Marketers of all kinds understand the importance of data. After all, without data, we could not formulate an action plan upon how best to achieve our marketing goals.
The only problem with marketing data is that there’s just so gosh-darn much of it that it’s hard to determine a starting point when conducting market research. Start by analyzing the type of data you want and what you plan to do with it. For example, if your goal is to sell a ton of products in a retail store, then basic keyword research might not be of much value to you. However, if your goal is to sell a ton of products on an e-commerce site, then keyword research would be valuable data to indicate which products you should sell.
The first step in market research is to find the data that you need that will prove invaluable in achieving your marketing goals.
Types of Marketing Research Data
There are so many types of marketing data that it would make your head spin, especially if you’re not completely well-versed in doing research for marketing campaigns. Here are some of the mainstream types of research we do for clients and contracts from entrepreneurs:
- Keyword Research
- This is the cornerstone of SEO Market Research which tells you what people are searching for, and the volume/number of those people
- Research on keywords is usually done in a couple of phases which incorporates trend research over a select period if time to indicate interest and the size of your potential audience on search engines
- Great for content marketing and exploring new and related trends to your existing website’s content strategy
- Demographic Research
- Includes analytical data of your audience including gender, geographic location, age, income, personal interests, & other semi-personable information about your audience
- Several sources reveal this data, and it’s usually embedded within your marketing medium’s tools
- Great for targeting specific content, products, services, etc to your ideal consumer, client, and/or audience
- Marketing Trends
- Usually marketing trends are indicative of whether or not your product, brand, or service will be popular based on past performance of similar and/or related products, brands, or services
- This is a broad form of data which can be drilled down to specifics depending on what you’re trying to monetize and market
- Excellent for product sales, both e-commerce and retail, as well as tailoring your content to an ever-growing market as opposed to an ever-waning one
- Product Research
- This data is indicated by a surge or a decline in product sales, including a conglomerate of data from retailers and e-commerce platforms about what products are selling, when, in what quantity, and more
- Perfect for deciding what product lines to carry, or what industries in which to invest to expand your sales
Sources of Good Marketing Research Data
Keyword research is relatively easy to obtain, but you should really start with Google’s Keyword Planner. Google’s keyword planner grants you access to keyword knowledge like keyword volume, related keywords, and even breaks down the popularity of your selected keywords over a period of time such as month-over-month. If you don’t have access to Google AdWords just yet, you can usually find another source by performing a google search for keyword tools. In fact, one of the top results on the first SERP for “Keyword Tools” is keywordtool.io, which pulls most of its data from google keyword planner directly via API… thereby granting you access to the same data with a paid account.
Demographics mining is a pretty simple data resource, especially if you have a Facebook Pixel set up or if you use Google Analytics regularly to monitor your site’s traffic along with a whole host of other important back-end data about that traffic. I tend to use Google Analytics because of SEO purposes, but if you plan to push more into Social Media PPC advertising, then Facebook’s Pixel may be the way to go to gather this data. Using Analytics, I am able to find out what content of ours is getting the most traction, as well as where our audience is located, what time they like to read our stuff, if they’re male or female, and also what social media accounts they use to stay up to date on our content. All of this data is hugely useful when planning more content for our readers and deciding exactly how to set up our funnels.
Monitoring trends by virtue of Google Trends is a great way to compare the popularity of ideas, products, and just about any other search term. This data from Google will prove invaluable in planning your seasonal product lines to sell to your potential customers or seasonal content to push out to your audience. For example, remember when Fidget Spinners were all the rage? Well, by using Google Trends, you can see exactly when they spiked in popularity, where they were the most popular, and exactly when that popularity tanked.
Lastly, product research can be achieved through coupled use of the aforementioned tool Google Trends and other online retailers that showcase their most popular products. For example, Amazon is virtually a universally recognized e-commerce store. In fact, if you haven’t heard of Amazon, I’d be very concerned that you aren’t used to using the internet, and perhaps you should probably take a step back from digital marketing research in favor of learning about the invention of The Web. (Just kidding, of course… Everyone knows about Amazon!) If you’re looking for product data, just go to Amazon.com and check out their list of the most popular products. In fact, on your main dashboard after logging into Amazon is a list of “the Most Wished-for Items” separated out by category. This data tells you what’s hot and what’s ready to move, which certainly helps you stock up on your inventory before plotting out a campaign to get some sales or conversions. Furthermore, your can view and read reviews of Amazon’s products so you know what roadblocks your potential customers will present before deciding to purchase your inventory or from you as a retailer/e-commerce vendor.
Contact us at AZMO Marketing for a Digital Marketing Consultation
This very succinct list is just a jumping-off point when starting your marketing research. After all, marketing research as a term in-and-of-itself is very broad and will likely result in you using a multitude of sources before settling down on a particular marketing strategy or focus.
If you’ve only just begun your marketing research or you don’t have time to do it because you’re too busy running your business, brand, or organization, contact the experts at AZMO Marketing today for a consultation on how we can best put our data mining practices to good use for your or your business’s goals!