Importance of Market Research in Digital Marketing

Digital marketing is an dynamic puzzle that the marketers are trying to solve constantly. Isn’t it?

If you’ve just started a business, you must optimize to increase website traffic and generate sales leads. So, understanding how the market response you and identifying your competitors you need to shape it so it will be successful in the long run.

What is market research?

Market research or digital marketing research whatever may be, this helps you better understand your market and who comprises your potential customers. It also determines their interests, problems and basic needs.

Market research – It is a process of gathering essential information about the preferences and needs of customers. It gives all businesses an analytics into the profiles and spending habits of customers and provides organizations with the information necessary for making right decisions.

Digital marketing is the method of promoting a brand, or a product, or a service through online media, such as the internet. It enables businesses to determine their marketing strategies in real time scenario and figure out how it works and what needs to be improved. Always be honest about your business or brand awareness.

So, now we need to find about market research for digital marketing.

Conducting market research was very time-consuming and expensive too and now market research has gone into mobile. It capitalizes on the widespread use of different devices, such as smartphones, to ask queries, polls, and analyze product reviews. And social media, is a platforms to discover recent trends and reveal more information about customers.

So, market research in digital marketing means businesses have several ways to improve their style, content, strategies and conversion rates eventually.

The Impact of Market Research on Digital Marketing depends on below things:

• Finding Your Niche
• Who do you help
• What solution do you provide
• Why should people need what you have
• Knowing Who Your Audience is
• Who can most benefit from my solution
• Who is willing and able to pay for it
• Who is actively looking for my solution
• Their Strengths and Passions

A way that market research can improve digital marketing

Know your audience. One strategy is when conducted through social media platforms, lets observe the customers and learn their language. Segment your audience. It helps to speak to their customers in a way that connects and in turn, there is a high chance that customers can click through to a webpage and making conversion as much as possible.

Second one is, know the customers what they like or dislike through social media channels which helps businesses to identify major influencers in a particular customers. Always tailor your message to them.

And here, digital marketers can do well to build a good relationships with these customers.

The digital market research strategies is, it makes use of tools that help businesses collect data about their customers and there are several tools that are available to enable market research teams to analyse of their business, relevant keywords and even their competitors also.

For e.g. SurveyMonkey – Market research services for all your survey needs.

The Importance of Market Research in Digital Marketing

Businesses won’t achieve success in digital marketing if they don’t do extensive market research first and there is a thin line between success and failure how market research is conducted. It gives marketers the high and accurate chance to get important data that can help them in planning the correct strategy to ensure their business’s digital marketing success. As digital marketing is becoming more popular day by days, the importance of market research has never been so significant.

Identify your target audience first – First benefit that digital marketing has the ability to reach a wider range of audience that is compared to traditional marketing where market research comes into play this time. This helps you to identify your target audience better.

So, where are they most active online?

Know the Digital Areas You Should be Active In – Once you can identify which online platforms or social media your target audience usually uses, you can further take next steps for marketing and advertising and effectively target the customer you want.

Competition study – Market research on online marketing is a way you can determine what the competition is doing right and wrong in terms of digital marketing. So, you can identify the gaps your competitors are not able to get and by taking advantage and learn from their mistakes and later come up with a new and better strategy, or improving on their efforts.

Identify Key Influencers – This helps you to identify key influencers like celebrities, bloggers and social media stars those who you think are the most relevant customers to your brand and, with proper internet marketing research, you can be able to make it an effective tool for encouraging and influencing more of your target customers to try your brands or businesses.

Use social media to research leads

Facebook is a very user friendly market research tool which is very cost effective and reveals user engagement. It can help determine how your target audience behaves.

If you have a business account in Facebook, you can get access the audience’s demographic page where you can filter your research by gender, age, page likes, location, activity, household, purchases etc. so you can determine different scenario for different target audiences which allows you to determine your customer’s thinking.

For e.g. Facebook Ads platform lets you create custom ads. You can target very specific groups or you can create custom audiences also.

In Digital Marketing how to Use Market Research Techniques?

In digital marketing the first thing that will come in your mind is “How to conduct market research?”. Right?

You can consider below market research about digital marketing techniques when crafting a campaign.

Market Tuning: As the lot of market research is listening, it has never been an easier than in our current digital era. Monitor what the terms consumers use. The places consumers gather. Identify market trends. Create detailed buyer personas.

Audience Targeting: Listen to your consumers. Start to segment and target them in personalized ways what likes and dislikes. Learn when and how to place display banners, targeted ads and information through emails and offer them specialized free content.

Tracking Competition: Researchers can track message response rates, website and mobile app traffic and other channel views. This provides you a different ways to be proactive in your prospective digital endeavors. A quality market research can enhance your digital marketing efforts and promote engaging relationships with a customer in an digital world.

Digital marketing strategy in Market Research Industry

The Importance of Market Research in Digital Marketing is Industry has been changing now a days as the new entrance comes in the form of a competitor they old industry tries out to be unique always that is the only way of getting profits to the digital market research industry.

• Search Engine Optimization (SEO)
• Content Marketing (Blogging & Article Writing)
• Content Offerings for eBooks, Whitepapers, Webinars
• Email Marketing
• Social Media Marketing
• Pay-Per-Click (PPC) Marketing
• Video Production
• Website Design A/B Testing
• Landing Page Strategy
• Call-To-Action Strategy
• Link Building/Earning
• Infographic Design
• Lead Nurture Strategy
• Public Relations (PR)

Here are Market Research Tools You Should Be Using:

• Google Keyword Research Tool
• Google Analytics
• Google Trends
• Tableau
• Think with Google
• Google Scholar

Here are some online tools you can utilize to see your competitors site behavior:

• Ahrefs
• Buzzsumo
• Moz Open Site Explorer
• Sprout Social
• SimilarWeb

There are a lot of different ways by which you can reach your audience and in digital marketing, this will continue to evolve, but remember, if you are looking for different ways to just get started don’t forget to segment, track and test. So, in market research – do market research like a pro or for a professional Market Research – Hire a Pro to Do It For You.

Originally published on https://www.reblogit.com/importance-of-market-research-in-digital-marketing/