In order to conduct market research, you need to know a few different methods of research. Today, conducting market research is easier due to the relatively inexpensive technology you can take advantage of, some of which will be discussed below. The important thing is to learn about these methods, and commit to conducting market research on a regular basis (at least once a year).

It’s important to do market research are before creating and launching a new product.

  1. Surveys – Software like SurveyMonkey.com, and Zoho.com allow you to conduct web, email and mobile based surveys so that they can be taken by anyone, from anywhere, using any device. Surveys are good to use on your audience as well as to help find your audience.
  2. Online Communities and Forums – Finding industry-specific web communities and online message boards (forums) are a great way to observe a specific type of audience to find out answers to the questions you have.
  3. Social Media Analytics – Using social media analytics to find trends in the actions of your followers is a great way to conduct research. Want to figure out which kind of social media post gets more engagement? Use the analytics that comes with your software.
  4. Interviews – Due to high speed internet and webcams, you can use software like Skype and Google Hangouts to conduct and record online interviews. You can also conduct old-fashioned ìpaperî interviews via email.
  5. Crowdsourcing