Carrying out market research is an essential way to give your business a clear roadmap on how to operate.
It guides you to make informed decisions, prepares you for shifts in your industry and also helps you to keep up to date with the latest trends.
Conducting effective market research is all about finding answers to the right questions, such as:
• Who are you targeting?
• Who are your competitors and what are they doing?
• What problems are you solving?
Key Tip 1
Get to know your audience and build your solution and communication strategy around it:
• What do your customers want and need?
• What are their consumer behaviors and how can you best engage with them?
Key Tip 2
Look at your competitors and the brands that you admire:
• What are they doing and how are they interacting with their customers?
• How can you offer better value and win them over?
• How can you offer more value and win the audience over?
Key Tip 3
Know your customer persona:
• Make sure to address their frustrations and goals when developing your solutions.
• Write or rewrite your value proposition and keep your word. (Fake promises can kill your business, so avoid making them!)
Battalion analyzes your business plans to determine fundamental information such as brand goals, target audience and USP’s, and we thoroughly evaluate the market and the competition. We also determine your audience’s understanding of your product or service through surveys and other analytical tools.
Our marketing team use these tools to conduct effective market research.
We use Xtensio to create Customer Personas in our Discovery Phase. It’s a valuable, easy-to-use tool to create a detailed persona.
Google Forms is a useful tool to create and analyze online questionnaires for surveys. Responses are delivered in spreadsheets, as well as graphs and tables to give you a helpful visualization of the data.
We use Canva to design our presentations. It’s an online tool where you can design anything from social media posts to posters. Try it out!