As we know, the more information we have, the better decisions we can make. With that in mind, we present useful marketing research resources.
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- A Better Way to Design and Market Products
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From MarketingProfs: Useful Marketing Research Resources
As Aleh Barysevich observes for MarketingProfs:
Market research is essential. Whether you’re about to start a business or launch a new product, feature, or location. You must ascertain that the opportunity for your idea or product exists. That you have a unique selling point. And that there is a demand.
That seems obvious. However, market research is often neglected by those who want to go with their instincts. Instead of collecting data. People are irrational optimists. Which drives the market forward. Yet, could account for myriads of failures.
To avoid failure, do research. While doing so, go further than establishing your place in the world of businesses and products. Dive into competitor research to get ideas about product development, pricing, marketing, and building relationships.
In doing that kind of research, you need an array of tools. Therefore, we’ll go through some of the best ones to see how each one can help you understand the market and ensure you come out a winner.
Barysevich describes 10 resources. Below, we highlight his number one. For the other nine, visit the link above.
Awario: For understanding your competitors’ popularity and reputation on social media, and calculating your brand’s share of voice.
Generally, it monitors social media networks, news, blogs, forums, and the Web for mentions of a keyword. It’s a big help to understand more about the market and your competition.
You may create alerts for your main competitors. As with Google Alerts. Then, wait for Awario to collect the data. Which will show you how much people talk about competitors. How that changed over time. What the prevailing sentiment behind the talk is (positive, negative, neutral). As well as when and where the talk happens. Also, in which languages, geographical locations, and social media networks.
This chart comes directly from Awario.
