S1E1: What's wrong in the Market?

Ever wonder why some brands become everyone's go-to, while others seem to be in the 'maybe-one-day' zone? 🤔 The answer is simpler than you think: understanding customer pain points.

The Missing Puzzle Piece in Your Business Success!

Discovering what consumers need is like finding a treasure map. It guides you on where to invest your time, energy, and resources.

Now, let's be clear: customers don't really care about your product. Nope! They're more interested in finding solutions to their own quests. Solve problems, and you are a part of their success story. Now they become your promotors.

But how do you get to the heart of what customers are dealing with? How do you become the go-to problem solver? The magic phrase is customer research. It is a make-it-or-break-it for your business. I wonder why this isn't talked about extensively. It's not just a project; it's your golden key! 🔑

Starting on the Journey for Consumer Insights

Okay, it's time to navigate through the adventure of customer research. We can approach this in 2 ways:

• Break-your-bank, or
• save-your-coins

But first, for those who already have a customer base, congratulations, you’re sitting on a goldmine! Here's how to extract invaluable insights:

1. Email Surveys: Best form of direct feedback
2. Beta Programs: Like a backstage pass for your customers
3. Focus Groups: Great for qualitative analysis
4. A/B Testing: Classic trial-and-error approach

Now that out of the way, let’s talk about the first-timers. The first key challenge is to find people for our research. So, services that already provide a diverse set of users will be crucial. Next, we need to find reliable and vetted providers. Below are a few:

1. Survey Monkey: Simple and straightforward. Quantitative Surveys
2. User Testing: More nuanced, offering a deeper dive into customer feedback. Qualitative Surveys
3. Maze: A balanced approach. Offers both. And is less harsh on pockets.

These platforms will charge you a little more, but they have what we want: Audience and Experience. They have made a name for themselves with their quality and time in the industry.

But understandably, first-timers are penny pinchers! So here’s a pocket-friendly list:

1. Poll the People: Offers pay per customer: $1. Perfect for creatives and strategists.
2. Beta Family: Good for the tech-savvy with app testing capabilities.

Now, The Game Changer!! 🌟

Social Media Listening: This strategy is pure gold. It involves tuning into online chatter, understanding real-time customer problems, and identifying gaps your competitors are leaving wide open.

1. Facebook groups - (still) Works like a charm
2. Blogs - Niche audience
3. Reddit/Twitter Threads - Ready to materialize audience
4. Reviews - Google/ Amazon - Accurate Feedback

This is still grunt work. We would go nuts to do this at scale. That's the only drawback. Now imagine an AI wizard doing all this heavy lifting, accurately and affordably, while you sleep. Insights in seconds!

Having these insights in your arsenal makes the journey ahead exciting and reliable! Remember, the strongest fortresses started with a single brick. It’s the solid foundation that paves the way for monumental success.

Have you started your Customer research? If you need any help, don't hesitate to reach out. I will help you out without any cost :)

Next up: You don't just want the map. Imagine you have a map in your hand, then what? Which direction are you supposed to go? Left, right, south, north? Let's figure out what should you do after you have a map in the upcoming blog :)

Housekeeping:

1. Keep an eye out for our series: ‘How to grow online.’
2. You've just unraveled the mysteries in ‘What’s wrong in the market’ - S1E1.
3. Next up: S1E2: ‘Who’s your Market?’ - Utilizing this research!
4. Want a weekly recap? Sign up for the Newsletter.
5. Drop by and say hi! on LinkedIn