05.03.06

Marketing Research

Posted in Internet Marketing, Marketing, Business at 10:00 am by admin

Market research doesn’t take a rocket scientist. Most of us do it everyday without realizing it. As a business owner, you should educate yourself in the market research tools available to you. What you learn from a little research could save your business.

Market research is the collection and analysis of information regarding consumers (potential customers), competitors (same business type), and the effectiveness of marketing programs (i.e. direct mail marketing, newsletters, signage, etcetera). It’s an act of action before leaping into a business, and an educated move that determines the feasibility of a new business.

Through market research small businesses and corporations alike:

• Test interest in new services and products

• Improve customer service

• Develop competitive strategies

Both startup businesses and established businesses need to define, evaluate, and plan a course to pursue their market. The end result of market research is a business that is more responsive to customers` needs and increase profits.

As your business develops, market research needs to be an ongoing part of your business. Anyone who is familiar with writing a business plan knows how unpredictable the market can be. Another reason why market research needs to be integrated. Three Essential Areas Market research is time consuming. Don’t let anyone fool you! And if you own a small business you’ll find time an issue. But don’t give up. Even the simple things you do like talking to a customer about what he or she wants, or chatting with a supplier is conducting market research.

Gather information from these three essential areas.

Consumer

Information from and about your customers

Feedback on the likes and dislikes of your customers

What services or products did the consumers like bestCompetition

Help you determine what works and what hasn’t worked

Give you ideas for improving

Provide insight into how to increase your marketEnvironment

Economic

Social

Political forces

All of this information shapes the way we do business. Keeping it close on hand allows you to stay abreast of and respond to particular trends or events that influence your small business.

Secondary Research Sources Secondary research sources are easily obtainable. This is information that’s been collected by someone else just lying around for you to benefit from.

Journals

Newspapers

Surveys

Telephone books

Government publications

This form of secondary research information is accessible at the library or by researching the Internet. It’s the primary source you’re really after. Obtaining firsthand information from your customer or competition is current; thereby, making it the most valuable means of market research.

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04.24.06

How to Create a Report for more Consumer Response

Posted in Marketing at 7:04 pm by admin

Most companies focus on developing a brochure, a slick 4 color tri-fold brochure with pictures, the name of their company, phone number, etc. That’s actually how people treat it It’s just a brochure with very little meaning.

It’s treated with low perceived value and usually ends up in the garbage. Most brochures developed are full of “me too” or copy focused on the company itself.

How can you promote your company or establish some type of expertise and put it into a vehicle like a consumer guide or report that the consumer will want to read?

You can develop it in an informational format. You put your expertise, knowledge, background, and years of experience down in print. In other words, a 12-page “Inside Secrets” type of report that relates to the service you want to render has a much more valuable meaning to the reader than an actual fancy brochure.

It also now becomes a book. Even if it’s a report, you can call it a book. It doesn’t matter. It’s a different look, feel, value, pages than a brochure. It also provides advice. This report will be skimmed over, read and saved or passed along to others.

You will want to treat the title of your report like you would the headline of an ad. You want to create a title that keeps your prospect interested. It should tell them what’s in it for them. It should give them a big benefit.

You’ll also want to entice them into getting a copy of it now.

You don’t want to title your book or report “Acme Company-

We Value Your Patronage” your Company For Life. You don’t want to come up with a title that gives them no reason to call you. You don’t want to put your company name in the title.

If anything, put your company name underneath the person’s name so you are listed as the author of your report or book or consumer awareness guide. You can also add a photo on the cover. This also gives you credibility and makes you be recognized as an expert in the field.

Your report or book needs to be written from your consumer’s side, not your side. It needs to be written from their vantage point. They’re going to understand that you’re educating them about the industry’s weaknesses. You tell them right away, “I know there are some unethical companies, but before you make any choices, please read on to find out the key ideas you need to know before”, etc.

You become their advocate and advise them about picking the right company. You will be perceived as “educating” them instead of “selling” them”. Try not to use the words “me”, “we” “I” and “us.” Try to use the words “you” and “your” as often as possible. -

Your reader doesn’t want to hear about your company. They want to hear about what your report can do for them and educate them. Then they’ll want to know about your company.

You’ll want to create this copy so it doesn’t look like advertising. It has to position you as a helpful friend and expert in the field. Don’t be touting your company or recommending your company.

You need to describe the actions necessary to fulfill the promise that’s in the report. For example with this headline, “10 Easy Steps to Making Sure You Don’t Get Ripped Off By A Contractor”, then spell out those 10 steps. Wet their appetite.

Tell them what to do, but not necessarily how to do it. What happens is they will contact you for more of your advice.

The final step should be to contact you for more information.

Give them a check list or flow chart of the process so you are educating them. Try not to use too much industry lingo because they may not understand it. You may even have a copywriter prepare this report.

You want to avoid using an advertising agency because they’re more inclined to do fancy brochures and try to stick in some logos and other things that really aren’t needed. You want to have it printed nicely. You want to have it professionally laid out and typeset by a printer, but don’t make it look like a brochure. It doesn’t have to be printed in 4-colors and on high glossy stock.

You can print a cover on heavier weight paper with the actual report saddle stitched (stapled) and folded. If you want, you can make the cover a different color. That’s as expensive as you want to go. You can make this report on white paper with black ink, folded and stapled in the middle.

You want to make it at least as long as necessary to convey perceived value. 12 pages is usually a good amount, double spaced. You can still fit that report into a #10 envelope if you need to.

In conclusion, there are really only two reasons why anyone does anything. It’s to gain pleasure or avoid pain. You want to be sure your report’s title appeals to either one. If not, re-write it until it does.

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