Market Research

Why Market Research Is Essential to Build a Brand

Ben Conde
December 21, 2016
market research

Nicole Leinbach Reyhle is the Founder and Publisher of Retail Minded, the Co-Founder of the Independent Retailer Conference and a regular contributor to various publications. Additionally, Reyhle is the Author of the book “Retail 101: The Guide to Managing and Marketing Your Retail Business” from McGraw-Hill and has been the Spokesperson for Small Business Saturday from American Express since 2014. Follow Reyhle on Twitter at @RetailMinded. The world of Gigprenuers is always changing, as is the landscape of consumers, their needs, marketing at large, and everything that influences purchase decisions. As a result, market research continually needs to be on your to-do-list in an effort to grow your brand and business. To help ensure you’re on your way to Gigprenuer success, consider the following three market research tips.

TIP #1: Market Research Keeps You Focused

Staying focused isn’t easy in today’s nonstop professional and personal world. With just a few clicks you can escape your attention from work to play, and often work itself doesn’t feel like a job. That’s a great thing, by the way, but as a Gigprenuer or entrepreneur you don’t want to lose track of what your long-term goals are. Are you working to maintain part-time hours? Or is your dream to build up a full-time income from Gig work? Whatever your unique goals are, let market research help you reach them more effectively. Through research, you are able to narrow in on what’s most important in the current Gig marketplace, as well as better identify what tips, tricks, and techniques may be able to better support your work efforts. Additionally, market research can help you prioritize as well as maximize your time effectively – strengthening both your short term and long term goals for yourself.

TIP #2: Market Research Keeps You Customer Oriented

Working for yourself is a dream come true for many folks, but let’s not lose sight of who your boss is despite your Gigprenuer title. Customers own this role, and like it or not they lead all entrepreneurs into successful or not-so-successful futures. Keeping this in mind, market research can help you best identify what consumers want from businesses and brands. This vital information is critical in helping you maximize your customer relationships –including past customers, new customers, and potential consumers you have yet to work with. Aim to continuously meet and exceed consumer expectations, as well as aim to understand current customer needs in an effort to keep your business thriving – and to help, let market research support you in your customer service goals.

TIP #3: Market Research Keeps the Future Top of Mind

Conducting regular research that involves understanding who your competition is, what your customers want and new ways you can maximize your professional efforts can help you prepare for long-term success as a Gigpreuner. Short-term goals can help you reach your long-term potential, of course, but it’s future-oriented planning that will keep your brand alive and thriving in a competitive marketplace. Longevity and relevancy should be among your priorities, with market research helping you to shape the path of your Gigpreuner future. Finally, when you incorporate market research into your professional strategy you welcome opportunities to work more efficiently – which in turn welcomes you to become more lucrative in your Gigprenuer efforts. Is making more money on your to-do list? If so, be sure market research is, as well.

How has market research helped you build your brand or business? Has Fiverr helped along the way? Tell us in the comments below!

Ben Conde
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