Primary International Market Research
A successful new foreign market entry depends on solid market research. Market research helps you to eliminate a wide range of cultural blunders. And it also helps you to find the best way to adapt and align your sales and marketing to a different cultural market.
Types Of Market Research
There are two types of market research:
Primary Market Research. This is getting feedback directly from your potential clients. You get first hand information about what the people in your new market have to say about your product or service. This is the most valuable type of market research.
Secondary Market Research. This is the gathering of information from collective resources. This gives you industry wide datafor specific markets.
How To Carry Out Your Research
Although it may seem out of place, the natural place for businesses to start is with the Secondary Market Research. This is fairly easy to do today online and there are also companies specialized in this type of research.
Once you have all of the big picture questions answered with the Secondary Market Research, it’s time to start with the Primary Market Research and get information directly from the people you want to sell to.
Opportunity To Use Social Media
Just as the web opened the doors to a certain level of Secondary Market Research, social media is making it possible to get direct feedback from international markets and carry out some Primary Market Research. This is great news for businesses serious about expanding into international markets.
This was not always easy to do, or do enough of, prior to social media. But now there is no reason why you cannot set up an ongoing social media campaign to learn more about your international opportunities.
What You Need
Prior to the web it was not always easy to carry out primary market research because you needed to be physically present in the country concerned. And although there is a possibility of carrying out some primary market research through social media it requires a unique combination of skills.
Strong Cross-Cultural Competency. Your communication and people skills are always of critical importance.
Acquired Social Media Skills. Reading up on social media just does not do it. You must be active on social media platforms to understand exactly what social media is about.
Knowledge Of Social Media Marketing Best Practices. One of the earliest successful business online models is based on affiliate marketing. This is why I chose to become a Product Launch Manager under Jeff Walker’s proven web marketing program.
Good Web Marketing Platforms. You need a web platform that is flexible and easy to adapt to different markets. This is why I am excited about the WishList Membership software. It is quick to set up and flexible enough to use for some great marketing with segmentation.
Excellent Networking Skills. You rarely get things right in the beginning. This is why you need excellent networking skills. Even with strong cross-cultural skills, networking skills are the tools you need to learn how to adapt to markets you are not familiar with.
Need Help?
Internatioanl social media marketing is just beginning. I’ve been using social media to build my international business network and promote my business abroad for over 2 years. It was easy for me because I drew on the people skills and capacity to adapt to new environments acquired through 25 years in international business development.
Would you like to set up an international program for primary market research using social media?
I would love to hear from you to see how I can help your company grow. Please skype me at cindyking.biz or email me to discuss your proposal today.
