Market research ideas

18 replies
I saw a marketer the other day saying that you should ask more than 30 people to make your research statistically relevant, and that makes sense.

But what are other ways to know what people are looking for in my market? The features they would be looking for.

I have recently started a business and I have selected the top end market, so I'm welcoming ideas.
#ideas #market #research
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  • Profile picture of the author savidge4
    Originally Posted by Alison Letts View Post

    I saw a marketer the other day saying that you should ask more than 30 people to make your research statistically relevant, and that makes sense.

    But what are other ways to know what people are looking for in my market? The features they would be looking for.

    I have recently started a business and I have selected the top end market, so I'm welcoming ideas.
    A bit of a catch 22 here.. you " Selected " the top end market.. but are you qualified to provide for that market space? the answer is kinda in the question at hand... You should kind of already know the answer to your question if you are intending to gun after the big dogs.

    Dont be affraid to START with the smaller fish.. get a better idea if not an exact idea of the pain in the market space. Generally speaking the same pains are shared from the bottom of the food chain all the way to the top.

    Let YOUR experience in the market space, and or the service you are capable of providing choose WHO to target and go from there.
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    • Profile picture of the author Alison Letts
      Well, I have decided to go high-end, not necessarily big: I have one good photo booth now, check it out:

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      • Profile picture of the author savidge4
        Originally Posted by Alison Letts View Post

        Well, I have decided to go high-end, not necessarily big: I have one good photo booth now, check it out:

        unable to see image
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  • Profile picture of the author yukon
    Originally Posted by Alison Letts View Post

    But what are other ways to know what people are looking for in my market?

    What did your traffic say when you asked them what they wanted/needed?

    Life gets easier when you're personally involved in the niche.
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  • Profile picture of the author Alex Cohen
    Originally Posted by Alison Letts View Post

    I saw a marketer the other day saying that you should ask more than 30 people to make your research statistically relevant, and that makes sense.

    But what are other ways to know what people are looking for in my market? The features they would be looking for.

    I have recently started a business and I have selected the top end market, so I'm welcoming ideas.
    A good place to start is to study the advertising copy of your successful competitors.

    There is a wealth of useful information contained within.

    Alex
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  • Profile picture of the author jamesjennifer
    I think nowadays budget and cheap words are most popular in business. But Still user wants something new & special at budget rates in my Opinion. What are you thinking ?
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    • Profile picture of the author Alison Letts
      Being popular doesn't mean being profitable so I'm avoiding this path.
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  • Profile picture of the author animal44
    I'd say 30 people weren't statistically relevant and, more importantly, are unreliable.
    You need to research your market in far more detail.
    Back issues of consumer and trade magazines, Amazon reviews, competitor campaigns, reddit sub groups, forums, social media chatter... anything and everything.
    You really need to know your market intimately.

    Can't remember who it was, but they said describe a character in intimate detail from your favorite TV series. Then describe your customer. If you can't describe your customer at least as well, then you haven't completed your research :-)
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  • Profile picture of the author affmarketer101
    30 is just a minimum number to make the statistics make sense.
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  • Profile picture of the author JohnVianny
    Doing a Market Research through asking 30 people is pretty illogical.

    These are not representative of nothing.

    You should go in facebook insights and watch the statistics, thourhg fb business manager, also go in adwords and see searches of your keyword market, go to amazon and check, and also see if there are any ads of your potential competitors.

    If there are no competitors it would probably means that there is no money in this market.
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  • Profile picture of the author laurencewins
    Features isn't always the way to go. People want to know what BENEFITS they will get from something. The features are just how to get the benefits.
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  • Profile picture of the author savidge4
    So I saw the image... A photo box? still not sure what it is, and what it exactly does...

    I'm guessing a mobile photo booth? There are more than enough listings on the internet to get an idea of what they are targeting and " how" looking at my local listings for " photo booth rentals for weddings " it was uh hmm weak at best.. pretty sad actually. I am sure with a bit of searching you can find a site or 2 have gone beyond notepad for a html editor that has a decent appearance and some better than average targeting and advertising.

    I would get a web page up and running... ensure your site is local friendly IE Google my business listed etc. and from there I would look for local directories you may be able to post to, local reddit threads. ( wedding - family reunion - graduation etc ) Craigslist, and of course FaceBook.

    I would also find post it boards in your local area IE Walmart, coffee shops, gas stations, etc

    A bit more information on what it is you are exactly doing would help a bit here
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    • Profile picture of the author Alison Letts
      That is right Savidge4, it is a photo booth for parties. We are setting up the listings but I'm actually focusing now on party planners (to leverage their clients).

      I'm working on forums postings and social commenting at first, just to get the word out quickly and build some momentum.
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  • Profile picture of the author Ramutar
    Start off with your social media accounts. Look for forums where people would be looking for market research services, educate them about it. I think you can get a good start from here.

    All the best, IT Rate
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  • Profile picture of the author ryanbiddulph
    Reading top blogs in your niche to see both subject matter covered and the problems popping up in blog comments are 2 ways to get a pulse on your niche. If top bloggers cover these topics and readers are having in these areas you have some solid ideas to work from.
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  • Profile picture of the author JanetGriggs
    Advertising and marketing exploration is practically mandatory for any firm to move because of the changing dynamics of the enterprise atmosphere. In fact, lots of firms are carrying out market research, even though amassing and analyzing market advice by using their own testimonials. But a mindful market-research report may show far more regarding the industry afterward the report done in a haphazard way.
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