3 Super Easy Steps to doing Market Research for your Business

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 told you that they’re facing, you’ll be pumped about getting your first client. This confidence is key to making money online, and market research is the simplest way to get some! Here are the super simple steps I take to do market research for any new offer in my business.

1. Talk to 5-10 people in your target market

This can take as little as a week to do, if you get lasered focussed about getting the calls done! These conversations need only take 10-15 minutes and can be held over any social media call feature. The aim of these chats is to understand your target market's true pain points and their deep dreams in the area that you want to help with.

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. Commit to doing 5 calls next week and start booking them into your calendar!

2. Ask simple questions, and let THEM do the talking!

Now it's time to do the market research calls! So create 5-8 questions that you will give your most bang for their buck when it comes to your offer. Questions like 'what are you struggling most with, in regards to (what you want to help them with). Another question that is important is (what have you tried previously to solve this problem?).

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 their answers 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 repetitions you get from your target market's answers and stick to these pain points when creating your offer.

An offer which solves the problem that MANY of your target market has stated, is the surest way to make money online, because of the value it creates for your target market.

Take note of the specific language they use

Are you struggling to attract engagement for your offers? You might have a perfect understanding of your audience. However if you aren't using the specific wording that your audience uses to describe their problems, you might as well be offering the completely wrong solution.

This is because there is so much noise out there, and we humans struggle to filter through what is actually worth paying attention to. So give yourself and your offer the best chance it can in being seen by those whom it will help. You can do this by replacing your definition of the problem your offer solves with the exact wording your target market use.

This little trick will stop the perfect client from scrolling past your offer, and actually take notice and action towards working with you.

What to do next?

Are you overwhelmed with too many possibilities in your business? Did you know that I help my clients to monetize their passions and make money online?

If you are in a place where you adapt your services and products to different customers, or you are selling for too little, listen up! You will never reach a high enough level of income from your business unless you get SERIOUS about your premium offer.

This is an offer which can package your previous skills, experiences and talents to create a transformation for your clients. It will be the bread and butter for your business and is the fastest way to create a consistent salary online.

If I were to show you how you can make a magnetic offer that your audience can’t wait to buy, would you want to chat? Book a free clarity session today at the link.

Speak soon!

Written by Lucia Fryett  Instagram  |  Facebook Lucia is a Business Coach who helps female entrepreneurs create their magnetic, signature offer, so they can make more money online.

9 views0 comments