Market Research on the Cheap

Working people didn’t spend 20% of their annual income on Encyclopedia sets because some door to door salesman tricked them into thinking how nice it would be to own a bunch of books. People paid high prices for those gold bound Encyclopedias because they wanted to feel like good parents who were giving their offspring an advantage.

Emotions and the desires that spring from those emotions are the reason that people buy almost everything. A successful business understands the buying emotions and the desires of its customers, and finds a way to satisfy them.

Master salesman will tell you that it is impossible to create a need for a product or service that will not plainly satisfy what people want. Some business schools still teach that wants and needs can be created with slick marketing. How little those academics know about human nature.

The purpose of market research is to know your customer, to unravel the bundle of human emotions and find out what your potential customers really want.

Here are three ways that you can do market research on the cheap. Just because the research method is online does not mean that it cannot also be applied to an off-line business.

1. Keyword Analysis. Everyday people type queries into Google and the other search engines on an almost infinite variety of topics. There are free keyword research tools offered by Google and Microsoft, among others, that will return hundreds or results of the exact phrases that people used to find out more about any topic.

Your job as a market research analyst is to look behind the words and phrases that people use to search. Do some phrases have a greater sense of urgency than others? Are some searches more specific about the nature of a problem?

It will take a little practice, but after a while you can develop a sense of what people really want from the keyword phrases they use when they search on the Internet.

2. Active Forums. There are online forums or communities on thousands of different topics where strangers get together and talk about a common problem with more frankness and honestly then they probably would in person. Anonymity has its virtue.

You would spend thousands of dollars to do market research with a focus group. You can do nearly the same thing for free with online forums.

3. The Competitions’ Sales Letters. A professionally written sales letter will deliberately target buying emotions. Top copywriters get paid thousands of dollars to write those sales letters. You can take advantage of your competitor’s research and the copywriter’s expertise by studying the well written sales letter to identify and understand those dominant buying emotions.

What Sort of Career Centers on Research and Development?

The progress of a company or business relies upon the research and development that comes from employees constantly looking for better approaches concerning issues like management, growth, expansion, and cost-efficiency. If seeking ways to improve a business interests you, it is recommended to consider some of the occupations listed below:

Clinical Research Coordinator

A Clinical Research Coordinator is in charge of the organization of research data concerning clinical projects. Typical responsibilities include selecting and observing subjects, and then helping out with the analysis of acquired information. A high school diploma (or its equivalent) paired with two to four years of related experience is required for this job. An array of tasks is encountered, which allows an employee to exercise their creativity, judgment, and planning skills. It is not uncommon to report to a supervisor or manager. The average annual salary for this job title ranges between $37,063 and $68,018.

Market Research Analyst

The collecting and analysis of data in regards to existing and potential product/service markets is one of the main concerns of a Market Research Analyst. Knowing the competitors within the market and keeping an eye on change within the industry is another important part of pursuing this kind of career. A bachelor’s degree (with zero to two years of experience in the field) is necessary in order to build a working knowledge of commonly used concepts, practices, and procedures associated with market research. The average salary is seen between $35,182 and $56,999.

Research and Development Director

If you are interested in becoming a Research and Development Director, there is a lot of experience required in order to fill the shoes of this lucrative position. As director, a watchful eye is needed in order to keep tabs on the research and development policies of an organization. You will review and approve objectives and initiatives concerning the future of a company. The research and development programs you back should boost the profitability of a business and hopefully create more of a threat to competitors. A bachelor’s degree with at least ten years of experience in the field is required to apply for this position. Typical salaries are seen between $98,732 and $253,482.

Market Research Manager

As a Market Research Manager, you will manage the activities that take place within the market research department. It will become your duty to oversee the inner-workings of a team of analysts to make sure they follow proper procedures concerning analytic techniques that access the various demands for products and services on the market. You will become a wizard at predicting consumer trends and become responsible for looking over current research projects. A bachelor’s degree in an area of specialty with at least seven years of experience in the field is necessary for this position. It is also important that you are able to lead and work well with others. An average yearly salary for Market Research Manager is seen between $65,538 and $114,791.

Operations Research Analyst

The collection and analysis of data in regards to the evaluation of operational difficulties is one of the many duties of a Operations Research Analyst, who will later suggest the best course of action when it comes to solving issues concerning a company. A bachelor’s degree and zero to three years of experience is required for one to gain a sufficient amount of knowledge for the execution of typical concepts, practices, and procedures concerning your job. Yearly salaries for this position range from $30,126 to $61,010.

Best Companies in Research and Development

When looking for the best companies to work for in the field of research and development, using the Fortune magazine’s “100 Best Companies to Work For” list could become a rather helpful starting point. Making the list for 2008, FactSet Research Systems Inc. has proven itself worthy in the world of integrated financial information and analytical applications. As a small company, it ranks #20 on the list and captured the #52 overall position on the Top 100.

Another praiseworthy company is Genentech, which showers its employees with an onsite farmers’ market and day care for dogs. Their 401(k) match is rather impressive, where employees also enjoy access to an onsite fitness center, subsidized gym membership, job sharing program, compressed workweek, and telecommuting. The most common salaried job at Genentech is a Research Associate at $85,880. There is also a satisfying balance of minority and female employees in the company.

WebComp Analyst Review and Awesome Bonus

WebComp Analyst is a new keyword and link analysis tool created by Jonathan Leger. But, what does it do? Can it really help your sites ranked well on the search engines? Or is it another keyword analysis tool where you’re going to use once or twice and never to be used again? Let’s find out in this review.

If you have been doing online marketing for a while now, I’m sure you know that web traffic is one of the most important criteria for success. Every successful website owner knows that without traffic the website is dead! The main reason why more than 95% of web marketers fail is because they don’t get traffic.

It’s obvious that your websites need traffic in order to succeed. And the best source of consistent and high quality traffic is from the search engines. Unfortunately, most websites get little or no traffic from the search engines. That’s where WebComp Analyst comes to your rescue. It’s more than a keyword suggestion and analysis tool, it also tells whether you should or should not target certain keywords or keyword phrases. In other words, it guides you to target the RIGHT keywords (those that worth targeting).

Remember this… targeting certain keywords can give you traffic but NOT all keywords are worth targeting. There are keywords that can give you traffic but don’t have commercial values, meaning that you can not convert those keywords into sales. Therefore, targeting keywords that convert well is KEY to your success.

If you know anything about keywords ranking in Google, then you know that ranking in Google is all about the links. For example: many different websites can target the same keyword but those that have more links with the targeted keywords in the anchor text will come out as winners. You can get this information for free manually but it’ll be very time consuming and tedious. Having to manually check links and anchor text can take hours. With WebComp Analyst, all this information can be obtained in seconds, saving you a huge amount of time.

For those who are involved in researching and building niche sites, WebComp Analyst is worth checking out. It certainly can saves you hours of works. Using this tool can also increase your chance of success. Your niche sites would likely get web traffic if you analyze all the keywords using this tool before building the actual sites. This not only will save you time but also money in the long run.

Another good point I want to highlight in this review is that WebComp Analyst (WCA) only costs $67 one-time. There is no monthly cost or other additional charges.

Is there any bad point?

Honestly speaking, it’s very difficult to find a flaw for this product. However, you should be aware that WCA does not run natively on the Macintosh. If you’re using Mac, you need to install the Mono Framework for Mac OS. That’s the only flaw I can find.

I hope this review is useful for you.