Marketing Research 2024: How to Find Your Competitor's Secrets (Step-by-Step)

Contact us: www.lyfemarketing.com/digital...
Marketing research may seem overwhelming, but it's crucial for your business. Here's your step-by-step guide explaining the market research process, how to do market research, and market research tools and analytics that will help you improve your marketing funnels.
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Marketing research is important because you want to have it nailed down before you even think about marketing.
In fact, in 2006 Microsoft released a product called Zune that was supposed to compete with Apple’s iPod.
But the product was discontinued in 2011 because they failed to differentiate themselves, and according to a former Microsoft executive, it just didn’t give people a reason to choose it over the iPod.
So clearly it’s important that your marketing research is on point.
And in this video, we’re going to take a look at some of the steps we take to do marketing research.
Video Outline
Marketing Research 2022 (00:00)
Analyze Your Product & Audience (2:37)
Determine Your Market Size (4:03)
Competitor Research (14:26)
Differentiation (25:32)
// LYFE Marketing
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➡ We're LYFE Marketing, a full-time digital marketing agency for small businesses. We help people grow online through various marketing channels. We help you de-code if advertising is the right fit for your growth trajectory, or see if organic growth is more of your speed. Regardless, our goal is to build a massive portfolio of success stories. So one day, we can look back and say that we made a difference in the world. This channel will provide you with good tips and suggestions for a large range of marketing topics. And we're not holding back. But if you want a tailored strategy, then don't hesitate to contact us on our website.

[@ahsanal-dhahi]

Finally after a long searchtime i found one video which actually shows how to do and talks about how to get about it. Bro awesome video in depth knowledge and easy to understand, keep growing bruh! plss can you makea video in market research and what are the things to consider in product developement like for beginners/starters with full tutorials and detailed video if possible plss....✊🏼

[@ceydanursudurag4667]

I used a competitor analysis strategy to grow my business, it was important for me to research what I could do to stay ahead of my competitors. I discovered competitor analysis tools, I use WASK's competitor analysis tool and I even recommend it. Competitor analysis is a good strategy in my opinion.

[@LYFEMarketingAtlanta]

Awesome!! Thanks for sharing this information.

[@dee_909]

thank you for this helpful and informative video! You really take the time to teach us how to do this market research! THANK YOU!

[@LYFEMarketingAtlanta]

You are so welcome!

[@The1CoolLeo]

Yo, very helpful. I can appreciate the detailed breakdown and live deep dive to show exactly how you go about it. Not many are showing you that

[@LYFEMarketingAtlanta]

Glad you enjoyed it!!

[@feleciaward1563]

Love the step-by-step tutorial and the new Facebook Ad Library Tool!

[@LYFEMarketingAtlanta]

We're so glad you enjoyed!

[@fatmahassoubah7508]

the best channel online

[@mariaakpoduado]

This video is so helpful. Now I know how to approach the marketing research I'm about to embark on

[@LYFEMarketingAtlanta]

Awesome!!

[@HeyMissFay]

Thank you for teaching and entertaining us 🙏🏾

[@LYFEMarketingAtlanta]

Thank you so much for watching! We're really glad you found our video helpful :)

[@claudialeiva3791]

This video was very helpful. Thanks!

[@LYFEMarketingAtlanta]

Glad it was helpful!

[@labelledbyLAMI]

This is the absolute game changer for me!!! Thank you for this video.

[@LYFEMarketingAtlanta]

Glad it was helpful! Make sure to subscribe if you haven't already!

[@Iminvincible]

Such a big value, given so freely. 🥺

[@LYFEMarketingAtlanta]

That's the goal!

[@traceywahanui1918]

Thank you this was very helpful ❤

[@LYFEMarketingAtlanta]

You're welcome!

[@kimanhdang5843]

It’s really helpful. Thanks!

[@LYFEMarketingAtlanta]

Glad to hear it!

[@malldemelanin]

Great breakdown of analyzing.

[@LYFEMarketingAtlanta]

Thank you!

[@somethingunusual9643]

Best video to show research. ❤️

[@LYFEMarketingAtlanta]

Wow, thank you!

[@abelemiliano4067]

Instablaster.

[@Kiki-mt7iz]

Wow!!! I love love love this video. It is one of the rare youtube videos that actually teach one something. I love the practicality of the video and the presenter's sense of humour :)

[@LYFEMarketingAtlanta]

Thank you so much!

[@vg___]

really helpful video and enough details to takeaway. Thanks for posting this vid! One question, when using the Semrush software, which plan are you on to match your features? I assume it's the Pro plan

[@LYFEMarketingAtlanta]

Hello! We're currently on the Guru plan,. Feel free to check out what the plans include here: www.semrush.com/pricing/

[@tracyhicklin4266]

Great!!! This was just what I needed to get my business started on the right foot. Thank you so much. You mentioned a vid you were going to give a link in the video but I did not see that link. Would it be possible for you to give me the link?

[@LYFEMarketingAtlanta]

Great to hear! Can you let us know the timestamp of the video mentioned?

[@annes2144]

Thank you for an awesome video, can you please create another video on competitors research in more depth, using different platforms that was mentioned in your video please

[@LYFEMarketingAtlanta]

Great suggestion!

[@annes2144]

Thank you for responding! This is the only part I'm stuck on.

[@Socialmediamadam]

I have been having difficulty in carrying out a market research and this video just made everything easier. Thank you so much ❤️

[@LYFEMarketingAtlanta]

Glad it was helpful!

[@aldennamoro_channel-13]

I love the exact research that you did there for one customer... ahahha longitude and latitude...on point. Lol

[@LYFEMarketingAtlanta]

Glad you found it helpful!

[@bradmi1miller421]

awesome YT video.. what tool do you use to get the total amount shown on Facebook ads to show?

[@LYFEMarketingAtlanta]

Hey, thanks! You can view all of your ad analytics in Facebook Analytics!

[@frfvipcom3994]

great informative video but the background music is disturbing ❤

[@LYFEMarketingAtlanta]

Thank you! This is noted.

[@ioannisglossopoulos676]

Ι love Lyfe!

[@LYFEMarketingAtlanta]

LYFE loves you too!

[@ContrarianBehavior]

I literally "liked" this at the evil laugh mark! Mwahahahaha

[@alexyliu8455]

can I just say this video almost cover the information of most business school didn't talk about ?

[@LYFEMarketingAtlanta]

Hello! I'm having a hard time understanding your question. Can you be more specific?

[@alexyliu8455]

@@LYFEMarketingAtlanta i am saying your video is awsome

[@LYFEMarketingAtlanta]

Thank you! We appreciate it!

[@naveennew883]

Hi lyfe how to open facebook audience insights

[@LYFEMarketingAtlanta]

Audience Insights is a function within the Facebook Ad Manager. You can find it by clicking the drop down menu under “Tools.”

[@naveennew883]

@@LYFEMarketingAtlanta hi lyfe please share your email id

[@miss0lialei]

@@LYFEMarketingAtlanta how could you tell (for dermstore) 1.4M traffic cost was not accurate? Please advise.

[@hashirahmed5727]

why cant i see the graph and the list like this?

[@LYFEMarketingAtlanta]

Hey there! Things may have updated since this video was made. What do you need help with?