Conducting Market Research / 19 posts found
20 Tools & Resources for Conducting Market Research
Finding out if a product will be successful beyond the initial curiosity is just good business. With market research, you determine whether the opportunity exists, how to position the product or service, or what consumers’ opinions are after the launch. If you’re sensitive to the high costs of failure and need to gather facts and opinions to predict whether your new product, feature, or location will be successful, start by investing in market research using these tools and resources. Here are 21 of the best tools for conducting market research, including a few recommendations directly from HubSpot market researchers. Let’s […]
TAM SAM SOM: What Do They Mean & How Do You Calculate Them?
Starting a new company is exciting. So is gauging an industry’s profit potential or forecasting a revenue goal for your business. But as you start calculating, you must remember to root these figures in reality. If you don’t, you could enter a market that doesn’t have a large enough market size to convince investors to back you, or you could set an unrealistic revenue goal for your business and burn your employees out. To help you avoid these issues, we’ve put together a guide that’ll teach you exactly how to calculate your industry’s total addressable market, serviceable addressable market, and […]
How to Run a Competitor Analysis [Free Guide]
Many marketers don’t take advantage of competitor audits, so we have to ask: When was the last time you performed a competitor analysis for your brand? If it’s been a while or you aren’t sure how to do a competitor analysis, we can help you through the process. Too often, a competitor analysis is reserved for the early days of a company or the launch of a new product. But knowing how your competitors are positioning their products is key to ensuring that your content remains relevant. In this post, you’ll learn the benefits of revisiting your competitor […]
5 Challenges Marketers Face in Understanding Audiences [New Data + Market Researcher Tips]
As customer behavior constantly changes, marketers face an ongoing challenge to keep up with their audiences. Personalization and need fulfillment are essential to the success of any marketing campaign, and failing to understand what your customers want could result in lost revenue for your business. Marketers must stay in touch with evolving customer behavior and preferences to ensure their campaigns resonate with their customers. In this blog post, we’ll highlight the top challenges marketers face in understanding audiences from HubSpot’s very own 2023 State of Marketing Report to provide data-driven tips for overcoming them. Challenges Marketers Face in Understanding Audiences 1. […]
Causal Research: The Complete Guide
As we grow up, all humans learn about cause and effect. While it’s not quite as nuanced as causal research, the concept is something our brains begin to comprehend as young as 18 months old. That understanding continues to develop throughout our lives. In the marketing world, data collection and market research are invaluable. That’s where causal research, the study of cause and effect, comes in. First-party data can help you learn more about the impact of your marketing campaigns, improve business metrics like customer loyalty, and conduct research on employee productivity. In this guide, we’ll review what causal research […]
Total Addressable Market (TAM): What It Is & How You Can Calculate It
Whether you want to start a new company or forecast realistic revenue growth, measuring your total addressable market is a crucial first step. In order to understand how much of the market you can secure — and how much revenue your business can generate — you’ll need the right formula. In this post, you’ll learn what total addressable market is and the best way to calculate it. Table of Contents What is a Total Addressable Market? How to Calculate Total Addressable Market Unless they’re a monopoly, most companies can’t capture the total addressable market for their product or service. Even […]
What Is Market Share & How Do You Calculate It?
In the marketing industry, you’ve likely heard the term “market share” from time to time, but what does it mean? Why is it necessary, and how is it calculated? As marketers, it’s important to understand market share so you know how your company ranks against competitors and can develop new marketing strategies to reach more potential customers. In this post, we’ll outline what market share is, how to calculate it, give real-life examples, and explain how you can increase yours. What is market share? Market Share Formula Relative Market Share Relative Market Share Formula Market Share Examples How to Expand […]
3 Ways Data Privacy Changes Benefit Marketers [New Data]
When it comes to marketing, almost nothing is more important than having high-quality data on your target audience. So it’s no surprise that data privacy changes limiting marketers’ visibility into what their customers are up to is a huge threat. But what if I told you data privacy changes are actually having a positive impact on marketers? I get it – you’re probably used to hearing about how the loss of third-party cookies, GDPR, and iOS privacy changes spell certain doom for the marketing industry – but our survey shows that isn’t true. Out of over 1,000 marketers impacted by […]
How to Do a SWOT Analysis [With Template & Examples]
As your business grows, you face more obstacles, challenges, opportunities, and projects in general. It’s a good and natural part of scaling an organization, but how do you determine your priorities? Which initiatives should you execute on first, and which challenges should you address right away? Enter the SWOT analysis, a framework that can help you develop a roadmap for moving forward with your business, maximizing opportunities and minimizing roadblocks along the way. While it may seems simple on the surface, a SWOT analysis allows you to make unbiased evaluations on: Your business or brand Market positioning A new project […]
What’s a Competitive Analysis & How Do You Conduct One?
When was the last time you ran a competitive analysis for your brand? And most importantly, do you know how to do one efficiently? If you’re not sure, or if the last “analysis” you ran was a quick perusal of a competitor’s website and social media presence, you’re likely missing out on important intelligence that could help your brand grow. In this detailed guide, you’ll learn how to conduct a competitive analysis that will give your business a competitive advantage in the market. A competitive analysis can help you learn the ins and outs of how your competition works, and […]