The Internet has made market research a lot easier, there are plenty of tools and sources of data out there for you to use.
Sources of Data
- UK National Statistics – A great source of statistics on all sorts of things
- Office for National Statistics – again, this overlaps with the above resource, a great source of stats on things like demographics, economy etc.
- Google Trends – This is a good way of getting an idea of whether your market is growing or declining or even reaching saturation.
- Google AdWords Keyword Tool – Make sure you untick “Broad Match” and tick “Exact match” to get accurate numbers on this tool. It will enable you to work out market size (or search volume market size at least).
Market Research Tools
- StatWing – can help you analyse data and identify where relationships may exist
- Google Analytics – Put Google Analytics on your website and you’ll have a wealth of data at your fingertips (learning how to analyse and use it is the hard part)!
- Google Consumer Surveys – you can survey UK based respondents and you can also filter by demographics, prices range from $0.10 per person per question response.
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