The Importance of Online Market Research

Doing proper online market research is more important now than ever. Good market research involves understanding every facet of your niche and the opportunities around you, from your products, to pricing, to target audience and your approach to connecting with them.

And although market research can be time consuming it doesn’t have to be something hard to do.  There are numerous tools available to help you better understand and analyze your potential market.

An important part of the market research process is being able to create different “personas” that fit your target audience and their needs. That means checking out forums to find out, what kinds of questions people are asking, seeing what kinds of products are already on the market, what needs are not being fulfilled and what the predominant demographics group is.

Useful Resources

One of the best ways to get the big picture of your market is by using some of the market research tools that are available online.

Places like: – Here you can see what books are being sold on your niche, what these books are about and what customers are saying about them. – Here you can determine the demographics of your niche. Just type into Google the main keyword of your niche and then take the #1 site that comes up on the search results and use it in quantcast to determine the demographics of your niche. – In here you can find a forum on your niche and see what’s being said, what people are talking about, what is their biggest problem, their deepest concern, what needs are not being met, etc. – This is a great place to do market research, just type in the search box something about your niche and you’ll be amazed at the videos that your target audience is posting.

And last but not least – Find the authority sites in your niche and go through them, see what products they are offering / promoting. Find niche blogs and see what is being posted in them and what people are saying in the comments.

Don’t Just Stay Within Your Circle

Doing proper market research may mean having to branch out and sample related demographics to determine the right segment of your niche.

That means going beyond your inner circle of who you “think” might benefit from your products. Going beyond who you know, helps you better determine the right “fit” for your product, and makes your marketing effective.

After doing your primary research on surveying what people are looking for and asking questions about how products could be improved, it’s time to move onto secondary research

Doing Secondary Research

Many people forget this step altogether, feeling satisfied that once they have a good amount of information to go on, they can simply develop a product and announce it to the masses and watch the money start rolling in.

But that isn’t always what happens, and much of it can be attributed to a lack of secondary research. Secondary research is research that’s already been done in your niche. It could be in the form of white papers, handbooks, existing surveys or other market research, and may be available online for free or low cost.

This kind of market research can be combined with your own findings to help you better understand you target audience and see things from other perspective.

Remember, market research doesn’t have to be difficult. There are many tools and websites that can help you with the bulk of the work. And, having done the proper research, you’ll be much better suited to create a product that virtually sells itself.

Please share your opinion about this by leaving a comment below…

Thank you

AlexThe Importance of Online Market Research

Comments 16

  1. Nat


    Great information as always.

    I’m forever forgetting quantcast. Don’t know why but simply a wealth of information.

    Thanks for the reminder.


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  2. Rene Klemme

    I have purchased your tool stealth keyword. Great tool

    A blog post with more detail about secondary research would be appreciated.


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  3. Robert Smith

    Before you step into the business world you need some serious Market Research. But only the research is not going to help you alone it has to be implemented properly with positive frame of mind and a lot of hard work too. Online marketing research survey is really necessary to know about the latest happenings in the market. This is a very simple and more effective process than the offline one.

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  4. Anto Brasta

    Same with Catherine, me also going addicted with all of your articles. Inspiring me to do the right thing, event just a little things…….

    For a newbie like me, you are like an online teacher in Internet Marketing. I learn a lot from you Alex……

    Thank you to be my Master…..

  5. Jim N Sudhas

    Just keep reminding of market research before searching for buying keywords.Thanks for the info in your blog about market research and the links you have provided.


  6. Jeffri

    Hi Alex,
    Thanks for great info, I’m sure to follow this tips. For secondary research, I normally use SKCA and lately Im using SKD, this save me a lot of time.

    Thanks for tips and software


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