Here are a few thoughts on how to do market research for a new business with a simple market research process called a “Seed Launch”.
When it comes to market research the best tip I can give you is to stop analyzing markets from your ivory tower. Forget about stats, data and questionnaires for a moment and consider something new.
I’ve personally found that the best market research is spending time with your ideal clients until you know them backwards. You have to think like them. Nothing replaces real human interaction.
Luckily with the help of the internet it’s never been easier to perform this type of interactive, infield market research: Engage with your ideal clients on social media and create your own community.
This can easily be done using Twitter’s search function.
You can simply search for people who are talking about certain topics on Twitter. Then jump into the conversation and get to know them. It’s pretty simple.
Or if you’re on Facebook, then look at popular groups related to your niche and start networking and making friends. As a next step you can even create your own Facebook group and engage with people in there.
The fastest way to do market research is to talk directly to people. Look at the questions people post and engage and interact. You have to be curious about what people are interested in.
Leave your ivory tower and get your elbows muddy. Don’t think. Act
The more time you spend with your prospects and ideal clients in the “field”, the more cues and signals and information you’ll pick up consciously and unconsciously about your desired market. Try to understand the world from their perspective. Try to get into their minds.
You have to put in the time, but it’s worth it.
I hope this helps. 😉
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