Tracking the Digital Footprints
When most new entrepreneurs think about market research, they imagine questionnaires and focus groups. There is nothing wrong with that, is there? I mean, it appears on the curriculum for Marketing 101. However, focus groups and questionnaires are time consuming, relatively expensive to conduct, and not very accurate. We all know that people don’t really say what they are truly thinking in focus groups and questionnaires.
For start-up entrepreneurs, these old school methods are out dated. There is a better, and for the cash conscious, a cheaper way. Remember the old saying “actions speak louder than words?” The same applies to doing market research for a new business. Observation is where it’s at. Proper desk research using the Internet will reveal a huge amount about your target market. More and more methodologies and tools are available for you to find out what your target audience is really thinking and doing.
It’s like a hunter following animal tracks in the forest. You are following digital footprints left by your target demographic online.
Using a combination of keyword research, ad planning systems, alexa, backlink research, forum research, business analysis, website analysis, news searches and simply asking questions, you can reveal a staggering amount of information that will really assist you in setting up and positioning your new venture in the marketplace.
Observation can help you understand a lot of things. It sounds easy, but are you prepared to open your eyes?
Its very informative post about digital footprints.I also believe that observation can help to understand a lot of things as I also observe things.
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