have tried many methods and have settled on what we believe is the best combination of speed and cost effectiveness.
Our basic method is as follows:
1) Keyword and competitor research
Before we enter a new market, we take various tools that identify which keywords people are currently searching relating to that market, the relative volume of each, and which competitors are showing up for both organic and paid searches for that market segment. By looking at the relative value of those keywords and even the “free” traffic, we then get a pretty good estimate as to the size of that market, and even the relative value of the main search terms of that market.
Next we look at the relative effectiveness of the sites and landing pages of those competitors, with an eye to designing a competitive site in this market. Even though we’ve seen and designed literally thousands of landing pages, we don’t assume that we know the market yet or presume how sites should be designed. We watch and learn from the top competitors first.
If all is good so far, we then design a specific market research survey that is sent to our survey communtity and get further feedback on that product or service. We attempt to identify price points and pain points with consumers, as well as what their idea is for the chief benefit of that product or service.
This gives us much further data to use to optimize and build much better landing pages and web sites, or to advise whoever is designing the site.
We then continue on and do further surveys as needed to see how the product should be positioned in the marketplace. This is more than simply tagging something as “luxury” or “cheap”. We mean how should this product ideally be positioned in the minds of consumers, and how is it actually positioned now. This data is then used to further refine the marketing campaign process.