In a market where competition is escalating, knowing your target market is essential. Understanding your audience’s preferences, likes, dislikes, and purchase behavior is something that can make or break your campaign. This is also why it is beneficial to partner with a digital marketing agency that is familiar with the digital space and your consumer environment, to give you an edge while running your digital marketing campaigns.
At LIQVD Asia, the first step in our market research is an in-depth analysis of your past, present, and potential consumers. This mapped along with our past experiences and successes helps uncover insights that can help you enhance your product or develop marketing messages that are relatable and convincing.
That being said, here are some of LIQVD’s preferred market research tools:
1. Google Trends
Among free online market research tools, Google Trends definitely holds a high spot. You can see what others are searching for on Google using Google Trends and basically be able to tell how trending a particular keyword is. This tool was created in 2006 and has been keeping track of various topics’ popularity over time and also by location. For example, you can see just how popular Arijit Singh is this year in Indian searches. Or how Ukraine-related searches have decreased in India since August 2022.
Google handles approximately 102,000 queries every second as of this blog post. It is the largest and most valuable search data source in use with 88 billion queries performed daily.
Enter a trend, and Google will provide a line graph showing how fashionable that phrase is along with a score out of 100.
Visual data, market research studies, and statistics can all be found on Statista. It compiles information from numerous reliable sources, most of which are presented in understandable graphs and charts. You may revisit the same chart year after year to see how trends are shifting because Statista’s data is continuously updated.
No matter your industry, Statista is a terrific resource for learning about consumer behavior and market trends because it includes information on practically every subject you can think of.
It’s simple to get started with Statista by doing a subject search. You can utilize the site’s superb search feature to find hundreds of reports and dashboards that can help to assess your go to market.
Another of our favorite online tools for market research with an emphasis on SEO and PPC is Semrush. When you type a term into the keyword research box, a list of other related keywords people are looking for will appear along with information on search volume and complexity to rank. With this, we find areas for improvement by inputting our own clients’ domain or the domain of their rival to learn how SEO optimized their web pages are.
This tool also allows us to determine the size of a possible market, the level of competition inside, and our chances of ranking in it.
4. Think with Google Research Tools
Think it would be helpful to know the chances that your product would be successful? With think with Google’s marketing research tools, you may learn intriguing details like whether people are searching for your goods (Google Trends), which markets to launch in (Market Finder), and which retail categories are growing as the months and seasons go by (Rising Retail Categories).
What’s fascinating about the Think with Google Research Tools is the Find My Audience feature enables you to research what your target viewers are interested in, and what you should cover in your brand’s YouTube channel if you’d want to advertise your goods through YouTube.
5. Social Mention
Using Social Mention, we search across more than 100 social media platforms, including Facebook, Twitter, WordPress, and many others, to count the number of times our clients’ company or search phrase has been mentioned. This way we can monitor and track consumer sentiment about your brand with great precision.
Furthermore, we also use this tool to perform top quality online reputation management where we search for the brand mentions and address consumer grievances and compliments, which in turn acts as feedback for our clients’ products and services.
6. Pew Research Center
There is a wealth of free information available on the Pew Research Center website that you may utilize to better understand your target market, ranging from economic conditions to political beliefs to social media usage. The website’s interactive articles provide you the best opportunity to filter and sort through the data to get more specific, focused insights.
7. Answer The Public
Finding out what queries people are posting online is made easier with the use of the free market research tool Answer The Public. A list of queries, themes, popular search phrases, and similar topics appears when you enter your topic on the search page.
The idea here is to attract more of your target audience via search engines by providing content that covers the subjects they’re looking for. Once they are on your website, you may use any strategy you choose to funnel them into your marketing strategy.
Market research will always be regarded as a highly sophisticated method of discovering insights and solutions that will ultimately minimize corporate risk and guarantee overall success.
You can always gauge the success of your research by comparing your findings to the company’s goals. One of the main factors contributing to this achievement is the effective use of market research techniques, which when done properly, can bring forth highly valuable insights.
Having stated that, you now have gotten a small peek at some of the top market research tools we use at LIQVD Asia. All in all, these tools just serve their purpose in making our lives easier when it comes to compiling data and preparing insightful reports. What creates the biggest impact in any of our campaigns is the level of expertise that goes into crafting our strategies.
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