Market Research

The purpose of market research is to provide relevant data to help solve marketing problems the organisation may encounter. Research is one of the cornerstones of developing a sound online marketing plan.
The internet is very competitive. Therefore knowing your competitors is even more important than it has ever been.
1.0 Who are your major competitors?
2.0 What online channels are competitors currently using? How do competitors
“talk” to the target market? Examples would include;
2.1 Website
2.2 Email marketing
2.3 Social Media such as blogging, facebook, twitter and so on.
3.0 How fast or slow are competitors implementing online strategies?
4.0 How often do competitors launch websites or other online channels?
5.0 What do competitors do better than you?
6.0 What do you do better than your competitors?
7.0 Do your competitors have a marketing department?
8.0 List the source code meta tags used by your main competitors, title, keyword and description meta tags. Whilst the keyword meta tag is not used by the major search engines it can give you an insight in to what competitors see as relevant keywords, keywords you might consider in your body text.
9.0 List the top 5 hits when you do a search online for the products and services you offer. Use those results to see what competitors are doing and what you might be able to do better.
10.0 Describe your current customers?
11.0 Why do your current customers buy from you?
12.0 Are there customer segments that you could tap into online that you may not be targeting?
13.0 Are there market segments that you no longer want to target?
14.0 How big is the market for your products and services?
15.0How would you describe your current market position? For example, do you want to be in the higher price range for your products and services or in the more economical price range? Which of the two offer the best returns?
16.0 If you have a website at the moment
16.1 What features of the current site would the company like to keep?
16.2 What features of the current site would the company not want to keep?
16.3 How many people visit your site?
16.4 When do they visit?
16.5 Where do they visit from? for example, local, interstate, overseas
16.6 How long do they visit? How long do they stay on the site
16.7 What products services or pages within the site are most popular?
16.8 What feedback have you received regarding the site?

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