How Project Research Can Help Your Business Succeed
In this week’s podcast, TM’s Founder, Dwight, is back to discuss the importance of doing proper project research and having an abundance of data to go from before beginning new business ventures.
Any research is important, but when was the last time you actually conducted research on your business itself? That outlining data is a wealth of knowledge that all business owners should take into consideration, and it could include:
- Benchmarking and taking insights on what you forecasted, what happened, and how you realigned your strategy
- Understanding what your business is and how it’s operating, such as its website, marketing efforts, resources used and available, development staff on-hand, and so much more.
The online landscape changes daily, and it’s imperative to keep this in mind when choosing strategies and ideas to implement for your business. For example, social media channels are huge platforms to promote and advertise your business, but are you sending them back to your website and leading them down an intended path for revenue increases?
These are all thoughts and processes you should be making with your business after doing the proper project research.
Client Case Study
When it comes to starting a new business, it’s crucial to consider the time it will take for search engines to “pick up what you’re putting down.” The chart below illustrates the analytics over time for a client whose website we launched. At first, incoming traffic was pretty slow, but gained traction over time as the site was embraced by Google’s algorithm.
The next chart displays data from the relaunch of our client, SJD Taxi’s website. For this relaunch, we conducted thorough research looking at their marketplace and the traffic they buy during peak seasons and off-season. As you can see, the client had a steady search engine presence prior to the launch, but saw a significant increase in clicks and impressions post-launch. We took the client’s existing data and used it to make informed decisions about how to improve their website, their incoming traffic, and their visibility on search engines to give them noticeable results.
You may ask yourself how do you plan for and rebuild a site to improve upon existing metrics, traffic patterns, and conversion rates? Upon launch, how are your speculations validated and, what do they now say you should do? Owning a business is an ongoing process, and it’s necessary to not only keep tabs on the data your website is producing, but also to take that data and use it to guide future business decisions.
Factors to Remember
Before you decide to invest in growing your business, do your research. Develop a fool-proof strategy that includes ways to measure your success – and don’t be afraid to switch strategies if you find it isn’t delivering the desired results!
For More Information
If you need assistance in properly researching information about your company, audience, or strategies, contact TM today. We offer consultation sessions which help our team learn more about your needs.