Market Research for Business
Managing Director of anotherfriend.com
Gráinne Barry is Managing Director of anotherfriend.com – a hugely successful online dating website. With nearly 500 marriages and lots of engagements announced since it first set up, Gráinne surely has the magic touch. Here are her top tips on how market research can benefit your business.
Market Research and You
Knowing what makes a good idea
Market research is vital for any business venture as it will mean a greater understanding of the market which you plan on entering into, your competitors, and your customers and their wants and needs which aim to be filled by your product/service.
Are there tools to help with market research?
Watch the video below to see some of the many tools available to you for conducting market research, and advice on how best to use them.
Market Research Tools
Improving your business
How can research advance my business?
Research, provided by a number of freely available tools, can help drive and boost your overall business;
- Survey Monkey – Free online survey and opinion poll service. Easy to create surveys and get feedback.
- BizStats – Free business statistics and financial data for various industries. The site als provides tools for profit – risk ratios and business valuation tools.
- Socialbakers – Free online statistics on social media networks.
Market Research and Your Business
How do I put market research into my model?
Market research can provide a wealth of information, whether you are starting in business or are an established company. Such benefits include:
- Greater insight into the wants and needs of your target audience.
- A database of consumers which can be put to use via CRM.
- An understanding of the competitors in the market.
- A focus for your business in helping the growth and development of your overall business or specific products/services.