Step 4: Market Research
Posted: Sun Dec 22, 2024 8:42 am
After validating the idea and learning the specifics of opening an online business, there is a natural desire to continue working. But there is no need to rush. To organize an Internet project and successful sales, you should know all the nuances of the competitive struggle and ensure a better understanding of customer requests compared to your opponents. To do this, you need to conduct a detailed study of the market and determine the buying audience.
Inexperienced businessmen often taiwan whatsapp plan comprehensive projects that everyone needs: for example, Google, WhatsApp, etc. For a startup, the desire to create something global often leads to failure. An attempt to implement a universal system does not allow emphasizing the company's image, positioning the brand and showing potential buyers the advantages of the offered service or product.
By the way, when developing Google, they started with the idea of targeting a strictly defined user audience.
Before creating a website design, its logo and writing slogans, you need to know exactly who your product is being created for.
Market research
Market and target audience research is conducted to obtain answers to the following questions:
For which audience will your product be most valuable?
Whose life can your product improve?
What is the composition of the target audience?
What are the objectives and goals of the target audience?
What prevents her from achieving her goal?
Where did the problem you plan to solve come from?
What complexes and experiences does the target audience have?
What is the attitude of these people towards life, what are their priorities, values, principles and prejudices?
To do this, you need to create guidelines in your marketing strategy. You need to create a customer portrait that characterizes the target audience representative in detail.
The product as a whole and all its components, the content posted on the Internet, must be created to meet the needs of your target audience.
Knowing the specifics of the target audience and a high-quality customer profile will ensure the correct sequence of your actions. Using a customer profile, you can always predict the customer's attitude to your product and receive feedback on a positive or negative attitude, on the need to make changes to the product, on the assessment of the level of significance and complexity of the proposed changes.
It will be difficult for your startup to exist without understanding your target audience. It will also take a lot of time and money to achieve product-market fit.
When starting an online business, you need to understand the needs of potential customers. For quick and inexpensive market research, you can use the following options:
Online services: Similar Web, Google Trends, Keyword Planner.
Spying on competitors: Ubersuggest.
Reviews on Amazon, discussions on Reddit.
Surveys and promotion using advertising.
Personal meetings with the target audience and communication with potential investors.
Inexperienced businessmen often taiwan whatsapp plan comprehensive projects that everyone needs: for example, Google, WhatsApp, etc. For a startup, the desire to create something global often leads to failure. An attempt to implement a universal system does not allow emphasizing the company's image, positioning the brand and showing potential buyers the advantages of the offered service or product.
By the way, when developing Google, they started with the idea of targeting a strictly defined user audience.
Before creating a website design, its logo and writing slogans, you need to know exactly who your product is being created for.
Market research
Market and target audience research is conducted to obtain answers to the following questions:
For which audience will your product be most valuable?
Whose life can your product improve?
What is the composition of the target audience?
What are the objectives and goals of the target audience?
What prevents her from achieving her goal?
Where did the problem you plan to solve come from?
What complexes and experiences does the target audience have?
What is the attitude of these people towards life, what are their priorities, values, principles and prejudices?
To do this, you need to create guidelines in your marketing strategy. You need to create a customer portrait that characterizes the target audience representative in detail.
The product as a whole and all its components, the content posted on the Internet, must be created to meet the needs of your target audience.
Knowing the specifics of the target audience and a high-quality customer profile will ensure the correct sequence of your actions. Using a customer profile, you can always predict the customer's attitude to your product and receive feedback on a positive or negative attitude, on the need to make changes to the product, on the assessment of the level of significance and complexity of the proposed changes.
It will be difficult for your startup to exist without understanding your target audience. It will also take a lot of time and money to achieve product-market fit.
When starting an online business, you need to understand the needs of potential customers. For quick and inexpensive market research, you can use the following options:
Online services: Similar Web, Google Trends, Keyword Planner.
Spying on competitors: Ubersuggest.
Reviews on Amazon, discussions on Reddit.
Surveys and promotion using advertising.
Personal meetings with the target audience and communication with potential investors.