Aug 19th 2022

Leveraging Market Research to Build a Great Website

Business owners who understand the value of market research are a step ahead of the competition when it comes to making impactful business decisions (website design, product lines, how to conduct marketing, service offerings…). If you want your business’ website to make an impact and be effective, learning how to gather and use market research needs to go at the top of your “to-do” list. TechPeer can help you take the blocks and build something great.

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Benefits Of Market Research

When you think of your business, you may think of the founder or CEO as the boss. But guess who the real boss is... Sam Walton said it best, “There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” Because of this, you need to make sure you are meeting their needs. Conducting market research can provide critical information about your market, identify your target market, and ultimately help you structure your business, and website, to reach your customers.

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Business owners want to grow their business and be successful, but the right path for achieving that isn’t always clear. Market research can help to identify opportunities, which are favorable external factors that could give you a competitive advantage. These opportunities, coupled with your strengths, can put you ahead of your competitors. In addition, those are the things you may be able to highlight in your product offerings and marketing strategy!

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Why Leverage Market Research

Market research can help you to identify where your brand stands in relation to your competitors, especially in terms of their online presence. This can help you in defining and refining your communication strategy, so you can hone in on what metrics you should be tracking to determine the interests of your target market and how well your message is being received. Market research can help you to develop authentic messaging that will resonate with your target audience and get the conversation started about your brand and offerings.

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Understanding the competition in your marketplace is crucial if you want your business to survive and thrive. Market research not only tells you how your message is being perceived, but also how that of your competitors’ is seen. For instance, when you go to a competitor's site, does it evoke an emotion in you? Does your site do that? Listening to this, coupled with reading social media commentary, browsing review sites such as Google, and getting feedback from friends and customers on both your and competitors sites, can shape your strategy moving forward. Seeing what others have done, both successfully and unsuccessfully, not only allows you to see what you should include in your site but also to figure out ways to stand out.

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Now You Must Act

Gathering market data is one step, but now you must utilize this data to push your company forward and be competitive. When you’re getting ready to make changes to your digital presence, such as a visual redesign of your website, increasing functionality with an online store, or a complete content refresh, you want to be sure those changes will be impactful and increase your market share.

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At Techpeer, we offer a variety of ways to help you turn your market research into a robust digital presence. Contact us to learn more about how we can help.