Ep 026: The Importance Of Market Research

Scaling With Deasha

In this episode, we talk about the importance of Market Research! Why is it that in the online space we forget about everything we were taught in any business class and think that it will be ok because there is no large investment or money behind it.

I dive into when to do market research, how to do it and what to do with the information.

If you want to find out more about Attract Dream Clients and how you can get your hands on the market research questions I use then head here: www.deashawaddup.com/attract-dream-clients

Here are the highlights:

{2:23} Why when we turn to the online space, and the online market do people suddenly stop offering this market research they just suddenly think that creating an online business is the easiest thing in the world.

{2:56} Market research is such an important tool to make sure that the market is ready for your offer.

{3:29} Market research is so valuable before you create any offer for anything in your business make sure that you have done the market research.

{3:58} You should be doing it at any point in your business.

{4:16} Every time in business you should be looking at your market research whether that is the language that people are language change people's opinions and views of the world change as we grow so make sure that you are constantly.

{5:03} This is market research done simplified and there are so many different ways to do it but you should be doing it consistently throughout your business.

{5:33} This is what I get asked a lot and inside of Attract Dream Clients which you can join as a self-study program you will get access to a whole bunch of different questions that you can ask and a systemized process to go out and do this market research.

{5:12} There are many many ways we can do it, the first is one of one way of offering this market research is getting on a video call.

{6:32} By getting on a call with somebody I can really build that bond that no love and trust factor.

{7:42} If you want to go and meet people in real life in person then absolutely go and hang out at your local coffee shop, Vince has done this and had amazing results.

{8:07} Another way of doing it is just sending out a form.

{8:37} Use a survey tool use a way of collecting that data through emails, through questions and you can connect with people that way there is absolutely no need for you to get wildly outside of your comfort zone.

{8:57} Another way to do market research is just listening.

{9:13} I do my market research is by just watching and listening to the words and the language that people are using when they are interacting with others.

{9:33} I will also make a note of the language that they're using so the language and tonality that they're using are going to impact the way that I would market to that person should I wish to sell them.

{11:29} I'm using the language that they use I am repeating it back to them so they feel heard.

{12:52} Whatever method of market research you have used you need to collate all that data.

{13:06} One of the most powerful ways that work for me is drawings. I have a stick man drawing that I absolutely love where I put the language that people are using.

{14:34} Every time you come to create content you are reminded about the market research they've conducted you were reminded about the language your ideal clients are using.

{14:56} So you can then structure your offer structure your content or structure your sales conversation around those keywords that you know are going to trigger that person into taking action and actually buying.

{15:16} Market research is super super powerful so make sure that this is something that you are exploring.

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