Title: Understanding Your Customers

Hello,

One of the most important elements of market research, and
arguably the single most important, is really understanding
your customers.

If you don’t understand your average customer, you won’t be 
able to develop a product that perfectly fills your market’s
needs, and you won’t be able to target those people with
your advertising.

Perhaps the best way to uncover your potential market is to 
study your competitors reviews, social media accounts, etc.
This will help you figure out the type of person who 
typically buys their products, which will generally be the
same type of person who will buy yours.

Another way to find out about your customers is to use an
ad system like Facebook to target your competition with an 
ad. You don’t necessarily have to spend a lot of money on
ads to do this. Sometimes just targeting your competition
on Facebook (assuming they have a strong enough presence to
be included in Facebook’s targeting) can give you a good idea
of your target demographic.

You can also conduct surveys to find out what type of person
would be interested in your products. Surveys are a great
tool, because they can help you determine not only the 
specifics of what people want in  your product, but also
your basic demographics. Given a large enough sample size,
you could even uncover multiple demographics who each want 
a product with different features!

It can be tricky to find people to take a survey, but some 
of the best places to find people are in Facebook groups
and on forums in related niches. It’s a good idea to offer
some sort of incentive, such as a thank you prize to all
survey takers, or even just a contest for a specific prize
that you choose a winner from amongst all the people who
take the survey.

Surveys can also be very beneficial by allowing you to
collect the email addresses of people who might be 
interested in your product.

If you have the funds available, it can be very helpful
to hire a marketing firm to conduct research on your 
behalf. They have resources you may not have access to, 
and they can save you a great deal of time.

Tomorrow we’re going to take a look at how you can 
learn more about your competition, and combine that with
what you learned about your customers to create a killer
product and a killer marketing plan!


Until then, 

{YOUR NAME HERE}

PS- Without understanding your competition, you’ll never
know exactly what you should do to outsmart them, so you
don’t want to miss tomorrow’s lesson!


