Welcome to The Rachel Kurzyp Show.
How do you know your offer will sell? Market research; that’s how.
So that’s what we will be talking about today on the show.
An opinion that’s become popular in the online business space recently is that market research is bad for business because it gives your power away. You end up serving only your clients, which makes absolutely no sense to me.
I’ve always been a huge advocate for market research, and I’ve openly shared that it’s played a huge role in the success of my offers and, therefore, my business.
I see market research as a two-way conversation. It allows me to gain a deeper insight into my dream clients and provides me with quantitative and qualitative data that I can use to inform my decisions and strategies.
The process also allows me to invite my community to be co-creators of my offers and help me deliver something that is going to serve them in the best way possible.
When we involve our clients in the creation process, they are more likely to buy or invest because they see value and trust in the process.
It’s still my job as a business owner to see the big picture and make the final decision, but I never assume that I know my clients and their businesses better than themselves. Which I think is happening when business owners say they don’t need to do it, among some other misinformed ideas.
But in reality, I don’t know any successful business owner or peer who isn’t doing market research.
And as you will know from Episode 85, one of the biggest mistakes I made when I created my first offer was copying with others in the market were doing and not speaking to a single dream client.
This is why my offer didn’t sell, and six months later, I had to start from scratch. And you guessed it, the first item on my to-do list was market research.
My coaching program The Creative Freedom Method (since retired), I launched next, sold out the first four times I launched it and made me well over $100,000 AUD in the 18 months I ran it.
Now you can hopefully see the benefit of conducting market research before you create your next or new money-generating offer; I want to share with you four ways you can conduct market research today.
Talk to your current clients
A good place to start is on your welcome or discovery call to ask your clients things like what made you decide to reach out and start working with me now? What are your big goals over the next few months? What has prevented you from achieving these goals on your own?
You can also ask similar questions when you send your client feedback form and ask for a testimonial. The answers will help you identify your clients’ current fear, challenges and aspirations.
Actively listen to your community
There is so much information on the internet these days. You just need to know where to look. Spend time reading questions people pose in Facebook groups you’re part of.
Read what content people in your industry are sharing on Instagram. Browse news headlines and flick through magazines. You’ll start to see trends and patterns that will guide you when it comes to identifying your dream client’s lifestyle, values, and beliefs.
Use social listening apps
Search different topics or ideas in apps like Answer the Public to see what questions your dream clients are asking so you better understand the types of content, services, products and resources they need to run their businesses.
You’ll also be able to see gaps in the market you can fill with your offers and get a clearer understanding of what your dream clients feel they want – which may be different to what you think they need.
Ask your community questions
You can create polls on Instagram, create surveys on Google forms and share them with your community. And you can have 1:1 interviews with members of your community.
Speaking with your community directly is a great way to understand why your clients buy and if they would buy the new offer you’re thinking of creating.
You can ask their opinions on things like: would you prefer a 12-week program or an 8-week one. Or do you prefer this course description or this description?
In all these instances, note the type of language or words used, tone of voice, body language and specific examples used. Capture all this information and use it in your content.
So not only will you be clear on how your dream client would like to work with you, but you’ll also have a greater insight into how they would like to receive and engage with the information about your offer.
So there you have it, four simple but effective ways you can gather the information you need to create your sell-out offer.
If there was one thing I wanted every business owner to know, it would be how to create an offer they can sell on repeat so they too can enjoy consistent cash, clients and opportunities.
This is why I created my new intensive Create a Unique, Money-Generating Offer which I’d love to tell you more about now.
If you’re an established and successful business owner working with incredible clients but want to diversify your income, provide support in different ways and have time to grow other areas of your business, this is the intensive for you.
You’ll learn how to simplify, streamline and build your sustainable offer suite so you can meet and hopefully exceed your income goals.
Everything I share can be applied and adapted to align with your business model and personal approach so you can use the process again and again.
After 90-minutes you’ll have your:
- Profitable idea that is going to help you reach your desired income
- An entire outline of your new offer so you know what you need to include
- Transformation statement so you can easily invite your dream clients to work with you
- A name and price that will have everyone excited and ready to buy
Everything you need to revamp a current offer or make a new one.
I’m running the live intensive on Friday, July 15, at 10 am Melbourne, Australia time.
Save your seat here, and let’s create your unique, money-generating offer together.
I can’t wait to support you in this way.
Thanks so much for tuning into today’s episode.
If you’ve found what I’ve shared valuable, please leave a review and hit the subscribe button so you don’t miss when a new episode drops every Wednesday.
Resources and Links:
Episode 85: The four mistakes I made when I created my first offer
Episode 84: Red flags when creating your offer
Save your seat: Create your Unique, Money-Generating Offer intensive
Book your call: Learn how we can work together in my 1:1 Coaching Program