There is a saying that states, “It is not what you know, but who you know”, and we dare say that in certain specific circumstances, that might be the case. However, in most walks of life, including business, it is surely your knowledge that is all-important. When we say knowledge, we are talking about knowing what is popular with your target audience, knowing market trends, knowing what your competitors are up to, and knowing how your business is currently performing, for example.
In other words, the more you know about your company, your performance, your market, your competitors, your prospective customers, and your current customers the more able you are to make decisions that are going to positively impact the level of success that your business will be able to achieve.
This might beg the question, “How do I gain all that knowledge?” and the answer is there is no one way. There are several, and that is a good thing, as it means you can learn about all the areas relating to your business we have already mentioned from several different sources.
One such source is using market research tools that provide valuable insights and quality data relating to whichever market you wish to analyse. As for what market research tool you should consider, here are 7 of the best that many top marketing experts use.
Google Trends: Where better to start any kind of market research than the biggest search engine on the internet. With Google Trends, you can see visually which search term volumes are increasing and which are decreasing giving you an indication of popularity trends. This helps you avoid joining the tail-end of a dying market and instead get a head start within an expanding market.