How to do online market research? A Simple Guide

Are you in search of an innovative method to comprehend your customers? Are you aware of what they do on the internet, their average annual income or revenue, as well as their top issues related to your product? What do they think of their coffee?

(OK this one might be too much.)

With all the information that you’ve got, you might believe you know your customers fairly well. It could be that you feel you know them well and can provide the services they require. Do you sound like that? You might want to consider a different approach.

Market research indicates the fact that 44% of companies believe they must recommend products based on previous preferences is crucial, but only 11 percent of consumers agree.

It’s important to understand that marketing isn’t a guessing contest. Simply putting yourself into the shoes of your client for a couple of minutes and trying to imagine how they feel and think isn’t enough.

In-depth, continuous market research is among the best methods to comprehend your customers. On the phone, via Skype or in a coffee, one-on-one discussions are typically the best method of getting inside the head of your customer’s target market. If you’re just beginning with market research, I suggest this as the first step.

This method of collecting data is time-consumingand not ideal for gathering large amounts of information. This is why marketing research online comes in. it can assist you in rounding all the data you’ve collected in your one-on one meetings and is a fantastic method to build the personas of your clients.

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In addition, market research will help product managers gain the information they require throughout the development process which allows them to design better products and keep existing products in the market for longer.

It sounds great, doesn’t it? But where do you learn more about your clients?

The answer is based on where your clients are spending their time. In this post I discuss the websites as well as tools and methods that have proved most efficient in my online market research on the target market.

Let’s get started.

Quora

Quora is a fantastic resource for market research as it is a place where people engage in lengthy discussions on a wide variety of topics such as social media to startup companies as well as ethnic cuisine. Search for a phrase or keyword that is related to your product into the search box and Quora provides a large number of conversations, certain of them reveal what your market’s considering things that relate to your company.

There’s for instance an rise of remote employees. Let’s say that I’m thinking about creating a tool to make it simpler to hire contractors. I’d like to understand the thoughts of the minds of community managers. Search for “social media‘ and instantly see the list of questions that pertain to your business or product idea.

Here’s an example from the year 2022, just after Elon Musk’s acquisition and the changes to Twitter:

With 305 votes and 22 replies and counting, this certainly captivated people! Of course, this was at a point that Twitter was in a state of changes and people were not sure about its direction. This was precisely the time when users would be asking questions.

However, that type of worry can occur anytime in any field.

If you’ve discovered an important subject to the people you’re targeting This could be a good blog subject to write about.

Check out one of the answers:

Huw seems very knowledgeable, doesn’t Huw sound pretty knowledgeable? Of course, I’d like to conduct my due diligence and ensure that he’s an authentic authority in the field of technology.

The next step is checking out Huw’s profile, and then reading more of his responses and learning about his qualifications. In this instance it’s evident that he’s a professional..

If I believe he’s an authoritative source and has writing ability, I might then choose to request him to create a guest blog post in your website. You could apply this method to all kinds of guest bloggers.

Keyword Research

As Copyblogger states in its free book, keyword research isn’t only about SEO. “At its most basic is market research. It reveals what topics people are looking for and what proportions,” and “it reveals the exact language people use when they are thinking about these issues, and provides the information you need to know how you can engage with them through the blog you have created.”

If you’re looking for an example specific, go to page 14 in their manual. It explains precisely the steps to follow:

Use keyword research to determine your industry

Identify which kind of business/product/service/blog would generate traffic or money

Decide what kind of content will grab your target audience’s attention.

In the interim, here are some ideas to aid you in your analysis of keywords:

Start by looking at the larger image. Do not get caught up on the specifics of individual words. Instead, step back. What trends do you observe? What are people looking for? What are their priorities?

Analyze the keyword’s profitability. In short Keyword profitability is the measure of the amount of money you could earn by gaining a position for a specific keyword. There are a variety of factors that affect the profitability of keywords, such as the volume of searches, competition along with the CPC (cost per click).

Be aware of the search intent. Keywords are used by searchers for various motives, so being aware of what they search for when using a particular search term is vital. For instance is it a desire to purchase something? Or go somewhere? Or do you want to learn something? You can tell from the questions they pose:

Search for keywords with high volume A keyword with an extremely high volume of monthly searches it means that there is plenty of interest in the topic. This is a great indicator that it could be an ideal content topic.

Consider keyword difficulty. The more difficult the keyword of difficulty, the more difficult it will be to rank for the keyword. Use my Ubersuggest tool for assessing this.

When I interview people who represent an industry or market that I am targeting I ask them to list the terms they’d use in Google to locate details about the particular industry, product or service. This gives me some phrases and keywords (that I may not have thought of previously) to explore during my research on keywords.

Blog Comments

There are several ways to utilize blog comments to research. If you’ve established a profitable blog that has multiple posts, looking through them could provide insights into your audience’s major issues.

Entrepreneur and extremely successful blogger Darren Rowse often gets hundreds of comments on his blog articles. He encourages his readers to make their comments meaningful and meaningful by closing his posts with a prompt to the readers to respond.

For example, the question within an article on blog comments received an impressive 199 responses in the comment section. The prompt Darren employed:

Commentaries like the ones below provide an abundance of information on what readers of Darren’s are thinking:

You can also read comments on the most popular blogs for industry and articles that are relevant to your industry as well as your competitors’ blogs to find common threads. Let’s take an example: I’m creating a course about creating a profitable blog as well Darren has been one of my biggest rivals. The comments on his blog provide valuable information about my customer’s psychological needs.

Surveys

Surveys are among the most useful methods of market research for effectively gathering feedback from customers. You’ll have plenty of possibilities. Here are some of them.

SurveyMonkey

Tools such as SurveyMonkey are great options for market research online. You can make regular surveys like quizzes, surveys, or polls. You can then forward the link to subscribers of your mailing list and place it on your website or use it in chat apps, or post it on social media.

SurveyMonkey is completely free to sign up for the cost of subscriptions starting at just $25 per month. For more in-depth surveys, the company provides an option for market research that conducts research for you. Estimated costs can be obtained on inquiry.

Alchemer

Formerly SurveyGizmo, Alchemer positions itself as a service for clients who have outgrown SurveyMonkey. It offers an industry-leading survey tool and corporate feedback. The free account allows you up to three surveys and individual accounts for ‘Collaborator’ start at $49 per month.

Qualaroo

Another method for surveying that is becoming increasingly popular is to put a brief pop-up survey on the top of your site using an app such as Qualaroo. This is a great way to test improvements to your product or for confirming the hypothesis you have about your intended market. Be sure to keep the survey short. These pop-up surveys are more effective when you only have one specific question.

Here are a few suggestions to get the most value of surveys with customers and market research:

Keep your messages simple and short. People are more likely to complete a short survey rather instead of a lengthy one.

Facilitate the process of responding. Include multiple choices whenever you can, and make sure the survey on mobile devices so that customers can complete it with them wherever they on the go.

Give a reward. This can encourage customers to take part when they know that they’ll get something in return, like discounts or free delivery.

Create engaging surveys. Make use of engaging language and images within your survey to help keep them entertained.

In the event that you create customer surveys we can now look at another strategy: the progressive profile forms.

Progressive Profiling of Your Formulas

You can employ progressive profiling if have a well-constructed strategy for marketing content and users often visit your site in order to download your content. Uh, what’s that?

Let me explain:

The process of progressive profiling can be described as a method of research that allows businesses to collect more data about their clients over time. In the example above, you can inquire about their interests on a single form, and then ask them about their jobs.

In the process of gradually requesting more details, companies can build a full image of their clients and their interests. Then, you can use this data to develop more targeted and efficient marketing campaigns.

The image below highlights a few benefits of progressive profiling.

Other advantages of progressive profilinginclude:

This allows you to collect more details about your leads in the course of time.

This helps you to build a comprehensive understanding of who your prospective customers are and what they’re interested in.

Allows you to customize your leads’ communications to make your leads much more likely become customers.

You can sort your leads into segments so that you can better target them by providing relevant content and offers.

It increases the chance that potential buyers will be enticed by your brand name and will remember your name when they’re ready to purchase.

It helps you filter out ineffective or irrelevant leads, saving your time and money in the in the long run.

In time, you accumulate enough data to draw an exact image of your subscriber or customer, with a focus on data that allows you to connect to them in a deeper way.

But, in order to get the most benefit from the market study, make sure to ask questions that will help to create an improved product or one that’s specifically tailored to the customers’ needs. Let’s say, for example, you were launching a new social media marketing tool, or the introduction of new functions.

In this instance you might ask questions such as “What’s your biggest social media issue? What’s the most important thing you’d love to accomplish through your social media activities?’ then give some possible answers in a multiple-choice format.

Your Competitors Website

Examining the web copy of your competitors and blog posts is an great way to determine what is important to your market. It’s true that there’s no guarantee that the competition’s messages are based on extensive study. However, the common threads that are found in the content of blogs and copy on the websites of your competitors will guide you towards the right direction.

To evaluate the message of your rivals it is possible to draw an organizational structure.

It could look like this:

The hierarchy is comprised of the following:

The brand promise (heart of the marketing message of a company)

A position statement (a short paragraph or sentence that explains what a business does)

Value proposition (the distinctive selling point that sets your business from other companies on your market.)

Valuation description (a written declaration that defines the value or significance of something)

Key messages (the main idea or thematic that a business is trying to communicate about its brand or product).

The proof points (a Proof point an argumentative element that supports a claim about a service or product)

If none of these choices work for you think about paying for market research.

Make Payment For Research & Data

There are numerous methods to conduct online market research without spending a cent, but you may have to shell out some money to reduce time and gain an even more comprehensive set of data. Below are a few options.

GutCheck

Market research firm Toluna recently bought GutCheck. GutCheck helps businesses better understand their clients, design and create products that meet the needs of are popular with their customers and develops creative concepts that will resonate with the audience they are targeting.

Furthermore, you can evaluate the performance of your brand and discover ways to improve your service or product or service, test new ideas for products, identify the customer segments and test ideas for advertising.

UserTesting.com

Like the name suggests, UserTesting.com offers testers a fee to provide their opinion on services and products.

UserTesting.com provides a variety of services, such as user experience analysis and user-friendliness testing and collaborates with a variety of industries, such as e-commerce and healthcare.

5 Second Test (Usability Hub)

It’s no secret that customers are quick to make decisions and that’s what’s the motivation behind this market research firm.

A good example is an online page. Customers can answer questions that are common to all, like:

What is the purpose of this page? serve?

Does the brand’s image look authentic?

What elements are etched in your head?

A limited, free plan is available, and paid packages starting from $89 per month.

QuestionPro

Another method of obtaining surveys is to collect data using the mobile kiosk in cases where Internet functionality is not available. QuestionPro allows this and also provides various other methods of collecting responses from participants like SMS.

QuestionPro lets users create surveys quickly and G2 has it rated as the top survey software.

You can join a no-cost “Essentials” account to begin exploring the program without having to provide your credit card information. Advanced accounts offer a comprehensive survey solution for companies. It starts at $99 for a month or $1,188 per year and includes a no-cost trial period of 10 days.

The option of a team-based account available. Request pricing for more information.

Free Market Research Tools for Market Research

Not to be left out There are a variety of free market research tools you can utilize to conduct your research. Below are three examples.

Google Trends

Are you looking for a tool that can provide topics, keywords, and the exact phrases people are searching for? You can’t get much superior to Google Trends.

This tool for market research shows recent trends as well as insights into the Google data and the peak and troughs of interest. For instance, if I use the search engine to find a’social media’ I am able to am able to get an idea of level of interest

If I examine the relevant queries and topics I gain greater insight into the searchers’ needs:

AnswerThePublic

Of course, I needed to include my offer in this blog.

Answer the Public an excellent way to discover the questions people are thinking about a specific subject in a single click. It works by ensuring that you type in the subject or topic you want to research and are able to see all the related terms and questions on the subject that users of search engines are searching for.

This is great as you can gain hints about the most important questions of your audience and issues on the subject prior to establishing your strategy for content.

Add this to other NP tools such as Ubersuggest and you’ve got yourself a an effective strategy to build SEO.

Google is the way to think. Google

Google’s Think with Google provides data about how people research products before making a purchase. In addition, U.S. Data and Statistics provides government statistics, including the demographics of individual cities, states and countries.

You can also find census data from the website of the Census Bureau along with their Quick Facts microsite gives you important demographic data on every state.

“Make My Persona”

Are you wondering what your ideal customer is like? Every marketer should be aware one of the most effective ways to reach your target market is to identify the people you’re selling to. The creation of a persona or avatar is crucial for your market research. it’s made easy by Hubspot’s free Create My Persona tool, which lets you create avatars using just seven steps.