First of all, we must state that the methods we will mention in this article are actually the practical and amateur side of the business. In other words, if you give importance to your idea or the work you will do, it is beneficial to take care to have this work done by professionals. Our recommendations will only help you get an idea.
Before proceeding to the explanation and detail section, let's list what we will research;
Competitors/Existing Firms in the Sector
Estimated Audience
Estimated Visits
Estimated Advertising Costs
Infrastructure Costs
Identification of Competitors: Usually, this is the easiest topic. Because if the idea is not an idea implemented for the first time, it has definitely been seen on a different site and has drawn interest. However, it is still possible to estimate your potential competitors by searching for the main keyword of the sector you want to enter on Google. Generally, the first 10 results will be your toughest competitors.
Estimated Audience: In our opinion, the truly important analysis is audience identification. It is possible for you to identify this with the Google Keyword Tool. Of course, there are also many paid/free applications and websites available in the market. Querying your keyword to check its monthly search volume and the change it has shown from past to present is also among the important topics.
Estimated Visits: Estimated visits is indeed a process based on estimates. If you do not have a strong firm you know in the sector, in my opinion, it is necessary to use the idea of audience/10. Considering that the ideal click-through rate in our country is 10%, it is quite logical. At least you will see that you caught a close rate.
Estimated Advertising Costs: Advertising costs are essentially limited to your budget on the digital marketing side, but it is beneficial to know what portion of the audience you can appeal to. Likewise, the Google Keyword Tool will come to your rescue here too. On the other hand, it is beneficial for you to carry out a research regarding other platforms you want to advertise on (social media, TV etc.) as well.
Infrastructure Costs: We researched the sector, our advertising costs are clear, our target audience is clear. There is only one process left. Which infrastructure is suitable for you? The most important point to be considered here should be choosing an infrastructure that can fully respond to your sector and your needs. It would be more correct if topics such as being corporate and being fast remain in the background.
Market research or sector analysis (whichever sounds cooler to you) is of course not such a simple topic, but we hope these ideas will do the job for those who do not have a budget or who like to undertake every task.