Market Research Advice for Small Businesses

Research your market

Before investing any money on developing or advertising a new product or service, it is important to find out if anyone wants it. Researching the market enables you to test your idea, evaluate the competition and check to make sure your idea is viable.

The following headings will help guide you through the process.

USP

The first thing you need to discover is what sets you apart from all the other competitors in the market. There is a temptation to say that the people within your organisation is what makes it unique. Unfortunately, that’s not good enough. Consider the following:

What does my product or service provide that is better than anything else available?
How can I go the extra mile to ensure my customers have the best user experience?
Is my product or service required by the general public or is it more niche?
Can my product or service solve my customer’s problems in a way that’s never been done before.
How is my product or service easier to use than that of my competitors.

Customers

It is essential to know who your customers are so that you can tailor your products and services to meet their needs. Defining them will also help you build a relationship with them in your communications. It is highly probable that you will have multiple customer types. To help you identify your customer types consider the following:

Who is buying similar products and services?
Create a picture of each of your ideal target customers based on their demographic (age, gender, profession etc.), likes, dislikes and behaviours.
What needs or problems will your products or services solve for each of your customer types?
Will your customers types be interested in paying for the products and services you offer?

Prices

Once you have established that there are customers for your products or services, you then need to find out how much to charge. Consider the following:

What prices are being charged for similar products and services by your competitors.
Ask potential customers how much they would be willing to pay.
Could you charge different prices to different customers based on levels of service or quality?
Could you offer discounted packages of products?
Try some either or questions with different customer types to find out what your product or service is actually worth.
Once you have decided on a pricing structure, ensure that your business idea is still viable.

The Competition

By finding out what your competitors are doing, you can challenge them on price and service.

Check out what people think of your competitors’ prices, levels of service and what could be improved by asking their current customers.
Research your competitors online, through trade associations, trade publications, market reports, local chamber of commerce and their advertising
Ask your competitors questions either by phoning them or email.

Product

If you are developing a product it is essential to find out what potential customers think of it.

Develop a prototype to test it.
Use focus groups to obtain a wide range of opinions.

Tips

Use questionnaires and surveys.
Surveys, questionnaires and focus groups can be carried out simply and cheaply using online platforms like Mailchimp, Survey Monkey and social media.
All answers should offer a score or opinion rather than a yes or no.
All questions should be clear and concise.
Be wary of questions that could be misinterpreted
Encourage both positive and negative responses
Ask a reasonable number of people to get a better perspective.
Do not try to lead people to a particular answer.
Be realistic and remember that people don’t always say what they feel.
Get qualitative data that involve thoughts and feelings
Get quantitative data that involve facts and figures that can be measured.

A Continual Process

Market research should be done continually. Once you become established in a market, your competitors will look to copy and improve on what you are doing to reclaim their lost market share. By regularly testing and researching your market, and adapting your products in light of any feedback, you should always stay one step ahead.

For more information…

For help with market research or generating leads call the marketing team at Local Pages on 0117 9231122 or email us at marketing@localpages.co.uk

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Time to Change

Change is constant

According to the ancient greek philosopher Heraclitus, “The only constant in life is change.”

And to misquote Shakespeare, “Some are born to change, some achieve change and some have change thrust upon them.”

Change in light of Covid

For most of us the Covid pandemic has meant massive changes forced upon our lives. Businesses faced with uncertainty are having to adapt to new ways of working that may involve employees working from home or restricting face-to-face contact. On a personal level we have had to change our behaviour and adapt to new challenges such as social distancing and homeschooling while learning new technical skills in order to work and socialise online.

Whether change is a voluntary process or forced upon us, it is always uncomfortable.

Adapting to change.

Below we look at the various steps in the change process. It’s worth noting that depending on the significance of the change, we can go through all seven steps in minutes or in years. At each stage we consider the emotions felt and ways in which we can make each phase a little easier.

The 7 steps of change

Step 1 – A sense of loss

Something has changed, it’s different and it’s put you in a spin.

You can feel: loss, out of control, fear, shock, overwhelmed, unsafe and paralysed.

It’s important at this stage not to ignore these feelings and to find some sense of control. This can be done by addressing your concerns and trying to regain some perspective by considering the most likely and worst case scenarios.

For managers of change: You should listen, empathise, offer support and give as much information as possible. If the change is likely to have a negative impact on people, do not try and sell it as a positive.

Step 2 – Feeling doubtful

Doubt and uncertainty can create defensive behaviours and, even though you may be aware that change is necessary, you may resist the change and try to obstruct the process.

You can feel: resentment, angry and righteous.

Despite feeling that the old way is the best way, it is important that you gather the facts to form an accurate picture of reality.

For managers of change: Be patient, continue to offer support and offer any extra information to allow the person to reach their own conclusions

Step 3 – Frustration

You now know what’s going on but are unsure of how to deal with it.

You can feel: anxious, uncomfortable, confused and lethargic.

The danger here is that if you don’t come to grips with the new reality you could end up back at stage one. It is therefore important to stay motivated by planning and taking the best steps forward.

For managers of change: Allow the expression of difficult emotions while giving stability in areas that can be controlled.

Step 4 – Acceptance

Your perception changes.

You can feel: more resourceful, energised and positive

There is light at the end of the tunnel and you start to feel more in control.

For managers of change: You coach, encourage and support people to complete their unfinished tasks and create goals to allow people to focus on their immediate future.

Step 5 – Test the future

You consider your options, make decisions and try out new plans to see what does and does not work.

You can feel: excited, optimistic and pessimistic

You will experience a wave of positivity when plans go well and feelings of despondency when new ideas fail. The important thing is that you keep on experimenting to see which solutions deliver the most success.

For managers of change: Create clear achievable objectives and encourage risk taking without the fear of failure.

Step 6 – Understanding

You come to accept the reality that change can be forced upon us by a wide range of circumstances and that they have to be dealt with and endured.

You can feel: confident, competent and productive.

You accept that life is a messy process and even though you may never reconcile or fully accept the changes, you are able to apply and implement what has to be done.

For managers of change: Encourage learning, celebrate success and provide the opportunity to reflect.

Step 7 – Integration

Instead of feeling different, the change now feels normal.

You can feel: satisfied, focused, more generous and resilient.

By reflecting on the past and present you are aware of the consequences and rewards of the change. By experiencing change and proving that you can be flexible during a time of uncertainty can lead to a sense of personal accomplishment and great satisfaction.

Thanks to changecycle.com and Anchor Success

Leave a commentBlog, Business Tips, Help & Advice, Small businesses

Time to Reclaim our High Streets

During the lockdown period, more and more of us have been discovering that long queues outside supermarkets can be avoided by shopping at smaller retailers on the high street. Butchers, bakers and greengrocers have all seen an increase in customers during the last three months. But what happens after ‘Lockdown?’ Will we all go back to buying from the big national chains or will we remain loyal to the retailers who continued to offer exceptional service when the going got tough?

At Local Pages, we believe it is time to reclaim our local High Streets and carry on spending locally. This is why:

10 Great Reasons for Shopping Locally

1 – Your money stays in the local community.

According to research by the Centre for Local Economic Strategies, for every £1 spent in local businesses 63p is invested back into the local economy, where only 5p is reinvested when money is spent shopping out of town or online. Research by American Express also found that house prices close to thriving town centres are likely to rise faster than similar houses in areas where there are few local shops.

2 – It’s quirky and fun

It’s much more fun searching around little streets full of quirky little independent stores than visiting the national chains that all sell a variation of the same thing. Small independent retailers know the local market and stock items that appeal to local people rather than the masses. This means they are more likely to take risks and stock a more diverse range of products; items that you may not be able to find anywhere else. Local shops also support local artists and designers, so you could end up buying something truly unique.

3 – It helps create local jobs

Last year it was reported that independent businesses accounted for 60% of employment and 52% of turnover in the UK. Independent businesses tend to pay more as a proportion in local taxes than their larger counterparts which means more local investment leading to more local services, more jobs and a better quality of life.

4 – It’s good for our health

Buying locally improves our well-being. By encouraging us out of our homes and places of work, we interact with others, breath fresh air, gain new experiences, give ourselves a sense of purpose and see life from a different perspective. Shopping locally is also a valuable form of physical exercise. Walking to and from the shops combined with carrying our purchases increases our heart rate and muscular development. Research in America by the Cambridge Journal of Regions, Economy and Society, found that there were lower rates of mortality, obesity, and diabetes in areas where there was a high volume of thriving local businesses .

5 – It’s the ethical choice

Local butchers, greengrocers and other suppliers of fresh produce often supply a high percentage of food that is produced locally. Not only does this reduce the amount of fuel required to get the food from the farm to your table, but it also decreases the amount of plastic packaging necessary to transport food over large distances. As well as being fresher, locally produced food is also often tastier and contains more nutrients and less preservatives.

6 – It encourages entrepreneurs

By shopping locally you are encouraging the success of local businesses. This inspires other entrepreneurial types with a passion for growth and local communities to do the same. As new businesses are created they look to fulfill the continually changing needs of consumers. This leads to an increase in innovation and a constant turnover of new products and services.

7 – It helps build communities

Many high street stores including bookshops, cafes and craft shops host events to entice customers into their premises. If the businesses are not supported, the local groups that use them tend to disappear too.

8 – Great for advice

Local shops know their products inside out and want to share that knowledge by helping you whenever they can. Not only can they advise on how something is made or used, but they can make other recommendations based on your needs and budget. It’s a more personalised shopping experience than can be offered by a national chain with the emphasis on helping you buy, rather than selling you something you don’t need or ignoring you altogether.

9 – Great for Price

Most local shops are just as competitive as large retailers with the added advantage that you can normally haggle on price; something you cannot do online or in a chain store. Many local retailers also offer loyalty schemes offering extra discounts and free merchandise to those that shop with them regularly.

10 – Try before you buy

It sounds obvious, but by trying clothes on in a store you can see how they fit and feel before you buy them. When buying furniture you can check how comfortable the sofa is or inspect the quality of the materials and construction. Looking at pictures online can never take the place of the tactile experience. What’s more, in most cases you can take away your purchases there and then for instant gratification without the added worry of possibly having to organise returns, exchanges or asking for your money back.

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A Really BIG Thank You

Local Pages Goes from Strength to Strength

We would like to take this opportunity to thank all our clients who have advertised in our 24 Little Blue Books over the last 12 months along with the people that use and rely on them to find products and services within their locality.

The Local Pages financial year has just ended and we can report that we have had our most successful year in our 41 years of trading. Remarkably, despite the lockdown, revenues this April were our biggest ever as forward thinking businesses looked to ensure a steady flow of leads once the current restrictions are lifted.

The increase in revenue has allowed us to expand our team by 30% and create a number of initiatives to help improve the lead generating services we offer our clients.

We have increased the number of directories delivered by Royal Mail to the local communities we serve by 8% (Around 40,000 extra households)
We have created a marketing team to raise the profile of our Little Blue Books and online search facilities to drive even more leads
We have expanded our digital services team to provide more low cost websites and online lead generation to businesses targeting their local communities.

Despite the current business difficulties, we remain confident and optimistic about the future and believe that local economies will be rebuilt by independent businesses fulfilling the needs of the local communities they serve.

At Local Pages it is our objective to support those businesses and communities in whatever we can.

Local Pages – Local leads for local businesses

Invest in Your Business Now for Future Success.

To succeed in the future… you have to act NOW!

Like many of the businesses that advertise in our Little Blue Book and online directory, Local Pages is a small family business. During this time of economic uncertainty we have been looking to learn lessons from the past to shape and determine our future. This is what we have learned:

It will be those that continue to market their businesses who will reap the benefits later.
Business goes where it is invited.
If you don’t advertise and engage with your customers, you will be forgotten.
If you don’t advertise and engage with your customers, they will assume you have gone out of business
If you don’t engage with your customers, your competitors will.
Marketing = leads = sales = food on the table
Control the things you can control and adapt to the things you cannot change.
The way things have been done in the past are not the ways that things will be done in the future.
We need imagine future working practices and alter the way we work to meet them.

Therefore, at Local Pages we are embracing this period of uncertainty by increasing our marketing activity and adapting our working practises in order to better support our customers, staff and suppliers.

Our business has grown in the past few years due to us keeping our promises and generating low-cost, affordable leads for our customers through our online and printed media. By continuing to invest in our marketing now, we are determined to build on that past success and come through this economic downturn stronger than ever.

We encourage all businesses to do the same. Which brings us to…

10 reasons why you should invest in our Little Blue Book

1 – The current situation will not last forever and when it does end our little blue books will be in even greater demand as people look to buy goods and services from local people they know and trust.

2 – By booking now you are investing in the long term as each book generates leads for 12 months.

3 – One of the reasons the Little Blue Books are so successful is that we can prove they work by offering all our customers unique, trackable phone numbers.

4 – Local Pages is one of the cheapest and most cost effective advertising media available as it generates high quality leads from less than £3 per week.

5 – Every booking during the current lockdown (minimum 30th June, 2020 comes with a free enhanced listing on www.localpages.co.uk where over 200 people each day search for businesses like yours.

6 – Where possible we are offering a range of flexible payment terms allowing you to spread the cost and protect your cash flow.

7 – Free graphic design to create eye catching adverts that engage and entice new prospects.

8 – People like to buy from local people. Your advert will be seen by people local to you who want your products and services with very little wastage.

9 – Every customer is offered a free digital consultation to ensure their online activity is optimised to generate leads..

10 – For over 40 years Local Pages has been a tried and trusted source of leads for local businesses. Due to public demand, we are printing and distributing more Local Pages directories than ever before and promoting their use through increased marketing and highly targeted advertising campaigns. This means your business gets even more awareness for every £1 invested.

For more details email info@localpages.co.uk or call 0117 923 1122

Leave a commentAdvertising, Blog, Business Tips, Help & Advice, Marketing, Small businesses

20 Top Tips for Creating Engaging & Informative Content

Everyone in business knows that we should be engaging with our customers on a daily basis with rich, informative content. It sounds great until you actually sit down, switch on your computer… and then stare at it for an hour because you don’t know where to start.

So to help get your creative juices going, here are our top 20 ways of engaging with your customers online.

1 – Infographics – Create some visual representations of ideas and information found on your website. Infographics are so much more interesting (and often more informative) than large passages of text.

2 – Memes – Those little videos and images with witty comments are often the messages that go viral.

3 – Videos – Create videos (short & sweet) giving information regarding your products and services. Don’t worry about how you sound or look like, non-professionally produced videos appear much more authentic.

4 – Product Reviews – Got a new product? Put together a product review to allow customers an insight into what you really think.

5 – User Generated Content – Get customers to produce content for you. Share stories and content from third party websites you find interesting or promote good practice.

6 – How to Guides – Put together a range of helpful guides aimed at people that use your products and services.

7 – Lists – People love lists and they improve talkability. Even a list like this one!

8 – Photo Galleries – A picture paints a thousand words. Create galleries of products and theme them to make them more interesting.

9 – Case Studies – Use these to show the breadth and depth of what you have to offer your customers and underline how great you are. Make sure they’re up-to-date and are heavy on pictures and light on text.

10 – Client Testimonials – Testimonials build trust and loyalty. So when a customer says what you did was great, ask for it in writing. Better still, ask if you can film them saying it.

11 – Newsletters – Keep in touch with your email subscribers with a monthly update featuring new products and the highlights of any articles, blogs, videos and social media posts you’ve put out that month.

12 – GIFS – Use clips from videos embedded with text to demonstrate a point.

13 – Events – Create online events like Zoom webinars to engage with your customers , record them and share with others that couldn’t attend.

14 – Images – Use, wherever possible, original images to demonstrate and reinforce written messages.

15 – Podcasts – To convey ideas that don’t necessarily require visuals, put together some podcasts on various themes that may interest your customers.

16 – Slideshares – Get innovative with Powerpoint or Keynote and create decks of slides to inform and engage with your customers and share them online.

17 – Blog Posts – If no one was interested in opinions, they wouldn’t buy newspapers. Get your thoughts down in order and publish them. Try to ensure they are not time sensitive and can be read anytime.

18 – Newsjacking – Take a news story and use it to create content that will attract positive exposure for your brand.

19 – Press Releases – Directly target the media with industry news that may be of interest to their readers.

20 – Polls – Create polls to get your customers voting and seek out their preferences and their dislikes.

If you need help with any of the above, contact the Local Pages team on 0117 923 1122 or drop us a line at info@localpages.co.uk

Leave a commentBlog, Branding, Creative, Design, Help & Advice, Marketing, Small businesses, Social media, Websites

Working From Home

Working from home is not as easy as it seems. Not only are there a host of distractions, but there is your mental and physical health to consider. By not travelling to work every day, it is easy to overlook the physical benefits of getting to there and the social benefits of interacting with colleagues.

So to help you keep productive and sane, here are the Local Pages’ tips for successfully working from home.

Leave a commentBlog, Help & Advice, Local Pages Newsadvice, home wo, local business, marketing, work environment

Local Pages – Helping Local Business

The Coronavirus has had a massive impact on local businesses throughout the country and the consequences have been especially felt by SMEs and the self-employed in the areas we serve. As a small family business employing 18 people, we recognise the current challenges faced by many of our loyal customers and wish to support you in whatever way we can.

We don’t know when the current situation will end, but we must all remain positive and be ready to take advantage of the opportunities that will arise once the lockdown is lifted. The truth is, people still want your products and services even if you can’t currently supply them. This means that once the restrictions are over, demand for your products and services will be even higher.

For this reason, we are putting the following initiatives into place to help your business in the short term while generating enquiries for the future:

Extended Payment Terms

Where possible we will offer extended payment terms to help with cash-flow while your business is temporarily on hold.

Deferred Payment Terms

Normally we would expect payment with your order. However, due to the current circumstances and the pressures that some of our customers are experiencing due to cash flow, where possible we will defer payment from the time of booking your order until the Little Blue Book goes to print.

Free Digital Consultation A no-obligation review of your online presence with suggestions regarding how you use your website and social media channels to grow your business in the future.

Call the team on 0117 9321122 to book an appointment.

Increased Promotion of our Little Blue Book

We are increasing the amount of promotional activity aimed at users. We strongly believe that people buy from people they know and trust. That is the reason we publish our Little Blue Book.

For over 40 years, people have trusted the information within it and the businesses it recommends.

Increased Promotion of www.localpages.co.uk

We are increasing our online promotional activity which will greatly benefit our online advertisers especially those with enhanced and premium listings. With the cost of Google and Facebook advertising rocketing at the moment, our online search directory offers an even better return on investment.

The current situation is not going to last forever and it is important that all businesses prepare for when the restrictions are lifted. Local Pages is in a unique position to help. For those that wish to hit the ground running, our online search directory can generate leads at a fraction of the price of Google and Facebook. In the long term, our trusted Little Blue Books are still being updated and delivered to ensure your business details are at your potential customers’ fingertips as and when they are required.

Finally, we would like to take this opportunity to thank you for your continued support and the kind messages that we have received during the past couple of weeks. As mentioned earlier, we are a family business and we look upon all our customers as members of our extended family, without whom we wouldn’t be able to continue serving your community. Stay safe and if we can be of any further assistance please let me know.

With my best regards

Dan Bernard

Managing Director
Click here for the latest government advice on Coronavirus.

Click here for the latest government advice for employers and businesses

Click here for details of the Coronavirus Business Interruption Scheme

Click here for details regarding the Small Business Grant Fund

Happy to help.

Get in touch with one of the Local Pages Team today:
0117 932 1122

Leave a commentBlog, Help & Advice, Local Pages News

Referrals Mean Rewards

At Local Pages we are proud of the fact that we continue to grow by building on the lead generating success of our Little Blue Books.

To ensure our Little Blue Book’s continued success, the information contained within it needs to be accurate, continually updated and relevant to the 1000s of users that trust and rely on its content and the local businesses it recommends.

To help keep the Little Blue Book relevant, we ask all our customers to refer other businesses to us that may benefit from generating more leads.

Our referral scheme

Let us know of any business not currently in the Little Blue Book.
If the referred business advertises in the Little Blue Book, we will reward the referrer.
Depending on the level of spend, rewards range from a bottle of wine to a £50 high street voucher.
There is no limit to the number of referrals or rewards
Referrals can be made at any time.

By supporting us with referrals you increase the book’s relevance which in turn creates more leads and business opportunities for all.

To make a referral, please send details to info@localpages.co or call 0117 9231122

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Working with us is a hoot! Join Local Pages today.

Interested in joining the owl house here in Bristol? Looking for a new opportunity and think you’d be a great fit for Local Pages?

We are currently hiring for three positions. Follow the links below for full information: