Market research will guide you in determining where you can market most effectively and efficiently. You can set your sites on the right geographies, client types, and market sectors that will add to your bottom line. We’ve said it before, and we’ll say it again: Any source can be useful. Put the work in and use your business network to get started on market research. When your strategy session comes rolling around, you’ll be glad you did.
Here are our weekly tasks to keep you on track with your market research:
- Gather contact information for your top 5 target clients for each market sector. Create a list of all target market sectors and the top five clients your firm desires to research in each market sector. Gather contact information.
- Create a list of information-gathering questions for each market sector. Brainstorm with technical staff that have knowledge of these sectors.
- Contact these entities. Listen and write down their answers to your questions.
- Compile the results of the answer to the questions, by market sector. What themes and/or commonalities do you find? How can they be addressed?
- BONUS: Obtain all CIPs for target public entities.
MARKETLINK's Introductory Guide to Market Research