Learn To (Do) Market Research Like A Professional
This is free market research checklist for online business. There are many online market research jobs available nowdays. The checklist has been inspired from them.
This questionaire will help you in understanding the customers and market of your business and the industry you belong to.
The online market research methods will make or break your business.
- Age Group:
- Social Class:
- What’s unique about them:
- Specific Needs and Lifestyles:
- Where do they hangout online:
- Where do they hangout offline:
- Brief Generalization of Ideal Customer:
- What are your primary products/services?
- Who are your primary competitors
- Are there any cannibalization issues or opportunities
- Name 5 of your competition’s greatest strengths.
- Name 5 of your competition’s greatest weakness.
- What about your competition is threatening your company online/offline?
- Name 3 trends in your industry/niche worth monitoring
- Name 3 major issues in your industry/niche worth monitoring
- Name all the major trade organizations in your industry
- Name all major Regulatory issues that you can imagine/Research.
- Name potential fines for rule breaking, and the rules.
- Name the maximum, minimum and average pricing of your product/service.
- Is your niche perceived as quality or cheap?
- What’s the general customer perception of your competitors
- Name 3 things that stand out in your mind from your competition research?
- What are the unique selling propositions of your major competitors ?
- What are your unique selling propositions?
- Name 10 bad customer service issues in your industry/niche/competition:
- Name 10 good customer service issues in your industry/niche/competition:
- What’t the major communication avenue for your competitors:
- What unique opportunities are available in communication within your industry/niche:
- Give 3 examples of bad PR from the competition:
- Give 3 examples of good PR from the competition:
On completing the checklist, it can be used to launch offensive marketing campaign in the niche.
This checklist will give your contractors, assistants and co-workers enough understanding of the market for the business. How exploit weakness of competitors and avoiding their pitfalls.
This should be re-read on regular basis like every 1, 3 or 6 months. This will help staying on track.
This is also help in tweaking steps along the way.
Now that you’ve completed this Checklist, utilize this Checklist to launched your offensive marketing campaign within your niche. It’s not enough to have this understandiing of your market, but give this data to your employees, virtual assistants, and anyone that will be working with you for your online business. This data will help them understand your strategy and think about exploiting weaknesses of your competitors while avoiding their strengths – and while they are doing the work they’ll have these understanding in the back of their minds.
Online marketing is everchanging business, so this checklist should be updated and kept fresh.
This checklist should be kept in mind while making big decisions.
Hopefully this was helpful to you. If there is anything else you would like to add or have confusion, contact me.