Tips and Tools for Conducting Market Research for Your Small Business

Friday, July 26, 2024

July 2024 Small Business & Side Hustles newsletter

#Conduct Market Research with Help from the Library

The use of ZIP codes (as we know them) started on July 1, 1963. ZIP is an acronym for Zone Improvement Plan. However, the USPS intentionally chose the acronym to indicate that mail travels more quickly when senders mark the postal code on their packages and envelopes.

Why is this string of numbers important to your business?

While modern marketers have learned the value of using the ZIP code for demographic research, the business world noticed early that the ZIP code could provide an alternative way for them to determine market groups. The Library has many free tools and research databases to help you with demographic research, small business marketing, and more.

Keep reading this month's Small Business & Side Hustles newsletter to learn how to search for customer addresses and more!

 


Data Axle Reference SolutionsAccess 320 million US and Canadian consumer records, over 17 million businesses, historical business records, and much more with Data Axle Reference Solutions - provided free with your library card. Founded as ReferenceUSA in 1992, Reference Solutions eliminates the need to scour multiple websites or perform complicated searches.

In fact, this one database provides information to the top five search engines - collecting and verifying the most accurate and up-to-date information available. Several webinars are offered every month on how to use this database to your business’s advantage:

  • Getting Started Using Reference Solutions
  • Use Cases: Applying Tools and Data Filters
  • Entrepreneurship: Research for Starting, Managing, and Growing a Business
  • How Do I Purchase Email Addresses

Register for a free webinar today!

 

#Books We Recommend


How to Carry Out Market Research: The Key to Good Business is in the Planning by 50 Minutes.com

Ready to take your business to the next level? Find out everything you need to know about effective market research with this practical guide. If you are considering setting up your own business, then market research should be the first thing on your mind. In 50 minutes you will be able to: 1) Identify your target clientele and set your pricing and positioning accordingly, 2) Understand how to carry out effective market research, and 3) Learn the best type of format to use for market research and whether you should do it yourself or leave it to professionals.

Consumer.ology : the market research myth, the truth about consumers and the psychology of shopping by Philip Graves
Want to dive deeper - into the unconscious mind of your customer? This new updated and revised second edition of Consumerology: The Truth About Consumers and the Psychology of Shopping contains a new introduction and epilogue, in which Philip Graves reveals the myriad tricks and psychological games high street shops play on consumers; the ways in which we are manipulated into buying things we don't want; the ways in which we deceive ourselves; and the cutting edge behavioral science being used to change our habits to even more significant degrees.
Choose: The single most important decision before starting your business by Ryan Levesque

One of the biggest reasons why so many new businesses fail is because, in the quest to decide what business to start, most of the conventional wisdom is wrong. Instead of obsessing over what--as in what should you sell or what should you build--you should first be asking who. As in who should you serve? The "what" is a logical question that will come soon enough. But choosing your "who" is the foundation from which all other things are built. If you've ever had the dream to start your own business, become your own boss, or do your own thing--but have been afraid to take the leap--this book is for you. 

 

#Free, On-Demand Learning


Featured Resource: LinkedIn Learning

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Try out LinkedIn Learning, a leading online learning platform that helps anyone learn business, software, technology, and creative skills to achieve their goals. All you need is your library card and PIN to enjoy unlimited FREE access to 16,000+ on-demand courses.

Using the LinkedIn Learning mobile app?
The Library ID (case sensitive) is: jaxpubliclibrary.

 

#Courses We Recommend


SEO: Competitive Analysis by Anson Alexander

SEO: Competitive Analysis: Curious about what your competitors are up to? Tune into this course to learn how to use SEO tools and techniques to research the competition online. Find out what keywords your competitors are optimizing for—and then outrank them on SERPs. Instructor Anson Alexander explains what to look for when researching a competitor's SEO presence and website traffic, how to find both paid and organic keywords that competitors are targeting, and how to find out what’s driving traffic to a competitor's site.

Direct Mail Marketing by WealthFit

Direct Mail Marketing: More than just stuffing envelopes, direct mail marketing (which is both inexpensive and easy to systematize) is the backbone of lead generation! In this course, learn how to build a scalable direct mail marketing system to boost your lead flow. Get step-by-step instructions on how to acquire leads through a targeted local mailing list, use direct mail to build an invisible selling machine, budget and craft a scalable direct marketing campaign, and much more. 

Small Business Marketing by Brad Batesole

Small Business Marketing: Every small business is different; however, the common secret of successful small businesses lies in a solid marketing plan. In this course, Brad Batesole walks you through everything you need to know about marketing your service or product effectively—regardless of your team's size or budget. Brad explains how to identify your target market, formulate your brand message, and figure out the best marketing channels. He details how to identify your advertising options, including how to plan an initial social campaign, as well as how to measure your results.


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