How To do Market Research Online - Expert Guide

One on the most underrated but yet important task every blog owner needs to perform is doing extensive market research. I don`t know why online marketers are so lazy to do this job as it is such a simple and straight forward task, with the use of  big search engines like Google, MSN and even Yahoo.

How to do market research the right way has some benefits so in this blog post I am going to share with you the most important ones so that you can start to understand, why laying the right foundation for your online business is so important  for it`s future success.

How to do market research, online must not be a complicated task really and now let me share with you some of the simple but yet effective methods you can use:

  • Go to you’re the nearest Library in your local area.
  • You can hire someone to manually count the number of customers you are getting.
  • You can also do your market research online with the use of the Internet.

Here are 5 reasons, why it is so important that every Blog owner need a though market research.

Market Research will help you to find out who your potential customers are.

If you want enter a certain Niche market if is very important  to do market research as it will help you to find out who your potential customers are and what kind of challenges they are having, and how best you serve them. One of my favourite online tools for doing this is a Keyword research tool called Market Samurai. This is a paid tool but you can join them for a free version, which is not as complicated as the paid one but still it can do the job.

It will help him or her to determine the need for the product or service they want to provide.

This is a good thing indeed as you will know is advance whether there is a likelihood of your product or service to sell or not. This will save you time and money, as there is nothing  bad and disappointing  like working very hard for 6 months or so, creating a product only to find out  on launch day that it won`t sell.

Target the relevant location and the correct market demographics.

Doing market research will help you in knowing and deciding the best action plan you may use that will, bring the kind of results you wish for.

You will be able to know and decide the best marketing campaign you need to employ, in order to serve your future Niche market best.

Give you power to know where your potential customers hang out.

Do you Know this famous fishermen saying? “If you want to catch a fish, you must not go where the other fishermen are, but instead go where fishes are.”

Majority of online marketers, don’t do market research when it comes to creating products or services or even their website posts. I don`t know whether the problem is laziness or ignorance, but what I know is that, they just copy what they deem to be the hottest trend or follow the advice of the online marketing gurus without doing their own due diligence.

Will help you to Spy on your competitors.

You can know how many visitors your website or Blog will get per month, by just reverse engineering your competitors website. Then you will plan on how to improve that kind of results they are getting or tweak one or two things to improve conversions rate. Market research is a good thing indeed.

Make real passive money, while your competitors are complaining on online forums.

That is why if you can frequent many online marketing forums you will many of them complaining, about how they have been scammed after they have invested their hard earned cash in buying this marketer`s and that marketer`s products. I am warning you in advance so that you can know that it is very important to do your own market research. No wonder there is so much failure rate in running an online business.

The trick is to do your due diligent and do proper market research, as this is very important for your online business success. Let me repeat it again, without doing a proper market research what ever product or service you intend to provide online and make a living out of it, is doomed for failure even before you start it.

Thank you for reading my Blog post about doing proper market research. Please don`t hesitate to leave a comment as I am looking forward to reading them. You can share this article with your friends of Face Book or Twitter or even Digg, as it has the potential to help someone.

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