The Strategic Value of a SWOT Analysis

A SWOT analysis provides a straightforward analytical framework that allows you to evaluate a business from all angles. A SWOT report looks at a company’s internal strengths and weaknesses as well as external opportunities and threats.

A company’s strengths and weaknesses could relate to its cash flow, location, trademarks, company culture, or distribution networks. Its opportunities and threats could involve factors such as market trends, technological changes, regulations, or demographics. By assessing these areas, you can find out where a company might have a competitive edge and where it needs to improve.

Topics: Market Research Strategy Marketing How To's

Researching User Behavior on Websites

If marketers take a close look at their company website data, they will gain valuable insights to make those websites generate more sales leads and e-commerce revenue. In addition, the same data can improve lead and revenue production beyond the website — provided the data is shared throughout the organization, rather than confined to the website development team and Internet marketing analysts, as it often is. In this article, we’ll look at:

  • Important data to review
  • Important data gaps that must be filled
  • How to use the data to improve lead and revenue production
Topics: Market Research Strategy Marketing How To's

How to Define Your Target Audience

Promoting your business to anyone and everyone is not an effective marketing strategy. To efficiently drive sales and increase brand awareness, you must focus on your target audience. But who is your target audience, exactly? How do you know if your marketing will appeal to them?

Consumer research is a vital step that can help you find the answers you need. Below, three experts share questions you can ask to help identify your target audience, assess buyer behavior, and optimize your marketing strategy. Their suggestions go beyond the basics — and some of their ideas may surprise you. Read on to find out more.

Topics: Market Research Strategy Advertising Marketing How To's

3 Ways to Market Your Business Through Social Media

Every day, I check my Instagram, Snapchat, and Twitter anywhere between five and ten times on my iPhone. I get on Facebook, Poshmark, Pinterest, and LinkedIn probably about once or twice a day. And to be honest, I don’t think I’m on social media that often. I am one out of 75 million millennials living in the U.S., and because most of us have similar social media habits, it’s crucial for businesses to get onto social media if they are going to reach us.

Topics: Marketing Social Media

Why Millennials Are Reshaping the Luxury Market

The U.S. luxury market is the largest in the world. According to the Federal Reserve Bulletin, the total number of millionaire households in the U.S. is 11.53 million. Because affluent shoppers have the highest potential to spend, they are key players in the consumer economy. It’s no surprise that a variety of companies target affluent consumers — from credit card companies like MasterCard to luxury brands like Chanel.

Topics: Retail Demographics Marketing Industry Insights

How to Use Market Research to Understand the Global Market

Through the benefits of technology, it’s easier than ever to take your business to the international level. What once was reserved for big-name brands is now possible for all types of companies — as long as they stay informed about current market conditions. When considering global markets, it’s important to use market research to be prepared for all potential opportunities and challenges.

Topics: Market Research Strategy Marketing

How to Use Market Research to Determine Where to Start Your Business

When starting your own business there are a number of different factors to consider, but as long as you do your research, then it can be made a whole lot simpler, and easier for you to manage and maintain.

Topics: Marketing

Innovative, Cost Effective Ways to Market Your Business

You don’t need to shell out your marketing budget (and if you don’t have a budget it’s time to sort one out) on getting your business out there to potential customers. There are plenty of cost effective ways of marketing your company and encouraging more sales, hits on your site, and increasing client engagement and confidence in your brand. Here’s how.

Topics: Marketing

What Is Employer Branding & How Will It Help You?

Image matters, especially in the world of business. Every organization is trying to stand out from the crowd and grab our attention as a consumer. Without a strong brand image, it’s tough to gain traction. You may run an excellent company with strong products and services, but if people don’t have a positive association with your brand, your business will face negative long-term consequences.

Topics: Market Research Strategy Marketing

How to Launch a Career in Marketing

Marketing is an ideal career choice for someone who wants to work in an industry that keeps up to speed with the very latest technological innovations, makes use of good people and communication skills and is creative. As Career FAQS points out, it’s also needed in virtually every organisation so there is the chance to get good jobs in a host of different business and locations.

Topics: Marketing How To's