Marketing is information about the customer or consumer, or visitor or prospect. It’s the information about the person you are selling to or want to sell to.
The research portion is the data collection, the analysis and reporting of the information. It’s that simple. Market research is gathering information about the people who are selling to or want to sell to.
It’s an extremely simple concept. Yet, it’s one that many businesses avoid. Some are afraid of it. Some don’t know how to do it. Some don’t think it’s necessary for their business.
In the area of Internet marketing, market research is extremely important. The days of just building website and throwing a bunch of information on it are over. We need to understand that Google has changed the rules. In order to get good search results, we have to have websites that people really want to use.
This was important before, but now Google has made it a priority.
In a traditional business, what’s important is location. If you have a good location you’re going to get traffic into your store. But with the new Internet economy, to get traffic into your online store, you have to do your marketing research.
One of the first questions we ask is, what is it your prospects, suspects, or customers want?
But before we can answer that, we have to define who is we’re talking about. Because in the online world we have to be very narrowly focused. Our visitors can come from all of the world. They want to view your specific information about their interests.
So, we need to know who they are. What nationality, what age group, what income group, what social group, what demographic? Now, we can’t know all of this about our visitors. At least not at first. And sometimes when people see this they become overwhelmed. Where do I start? There so much information.
We start anywhere we can. We gather any information we can gather and try to organize it. That’s the process of market research. We try to understand who our visitors are now. What target markets we might want to work on? Who our past customers are?
As we go through the steps of market research, we’ll learn how to find out all that we can about our visitors. The better we can define these visitor and categorize them, the more successful our website will be.
This is not a one-time job. This is an ongoing project, they can start at any time and continue for the life of the website. The more we know about our visitors, the easier it is to produce content they want.