Superior Market Research for Small Business Owners
Are you wondering how to conduct market research for small business reasons but unsure of where to start or are not able to afford a lot? Guidance Grove is here for all your market research needs and specializes in small businesses.
We focus on guiding growth and cultivating futures through market research deeply rooted in empathy. At Guidance Grove, we genuinely care about the future of your small business and want it to thrive.
Read on in our latest blog to learn a little more about the importance of market research and how we will provide all the data you need.
Everything You Need to Know About Market Research for Small Business Owners
One of the most important goals of a small business, and often the hardest, is reaching your target audience with the exact messaging that prompts them to act. In fact, this is vital to continually grow your business. How does market research fit into this equation? It provides the pieces of the puzzle to ensure you put it together properly.
Seven ‘Puzzle Pieces’ Market Research Provides Small Businesses
Customer data - This includes information, such as, behaviors and preferences, and is vital in fully understanding your target audience.
Brand awareness - This answers questions like, do people recognize and know your brand? Or will they immediately think of your business name when they need your product?
Price point - Setting prices is often a challenging task for business owners, so this research is vital in helping to set a competitive yet fair price for services or products.
Unique value proposition (UVP) - Do you know what your competitors in the industry are doing? This will help you set yourself apart from the crowd.
Product performance - Knowing what customers really think of your products or services - their strengths and weaknesses - helps you to continually improve for ultimate success.
Market trends - Find out what is happening in your industry, what customers expect from your industry and more trends to stay relevant.
Growth opportunities - The only way to continually grow as a business is to know what growth opportunities exist in your market and industry.
Beyond Data - Guidance Grove Provides Partnerships for Small Businesses
As you can see market research is vital to your small business, but unlike large corporations your marketing budget is limited and stretched thin. That is why we offer affordable solutions to gather and analyze data. We pride ourselves on being more than merely data providers, but partners on your team to help your business reach its full potential.
Our services include:
● DIY Research Templates
● Data Analysis
● Custom Research
We will work closely with you to get you the information you need and work with all budgets.
Ready to grow your business through exceptional market research? Contact us today by completing our contact form. We will be in touch soon to discuss your unique needs.
Be sure to also check out our shop for DIY research templates!