The advent of the internet has changed the business world completely, and its impact is on clear display in every single element of a successful business. Marketing is no exception, as it has moved over from its traditional form and has gone digitally. A sound digital marketing solution is, in fact, the lifeline of every company today.
As personalization becomes a core selling point for many companies, one must not dismiss the importance of marketing research and analysis. They are now considered the most significant elements of digital marketing.
What Is Digital Marketing Research?
Market research is the process of acquiring valuable consumer information and market trends. Is there a market for your product or services? Through market research, you can determine the needs and preferences of your target consumers. This data is further analyzed to formulate useful business insights that will form the core of both short and long-term advertising strategies.
Here are some helpful tasks that can be part of your market research:
- Conduct surveys or short conversations with contacts who are part of your target audience. For example: say you are thinking of launching a baby photography service. Speak to your contacts who have babies and ask them about their experiences in working with a baby photographer. Know their usual expectations, including themes, venues, and more. Even a short 5-minute talk can give you insights on how to run your business.
- Join groups and discussions online. Groups relevant to your target market can help provide you a free, low-effort way to reach a wide group of audiences online. You can start by asking questions and eventually promote your business if the rules allow it.
- Add a survey form to your website. If you already have a web page for your business, you can offer your audience a small discount in exchange for completing a survey form.
What Can You Gain from Deep Consumer Market Research?
1. It will align your strategies with consumer’s wants and needs.
Learning how to position your business at the intersection of what you do well and what your consumer wants becomes much more attainable through marketing research.
There is no better way to know what consumers think about your brand than by asking them. This information gathered through research will highlight gaps in your marketing strategies or even point to opportunities you failed to capitalize on.
2. It makes your digital efforts laser focused.
Conducting market research early in your project is important to secure long-term success. Without it, assumptions will make you question your efforts. Marketing research influences everything from site architecture, the colors to use in the design, how content is written, and more. It gives the insights you need to know what will really entice your target audience.
3. It allows you to study the competition.
Another vital benefit that digital marketing research can offer is information about your competitors. It gives you an idea about their current standing and the reasons why they are there. You can analyze your competitor’s behavior and approaches.
Also, depending on the situation, you can pinpoint marketing gaps your rivals are not able to see and take advantage of, learn from their mistakes, and come up with better plans.
4. It makes your brand’s marketing approach more flexible.
Every few months, there is a new site that takes over the internet. That being said, you are always faced with the question, “where should my brand exist digitally?” Is your website enough, or are you missing out on more consumers because you are not on Facebook or Instagram?
It is also possible that a large part of your target audience is mainly using a niche site like Pinterest. Without marketing research, your efforts could have been solely focused on other channels and miss emerging sites as a viable option.
Market research is crucial, as your consumer’s habits are regularly changing along with technology. To help you stay ahead of the curve, know what pivots your company needs to always remain relevant.
Work with a team that can help you in your digital marketing efforts. We at Advanced Digital Media Services have the knowledge and experience. Check out our SEO services, which can help build and strengthen your web presence.