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How much would you pay to receive a 12 month marketing plan?

We have positioned our consulting products to be affordable to start-ups and small business,... read more

Asked by:
Yee TrinhCo-founder at SavvySME
It would really depend on what results the marketing plan would be able to deliver. If it can generate x number of clients or leads, x increase in traffic, x% increase in profit... From the client's point of view, it's all about ROI. They might be willing to pay $20k if it can bring in $200k work. Conversely, $1k would be a bit exorbitant if there's no sign of results generated. Focus on the value you can deliver for your client and be able to communicate this in numbers... and you can charge however much you want, relatively speaking.
Ashley BryanOwner at Webstrategies Pty Ltd.
Hi Lauren. Hard to say without more detail on what I actually get. Is it really detailed like a blue print that I'd follow every month and refer to, or general guidance/ideas? This is my rough thought: detailed blueprint: $1000. More General guidance $500.
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I'm thinking of using social media for my marketing research. How do I do it effectively?

With the advent of Facebook, Twitter, etc., social media is one of the most relevant platforms for... read more

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How do you research international markets?

What sources are recommended for US, UK and Asia? read more

The answer to how you research international markets dependssolely on what it is that you want to discover. Are you interested in consumer trends, local legislation, trade incentives, licensing or distribution options, cultural preferences? There are a million factors that could be of significant to your enterprise, and they will be different in each country. If you are in Australia Austrade provide an excellent service, they have briefing documents on the market characteristics and barriers to entry on most countries and offices in almost all Australian consulates with trained staff able to provide feedback and even set up appointments for you.
Prosper TaruvingaDigital Marketing Expert at Livelong Digital Pty Ltd
You can use various internet sources or your trade magazines, following the trends in your sector – especially keeping abreast of what is happening internationally – will help you build the right knowledge base.General current affairs publications that provide economic analysis will also help you see the big picture and where future demand is likely to be in those areas. Also, you cannot underestimate tapping into your network and talking to your business contacts, especially people in the region you are looking to get into. And don't hesitate in approaching new ones; those accidental encounters that open doors are a reality for many businesses.The more costly option is to outsource your market research. You could consider hiring a market analyst or a consultant who will have the right knowledge, experience and specialism in the industry or a particular market you are looking to expand into. They will help you assess its attractiveness and potential. Big businesses rely on these as a matter of course, but they may not always be an affordable option for smaller businesses.The lower cost option is clearly to do the research yourself (in fact, market research is most commonly conducted by entrepreneurs this way), although this will of course place bigger demands on your time. That said, if you do choose to do the work yourself, you could approach a whole network of International trade offices across the world that may help you generate the right contact leads, give you an overview of the market or help familiarise you with the legislative requirements.If you are looking to test the market more seriously, trade shows can be one of the most effective ways to showcase your business, meet buyers and distributors and conduct some face-to-face market research with customers.Hope this helps?
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Market research

The Google App that dethroned PokemonGo

It’s a day I thought I’d never see…PokemonGo dethroned by a Google App. While the augmented reality... read more

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Jasmine Rawlinson Digital Content Writer at SponsoredLinX
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Jef LippiattOwner at Startup Chucktown
Sounds like I need to check it out. Thanks for sharing.
Questions

An Online Survey, have your say and help me understand you (my customer) better

Hi All, I am conducting a  short survey and would love anyone and everyone to participate. If I... read more

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Michael Tutek MD at Preezie
Steve OsborneOwner at Smarthinking
Recently shopped at Harvey Norman for new kitchen appliances: wall oven, stove top, dishwasher. My responses:1. a2. a3. aProcess could not have been easier. We got exactly what we needed, at a price we were happy with, with no upsell sales pitch.
I'm a techie so I do all my research before I buy anything. By the time I get to the store, I already know exactly what I want.
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Questions

How do you find what's trending in your industry real time / today / this week?

Asked by:
Yee Trinh Co-founder at SavvySME
Felicity LawOwner at FelicityLaw.com.au
I use LinkedIn also. You can check what groups people are following in specific roles and industries. I also subscribe to media alerts and specific industry publications. As an example, in the HR field it is AHRI, and HC Online. If the industry is construction for example, I would use media alerts, regulatory bodies' websites, and Tendering alerts. There is Seek where you can see what is going on too, industry whitepapers and good old google. Try googling "industry trends" - Deloitte have research stats as does business government websites.I hope this helps.
Jef LippiattOwner at Startup Chucktown
I typically use 3 techniques to stay current.Twitter scavenger hunt - I review tweets from segmented lists of leaders on a given topic or industry. I look through trending hashtags to see if anything warrants my attention. I check industry hashtags (even if they aren't trending) to see current level of activity or discussion.Review related blogs and websites - I check industry related blogs to see if there are any new posts for the day (and then to see if they are of interest - I won't just read every new thing). Then I move on to websites that are known for surfacing emerging ideas, products and services (such as Product Hunt).Local Events and Meetups - I try to go to local industry meetups at least once every other week to hear what other locals in my industry are seeing or watching.I do also use LinkedIn groups, but as Steven said, I find most to have limited impact for me personally. Many are not very active or the ones that are don't seem to bring up topics that personally interest me.
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Market research

IBM CMO survey: Customer-led marketing is the top priority

Developing deeper, richer customer experiences is the top marketing priority for CMOs this year,...read more

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Market research

Top 5 Qualitative Market Research Techniques

Qualitative market research is a powerful tool to plumb the depths of new territory and discover... read more

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Jef LippiattOwner at Startup Chucktown
I agree that focus groups have limitations, especially since it is questioning out of context. You may be asked if you'd buy something that costs hundreds of dollars (which without having to hand over at that time skews the context). Many of these areas overlap with User Experience Design, however, the focus or outcomes are used differently. One method I use is Contextual Inquiries which is very similar to in-depth interviews. The point is to see the user in their natural environment interacting with the product as they would if you weren't there with them. Another great method that is similar is the Master-Apprentice relationship. Let the user or customer know that they are the master and you are there to observe and learn from them. This sets up the stage to grow a bond of mutual trust.
Phil KhorFounder at SavvySME
Great article Alex! I guess it pays to use a combination of techniques but I often find 'observation research' you referred to as most useful. I suspect our human brain knows more subsconciously about what we like or don't, than words can ever describe. So I reckon it's more accurate to observe what people do, rather than what they say.
Market research

Top 20 Online Customer Survey Forms

Online customer surveys are a great way to gather information, from voting for your next team... read more

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Wendy Huang Full Time Blogger and YouTuber at A Custom Blog in 4 Minutes
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Kathie BolithoDIrector at Tough Cookie Marketing
Great information, thanks!
Sharee JameiWeb Developer at SavvySME
Thank you!
Questions

How many small to medium size Australian businesses are sold every year in Australia?

A stat that I had trouble finding information on - How many small to medium size Australian... read more

Neil SteggallPartner at Wardour Capital Partners
Hi Johnathan, I did a little checking and came up with a June 2014 report prepared for the Australian Institute of Business Brokers (AABB) which could provide the info you are looking for. I cannot attach the file here but if you email me - neils@ (wardourcapital.com - added as the site blocks email addresses!) I will forward a copy of the report to you. A good site for statistics on various industries is bizstats (.com.au)they have a good selection of free data and a wide range of specific industry data available at low cost. I hope this helps, let me know how you go, Cheers, Neil.
Hi Jonathon,  I am not sure have you rang the ABS?  In my experience they are very helpful and many stats that don't appear on their website are available if you are prepared to pay a small fee for them.  With small business contributing significantly to the Australian GDP it would be surprising if they didn't have it somewhere. I also want to add an initial thought that popped up when I read your question. It is this - "how many business are sold in Australia each year for what the business owner felt was a fair price" Too often I see business owners slugging away focused on revenue when really their focus should be asset value.  It is sad that over the last 15 years or so I have seen many (that's right MANY) business owners walk away from their business because there was no buyer.   They had either set up the business to rely on them and so when it came time to retire they had no business to sell. Or, the business had no assets such as a customer database, documented marketing campaigns, successful sales funnels, robust financial systems etc.    It should be noted too - these businesses are not included in the ABS business stats on business 'failure'. Succession planning and asset building is essential.    
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Questions

What makes the best corporate Christmas gifts?

Naturally being from Oak Room Wines we are hoping that you will say something to do with wine ;)... read more

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We had great success with books this year with a hand written note inside. Of course the suggestion was that you enjoy it by the pool over the summer break with a glass of wine!
Leo EliadesOwner at INSPIRENOW PTY LTD
Love wine! and don't mind beer however I prefer something that will hang around perhaps just a little longer.  
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Questions

Which business are you REALLY in?

This was in Darren Hardy's blog,... read more

Asked by:
Gill WalkerOwner at Opsis
As business owners, we are all in the Marketing Business. Without marketing there are no customers, and without customers there is no business.
Richard SchembriEntrepreneur - Team Coach and Mentor in Network Marketing at Team Berrygood
Hi Fleur, Awesome question! I guess in my business I can offer a range of products to create a healthy lifestyle. I can also offer an alternate income source for entrepreneurial mined people. My "job" is to listen to the client and see where I can help them, finding a solution to their needs. So I am in the consulting business! Thank you for the reflection.   Richard Schembri
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Questions

How do you approach a competitor for market research?

I am wanting to do some research in a niche market for an entrepreneurial friend, and without doubt... read more

Asked by:
Ling Lee Director at Japanese Sword Auctions Australia
Ling Lee, that is a really hard question to answer with no context!  But I'll give it a go. The very first thing you have to do is decide whether you are going to be upfront about the fact that you are a (potential) competitor or whether you are simply going to pose as someone interested in the area and see what they will share. There are cases where similar businesses are not competitors - often because they are in different locations and customers want someone local, or possibly two restaurants on the same street offering different cuisines - but more likely you will find it is not in their interest to share with a potential competitor.  So an honest approach may limit the amount of information you get. If you want to be honest (and depending what stage your entrepreneurial friend is at), one approach is to explain that you are trying to decide between a number of niches and you'd really appreciate any information about whether this is a good niche to invest time and money into. If you're happy not to disclose who you are, you can often get a lot of information by ringing up posing as a potential customer and just asking questions chattily to see what comes out of it. Whatever you decide, the general rules for gathering information are a) be polite and friendly b) respect their time and if they prefer fix a time to call back which is more convenient for them c) say thank you and d) ask them what other sources (publications, associations, websites, individuals) they think might be helpful for you in your research.
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Market research

Do Customers Know What They Really Want?

  It's constantly drilled into us to listen to our customers. The standard process is: identify... read more

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Market research

Decoding your Facebook page – Facebook Insights

Do you have a Facebook page for your business? I’m sure you do. But I wonder how many of you bother... read more

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Ling Lee Director at Japanese Sword Auctions Australia
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