How Simple Market Research Will Make You A Stronger Marketer
Contrary to popular belief, a good marketing strategy is not about what you have to offer. You might have the best Product X or Service Y, but it won’t work if your market doesn’t want it. Put the needs of your ideal customer before what you offer and watch your marketing come to life. You can always tailor your offerings to meet the demands of your target market, but it’s not that easy to sell something that doesn’t hit the mark.
This is where market research comes in. As you learn more about what motivates those in your market, you will learn how to best present your brand and its offerings to gain interested prospects. From the type of content you produce to how you promote your brand, understanding the ins and outs of who you are targeting is key to attracting more leads.
In addition to identifying the needs of your ideal client, you should also learn what methods your competition is using. What interests potential customers about the other options in the market? Where could they see the most value when they are sailing?
Put yourself in the shoes of your ideal customer and follow these research strategies to strengthen your marketing approach.
Be a fly on the wall.
Many business owners believe that marketing is about speaking out loud so that everyone can hear it. But, a true marketer knows it’s more about listening than talking. Sure, you have a solid list of benefits to share, but those benefits can be hit and miss if you haven’t listened to your market. Spend time sitting down and listening to what your audience is saying.
Join Facebook groups and browse forums where your ideal client is hiding. If there’s one thing people love to do on social media, it’s complaining! Introduce yourself and listen to their biggest problems and challenges, letting this information inspire you to find solutions. You may choose to participate in the speech to ask questions and come up with your ideas, or you may be inclined to watch from the corner. Whatever approach you take, make sure your active ears are ready to listen!
Interview your network.
For more direct feedback, use your existing network by asking for feedback from past and current customers. Ask them what made them choose your business, if they were interested in your competition, and how you helped them solve their problems. You can also ask for feedback on your customer experience to see if you can improve it in any way.
As you listen to your network members, you may find that you have never factored your main selling points into your marketing strategy. Your external post may be about top-notch quality and a specific aesthetic, but you might find that it’s your quick responses and attention to detail that wins your customers over. With your new information, you can tailor your message to meet all of your value propositions.
Keep an eye on your competition.
A smart business owner is knowledgeable and being aware of what your competition is offering in the market is essential. This is not for replication purposes, but rather to be aware of what your ideal customers are exposed to when they seek help. Who are you against? How can you come out on top?
Suppose you are a florist with personalized arrangements filled with exotic flowers and a special hand-picked binding. With your luxury service comes a luxury price, putting you at the next level in your market. Your competitors may be cheaper, but they don’t offer the high-quality sourcing and experience that your brand is known for.
Knowing your strengths and weaknesses compared to your competition helps you stay confident in your unique position in the market. Your business offers a one-of-a-kind experience; let it be known!
With all of this new information at your fingertips, you can take a good look at your current marketing strategy. Does your message match the needs of your ideal customers? Is your brand more impressive than that of your competition? Make the necessary adjustments to refine your approach and shape your content to resonate with your target market.
A good salesperson knows how to present their offers in the best possible light. A good marketer knows how to listen to their ideal customers and determine their greatest needs. However, a good business owner can strike a balance between these two needs, making sure that all of your offerings match exactly the needs of your market.