3. Leveraging Simple Insights and Feedback

While larger businesses might have access to advanced market trend analysis tools, small businesses can still gather valuable insights through simpler methods. Customer surveys, post-purchase feedback, and direct interactions with clients can provide qualitative insights into the effectiveness of marketing efforts. For example, a local business can engage directly with customers through social media or email to solicit feedback on new products or promotions, allowing them to fine-tune their messaging and approach.

Additionally, tracking simple performance metrics like website visits, email open rates, and customer inquiries can help small businesses identify what resonates most with their NEO audience. Although these insights may not be as comprehensive as full-scale market analysis, they still provide a valuable basis for optimising budgets and strategies.