How to do market research for a startup

How to do market research for a startup

How to do market research for a startup? How to figure out what are the current trends? How to know about the competitors? That is what every startup needs to know.

We are going to discuss three strategies to get that information as fast as possible because in the digital world speed is everything.

These strategies are proven by experts and it will surely take things to the next level for you.

Strategies for market research

1: Hire expert online

The first one in our list Hire expert online. There are sites like Fiverr, where you can search a category called “market research” and “data research” and hire experts starting from $5.

Those online experts have done the research for hundreds of other companies and spend hours researching the different competitors, what model they use for there business, the way they align the items, etc.

They gather all that information into one document for you to make it easy for you to understand your market in your startup.

This is our first and most recommendable way for your market research and it is better to hire somebody to work for you so you can concentrate on other productive things.

2: Google Trend

So what is Google Trends? and how it could help in your question “How to do market research for a startup”? well, Google trends is a trend searching facility by Google for the public.

It shows how often a particular search term is entered in the search engine like “Google” across the various regions of the world and in various languages.

How to use the Google trend:

  • First, go to Google Trends by clicking here
  • Search any term you like to search about. In our case, we are searching the term “Market research”
  • The image here shows a Google search graph of “Market research” the horizontal axis of the main graph represents time starting from 28 December 2018 to 24 November 2019 and the vertical shows how often a term is searched in the search engine.
Google Trend - How to do market research for a startup
Google Trend – How to do market research for a startup
  • Below the graph, there is some more information available related to the term such as the most searched countries, cities, related topics, etc.

3: Approaching students

This method is a little bit different but many experience researchers recommend this strategy.

There are marketing and business students who are looking for real-world experience. So there where you come in. You can approach the professor at the colleges or universities and offer some kind of “Project research” internship program for the student and whoever does the best one, maybe there’s an opportunity to hire them.

Business and marketing students already learned in there subjects they know how to search a topic and make a complete report.

Conclusion

So these are the three strategies for you to go from no knowledge to knowing everything about your market for a startup.

The last two strategies will take time and require a lot of hard work. To free your mind from day to day frustration hire a professional freelancer from Fiverr. You can start as low as $5 for each research.

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