Use These Methods to Keep Your Target Market Research Fresh
Trends and technology have shifted quite a bit over the last few years. Now is a good time to discover whether your current target market research is still relevant to your niche.
According to Hubspot, 75 percent of mobile users are still using search engines to find information. And 73 percent of customers will unsubscribe from a business that sends out too many emails.
Conditions and technology are always in a state of flux, which makes research an ongoing process. It’s important to keep track of the latest on social media and in technology in order to not become out of date with your audience. Here are a few ways your brand can keep in step with the latest trends and continue to reach out to your audience.
1 – Keep a Monthly Research Schedule
Each month your business could invest in software that tracks your audience and the newest content trends in order to track your market on a frequent basis. This is especially important if you have a new product to launch or an update for your brand coming up. The more consistent you are, the better your results will be with the use of precise tools that can provide frequent alerts.
2 – Provide More Value
Your customers want to know how you can best meet their needs that the competition is not offering them. Updated research will help you offer high-value products or services at a competitive price. Through consistent communication and audience feedback, you can also discover better ways to help them solve their problems.
3 – Connect With Your Community Online
There are many ways to keep your audience in the loop. These include:
- A strong social media presence
- Daily interactions
- A company blog
- Surveys
- Interacting in specific social groups related to your business in places like Facebook and LinkedIn.
Live video and chats are quickly becoming more popular with users, as are stories on Instagram. These newer methods can help you to connect with people right away for instant feedback.
4 – Focus on the Right Segments
Who is specifically purchasing your products or services and why? Make sure that you are dividing these into different groups depending on the type of transaction, the geographical location, whether this is a new purchase, the age and gender of the buyers, etc. This type of information will enable you to introduce something to your customers that they may not have considered before, and would be most likely to buy.
5 – Monitor Your Competitors
Find out where your target market is purchasing from, what their feedback is and how much they are paying. This will help you determine whether your business can offer them something different or even a better price that is enticing. Social conversations are especially good for tracking reviews on brands and what consumers are looking for.
6 – Reach a Wider Audience with a Responsive Website
Hire a web developer and designer to ensure that you are reaching a mobile audience on various devices. Your content should be original, specific to the needs and desires of a specific niche, and current. A website that is developed to meet the demands of the latest technology will garner the most engagement and increases your chances of a potential buyer taking action.
7 – Take a Look at the Data
Use software to take a look at the actual data, as well as information on consumer actions, feedback, and the latest trends. This will help your business go beyond just statistics and consider all of the various scenarios that can affect a buyer’s purchase decisions.
Your target market’s preferences will not be the same as last year, and the products or services they loved before may not be in demand anymore. Companies that stay on top of the latest trends and technology are able to retain their clients while growing their sales into the future. The best marketing decisions are based on hard data collected directly from your target market research on a regular basis.
Over To You
Are there any forms of research not mentioned above, that you think your fellow readers should know about? Please share in the comments section, below. Thanks!
You may also want to read: How To Identify and Understand Your Target Market
Improve Your Customer Reach Through Target Market Research
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Susan Gilbert
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