Speaker 1: In this video I'm going to talk about the best way to conduct market research as a coach, consultant or expert. If you're new to this channel make sure you subscribe and hit that bell icon so you're notified whenever I go live with a new video. And that being said let's talk about doing market research and how to do it more efficiently. So the other day one of our clients wanted to gain some more clarity in terms of what his offer should look like and what his specific audience should look like as well. And he sent out a survey to his email list to try and get more information about this. And this is something I see happening a lot. Actually another client was doing some more analytical research about his niche using Google and using data he could find on the internet to try and figure out what niche he should enter. And this is like the traditional way most people think of market research. It's looking at data and doing surveys and then kind of reading that data and drawing conclusions from that. But that's a very inefficient or ineffective way to do market research. Here's why. What people will tell you in surveys is not always aligned with how people actually act. So what people do and what people say are often two completely different things. So someone might say something in a survey that they would buy something at a certain price or that they're interested in a certain product and not others. But then their buying behavior is completely different. They're going to buy something at a higher price point. They're actually not going to buy the thing that they said they would be interested in. And you can't really take people's word or survey results as having a lot of truth to those results. Because you aren't really getting to the bottom of the truth by using a survey. The same happens when you're trying to research stuff on the internet. If you're looking at numbers, if you kind of look at charts. If you use Google, you can find all these charts about different industries and you can use Google Trends. You can really get stuck in your head doing this type of analytical market research. And oftentimes what happens is you create a construct of reality that's very far away from what reality actually looks like. It's almost like you're sitting in your ivory tower and you're putting together all these concepts and ideas. And you're drawing all these conclusions, looking at numbers and data. But you're completely detached from the actual marketplace. So what you want to do instead, instead of doing this type of abstract analytical market research that some of us have probably learned in school. That that's the way of doing it, it's not very effective. Trust me, we've done it like that and we've done it the other way. And what's way more efficient is to just speak to the marketplace more than anyone else. So the people or businesses that speak most to the marketplace are the ones who have the best understanding of the marketplace. And who will be able to craft the best offers and have the best marketing and sales strategy in place. Here's why. When you actually get your elbows in the mud and you start interacting directly with the marketplace. How do you do that? Well, you can do that on social media. You can actually engage with people on social media. You can have conversations using the inbox on LinkedIn or on Facebook or on Instagram. And just by talking to as many people as possible, which you should be doing anyways as part of your organic marketing. You want to be building intimacy. You want to be speaking to the marketplace all the time. By doing that, you will find out what's actually really going on. You will figure out the real problems people have. The stuff that nobody's going to really write in a survey. The stuff that you can't actually capture with a survey. You will find out the subtleties of the market and how people really feel. What they're really looking to do. What they've tried. What has worked. What hasn't worked for them. Their fears. Their mindset issues. All these things, you can't find that in a chart. You can't get that from a survey. You have to actually speak to human beings on a human-to-human level. And that's when you discover these subtleties. And that's when you learn most about the market. So if you want to do market research, put yourself at the center of your market. Speak more to the marketplace than anyone else in your industry. And you will automatically end up having the deepest and most profound understanding of your market. You can also go further, right? Additionally to just having conversations on social media, via messenger, etc. You can also invite people to calls. Which you should be doing anyways. Especially if you're selling a high-ticket offer. You want to advance your conversations and have a call with people. A phone call or a Zoom conference or whatever. A Zoom call. And by doing that, you're actually speaking to people. And you can really get a good understanding of what people are struggling with. If people are interested in something or not. And that's where the real market research happens. So I understand my market extremely well. I know exactly the mistakes people make in our industry. I know the mindset challenges people have. I know the subtle ways how people self-sabotage their business. I know literally, you know, before someone actually opens his or her mouth. I already know what they're going to say pretty much. Why? Because I've spoken to so many people in the last years in my marketplace. That I have such a profound understanding of what's going on. That I can craft really good offers. And I'm very efficient at actually communicating to the marketplace. And it didn't come from sitting in an ivory tower. Looking at charts and sending out surveys. I never did that. I never send out surveys or do anything like that. Look at charts. Just all about speaking directly to the marketplace. So I hope you got some good value from this video. And if you would like to learn exactly how we do this. And how we help our clients implement an organic marketing strategy. That allows you to number one, market and sell your high ticket offers. Or your online courses. And at the same time conduct real-life market research. And fine-tune your offers. Fine-tune your messaging. And how you're communicating with your audience. So you really become, your messaging becomes crystal clear. And laser focused on what you should actually be talking about. If you would like to learn exactly how to do this. And actually become effective. And have the right offer for the right audience. Then head over to launchwithtill.com Or click on the link in this video or under the video. And I'm happy to help you figure out. If this process that we use in our business and with our clients. Can also work for you. Specifically if you need some clarity about who your audience is. What your offer is going to be. If you want to dial in these foundations. And you aren't completely sure what direction to head in. Then this is going to be really valuable for you. Okay, so click on the link if that's you. And I'm happy to help you figure out how this process works. And how to implement this in your business as well. And to see if there's even an opportunity to implement this in your business or not. Okay, so thank you so much for watching this video. And take care, I'll see you soon.