When you’re starting a new business and have no idea what you’re doing (i.e. when you have no training in marketing or research), your first instinct may be to hire a professional marketer and research expert.
However, as the founder of your own company, it’s important that you take ownership of these roles yourself at least until you can afford to bring on an in-house marketer or outsource this work to an agency.
In this post, I’m going to share some advice that I wish someone had told me when I was getting started, including how to quickly become an accidental marketer and research expert so you can focus on making your business a success!
| Key Takeaways |
|---|
| 1. Embrace the Power of Storytelling in Research |
| 2. Develop Skills to Analyze Consumer Behavior |
| 3. Learn Various Types of Marketing Research Methodologies |
| 4. Gain Expertise in Data Visualization and Interpretation |
| 5. Stay Curious and Adapt to Rapidly Changing Market Dynamics |
Use The Right Tools
An essential tool to use is your brain. You can use all the other research tools and still not be effective if you’re not putting your thoughts down on paper and organizing them into a plan of action.
Make sure that you have a firm grasp on all of your ideas, then start using the right tools to help turn those ideas into reality.
There are many different kinds of tools available to marketers, but these five types are among the most important:
Social media analytics – Use social media analytics to gain insight into the conversations surrounding your brand or product category in real-time; this data can help inform future campaigns and marketing strategies.
Competitive analysis – Use competitive analysis software (or manually) to identify strengths and weaknesses.
Opportunities and threats for yourself as well as competitors so that they’re never left out of account when making decisions such as where best to spend advertising dollars (or whether).
Email marketing tools – Email marketing tools let senders track metrics like open rates or clickthrough rates so that messages aren’t sent until they’re optimized for maximum impact;
These metrics also provide valuable insights into how well each campaign has performed over time so that similar ones can be improved upon before sending next time around.”
Harnessing the power of storytelling in marketing research allows us to connect with audiences on a deeper level. Through narratives, we can uncover insights that traditional data might miss. Dive into our guide on The Power of Storytelling to explore how stories shape effective research strategies.
Talk To Natives And Fluent Speakers
The first step to becoming an accidental marketer and research expert is talking to natives and fluent speakers. To do this, you need to use the right tools.
You can monitor your KPIs using our Data Analytics platform or even use Google search trends for your keyword research. Learn how to create effective surveys, discover your unique selling proposition (USP), and understand your demographic through research and testing.
Here are some steps on how you can talk with natives:
Find out if there are any events or conferences happening in the area where you want to draw attention from potential customers.
If not, find out what organizations are hosting these events as well as their contact information so that you can send them an invitation letter asking if they’ll be willing to include a booth or presentation from XYZ company during their event/conference this year (or next year).
Contact local schools and universities near the location where you want people attending these events/conferences
Try reaching out via email instead of phone calls; it gets frustrating when someone calls but doesn’t leave any message!
Monitor Your KPIs
As you are working on your marketing strategy, it is important to monitor your KPIs. KPIs are key performance indicators, which are used to measure the success of your marketing activities. There are many different types of KPIs, but here are some examples:
- Conversion rate (the percentage of people who complete an action)
- Cost per conversion (the cost divided by the number of conversions)
- Click-through rate (percentage of clicks on a link)
- Bounce rate (percentage of users who visited one page and exited)
Are you intrigued by data analysis and consumer behavior? Delve into the journey of how to become a Market Research Analyst and master the skills needed to decode market trends, gather insights, and contribute to informed business decisions.
Learn How To Create Effective Surveys
Surveys are a great way to gather information, and they’re a good tool for market research. Surveys can be used to gather information about your customers and the target audience that you want to reach.
You don’t need an expensive service or software, either: there are many free survey tools available online that you can use as part of your research efforts.
Discover Your Unique Selling Proposition (USP)
Your unique selling proposition (USP) is how you stand out from the competition. It’s what makes you different, and it’s also how your customers will see you as an authority in your field.
Discovering your USP is important because it will help guide every step of marketing strategy moving forward from content creation to paid advertising and beyond.
Your USP isn’t something that just happens overnight; it takes time, research and analysis to figure out who you are as a brand and what makes your business different than other companies in the same space.
The Super Bowl isn’t just a game—it’s a marketing battleground. Curious about the strategies behind successful campaigns? Our comprehensive Ultimate Guide to Super Bowl Marketing Research dissects the techniques brands use to score big during this high-stakes event.
Understand Your Demographics Through Research And Testing
Now that you know who you’re selling to, it’s time to figure out who they are.
To do this, we’ll be using a technique called market research. Market research is like detective work and puzzle solving all at once and the results can be very satisfying! Here’s how it works:
Identify the problem or need that your product or service solves for people in your demographic.
For example, if you’re creating an app for teachers and want to know what their biggest challenges are as educators, ask them!
If possible, use social media groups (like Facebook groups) where teachers can communicate easily with one another online; but if not available there, try making a survey using SurveyMonkey (or other similar site).
You’ll want this information when designing your marketing campaigns later on down the line (see next section).
They will actually help solve problems instead of just saying things like “you need me!” which doesn’t solve anything besides making people feel good about themselves (which isn’t necessarily bad either!).
Do the Math on Ad Campaigns and ROI
The first step to becoming a research expert is to understand how to calculate the return on investment (ROI) of your advertising campaigns.
The basic formula for ROI is:
(revenue – cost)/cost = return rate
For example, if you spend $100 on an ad campaign and generate $150 in revenue: ($150 – 100)/100 = 50% ROI.
Look At The Future Of Your Industry
When you look at the future of your industry and think about what it could be like, it’s important to keep in mind that things will change. No matter how much you do to predict what will happen, there are always going to be surprises.
There could be new technologies invented or a competitor in an unexpected place that wasn’t there before.
When thinking about this question, I’m reminded of a quote from Ray Kurzweil: “The pace of change is accelerating.”
This means that if we’re not careful we can miss out on something great because we were too busy trying to predict the next big thing instead of enjoying today’s technology!
If you don’t want this sort of thing happening to you, then please don’t start looking into whether or not your product should go 3D until after it’s already been released into stores everywhere!
Marketing research isn’t one-size-fits-all. Explore the landscape of research methodologies with our breakdown of the different types of marketing research. From qualitative to quantitative, discover which approach aligns with your business goals.
Don’t Just Hire Any Marketer Or Content Creator
Don’t just hire any marketer or content creator. It’s important to find someone who fits your company, industry, target audience, goals, and budget.
For example: If you’re a large company and want to create an infographic on how to use social media as part of your marketing strategy.
Then it doesn’t make sense to hire someone who specializes in creating videos or podcasts because they do not have the skillset required for this particular project.
So think about what kind of content you want to be created? Do some research into what type of person could create this type of content best?
And if that person is based overseas then make sure they know what time zone would work best for them so that there are no timezone issues when communicating with them via email etcetera.
Be Honest In Business
Honesty is the best policy.
If you can’t be honest, don’t do it.
A lot of people don’t realize that this is a real thing and not just some slogan on a poster in your cubicle. But it’s true being honest will take you far in any industry, whether you’re trying to build a personal brand or not.
Get Into Their Headspace Or Personas
Personas are a way of understanding your customers.
A persona is a composite sketch of a segment of people who fit the same demographic profile or share similar characteristics.
You can create personas by looking at data and talking to customers, then condensing all that information into one single character. This helps you understand your potential audience better, which in turn makes it easier for you to create content that appeals to them.
You Don’t Have To Do Everything Alone
Hiring people that can help you with the things you don’t know how to do is a great way to get more done in less time. Some of them include:
A marketing agency that can help you with your SEO, PPC, and social media campaigns. (The one we use is called Link Haven.)
A consultant can help you determine which channels will work best for your business and how much money they’ll cost.
A freelancer who specializes in research or analytics or whatever other area of business development is holding your company back from success.
Ready to embark on a research journey? Follow our step-by-step guide to conduct market research in 14 easy steps and uncover valuable insights. From defining objectives to analyzing results, this guide covers the essentials of effective research.
Conclusion
I hope you learned a lot from this post and feel more confident in your marketing abilities. If you’re still nervous about starting out, remember that there are tools to help you with these processes.
For example, the best way to get started on creating surveys is by using an online service like SurveyMonkey or Typeform. These sites will help you create questions, send out invites and much more not to mention they offer free plans!
Further Reading
Seek – Career Advice: Market Researcher Short Description: Learn about the role of a Market Researcher and discover the skills, responsibilities, and career path associated with this field.
Indeed – Career Advice: How to Become a Market Research Analyst Short Description: Interested in becoming a Market Research Analyst? Find out the steps you need to take, from education to gaining practical experience.
Product Marketing Alliance – Starting a Product Marketing Career Short Description: Ready to dive into product marketing? Explore valuable insights and tips on how to kickstart your product marketing career successfully.
FAQs
What is the role of a Market Researcher?
A Market Researcher gathers and analyzes data about consumer preferences, market trends, and competitor strategies to help companies make informed business decisions.
How can I become a Market Research Analyst?
To become a Market Research Analyst, you should pursue relevant education in fields like marketing, statistics, or business. Gain practical experience through internships or entry-level positions and develop strong analytical skills.
What steps should I take to start a product marketing career?
Starting a product marketing career involves understanding customer needs, crafting compelling messages, and collaborating with cross-functional teams. Acquiring skills in product knowledge, messaging, and market research is crucial.
What skills are important for a successful career in market research?
Strong analytical skills, attention to detail, effective communication, and the ability to interpret data are essential for a successful career in market research.
How does product marketing contribute to a company’s success?
Product marketing ensures that products are positioned effectively in the market, targeting the right audience with the right message. It bridges the gap between product development and sales, driving customer engagement and revenue.
Costantine Edward is a digital marketing expert, freelance writer, and entrepreneur who helps people attain financial freedom. I’ve been working in marketing since I was 18 years old and have managed to build a successful career doing what I love.