How to Do Market Research and Learn About Your Target Market

When you start a business, you must understand and know your target market. The reason I say this is because you don’t want to get into a market and noHow to Do Market Research and Learn About Your Target Markett find out if it’s hot or not and if your products or services will sell or not. How to Do Market Research and Learn About Your Target Market

So you shouldn’t start selling a product or service without doing the market research first.

So you are asking how do you do a market research, will with the internet is full of tools the can help you do that. Some tools are free and so are paid. See the list below of the tools you can use to start doing a market research.




How to Do Market Research and Learn About Your Target Market

  1. Google Adwords Planner (free)(https://adwords.google.com/KeywordPlanner)
  2. Bing Keyword Tools (http://www.bing.com/toolbox/keywords
  3. WordTracker (free and paid version)
  4. ClickBank (free)
  5. Amazon (free)
  6. Keyword Discovery (paid)
  7. LongTail Pro (affiliate)
  8. There are many out there. Just Google: “keyword research tools“.

Assuming that you want to sell to your market, you want to understand what your target market wants and what your target market wants to buy. At times it is easy to know, and only if you know your target market or happen to be exploring it. Might you ask? What am I saying. Let us say that you know about ‘weight loss’ market a little bit, you might already know because you might already purchase items that help you with ‘weight loss’ such as information, products or services to assist you with ‘weight loss’? So you now know what they fear, how to get to them. But if you don’t understand your target market you need to know it before diving into it.

So the better you understand your target market, the better you will serve them, and that means that it would be also easier to sell to them because you know what they want and don’t want. Remember not all target markets are the same, you have to know and dig deeper into your target market because there are niches on top of each, and that’s where you find your direct target market.

Let me give you an example, let says you like writing about ‘weight loss’ You need to understand the market before starting to write about it. Then you need to find out exactly what topics the target market wants and how to write it. If you don’t know your market, you can do a survey on the internet for the target market. So when you write, you see all the topics that your target market wants to learn about and then you can quickly research it and then write about it.

keyword research picture

 

How to Do Market Research

The more knowledge you have on your target market, the better you will serve the market and get your contents accepted by your market. In the picture above I did research on (weight loss), the keyword is board when I search it on Google it shows over (222,000,000) (that’s right 222 Million websites that sell or have information related to ‘weight loss’. So if you use the Google keyword planner, you will see ‘weight loss’ topics that will narrow your research below is an example of the ‘weight loss’ as you can see the  ‘Weight loss’ keyword gets 246,000 results in searches per month.searches a month.

How to Do Market Research and Learn About Your Target Market example picture

How to Do Market Research and Learn About Your Target Market example picture
Let’s now see how we can narrow ‘weight loss’ to targeted niches.
‘If we look at the image above you can see that ‘weight loss’ is now narrowed and focused on the main things that your target market might be searching. Compared to the total “weight loss” competing websites which were 222 million.

‘Weight loss shakes‘ results in 33,100 searches per month.

‘Fat Burners‘ results in 49,500 searches per month.

‘Protein shakes for weight loss’ results in 9,900 searches per month.

‘Weight loss belt‘ results in 3,600 searches per month.

So as we narrow the search we can find target markets you can get into, the further a researcher dig deeper the narrow it will be, the better you understand what to write about or what products or services to offer to your target market.

When you do your research, you will know how to provide the best quality service or products to your market, and that’s how you succeed.

Over a decade ago it was hard for a person to do market research and it was costly, but now it’s easy, and mostly it can be done for free and if you want to go deeper into searching your target market it is affordable. Thanks to the internet and a lot of the major internet service provider such as Google, Yahoo, Bing and even Amazon can help you do that. Those companies already gathered a collection data from their users, such as what they are searching for, how many time they have searched it and what are the related searches to what your market are, which makes it sometimes free and affordable.

Why you want to Do Market Research and  Learn about Your Target Market

Here are some reasons why you want to do a market research on your target market, the primary rewards of Internet Market Research are the following:

1. You will be able to draw high demand with precision and accuracy.

2. You can also learn the many ways you can promote your target market.

3. Get into the similar business that is related to your target market.

4. Find groups that will help you with that.

The benefits of understanding the information that you collect about your target market will help you with the following…

1. Understand the needs and intentions of your current and future customers.

2. You will figure out the progression of the customer’s purchasing patterns.

3. Know more about your competition’s weak and strong points.

So, now you know that when you understand your target market, and you do your market research it allow you to refine your range products and services. When you know this it can improve the communication of your business goods or service to your clients. You will also attract new clients and keep them buying your products or service for the long haul, in return, you will reach your end business goals.

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