How Mobile Market Research Helps You Improve Your Local Business

Entering new markets can be quite a challenge for small businesses. It is common for them to need help finding comprehensive market entry strategies that help them boost sales and profitability. However, offering a broader product line with a wider appeal is important for many business owners.

Naturally, business expansion can be risky for a business. It brings unfamiliar challenges and new competitors, involver many questions: 

  • Will consumers in this new market embrace my products?

  • How successful are my competitors? Will the consumers be willing to switch the brands they are currently using?

  • What products should we offer for the most significant appeal?

  • Which promotional materials and pricing work best for penetrating this market?

And so on. 

The good news is that one effective way to combat the uncertainty of entering new markets is, well, with data. That is, collecting information regarding customer behavior, competitors, and local market conditions before you join. 

Market research helps your business develop growth paths and plays a crucial role in de-risking market entries. More specifically, mobile market research is the tool that lays the groundwork for this to happen, as it is the most cost-effective and convenient way of researching new markets.

Mobile research can help your business to: 

  • Analyze market size and growth potential

  • Assess your competitors and their strategies

  • Explore distribution channels

  • Identify potential partners

  • Investigate promotional opportunities

  • Refine price points and pricing strategies

Helps Your Business Target Potential Customers

You can accurately and efficiently identify new customers in new markets using mobile technology. Moreover, it will also help you conduct customer behavior research to see how shoppers could respond to your products or services. 

Mobile market research will help your business map the ideal customer and the customer journey so that you can develop the perfect market entry strategy. 

Allows you to keep an eye on the Competition

Inevitably, a crucial part of market entry research is competitor research.

Conducting an in-depth competitor analysis to study existing businesses in your targeted new market is crucial to understanding the market and the environment in which you must compete.

Mobile Market Research provides tools to help you better understand competitors, their market position, their brand promise, and more. 

Robust and Actionable Insights

With Mobile Market Research, you can have low-cost and quality access to real-time data that will enable you to make decisions when and where you need to. 

Through our crowdsourcing model, SmartSpotter gives you that visibility by mobilizing people on the ground to conduct field research. You instantly see what they found, together with analytics that reveal what it means.

Smart solutions for your market entry strategy

Developing strategies to enter new markets does not have to be tricky. With Mobile Market Research, no matter how small your business is, you can expand it faster, more affordably, and more efficiently.

Contact us for more info!