There are big companies that do nothing else then research markets. They research if people like the new packaging better than the old one, if the new perfume will sell well and if brand X tastes better than brand Y.
Some entrepreneurs feel like they need to do official market research too. That they need to know exactly who will like what, where and when.
But their budgets won’t reach that deep that they can hire official market research companies.
So it’s up to you to find out if your new product will be liked, who will love your new service or if the improved version of your website is better than the old one! And you are thinking “Oh gosh, how am I ever gonna figure this out?”
Don’t make it too hard!
How to do easy market research
What do you want to know? Who is it you need to ask?
If you know that, it really isn’t all that hard. If the product is physical or if it is a logo or website design, you can show people something. Now go out, find your target audience and ask them. If it is just question, you can still go out and ask them, or use a product like SurveyMonkey to ask them online.
Feel like you can’t do that?
I’ll tell you a story
When I was just starting out I was working for this company that promotes art and culture in Holland. Apparently we have the most museums on a few square kilometers of any country in Europe. Of course we wanted tourists to know about it!
My colleague and I wanted to figure out which of the logo’s would convey the message of the company best. So we went out into Amsterdam..Asking tourist where ever we’d go (mostly to the lobbies of museums):
- What does this logo mean to you?
- Which logo do you like best?
- Do you know other cities in the Netherlands?
- Do you know where in the Netherlands there are similar museums?
All those answers combined – Some of them were a bit shocking, like people who didn’t even know they were in Amsterdam! – gave us an amazing perspective on our target audience. What they knew, liked and which logo worked best for them.
So, want to know something? Just ask!