Sources of valuable information about competitors
The investigation phase of online business models is relatively easy and rapid, compared with traditional market research techniques.
Google and other search engines, Bing, Yahoo, Twitter search engine, LinkedIn, or search engines for applications, such as Google Play, can be of great help at the time when we want to identify competitors in the market and new trends.
Blogs (which are digital media that include text, images, video, and multimedia content), newsletter (which consist of periodic emails relating to certain issues and tenders) and the websites of private and official companies are all instruments and sources of very relevant information.
Online businesses are more transparent
Through all these instruments and others, we will see ourselves later, we could extract important information about e-commerce because online companies are more transparent than the traditional market and therefore share highly valuable information in a completely free way.
Since the world of e-commerce is constantly changing, it is advisable to carry out a continuous market research and an incessant revision of the data accumulated in the past.
Tools that facilitate the market research
Monkey survey is the most popular and is essential to the market research. In fact, this tool facilitates the design of polls and its share, by completing the database of monkey survey and that of your e-commerce, making the results almost immediately.
Indeed, achieving a market research through traditional polls could last weeks of precious time that online is vital to save and invest in what is relevant for your e-commerce.
E-commerce projects are startups
We must then take into account that in e-commerce the projects are considered to be a startup for all effects because it is new companies or companies that incorporate themselves into existing bodies.
Start-ups do not have well-defined shop models, they simply have assumptions that need to be verified on the market. Fortunately, in e-commerce, there are a lot of free tools that help to verify the degree of development and implementation of these assumptions.
The speed of execution and the rapidity of reception by the information means that in the world of e-commerce it is possible to modify prior decisions and consequently change the strategies before entering a red hazard zone which would Jeopardize the existence of the same online business.
Market research then also includes other areas such as the search for customers, products, market trends, but also legislative information or for personnel selection.