MARKET RESEARCH FOR SMALL BUSINESSES
A J AB S A M RAI ha s c e me nt e d hi mse l f a s one of t he mos t a wa r de d c r e a t i ve s i n t he wor l d, with over 300 pr of e ssi ona l c omme nda t i o n s an d a wa r ds t o hi s n ame.
M
arket research is often thought of as the preserve of big business, as it can be a costly and time-consuming process. However, smaller businesses, with much smaller budgets, can also carry out market research in a leaner and more cost-effective way.
MARKET RESEARCH FOR SMALL BUSINESSES
T
here are a number of times in the business life-cycle when market research is most important to understand if a business idea is viable – such as when moving into a new market, launching a new product or service, or applying for funding.
Performing Market Research It is important to remain focused when performing market research, concentrating only on the most important topics and key questions. It is also important to do the research ear-
ly, well before trying to sell to a new market or launching a new product. Keep the focus groups and surveys small, focusing on existing customers, as this is the most inexpensive yet effective way of gathering information. Another way to keep costs down is to check for existing research – as someone else may have already asked the questions you wish to know the answers to – and thoroughly scan through forums, blogs, vlogs and social media posts for customer feedback.
For further information and marketing tips for small businesses, visit the blog of Ajab Samrai.
AJAB SAMRAI has cemented himself as one of the most awarded creatives in the world, with over 300 professional commendations and awards to his name.