Market Research

Market research is the foundation of all your digital marketing success.

Market research is used in all areas within your digital marketing plan. Although you do a good chunk of your market research before building your website, market research never ends. You will be utilizing your market research for all your content strategy aspects as well as the construct of your website. When you do market research correctly, you’ll also be revealing the actual language people are using within that market. This becomes a critical component on not only what you be writing about, but also the style and the language that is spoken within a niche.

By conducting proper market research at the beginning of your online project, you are laying the foundation for solid online presence. Your overall goal of market research is to not only fully understand your competitors and get a large list of keywords that you will utilize your digital marketing, but most importantly understand the language that is used within your market, so you can effectively communicate with your audience.

Market Research is the foundation for all digital marketing

In today’s digital marketplace there is much more competition in 2018 than there ever was before. Just about every niche out there has at least some competition within that market. It is imperative that you spend the time to go through your market research and cover all the aspects that will be covered within this document.

The list of steps to market research is either to the right or below this if you are on a mobile device.

Before we get started in looking at each one of these above, I really need to point out that it is very important you chose a market that you have some knowledge about. Building content for your website and other areas of the web will be ongoing.  You should be willing to put the time and become an expert in that market, or you find somebody that can write for you.

I am very big on picking a topic you have passion behind. The reason is that you are going to need to develop content within that market and for that website for the long-term. Sure, there are ways to create small little niche sites or go after small markets for instant profits. However, that’s not what we will be discussing here, although most of these steps can be applied for any market research.

  1. Looking at your theme from the top down.

Finding the top competitors in your overall theme.

Choosing the major subtopics of your theme.

  1. Looking at your competitors inside of your major subtopics. What are they selling? What are they offering?

A quick overview of latent semantic indexing.

Looking at Google’s autosuggestion

Using a free keyword tool to get some numbers of your keyword research.

What colors site structure and typography are being utilized by your competitors.

Video Keywords and YouTube

What social media sites the most important within your market.

What problems do you see can be solved within your target market?

Using Quora and question sites for market research and problem digging

Is the market worthwhile for you to go after?

“There is your audience. There is the language. There are the words that they use.” – Eugene Schwartz

The first step in your market research process.

The first thing you want to do is go to Google.com and do a search based on the overall theme of your market. As an example, I have two major keywords that could be utilized for the theme of my website. Internet marketing and digital marketing. I been doing this a long time and I know both those keywords are highly competitive and have millions and millions of pieces of content already written within those markets. Regardless of my previous knowledge, I want to look at what are the other highly related phrases that Google pulls up on the bottom of their search page.

Go To Google.com To Start your Market Research

One of the things I want to point out is that Google has been doing something new with their search results that really gives you some great insight. When I did a search for Internet marketing, there were four key questions that came up or results within a box. They look like this:

People also ask

What is Internet Marketing?

What exactly does an online marketer do?

What are the benefits of Internet marketing?

How much can you make as an online marketer?

One of the amazing things about Google is that it gives you deep insights into the questions being asked within that keyword. These in themselves make for a great online article. As you know already there are lots of people interested in finding out more information about that question.

As you click on the down arrow button next to the question, you’ll end up getting other popular questions that were asked related to that first question. Keep this in mind as an important aspect of your content marketing strategy. People search for answers through questions. These phrases are potentially fantastic content pieces on their own.

It is most likely I’ll never rank in Google for the term Internet marketing. We are in the discovery stage of what is happening within this market at this point. We are simply getting an idea of what is going on, who are the major players and to get a top-down view of the market based on the overall theme of our website.

Searches related to Internet Marketing

internet marketing examples

internet marketing Wikipedia

types of internet marketing

internet marketing course

internet marketing jobs

internet marketing pdf

internet marketing company

how to do online marketing

At the bottom of the Google search results, you get what’s called searches related to whatever keyword you search for. Those are the phrases above.

This allows you to dig deeper into specific topics related to the theme. Usually, not all of them will be relevant to what you may be targeting. However, there may be a few you want to explore beyond the first results you can do by simply clicking on the link and following that through.

Now, one of the phrases I’m most interested in and out of the above additional eight choices is Internet marketing courses that is one of the things I will be doing here. Dr. Net.com.

Google gives what is called searches related at the bottom of the search page

When you are doing your initial market research. This is how you can start niching down and digging deeper. The idea here is to get an overview of what’s going on within that theme and how people are searching and what questions they are asking.

From your initial major theme topic search, you’ll want to start to get a feel by clicking through the relevant related searches. I highly recommend you start saving some of these search phrases that you are most interested in. As you move through the keyword research process, we will want to start to get an idea of what our major subtopics are going to be.

Now, I’m picking a major broad topic, which isn’t always the best approach. For my typical direction on what I am doing here at DrNet.com, It works. Also, I have years of experience in this industry as well.  However, it is important to dive down deeper and go within a smaller niche inside of a larger industry to have a more effective online presence. If you go to general, you will be years before gaining any traction in the search engines.

Looking at the Theme from the Top Down

The goal of the first couple of steps of our market research is doing some initial searches in Google to get a feel for the overall theme of the market. We’re looking at this point for some keywords and some questions that are being asked within the market we are targeting. Don’t worry yet about getting too specific or thinking too deeply about your site structure at this point. Right now, we’re in the brainstorming phase of our market research. You may be quite surprised at what you find and the questions that are asked within the market that you’re looking at. This can often lead to things that you had not thought about when entering this niche.

Top Down Market Research Based on Your Theme

Who are the top competitors in your overall theme topic?

One of the things you want to make note of during your market research strategy is to keep an eye out on is who are your top competitors in this market. When looking at both the keyword phrases Internet marketing and digital marketing, Udemy comes up often especially when looking at courses. I knew they were a big online education center that offers courses in lots of different areas, so I suspected they would come up.

You can utilize your competition to have already done a lot of market research for you. Study your competitors’ websites. This is going to save you a lot of time in understanding what is working within your market.

It doesn’t mean you’re going to copy or mimic exactly what they do, but it will give you some great insights as to what is going on in the market and how you might approach the market with your own unique position based on what they are doing. You can bet your bottom dollar they already figured out what’s working so it is wise for you to pay attention to your competitors. In my case, I may even look at putting my own courses upon Udemy. Or I may find out that the something on their sites within the courses under the offering that they’re lacking which gives me a unique selling proposition. Or I may see some topics that are very popular, which lets me know what people are most interested in when it comes to internet marketing or digital marketing courses.

Utilize Your Competitors Websites For Market Research

Choosing Your Major Sub Topics for Your Website

Choosing Your Major Sub Topics for Your Website

Next what you are going to want to do is get an idea of some of the subtopics for your website. Now you already may have some ideas about what the subtopics will be, such as I did. Because of my previous knowledge in this field, I already had some strong indications on the directions I wanted for my subtopics. Your already may know some of those phrases that you’re interested in utilizing, and you may start exploring those using same methods used above. However, there is a free tool online that you can utilize to help look at some of the subtopics which also leads into our discussion on latent semantic indexing.

Go to https://lsikeywords.com/ and run a search on each major subtopic you come up with. You can put up to 10 keywords in this tool. I recommend you come up with them before you utilize this tool. These terms can be generic and large subtopic ideas. As an example, for my site I would be putting in—Internet marketing, digital marketing, content marketing, market research, keyword research, SEO, social media, video marketing, google analytics and monetization.

When I put those 10 keywords into the free LSI keyword tool, I ended up getting 5000 results for those 10 keywords which give you the detailed data including search numbers, cost per click data which helps me understand the value of the keyword, and how competitive a keyword is. When you use this tool, I recommend keeping it on both as it will give you longtail keywords as well which is going to be very important when you start developing content.

After your initial research, you can take each of your major sub-topics and run them individually through this tool to get a large part of your keyword research done quickly and effectively.

When you first start developing a website you will want to utilize your subtopics as your major site themes within your overall theme. The data you find in this tool will be helpful in helping you determine what those major subtopics should be as well as giving you excellent ideas on longtail phrases that you can utilize for blog content to support your overall themes.

Figuring out your major subtopics for site structure

Looking at your competitors inside of your major subtopics

When you are doing your research on your subtopics, you’re going to want to pay very close attention once again to the competition. Most likely you are going to start seeing similar sites across these topics. Make note of them and save their websites. I would also recommend visiting those websites just to get a feel of what they’re doing and how they’re monetizing their traffic.

Whenever you are approaching a market is critical information upfront to know who you are competing against and what they are doing. It will also help in defining what you are going to do that may give you a leg up on your competition.

There is no sense in reinventing the wheel here. By analyzing your competition you will be able to fully understand not only the needs of your market, but also how your competitors are reaching them, and what they are selling them. There are even higher level ways to utilize your competition to give you a sound advantage when moving into a particular market.

Knowing your competition is high end market research data you need

A quick overview of latent semantic indexing

Latent Semantic Indexing is a  phrase that is used in which it finds the hidden (latent) relationships between words (semantics) in order to improve information understanding (indexing). It is the expert language that is used within a specific industry. It is a natural use of the language that will make sense to others interested in that particular field.

In the olden days of the Internet, you used to be able to take a keyword and simply use that keyword over and over on your webpage and get it ranked. Those days are long gone.

Without getting into all the technical jargon of what latent semantic indexing is, I’ll just say that it is a full understanding of the language that is used within an industry. Instead of utilizing just one keyword and using it over and over, you’ll write in a much more fluid manner that utilizes the language of the industry. Although you will still target one keyword for that webpage, you will mix and utilize other related phrases that are semantically sound. It will be based on the overall theme of your website. We know there are certain phrases that are important to an industry.

So when writing for the web,  we will cover latent semantic indexing in much greater detail in the content management strategy of this site, we will look at this in more detail.

Latent Semantic phrases can be found through google research

Google has a search feature inside their search engine called Google auto-suggest. When you begin typing something into the search engines in Google, you’ll notice a list of other phrases that are coming up under the one you are typing in. These are super important to look at as they are the highest related phrases people are searching for related to the phrases you are typing in.

This again give you some great information when doing your market research on how people are searching, what they are looking for and potential problems in the marketplace that you will be solving for them inside your business. Utilize Google auto suggest in your market research as another way of exploring your market to understand what people want.

Google Auto Suggestion Tool Gives us Excellent Research Data

Using an excellent keyword tool to get some extensive details of your market research

Here is another great market research tool to give you some numbers. I love to do market research however, something I have to point out is that not to live and die by the numbers that you receive. The reason is you’re going to see lots of variances across multiple tools. The other reason is over 50% of all the searches done today are brand new searches that have never been done before. And as I said before market research is an ongoing aspect of your business that you’ll continue to do. The results you are getting Google auto suggest today may be very different in three months from now as the market shifts.

inThis tool gives incredible details and has been around a long time. It is an investment in your business that will pay you back over and over. It will allow you to uncover the 4 golden rules to market research and where most people fail miserably. The training here is excellent as well.

Get the free full trial of this tool here

Over the next few days you’ll also discover:

  • How to increase your traffic by over 900%
  • How to avoid the common keyword trap that can ruin all your hard work – without you even realizing
  • The ONE key indicator to uncover the relevancy of your keywords
  • How to greatly reduce people leaving your site because they don’t find what they’re looking for
  • How to filter out the useless keywords guaranteed to cost you time and money
  • The Truth about Keywords: Why 90% of all keywords have low levels of traffic, and what this means for your business
  • The One Big Mistake in most Keyword Research and SEO tools that causes marketers to fail (Getting no traffic, even IF they get #1 Google rankings!)
  • How much traffic you’ll get to your website from a keyword before you begin
  • Advanced strategies for finding relevant, high-traffic, high-quality keywords in your market
  • The two vital ingredients that mean front-page rankings, in days or weeks – instead of months or years – and how to check for these 2 factors in just 5 minutes

DOWNLOAD THE FREE TRIAL HERE

Market Samurai Free Market Research Tool

What colors, site structure, and typography are being utilized by your competitors.

The next component of market research is going to want to investigate is again tied directly to your competition. Look at it this way, they have already done all the work to show you what people want, what is popular in that market, colors to use and more. Your competition in the market research phase is a huge asset.

At this point in your market research, you should have a good idea of who your major competitors are. So, what we are going to do is take a closer look at those major competitors and see what they are doing to monetize their websites, what is there site structure like, what colors are they using on their website. and what is the typography they’re using as well.

As we are getting closer to the end of our marketing research phase, we want to be able to somewhat emulate what is working in the market currently. As you build on your website this is going to save you time and mistakes that you may make.

In my course on site structure and latent semantic indexing and how to build the silo substructure site, you will gain a huge competitive advantage over your competition, and you will ensure a higher-ranking website based on the proper structure and better interlinking.

Market Samurai Free Market Research Tool

Video Keywords and YouTube

The next component of your market research strategy, we are going to be head over to YouTube.com. YouTube is the second largest and most used search engine behind Google.

It is predicted within a year or so, that about 80% of the web traffic is going to be video related. With that being the case, you must have a video marketing strategy and understand how this is going to play a role in your business moving forward.

Now don’t worry about making the video at this point, that is not the point. We are going to do some market research on YouTube and see what is going on. We want to know what kind of videos of being made within your market. What is popular, what is the demand like, and again who are your major competitors.

You should have defined all your subtopics point. You also should have done your keyword research on the free LSI keywords to I gave you, and you should have your free copy of market samurai as well and gone through some of the excellent training on market research they have there.

The point is you should be organizing your keyword research and at this juncture, you should have a good idea of what your major subtopics will be on your website.

Using YouTube’s Search Engine will be a very similar process to what we have already done on Google. Start off by utilizing your major phrase or theme of your website and put that into the YouTube search engine and see what comes up. You’re going to repeat this process for all your subtopics. Additionally, pull out 3 or 4 major keywords related to each sub-topic of your website and do a search on those phrases on YouTube as well. Since so much traffic is coming through YouTube, you are going to want to spend some good time here getting a feel for what is going on in your market.

I know this is a lot of research to do however is such an important factor as I said the beginning of this article. This is the foundation of your entire business. So, go through each one of these phrases and take a good look at several YouTube videos in this market. Additionally, make note of any YouTube channels that seem to show up more than once. You’ll want to bookmark those and return later as you develop your content marketing strategy. Additionally, inside the videos, there should be tags that are being used. It would be a good idea to start making a list of these tags for later use.

In today’s market, there is no online marketing strategy without video. If 80% of all traffic online is demanding and consuming video, then there is no question that video marketing must become a part of your overall strategy. In later training and in my courses, I will be showing you how to quickly create videos and how to rank those videos.

Market Samurai Free Market Research Tool
YouTube Search Bar

What social media sites the most important within your market

The next phase of your market research is a very important one. Every niche has its own demands when it comes to social media. What you are going to want to do is to visit the top social media sites and get a feel where your market is hanging out. What are they doing? And how are they engaging their audience?

First and foremost, you will utilize Facebook. Facebook and most of the other social media sites all have their built-in search features. On Facebook, what you’re going to want to do is identify some popular pages within your niche to once again find out what they’re doing and how they’re attracting their audience, so you have a good idea when it comes time for you do that as well. The other social media sites such as Twitter LinkedIn, Instagram, Pinterest, Tumbler, Flickr, Reddit, Snapchat, and Whatsapp, Periscope and more…

Pretty much the same scenario is going to be used for each of the sites to find out if your audience is there and you should be having a social media presence for your business on these websites.

This often depends on the age of your audience and what you discover doing this research phase that will determine the best places for you be spending your time when it comes to social media.

So, take your time to go through each one of these social sites and get a good feel for what is going on within your niche.

Social media play such an important role today and there’s so many people on social media daily that you will develop a content marketing strategy within social media as part of your business.

Social Media Marketing Research

What problems does your target market need solved?

As I said at the beginning of this topic, just about every niche has a presence today. The goal in market research is to discover how you are going to enter this market too and be better than your competition. This often comes in finding a problem that they haven’t found or solve. Or you may have a solution that is better then what is out there.  People search using questions. We covered this at the beginning of this article. 

I am doing this with a site called End of the Bs. The home-based business market is a mess and 95% of the people fail within 120 days. I am building a better mousetrap and solving some of the major issues why people are failing in this market. It is not necessarily about coming up with a brand-new untested solution but putting together the pieces that solve the full puzzle. In the Home-based business market, most of the solutions are disjointed and leave out pieces of the puzzle that do not allow people to have the success they are looking for.

One of the ways you can uncover problems in your market is in our Google research. Remember when you do a search in Google there is now a section of questions that people ask. This is a great place to discover what problems are in your market see how you can solve them for people. You can dig down into those questions sometimes deep and see what people are trying to solve and then you can come up with a solution.

Another fantastic website to find out and do research on is called Quora. This is an authoritative website where people go to get questions answered. It again has a wonderful search function. So, in your market research stage, you’re going to want to go there and once again enter in your major theme and your major subtopics into the search bar. This is going to bring that back various questions that have been answered by the community and problems that are possibly unanswered within the community. This site can also be utilized in your content marketing strategy in multiple ways.

A third website that you can utilize for this is called https://answerthepublic.com/ answer the public.com. Although this one has a paid aspect to it, you can still utilize the basic functions of the website to find out information about problems within your chosen market.

On each phase of your research, you should be utilizing some sort of system to keep track of all this information. All this information will be utilized as you’re developing your business.

Quora can be used to find problems in your target market
Quora can be used to find problems in your target market

Is the market worthwhile for you to go after?

The overall goal of doing this kind of market research is building a foundation for your business that will allow you to move forward. By the time you’ve gone through each one of these steps, you will be able to determine if this market is worthwhile you go after.

You should have clearly defined your main theme and at least 4 subtopics. You should have clearly defined who your competitors are. You should have clearly defined at least 5000 keywords using just the free keyword tool. You should have defined multiple problems within the marketplace that you may be able to solve for people. You should have a good idea of where you be setting up camp for social media. And you’ve got a small introduction to latent semantic indexing which leads into the content development as well as site silo structure for developing your website correctly.

Market Research Should answer all the questions about the market you are looking at

Conclusion to Market Research

There are some additional things you can do within market research including doing surveys if you have a list already defined. If you do not, it may be worthwhile to explore the possibilities of running some sort of Facebook ad inside of your target market to get some feedback.

When you implement all these components of market research, it will give you an outstanding position moving forward with your business. By spending the time seeing what is happening in your market, you will be better armed to make decisions regarding your business based on data, rather than based on what I call hope marketing.

I hope you enjoy this content and would love to hear some feedback from you. Please feel free to comment below and share this content on your favorite social media sites. Thanks

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