You’re ready. You know that an online presence is important, and you are ready to get started and branch out into the world of digital. You’re a hard worker and you are sure you can do all the digital deeds that it takes to get your brand out there. But before you hit that keyboard, take a step back and look at your market. Many business owners are ready and wiling to tackle the world wide web but they can forget that market research is key to having a successful online presence. Here is how market research can impact your online business.
Market Research Helps You Know Your Target Audience.
Even if I have the best product in the world that has the potential to make millions, I’m not likely to see success if I try and sell it from a table in my front yard. That’s because the odds of that right person passing by on their way down my cul de sac are pretty slim. No matter what your product is, in order to be successful you have to reach the right market. Part of doing market research is determining who that audience is- the people that not only want your product but those that need it too. The more you can learn about your target audience, the better you can design your digital presence to connect with them and attract them to your website and the more likely they are to convert to purchasing. When products go online, they are potentially available to just about anyone in the world with an internet connection. By determining who your target audience is, you can put your online presence in places where your target audience is most likely to find you and your product.
Your Market Research Helps You Find the Right Keywords.
Keywords are supremely important when it comes to you online presence. They will factor into your content, your seo, your advertising, and plenty of other places. When you do your market research, you can learn how your target market speaks. You can also determine the words they use when they are looking for products like yours and the questions they ask when they use search engines to find businesses like yours. The right keywords are essential for building a website that can be found by your target audience.
Your Market Research Helps You Determine Where to Place Your Products and Concentrate Your Efforts.
If you look at the population that uses LinkedIn versus the one that uses TikTok, you’re probably not going to see a ton of overlap. That’s because different audiences are attracted to the different platforms. So when you are deciding where you want to focus your digital presence, you need to know where your people are spending their time. You will know that when you do a thorough research of your target market. When you know where your potential customers are spending their time, a little research in and on that platform will tell you what kind of content is likely to resonate with your target audience. You will also have a better idea where to focus your advertising efforts. These are big decisions every company seeking a thriving online presence will need to make. And you find this information when you do the right market research.
Market Research Will Give You a Picture of Your Business from the Outside.
It’s no surprise that word of mouth is the greatest promoter (and detriment) to getting new business. Customers care a whole lot more what their friends have to say abut a given business than what that business says about themselves. When you do market research, you can see what customers are saying about your business and your product. This will help you know if the message you intend to be putting out there is the message that your customers are actually receiving. Hopefully, the two match. But if they don’t, then it’s time to take a close look at why people are saying the things that they are. You can also get a good read on your competition and what strategies they are using for their own digital presence as well as the success of those efforts. This can also inform your business decisions and help you formulate your strategy for creating or improving your online presence.
Market Research Helps You Find the Right Influencers.
A digital influencer is someone with a social media following that encourages their followers to take action. This action can be for many different things including social causes and what businesses to trust and partner with. When you have a strong understanding of your market, you may find influencers who would be willing to partner with you and promote your business. Influencers can be celebrities and athletes, but they aren’t always. And the right influencer doesn’t need to have millions of followers to help you in your digital marketing efforts. They just need to have connections to the right individuals, the ones you identified as your target audience, to make the difference on your ROI.
Anyone who has studied business knows that market research is important, both for creating products and advertising them for your business. But it’s easy to overlook the kind of impact good market research can have on your efforts at a digital presence. If you are looking to expand into the digital expanse, take some time before setting up that TikTok account or YouTube channel to learn about the people you are trying to reach. If you do, you will then be able to make the informed decisions about your digital presence that make the difference for your business.