Market Research – An effective tool to boost online sales!

Using market research as a tool to improve the online presence of your website involves some key factors. Before noting these factors, we should remember that market research and the website design activity goes hand-in-hand. We should focus on both market research and website design as a single activity rather than two different activities.

Let us take a look at the entire activity

1.     Website design

Website design is a comprehensive activity and it makes sense to conduct it in a sequential format. We should prefer doing the independent activity first and then go on doing the dependent activity. For instance, thinking about what should be done first –content writing, SEO strategy building and execution, product development or implementation of the web design technology. Agreed, that some of the activities go on simultaneously, but imagine a scenario where the website designers do not have a clue about what technology to implement? And the content writers are waiting for the designers to finish work for them to start their own work.

2.     Select all the relevant technology – ‘Market intelligence, Web design software&Content management system’ to name a few tools.

3.     Competitive Intelligence

The web design team should not simply copy the competitors who are already successful. By this I mean, the workforce should be able to do work that is tailor-made to your products and serviceswhich are ideally at par or even better than your competitors. In case you are a new entrant, copying competitor success may lead to your success but the important thing is to learn from the competitor’s success. Otherwise you may fail even before your competitor fails!

4.     Knowledge and awareness of the workforce

It is good to be able to envision your prospects that can be converted into long-term customers; but it gets better when you have a team that can work by global industry standards and most importantly work according to the need of the day! The need of the day is ‘create the product need in the customer mind-set’. 

5.     Market Research

Market research is one of the most important activities for any business. Before you start a business you should know the market. Market consists of everything that will improve your business. Market consists of Internal (Human resource, Technology, Vision and Mission of the company)and external stakeholders (Compliance, Suppliers, Customers, and Competitors).

6.     Business Plan

Now, after doing market research, we need an operational business plan that will help you to leverage on the available research insights. We may have a vision and mission for the company, but what good is that, if we do not have a business plan that can be executed, to achieve the ‘company vision and mission’.

7.     Monitoring and assessment

After implementing all the activities, it is essential to assess the website user experience and closely monitor it to enhance customer satisfaction. There are various tools that can be used to monitor your own success and factors that are limiting the scope of your success. To mention a few tools – SEO analytics, SEO relevance of content, number of visitors on the website and so on…           

 

“A channeled focus like this one will help you improve your market research effort and eventually with continuous improvements, develop a better landing page content and an even better landing page navigation for the website, this will consequently  boost online sales”.

Anjali Kalan

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