How Market Research Is Done To Build A Successful Coaching Business

If you want to make an offer your followers can’t refuse, you must know what they want and need.

In this blog I am breaking down my 5- step process to an effective market research that will help you do just that.

When you’re done reading this blog you will have key steps you can take to perform a stellar market research. I also created a special workbook you can download here with examples of emails, social media posts, and a bonus section on a secondary research… more on that in a bit.

An effective market research will help you course correct, price appropriately and have killer messaging. You will literally have the words right from your ideal client’s mouth, helping you create a marketing campaign that emotionally connects to your ideal client, making them happy to pull out their credit card and become your next best success story.

I have discovered and used 5 strategic steps when preparing and performing my market research, which have allowed me to confidently create products that attract and sell to my perfect client.

And today I want to share them with you. Let’s dive in!

Step #1 Consistency…

You want to be consistent with your email list, emailing the same amount each week.

If you haven’t been in my inbox for some time and then you hop on in, asking me to give you my time, I’m not going to be so willing.

Versus someone who’s coming into my email box on a weekly basis, giving me excellent value showing up consistently, well, if you ask me, I’d be more than happy to give you 15 minutes of my time, so be consistent first and then ask.

The same holds true on social media, especially in Facebook groups.

You don’t want to just pop in and create a post asking people for their time and yet you’ve never engaged, comment or shared value of your own.

Reaching out to your email list or posting on social media out of the blue will create a negative impact on your market research results.

It will lead to little to no responses or worse, leave you at risk of speaking to the wrong people.

Consistency will allow you to show up with your brand essence and messaging that appeals to your ideal client over and over again.

I think you and I both know that the more we show up consistently with consistent messaging, the more we have the chance of attracting and retaining our ideal client.

Step #2 Clear Messaging

You do not want to just invite anyone to a market research.

When doing a market research, we want the right people, the perfect people.

Therefore, it’s really important when you craft a message, you must define several key ingredients.

  1. Number one, what exactly are you asking for? Depending on your niche, not everyone will understand what market research is. You want to be clear on what this request or call to action actually even means.
  2. Number two, who are you? And who are you looking to speak with? This will help establish your credibility and it will also help to make that deeper connection of, “Oh, that’s me!” type of feeling with your messaging and your ideal client.

Being very specific with who you want to speak to may look something like this.

“I’m looking for the coach who’s been in business for 0-1 years, is lacking systems and strategies but full of ideas, just not sure what to do next.”

Naming what they do, how long they’ve done it, what their biggest pain point or struggle is, really helps decipher who’s the actual ideal client and it creates that perk up in the messaging to pluck them out and sign them up for your next market research call.

I can’t stress how critical this is to make sure that your market research is an effective one.

You never ever want to post, “Hey, I need some help. I got this new offer here. Can anybody help me?”

That’s a big no.

Use clear messaging to attract the right people, the perfect people as we’ve been saying, so that you can ensure you have an effective market research, that in the end will help you create an offer that meets the demands and wants of your target market.

3. Number three, make sure you answer the question, well, what’s in it for me?

You’ll want to establish a thank you offer for those who take part in your market research.

In your research post or email, you’ll want to say, “For anyone who takes part in this market research, I have a special thank you for you.”

It could be a free strategy call and I would definitely give that a unique and sexy name. It may be a free offer or a special masterclass… but know this, time is the greatest gift that we can give and to show your appreciation for the time they will be giving you, you want to reciprocate and give them some of your time and expertise.

A strategy call or a free coaching call or a masterclass is one of the best ways you can thank someone for helping you do an effective and solid market research.

Step #3 Be Responsive…

When you post on social, I highly suggest you don’t just post and run. Hang around, sometimes in the first 15 minutes of a post you get the most traction, so you want to be available for people commenting and private messaging you on Facebook.

The faster you respond and engage, the sooner you will book those calls.

SIDE NOTE: For my business coaches, I suggest when someone reaches out or responds to your email or post, don’t get so lovey dovey right off the bat.

You’ll want to do some investigating of your own and check out:

  • Their Facebook pages
  • Their websites

It’s important to ensure they’re actually your ideal client.

Of course, if you’re a health coach or a mindset coach, this isn’t as important, but if you’re a business coach, this is vital.

Step #4 Prepare For The Interview…

You’ll want a clear understanding of your offer, especially the transformations and the benefits. Here are just a few questions that you can consider in your market research:

  1. Number one, is this product wanted or need it?
  2. Number two, what would be a good length for the deliverables of this product? Is it eight weeks? Is it six months? Is it one year? What would they most like? Or what would be most appealing to them?
  3. Number three, what would they pay for something like this?
  4. Number four, what do they love most about this offer?
  5. And one of the most important questions that you can actually ask multiple times is, why is that important to them?

The end goal of your market research is not only to meet the needs and demands of your ideal client, but ensure you are speaking her language.

Asking that one simple question over and over until they name their big emotional why will revolutionize your marketing. This will help make your next sales page a converting machine.

This is also why step five is so important…

Step #5 Listening Skills…

The way you listen on a market research will either make or break your results.

Listening and holding space will allow you to ask excellent follow up questions about them that in turn will help you create an offer they will feel emotionally compelled to buy.

If you’ve never done a market research, I highly encourage you to consider doing one, especially if you’re looking to increase sales and perfect your messaging.

You may think you have a perfect offer and you know what… you just might. But why not make sure that you actually do.

Performing an effective market research will actually do just that, all while giving you the confidence to meet the needs and demands of your ideal client. And isn’t that always our goal?

If you want the step by steps of performing an effective market research, I have you covered. I’ve outlined all the steps to my 5-Step Process and I’ve added a bonus section on secondary market research as well.

Primary research is with your ideal clients, secondary research is peer to peer.

And why a secondary research important? This will help you craft an even more amazing UVP, unique value proposition.

You can download the market research workbook below where I walk you through each step that I just explained and also the bonus section of the secondary market research. I’ve also added specific examples of posts and emails so you can get a look at what that actually looks like.

As always, let me know what you think in the comments below OR feel free to email me, I also love to hear from you!

Big Love,

Mare, xo

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