Beginner Steps to SEO - What is Market Research? (Chapter 3)
In order to have the correct marketing strategy implemented to your Optimisation work, market research is a crucial step to take in the initial stage.
Market research is the process of gathering information about your business's buyers personas, target audience, and the type of customer group to determine how viable and successful your product or service would be among these people. These are the reasons why smart business owners never underestimate market research and leverage it to creative effective marketing strategies.
There are 2 types of Market research in the market nowadays:
Primary and Secondary research.
Monitors the effectiveness of sales, existing business practices, the quality of services, and the tools used for communication. Additionally, it also assesses the current market competition by evaluating the business plans of your competitors.
Collection of already published data to create a company database that helps in situation analysis. It devises strategies for benchmarking, and helps in determining the market segments that a company should target.
Having a detailed Market research helps you to identify the members of your audience and the base of competitors that are conducting their own buyers research about products and services similar to those you sell. It also tells you what is trending in your industry, what your target audience and customers want and need out of products and services like yours, and what are influencing their decisions to convert and buy.
If you are serious about improving search engine ranking and website traffic or eager to find out more about SEO, HERE is where you can begin with.