#1. Affordability: Can you afford not to use Online Market Research Platforms?
Online Market Research Platforms allow individuals or organizations to quickly complete market research without investing a lot of time, money, or resources. They generally collect and assemble market data from thousands of sources onto one easy to use platform. Most use advanced technology to aggregate information, do the heavy lifting, and see results in the form of graphs or analytics. This approach saves time and money compared to traditional market research methods. These platforms help to quickly identify target markets and effectively match sales and marketing goals to high-potential-income business prospects.
Competition is fierce and the days of working with cold lists are over. Use technology to do the job cheaper and faster. At best, marketers will have their pipeline full of high potential prospects leaving valuable time to follow-up or close deals. There is an opportunity to learn about new markets, demographics, what your competitors are doing to take into the next meeting. It’s just too cost-efficient for businesses of all sizes to ignore.
#2. Don’t Guess: Know Your Target Markets
The world is changing every day and so are the business markets. Relying on established customers can keep the lights on, but growing a business requires keeping in touch with change and new markets that drive growth. In the past, only large enterprises could afford to purchase Business Intelligence. Online Market Research Platforms provide most of the information needed to understand how and where income from growth potential industries can be achieved.
Take advantage of the lower costs and be informed before reaching out. These platforms can be used to match company sales goals with the number and location of businesses that are potential customers and top products or services they purchase. Research what competitors are doing, whom they are targeting, pricing, and understand what they spend to stay in business. Don’t repeat a competitor’s failures. The time it takes to understand all this information is the same as the time an average person spends on Social Media.
#3. Browse Business and Industry Directories
Search through Business and Industry Directories for potential prospects. Use directories to drill down and learn specifics about businesses you are targeting. A good online research platform will automatically search through thousands of businesses that are high potential customers and identify a shortlist best matched to review. Search results should be viewed as digital business cards which let you quickly browse for companies. When interested in a company, you should be able to save to a list and move on to look for similar companies. Saved lists are an excellent way to come back anytime to continue a search.
#4. Follow Businesses That Are Potential Sales Leads
Online platforms can be used to follow activity about businesses in your saved list. Following buying habits is a great way to learn whether products or services you sell are a good match to a lead. At this point, you will be prepared to reach out with all the information needed to sell. One person can easily generate hundreds of leads a week with contact information including decision-makers needed to close a deal.
#5. Fill Your Pipeline with Top Businesses You Are Following
Weekly imports of the final list into a CRM along with key information to contact leads is recommended. Start any sales campaign that fits your organization. Most online research platforms export the final sales lead lists using excel tables which integrate well with CRM platforms.
Keeping your pipeline full starts with identifying solid prospects that convert into sales. There are many ways to fill a pipeline and some work better than others. Marketing automation is getting a lot of attention, but it’s very expensive, risky, and if your campaign is not right, a lot of your budget is wasted. Some rely on Social Media to identify leads, but this can be a brute force approach. At best, you are scheduling meetings and converting based on quota. At worst, your leads are only as good as purchasing a cold list. Online Market Research Platforms are inexpensive and low risk because automation is used to generate leads. They are also “Smart” and get better the more you use them.