Market research and business intelligence can prove a powerful tool for helping you build your businesses, and stay one step ahead of changes in customer habits and shopping trends. That’s because market developments and shifts in customer interests are now happening at a blistering clip. By learning to make better use of data, analytics, and customer insights, you can give your organization the capabilities it needs to stay on top of changes in the marketplace, and even anticipate audience needs before shoppers themselves know they’re changing. Better yet – acquiring that market research and business intelligence doesn’t have to be as costly as you might think, as we run down in our newest research findings below. Be sure to check back often for more on helpful hints and strategies for building your business.

Topic: 7 Cost-Affordable Ways to Conduct Market Research Online

Scenario: Customer habits and needs are changing dramatically: To find out what they want, and better target your product/service offerings, you don’t have to spend thousands on focus groups and market research companies – just apply a few helpful strategies.

Insight: Numerous online polling and research tools can be implemented to help provide you obtain crucial business intelligence. Likewise, numerous technology apps and platforms make it possible to parse the mountains of data you’re already gathering from customers to surface actionable data. In addition, numerous grassroots approaches – crowdsourced contributions, advance product tests, etc. – can help you surface the data you need with little time and expense as well.

Topic: The Most Important Things You Need to Know About Your Customers

Scenario: Customer habits and behaviors are changing rapidly – business leaders need to know what survey, poll, and research insights (e.g. key factors) they should be staying attuned to, and what variables may impact purchasing patterns going forward.

Insights: You need to know what shoppers’ pain points are, what benefits and attributes they value, what their current sentiment on your business and the market is, how they feel you stack up against competitors, etc. The more you understand these types of factors, the better off your business will be.