3 Ways to Learn More About Your Market Audience Without Breaking the Law

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In the world of business, intelligence is very important. We’re not talking about intelligence as it pertains to how smart a person is, we’re talking about intelligence in reference to knowledge about a certain person, a government entity, or an enemy’s plan on the battlefield.

In the world of business, your walk could be likened to a war. You’re in competition with your enemies for something. Most of the time, it’s dominance. Everybody’s out to show everybody else who’s boss. With certain intelligence, a business has to be sure to comply with regulations put in place by certain agencies. Though overseas the law is broken a lot in times of war, that doesn’t fly in business. You have to play by the rules. If you don’t and you get caught, you’re done for.

You might argue that the big boys in business bend the law all the time. They find loopholes so that they don’t have to pay taxes, and they use their clients’ information as a way to make money on the back end…but those who play by the rules get rewarded in the end. Dirty money is dirty money. If you’re a business trying to figure out how to learn more about your market audience and you want to do it without engaging in illegal practices, here are 3 things you can do:

Ask Them

The bible says “Those who ask shall receive”. Maybe you’re not religious, but it’s a simple enough principle. If you don’t ask for what you want, how can you ever expect to get it? If you’re a business who is trying to hone in your product or service to better serve your client base, just come right out and ask your market audience what it is they want. Most of the time they’ll tell you. If they don’t know what they want, you can then do the research to figure it out, but the first step is simple. You just ask for a bone.

Go Into the Field and Observe

The people in business who are making the major operating decisions are often disconnected from their workforce and market. They make decisions based on finances and what they think people want, but those who actually go into the field and observe their market can make better informed decisions that are based on facts. A boss who goes into the field, observes people, and sees what others are doing is going to have an easier time learning about their audience. Learning begins with observation.

Build Relationships

It’s the route that takes more time and effort, but the people that just buy information about the market are missing something huge. If they’re not out there building relationships, they’re just taking in data and the application of that data is often  inaccurate. A business that builds a relationship with their market knows them intimately and can predict what they’re going to do and what they want.