CCP 020: 4 Things To Look At When Researching Your Market
Does the thought of doing market research get you super excited?! If you answered “no,” you’re not alone. Market research isn’t the most enticing part of launching a product. In fact, it’s pretty dry. However! Market research is one of, if not the, most important aspects of a product launch. It’s not only the tool that will bring you the most potential for success, but it will also steer you away from wasting your money on crowdfunding ideas that have already been done and proven not to work.
In this episode, Nalin expounds on all the reasons market research should be on the top of your priority list by explaining her four core aspects of market research.
Keep scrolling for a further breakdown of the podcast and helpful links.
[2:05 ]: How Sun Tzu Relates to Marketing Research
“....If you know neither the enemy nor yourself, you will succumb in every battle...”
[3:57 ]: Competitors and Market Research
Market research gives you an inside scoop on your competitors and gives you the insight you need to know what they did right and learn from what they did wrong.
[6:57 ]: Why Nalin is Passionate About Market Research
Research gives you all the information you need to succeed by telling you what to do and what not to do.
[7:50 ]: #1: Market Trends
Looking at competitor's trends, market trends, seasonal trends, and more. Why all these things will lead you to your maximum potential.
[10:32 ]: #2: Positioning Yourself in the Market
This is how you label your product in the world and how your product sits in the mind of the backer.
[14:10 ]: #3: Pricing Your Product Adequately
Are you pricing in the right range for the product you’re offering?
[16:25 ]: #4: Marketing Visuals
Visuals make or break a campaign due to the trust and credibility they bring to a product and its founder.
Visit the Crush Crowdfunding Website: https://crushcrowdfunding.com/
Connect with Nalin: https://crushcrowdfunding.com/contact/