Small businesses face tough competition from larger players in nearly every industry, and they need to use all the tools at their disposal to carve out a niche. With fewer resources available, the way you approach market research becomes even more important.
In this article, we’ll take a look at three ways entrepreneurs and small business owners can perform effective market research in 2021 and beyond. As a Pinterest marketing agency, our mission is to help you understand your audience and build more successful campaigns.
Reddit is one of the most popular websites in the United States, with a particularly large following among users under 30. It’s easy to navigate once you get used to the structure and interface, and you can find committed communities that are interested in virtually any topic imaginable.
Subreddits often include some of the most dedicated enthusiasts for a given subject, giving you the opportunity to have detailed conversations with people who are deeply interested in your field. Some organizations go even further by setting up dedicated subreddits for discussion of their brand.
While larger businesses obviously have a larger audience to target in surveys, the tools to create and distribute surveys have never been more accessible. Gathering feedback directly from your target audience is often the best way to generate actionable insights that can inform your marketing and sales efforts.
If you’re having trouble getting leads to respond to your surveys, consider offering a small incentive for a little extra motivation. Even something as small as 10% off can give users a reason to take a few minutes to answer your questions.
No matter what field you’re operating in, you’re competing against a variety of other businesses who want to attract the same target audience. Understanding what your competition is doing will help you differentiate yourself and identify strengths and weaknesses in your current tactics.
Competitor research can be complicated, but digital marketers now have access to numerous services that provide detailed information about what is and isn’t working for other brands in their niche. You can’t stay ahead of the competition if you don’t know what the competition is doing.
Market research is one of the most intimidating aspects of operating a small business, but effective research strategies can give you the information you need to achieve your short- and long-term goals. These tips will help you understand customer preferences and tendencies and use that data to perfect your approach to digital marketing.