Hey, besties! Recently I took a poll on my IG stories, and you all basically screamed, “Help! We have no idea what market research is OR how to do it!” Which, I totally understand, and can’t wait to clarify for you. Let’s get right into it.
Market Research Matters (A LOT) 💸
First of all; if you don’t know WHO your audience is or what they want, how are you going to be able to effectively market to them? Exactly, you won’t. And if you can’t market to them, you won’t make any sales. MEANING, your business will never grow. So let’s break down exactly what you need to do when it comes to doing market research in your business.
1. Identify Your Audience’s Problems (And Then Slay Them Of Course)
Before you even think about what content to create, you need to ask yourself:
- What are they struggling with on a day to day basis?
- Because of these problems, what issues are coming up for them?
- What would they want & need to hear to be activated to make a change?
2. Stop Randomly Scrolling For Inspiration & Answers
So many people dive into market research like it’s a treasure hunt, hoping they’ll eventually come accross something that sticks. But without a clear plan & taking intentional action, you’ll just end up with a bunch of random info that doesn’t move the needle forward. So let’s focus on the specifics:
- What symptoms are showing up in their lives because of these problems? Remember, they might not even know what the root issue is—just that something is wrong. This can look like (but is not limited to):
- Not seeing sales
- Same follower count since 2020
- No referrals
- Constant fatigue
Remember, the symptoms are going to depend on your industry!
3. Speaking Their Language (Literally)
Let’s be real, no one likes feeling misunderstood, especially your audience. When you’re creating content, you need to speak their language. And by that, I mean using the exact words they’d use when venting about their problems. There is a great website called Hemingway Editor that allows you to simplify your writing. If you’re having problems making things more simple, this is going to be your new bestie (besides me, of course). Think of it like you’re having a spill-the-tea session with your bestie. You wouldn’t talk to them in business jargon, right? Keep it real, relatable, and 100% them.
4. TikTok = BFF For Market Research
Yes, you heard it here first. TikTok CAN be productive! It’s a goldmine for market research. The search feature on TikTok is basically a cheat code. Use it to see what questions people are asking, what’s trending, and what problems people are desperate to solve. Another way you can do market research on TikTok is check out what people are asking & saying in the comment section of people in similar industries as you. This does NOT mean that you go and copy people’s content. But this does give you insight into what your ideal audience is wanting & saying. Now take that information and turn it into content. (Bonus points if you use their same language 😉)
5. Understand Your Audience’s Buying Style (Yes, It Matters)
🚨SPOILER ALERT🚨 Different people buy for different reasons. Some are all about the results (hello my analytical buyers!), while others want to feel a connection or be part of a community (yes, I’m looking at you expressive buyers!). You need to figure out what makes your audience tick so you can create content that speaks directly to their buying style. More on that HERE. Grab your tea for this one ☕️.
6. Close The Gap
Finally, you need to get super clear on the gap between where your audience is and where they want to be. What goals do they have? After working with you, what do they want their life/business to look like? They might think they know what their problem is, but you’re going to show them the REAL problem they have & paint them a picture of what they CAN achieve because of you and your strategies.
Feel Like A Market Research Pro?
Honestly, market research is a lot of fun, especially when you know what you’re doing and what you’re looking for. And I’m going to give you one more bonus tip; do this WEEKLY. Especially if you’re just starting out.
And if you’re still feeling lost, don’t stress. Slide into my DMs, and let’s chat! Or check out my YouTube channel for more in-depth content.
