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How to Conduct Market Research

March 17, 2022

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When you start an online service business or create a new offer, it’s easy to assume that everyone is going to want to buy it. You’ve probably spent a lot of time thinking about this offer, dreaming about it, planning it out, and trying to get everything perfect. I’m sure all you want to do is get out there and sell it.

There is nothing worse than selling a product or service that no one is willing to buy. So, the question becomes how can you create a product or service that people are dying to pay for?

The short answer is science. Okay, not really science, but a scientific process that’s going to allow you to make sure you are selling something people actually want.

That process is called market research. Market research is basically gathering information about your ideal client’s needs and preferences to make sure you are creating an offer that solves a problem for them. You can conduct it through researching on google, surveys, focus groups, phone calls and so much more.

Today, we’re going to focus on market research through phone calls.

The first thing you want to do is find people who are similar to your ideal client and ask them if they are willing to hop on a 15-minute call with you. During that call, you’ll want to ask them questions like:

  1. Where’s the gap between where they are and where they want to be?
  2. How do they feel about their current situation?
  3. What kind of solution do they wish existed?
  4. What would change if they didn’t have this problem any more?
  5. How much are they willing to pay to solve this problem

If you’re curious about any of their answers, feel free to keep asking questions and dig deeper. Your main goal is to learn enough information as possible. Not only does this help ensure you are creating offers that people actually want to buy, but it will also help you use your ideal client’s words in your marketing.

Want a complete guide to market research? Click here to grab my Market Research Swipe File. Inside you’ll get a script to ask people for market research calls, a step-by-step outline of how to run your market research call and a list of questions to ask based on the type of business you have. Grab your copy now!

P.S. Whenever you’re ready, here are 3 ways I can help you grow your online business:

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Hi, I'm Ashley!

Certified Life and Business Coach and
Co-Founder of Living Adventures Retreats


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