Reading Time: 3 minutes
“Running a company on market research is like driving while looking in the rearview mirror”, says Anita Roddick and we couldn’t agree more. To break down what market research is in a simpler form, it is considered the backbone of any business. When you first think of a business idea or come across a business opportunity it is important to understand the market landscape, who your competitors are in addition to knowing your consumers. The first few months can prove to be precarious to any new business and if you haven’t spent enough time and effort into market research, then you’re not going to have a business model strong enough to ensure that those customers don’t stop coming to you. Let’s look at what market research entails and why it is important for businesses to invest in it.
What is Market Research?
Market research is the simplest and most efficient way for businesses to keep up with the industry trends, identify consumer problems and track realistic competitors while maintaining an edge by sizing up a business opportunity. It isn’t a specific activity or a method, it’s just an attempt for businesses to learn more about their target audience to maintain relevance and longevity of their business. Market research can be carried out in different stages depending on different objectives – for instance, if your business is launching a new product or service, conducting research from the pre-launch stage makes sense as it will help you gain a sense of how your target market may respond to your product/service and help you establish a sound business strategy to grow your brand and leave your competitors behind.
Now that we have a better understanding of ‘what is market research’, let’s look at how it could prove to be fruitful to a burgeoning business and ensure it’s growth and longevity, or simply put – the importance of marketing research for businesses.
- It helps you spot business opportunities – When you spend adequate time on market research, you don’t just learn about your customers in-depth but also identify other avenues for growth like viable partnerships with other businesses and crack deals that can be mutually beneficial. Additionally, your research findings can also help you in coming up with product extensions, product bundles and upsells that can help increase revenue.
- It helps you understand your customers in-depth – For businesses, the role of marketing research comes into play in understanding and solving customer problems and their pain points in depth. There are certain exercises that you as a business owner can conduct to get a better understanding of who your target customer is and how they behave. Some of these include surveys, one-on-one interviews, focus groups, telephone interviews amongst others.
- It helps you understand your competitors and their approach – If your business is in a heavily competitive space, knowing and understanding what your competitors are doing is instrumental in establishing a different marketing strategy for your business. Market research helps you assess the key players and what they do. Additionally, it can also help you identify the weaknesses in your competitor’s approach and identify the gaps that you can bank on to win over customers, thus defining the importance of marketing research. Knowing what your competition is doing and staying ahead of them is pivotal to the success of your business.
- It helps you in business growth – The role of marketing research is pivotal in detecting more business opportunities, devise the perfect marketing strategy, stay ahead of your competition, capture relevant insights and grow your business while minimizing your losses. It helps you categorize your objectives while staying relevant to your target customers. An effective research strategy will not only help you predict some of the pitfalls but also help you navigate through them. The process of market research is designed to reduce risks, devise apt marketing strategies and growth models that are cost-effective for your business.
- It helps you identify the right channels of marketing – Once you set up your business, you need a solid marketing plan to build awareness and acquire customers. Market research can help you in reaching your target audience in the channels where they are most likely to see your brand. The importance of marketing research lies wherein you can get detailed insights about your customers, what they do, whether they are digital-savvy or not, what kind of messaging they will respond to and how you can reach them. Once you have this information, you can then devise a marketing strategy that takes into account all the right channels of communication, the right kind of messaging and the right kind of budget to amplify the messaging.
In conclusion, all we’d like to say is that if you are a business that’s just starting out, ensure you spend enough time and resources to get a better understanding of the market landscape as it guarantees success and growth. We have put together this article to help you understand what is market research and to elucidate the importance of marketing research for your ambitious business plans.
Reach out to our research experts to know more about how you can create the right market research strategy for your business!
Reading Time: 6 minutes
According to Cisco, by 2022, 82 percent of the global internet traffic will come from video streaming and downloads(2019). Video Content Marketing is not a new development as we’ve witnessed these video ads on television for a long time. But with the commencement of the accelerated internet and with brands trying to bid for the consumer’s limited attention, video marketing seems to be the way to cut through the clutter for most brands. Videos are one of the most effective ways to communicate with the audience as it increases traffic, engagement, sales and helps them to understand our offerings in a comprehensive way. So, if you haven’t incorporated videos into your marketing profile, here’s your cue to do so!
But take it from us, creating videos is not as difficult as it seems and there are some amazing tools to create your videos easily. So to help you further, we have compiled a list of top 10 tools and softwares for creating amazing videos to make the work easier for you in your video creating journey. Most of these have a free version making them affordable in the long run. And the icing on the cake? Many of them are Facebook recommended too!
So without any further ado, here are the top 10 online video editors and free video makers for Indian marketers to create amazing video content:
Animoto is the DIYs of the video creation world used by all ages for creating and optimizing videos. It stands by its slogan: “make it simple, make it beautiful”. Animoto is a leading video creation tool and helps you create unique, tailor-made videos for your brand with a large library of pre-designed templates and the many aesthetic themes to choose from. The user can either upload their pictures and videos or use the high-resolution stock images by Getty. With its flexible controls, one can be assured of quality videos while the interface makes it fun to create and personalize! They are certified partners of Facebook, Youtube, Twitter, and Hubspot and are available for all devices on IOS and Windows desktop. To unlock all the features, you can upgrade to the annual subscription of $33 per month.
If you want to make professional looking videos in minutes, then Invideo is your answer. Invideo is an online video editor for android as well as iOS, with drag and drop features that make video creation simple. Invideo has an entire library of pre-made templates and media which are vibrant, stylish and pleasing. Another amazing feature is that it lets you turn your articles into a video in a jiffy by just pasting your content and selecting the images to go with it. You can also add music of your choice to your videos. It’s a one stop shop for anything video related from long form ads, bite sized ads to invites, brand intros and promos. They also provide various tutorials to get you started. Invideo has a free version where you can export up to 60 videos and the paid version starts at $20 per month to unlock the remaining exciting features.
Ripl is a good video editing app and website, that lets you create engaging and professional looking content for social media. You can create anything from a story, to static posts to promo videos with the help of Ripl. It offers you an array of templates to choose from and gives you access to around 500,00+ stock images and videos that you can customize according to your brand requirements to create consistency across social media platforms. Once your content is ready, you can post it instantly from Ripl to multiple social media accounts and can also monitor the performance with the in-built engagement metrics. It also lets you schedule multiple posts in advance and share from any device. Ripl has a 7day free trial and the paid version starts from $14.99 per month.
Videoshop is a popular phone app for video editing, available on both IOS and android that helps to create videos on the go. If you’re new to video editing, Videoshop is a must try. Apart from the basic features like text and filters, you can also modify the speed to create slow motion videos and include transitions and animated titles to elevate your video. One can also adjust the display and add voiceover for their video. It helps beginners to get comfortable with optimizing videos by providing a user friendly interface and simple drag and drop features. The video will have a watermark which can be removed by upgrading to the premium version.
Unfold is widely popular with the masses for creating simple and elegant content. One of the most famous video editing apps, it offers stylized templates and fonts to turn your videos and photos into aesthetic stories. Unfold has a brand kit where you can store your creative assets. You can set your brand colours and add them to your palette and upload custom fonts and sync logos and stickers for consistent branding. An app used by global giants like Apple and Prada to aid their storytelling, it is considered the best application for video editing. It is available on IOS and Android with in- app purchases starting from ₹65, which is a great price for a good video editing app.
Similar to Unfold, Mojo is another phone app for video editing and creating visually appealing stories on social media. Mojo helps in creating minimalistic, professional looking stories with brief animation to them. Plenty of formats and texts to choose from, it is suitable for any type of story and can be customised for Instagram, Facebook as well as Youtube. Mojo is a good free video editor app but to get access to all the templates, you may need to upgrade to Mojo Pro. Mojo works better on IOS as the android version doesn’t have all the features yet.
Biteable is an online video editor for android and IOS, which is simple and fun to use. It’s a great place to start making ads, explainers and other social media videos. You can create a video from scratch using your own photos and the animations available or select a professionally crafted template. There are diverse topics and templates to choose from, including the recent coronavirus themed videos used by brands to educate their audience. On the free plan, videos will be watermarked and they have 2 premium plans starting at $29 per month but you can save up to 50% if you choose the yearly billing option.
Clideo is one of the best applications for video editing for beginners with basic features to simplify the process. The video creator has convenient resolution presets for Instagram, stories, Facebook and Youtube and an easy-to-use interface while keeping the files protected. You can edit, cut, compress, merge, add memes, use stop motion to create attractive videos. The files are protected as the videos are only stored for 24 hours and are also faster as it works on the browser. It’s a Freemium site, meaning it has both the free version and the paid version starting from $9 per month.
Have you seen those pictures where the waterfall seems to be moving while the other elements are still? It’s called animating a still picture and this app helps you do just that. Plotaverse is a “patented” phone app for video editing and a digital sharing platform available on all devices including IOS and Android PC. It brings images to life by converting still photos to motion art with simple drag and drop animation. It’s a 4 app in one having Plotagraph (photo animator), Plotamorph (photo FX editor), Plota FX (video FX editor) and a daily app challenge (having a new image to animate every day). This app helps to craft visually stunning motion images with features like photo & audio overlay, real- time animation speed control, photo animation presets and Apple pencil pressure sensitivity. It’s a good free video editor app so if you want to create those cool pictures with effects, then Plotaverse is the app to go to.
Introcave is a famous video editing app for intros on youtube videos. Intros in videos have a bigger impact than we realize. Intros capture the attention and urge the viewer to watch the entire video. Introcave ensures that the intros for your videos are captivating enough. With an extremely simple interface and vast range of templates, it makes the intro creation effortless and professional. The process includes 3 simple steps. You choose the template that is suited for your brand, customize the font and add the colours according to your logo and download it. It’s that easy! Introcave is a good video editing app that has readymade templates for varied categories, durations and specific customizations. Apart from intros, you can also create logo animations and outros for your various social media and gaming channels.
With a wide variety of tools, apps and websites to choose from, you are spoilt for choice when it comes to making your videos online for free. Here’s wishing you luck on your video journey and hope this helped to give you some perspective on how to elevate your videos for marketing.
Did we miss out on your favorite software for video editing? Let us know in the comments below!