
10 steps to promote your business
1) Word of mouth is the most cost-effective, powerful form of promotion. Write a list of 50 people you know but don't see regularly ? relatives, friends,... Read More
Marketing On The Cheap: Become a Joiner
Recently I wrote an article on the benefits of joining your local Chamber of Commerce as a way of getting exposure for your business. See "Marketing on... Read More
Judge Rules in Consultant?s Favor with 80-20 Rule
I opened the registered letter and was shocked. My best clients were joining together in a class-action suit against me. The letter stated that I had promulgated... Read More
Are Corporate Awards and Corporate Gifts Beneficial for Your Business?
With the increased challenges that all companies are faced with, many corporations have implemented various initiatives to continue to grow corporate earnings and shareholder value, some have... Read More
Sum of Its Parts
I just spent a week at the beach with my family and, as much as I vowed not to think about work, stumbled onto a highly relevant... Read More
Clever Headlines Usually Flop! Are You Being Too Clever For Your Own Good?
Copywriters that try to be clever, humorous, abstract, or use double entendre with their headlines and ads will normally find that they flop and are thus a... Read More
How To Sell To Howard Stern... Oprah Winfrey... And Paul McCartney!
Do you know what Howard Stern... Oprah Winfrey... and Paul McCartney all have in common?Well, the simple truth is... they're all... "Baby Boomers"!The "Baby Boomer" generation accounts... Read More
Fundraising Letters Should Raise Donors, Not Donations, When Mailed to Strangers
Are you willing to spend $1.25 to raise $1? To lose money to make money? You should be. Most donor acquisition mailings never pay for themselves. They... Read More
Features and Benefits Brainstorming
This is it what I use BEFORE I begin to write any marketing copy or launch any new product or service. You can complete this with the... Read More
How To Turn $100,000 Into $1,191,817 In Just One Year Part II
Turning a modest $100,000 annual turnover into $1,191,817 may sound outrageous but if you really understand the fundamentals of marketing this becomes quite achievable.Once you realise that... Read More
Why Your Business Need a Website
Web Presence gives your business a distince edge over your competitors, especially when you want to expand your current customer base. For exmaple, if Jane wants to... Read More
Why Instant Gratification Marketing Condemns Businesses To Losing 90% Of Their Potential Customers
Most businesses target only people "ready-to-buy". These hot prospects are "Now Buyers" because they've been inching closer to a decision for some period of time. They're just... Read More
Measuring the Return on Your Direct Mail Investment
In direct mail lore, there's a rule stating that you can measure the success of your efforts by a minimum response rate of 1-2%. In other words,... Read More
Sales and Marketing: Can One Exist Without the Other?
Simply put the marketing people and the sales people depend on each other 100%. One cannot say that a marketing department is any more or less important... Read More
Are Your Marketing Efforts Working...Or Could They Use A Little Help?
Marketing is a broad business subject that encompasses a range of activities including advertising, public relations, sales, and promotions. Generally, you will find that people often confuse... Read More
Marketing Worksheet
Even the world's best marketing strategy won't work for you if it's not well-planned, and the best way to do that is to develop a customized work... Read More
Let It Ring
Telemarketing has its place in the marketing arsenal. But telespammers - like their digital counterparts in the email marketing world - really make it tough on the... Read More
CRM System: Give Meaning to Your Data
A customer relationship system (CRM) system uses technologically-driven strategies to assess customer needs and buying behavior. This allows businesses to market their products and services more effectively.... Read More
Postcards Work
What's the fastest, simplest and cheapest way to promote just about any business?The answer is postcards sent by direct mail. You can get your message to a... Read More
Free Marketing Tips
Dumb Excuse #1"I'm not sure I want to invest any money in my internet business right now."Yes, it's sad to say but I hear this one from... Read More
The Top Seven Marketing Mistakes
In my view, nearly all government statistics about reasons for business failures are nonsense.Undercapitalization, inexperience, or poor management are usually blamed for all business disasters.Of course, there... Read More
Work Backward And Make More Sales!
It goes against the grain, especially for those of us used to "business at the speed of light." But bear with me. I'm not trying to teach... Read More
Guide to a Profitable Marketing Mix
You may have heard the term Marketing Mix used in connection with marketing planning.Marketing Mix means the combination of promotions, products, places (distribution channels), and prices you... Read More
What You Need in Your Marketing Calendar
Marketing calendars are used by many businesses to help keep sales pipelines full of new prospective customers. Small businesses may just keep a simple calendar with handwritten... Read More
Guerrilla Marketing in Action
Guerrilla Marketing is using time, energy and imagination to market a product, business or person without spending massive amounts of hard earned profit dollars. It also has... Read More
Quiz: Where is Your Marketing Message?
Wondering if your marketing message is dancing in the spotlight right in front of your target market or is busy cowering by the punch table nowhere near... Read More
10 Ways to Get Your Flyers Noticed
An inexpensive way to promote your services is to createvarious flyers and distribute them wherever you go -- pinthem to the bulletin boards at the library, bookstore,handout... Read More
Simplicity In Marketing
In a world that is spinning out of control; with consumers being bombarded with hundreds of advertising messages per day in a variety of mediums, it is... Read More
Renting Your Mailing Lists to Others
RESOLVING THE "PROPRIETARY" DILEMMA... SHOULD YOU RENT YOUR OWN MAILING LIST TO OTHER BUSINESSES ? Mail order dealers are always looking for more people to send their... Read More
Direct Mail Leads - Brand Identity Guru
Direct mail can be one of the most effective tactics to reach your target audience. Developing a strategy for direct mail is critical to obtaining the best... Read More