The Market Research Commandments

Ignore This Methodology At Your Demise

There are tons of marketers out there who teach various methods for performing market research and they have some good information to share on some new bit of good advice or a new tool which will give you an edge when finding markets to pursue.

What I am about to show you is as fool proof of a step by step list of marketing research as you will find anywhere. This is a no fluff way to uncover the traffic, sales potential, product positioning and competition analysis you need to have the best chance to succeed possible.

There are essentially four main steps to what I will call my “marketing research commandments“:

• Find High Volume Traffic Keyword Searches
• Target Want Market Keywords that have Commercial Value
• Introduce Traffic Streams to USP products and services
• Target Low Competition keywords which allow a quick ROI

Everyone knows finding high volume traffic keywords is essential to succeeding in online marketing, because without a constant stream of relevant visitors to your web site your business will not earn a return on investment and become a waste of time. This is why I use two tools to initially uncover large market area keywords right out of the gate once I know what area I am interested to investigate.

I use the Google External Keyword Tool and Market Samurai when I am wanting to easily uncover the possible areas of a market to target. I begin with the external keyword tool and then import my findings into Market Samurai just to be sure I don’t miss out on any keywords possible.

You must ask the question: Are people searching in my market niche? You then must answer the question what are they searching for based on the keywords I am finding?”

Then you need to filter these keywords in such a way that the amount of daily searches going on with your overall keyword list is adequate enough to possibly convert enough sales to allow you to have a positive ROI without much tweaking and testing. If you already have an existing product or service as a starting point you will be able to roughly determine the answer to this question. Try to use very conservative estimates with a 1% starting conversion rate on sales expected or less as this is a safe way to think.

It should be obvious to you then that if you get 100 site visitors total per day for your site based on your batch of keywords you will target and being in the number one spot for one or more words which will pull in 100 searches a day that you can survive or profit as a business quickly. This is not an easy thing to guess at all what your site visitors will do once they arrive on your site, but just play it as safe as you can and allow that sales will be extremely low at the beginning. They could in fact be 10 times what you expect, but plan for the worst and you will succeed much more often.

Please watch the following video as I show you my step by step using the Google External Keyword Tool and Market Samurai together to uncover as many niche keywords which could pertain to an existing product or new product you will create based on your research. You will be introducing streams of site traffic to a unique selling proposition so keep this concept in mind when researching initially.

Here is my USP or incentive for you to buy Market Samurai from Logiscape. Anyone who purchases Market Samurai through me may email or post a comment on the blog asking any market research question relating to the tool and how to best use it to improve your business. That’s right ask me anything at all and I will respond with my best information and even help you with your marketing idea within reason.

Market Research Commandments Can Make Sense

Author: Scott Holden – TrafficEraBlog