26/07/2020
“HOW SHOULD I DO MARKET RESEARCH?”
I get some form of this question a lot.
We can all put together an offer, that we think would be helpful for our target market.
But you will never have the confidence in selling an offer, like the confidence that comes from doing proper market research.
When you know that your offer is created to help your target market overcome a real problem they’ve said they’re facing, you’ll be pumped about getting your first client.
1. TALK TO 5-10 OF YOUR TARGET MARKET
This can take as little as a week to do, if you get lasered focussed about getting the calls done!
Posting to facebook groups to see who’d be up for chatting with you is a quick way to fill out the spots of your market research calls.
You can explain to these wonderful people taking the time to talk to you, that this isn’t a sales call, that you just want to genuinely understand their goals better.
2. ASK QUESTIONS, AND LET THEM DO THE TALKING!
When you’re nervous it can be easy to fill in the gaps and end up rambling on the phone.
But these market research calls are actually for you to gather data points!
So follow your questions that you ask every one of the people you’re speaking to, and let them fill in the gaps. The only talking you need to do is encourage them that their answers are helpful.
3. READ BETWEEN THE LINES AND WRITE THEM DOWN!
When I do market research calls, I can get so excited about that answers i’m hearing and the realisations I have from these new data points. So much so I can sometimes forget to write things down.
The thing that you want to pay attention to is the trends of your answers. Maybe you want to solve 1 pain point somebody said, but then you miss the pain point that 5 different people said.
So take note of the repetition you get from your target market and stick to these pain points when creating your offer.
An offer which solves the problem that LOTS of your target market has, is the surest way to make more money, because of the value it creates for them.
Any questions about this? Comment below :).