Today,

We're going to talk about market research and more specifically about how to know the needs of your Customers to achieve a market research that is the most effective for your Business💰💸

Who better than Marie Forleo 👑💃, the pearl of the entrepreneurs of a 7-figure Business to inspire us the content of this week's topic!

With Sophie, we're going to introduce you to our human and 100% personal method to build a market research on which you'll be able to build a stable and profitable Business on the long term.

Maybe you think 👇 

💬 "Rolala, market researchsee, it already sounds so boring just pronouncing those syllables, I have neither the desire nor the ability to do all that stuff" 💬

As you'll see, we've got it covered! Everything you need to do your own market research like jaja is here on a plate, all you have to do is follow the process step by step and off you go, Simone!

And our friend, ChatGPT, is going to make our lives a lot easier by giving us some answers to study our market based on our method and Marie's essential tips for understanding your customers' desires and needs 🧐🕵️.

And that, of course, is for more success and peeps in your professional life 💪💰.

So grab a little ristretto, get comfy, and let's go kiki, we'll explain everything 🤓

So, you ready? Let's go, let's go!

Here is what we will see together

1. Who is Marie Forleo and what is her background?
2. What is market research and what are its characteristics?
3. Why do a market study? The 6 advantages of doing market research
4. What's in a market study? 3 tips from Marie Forleo to understand your customers' needs
5. The Happy.5 step guide to effective market research inspired by Marie Forleo?
6. 7 questions to ask yourself to understand your customers' needs
7. Our 5 tips for doing your market research
8. How can you use ChatGPT to facilitate your market research?

Don't feel like reading? (even though this article will only take you 16 minutes to read, watch in hand⌚)

Watch the YouTube video: Market Research for Dummies: 3 tips from Marie Forleo to know your customers' needs (& ChatGPT)

On the channel, we talk about business and good plans in a good mood! And if you're interested in the topics, don't forget to like and subscribe to the channel.

1. Who is Marie Forleo and what is her background?

1. Marie Forleo, she is THE boss of bosses, the queen of Business, the wonder woman of entrepreneurship 👑💪.
2. She started her journey as a personal development coach, before getting into Online Business in 2001, at a time when most people didn't even know what the internet was 🤯.
3. Over the years, she has built an empire with her website, YouTube channel, podcast, book "Everything is Figureoutable" and even a TV show 📺.
4. Today, it is followed by millions of people around the world and is considered a reference in online business 🌍.
5. But what makes Marie Forleo a true star is her infectious energy, her boundless creativity and her ability to inspire others to believe in themselves 💖✨.
6. She is living proof that anything is possible if you put your mind to it and never give up on your dreams 🌟.
7. And if you don't know her yet, you should watch her famous interview with Oprah Winfrey, where she shares her secrets to success in life and in business 🎥🍿
8. It is simply inspiring!

Here is where to find Marie Forleo:

1. Website: https: //www.marieforleo.com/
2. YouTube : https://www.youtube.com/@marieforleo
3. Instagram: https: //www.instagram.com/marieforleo/
4. Podcast: https: //www.marieforleo.com/podcast

2. What is market research and what are its characteristics?

Doing a market study is a bit like doing a police investigation, but in a business version

It's a series of careful research to understand your Clients, to know what they like and what they don't like, and especially to discover their most intimate and deepest needs 🧐🔍

To give you a concrete example, let's take the case of Starbucks ☕

1. Before it became the global coffee giant it is today, the brand started with a small store in Seattle
2. But rather than sit back and wait for customers to come to them, the founders of Starbucks decided to conduct market research to find out what people liked and disliked about coffee shops ☕️
3. Through this market research, they discovered that people liked the strong taste of Italian coffee and warm places where they could relax
4. So they decided to offer premium beverages and inviting spaces to set themselves apart from other cafes at the time 😍👌
5. And the rest, as they say, is "Storytelling".
6. Today, Starbucks is present all over the world and has become a true coffee icon.
7. All of this was achieved through a well-executed and accurate market research that helped to understand Customers' needs 💪💰.

So, if you want to succeed in business, never forget the importance of market research, who knows maybe you will be the next Starbucks!

The 3 characteristics of a well-done market study :

• Empathy

The market research is a method to understand the preferences of the Customers and their expectations
The importance is to put yourself in the shoes of your Ideal Customer to understand him
Understand what he is looking for, what he is missing and what will make him take action

• Curiosity

Market research involves collecting data through surveys, interviews, focus groups, observations or other research methods
Don't be afraid to reach out to others and speak directly to them
To find out exactly what they want

• Perseverance

Market research is a continuous process to stay up to date on customer preferences and market developments.
It is important to conduct regular market research to stay competitive
and adapt your offer to the market.

3. Why do a market study? The 6 advantages of doing market research

1. Advantage #1 💡: Speaking the same language

1. Create a product or service that meets the intimate needs of the customer
2. With market research, you understand what your customers really want, and you can adapt your Offer to meet their expectations
3. Sometimes, it can be the same offer, but more adapted to the demand of the Clients

2. Benefit #2 💰: Avoid unnecessary expenses.

1. Launching a product or service without market research is like playing Russian roulette.
2. It's double or nothing...
3. With market research, you limit the risk of failure and save time and money
4. For example, by not launching an Offer that is not what your market is looking for or communicating in the wrong terms during your Advertising Strategies

3. Benefit #3 🕵️‍♂️: Identify desires

1. Market research allows you to understand current trends and future changes in your market
2. In order for you to adapt and remain competitive, it is essential that you understand your customers' desires
3. By understanding your Clients' desires, you can adapt your Strategy and speak to them in their own words in terms of desire and not need
4. 99.9999% of people buy with emotion, hence the importance of targeting desires and using sales arguments that make people dream

4. Benefit #4 🎯: Target the right Customers.

1. With market research, you can identify the most profitable customer segments and focus on them
2. It will also allow you to target the Clients you want to work with and put in a drawer the other part you would rather forget
3. And to help you do that, we invite you to read our blog post: Defining your Ideal Customer in 2023: The simple 11-step method inspired by Donald Miller (with the help of ChatGPT)
4. As you will have understood, your market research will allow you to maximize your results

5. Benefit #5 📈: Developing Effective Strategies.

1. Market research helps you understand your customers' preferred communication channels, so you can develop an effective and relevant marketing strategy
2. For example, there is no point in developing Facebook if your Ideal Client is on YouTube

6. Benefit #6 🔮: Anticipate future needs.

1. Finally, market research allows you to understand the future needs and preferences of your customers, so that you can prepare to meet them in advance
2. Always be one step ahead and look beyond what is right under your nose

4. What's in a market study? Marie Forleo's 3 rules for understanding your customers' needs

1. Rule #1: A questionnaire

1. Ask the right questions 🤔
2. It's true, if you want to understand the needs of your clients, you have to know what questions to ask
3. And not just any kind!
4. Open-ended questions are needed, allowing clients to express themselves freely 🗣️

2. Rule #2: A Move to Action

1. Now we come to the part where you have to listen carefully to the answers 👂
2. It's easy to ask questions, but it's just as important to listen to what Clients have to say
3. Sometimes it's between the lines that the most valuable information is hidden 🔍

3. Rule n°3: Decryption

1. Finally, we come to the part where we will have to analyze the data to draw effective conclusions 📈
2. Once you've asked the right questions and listened to the answers, it's time to put the data into perspective
3. You have to find the trends, the commonalities, the differences, to understand what Customers really want 🤓📊

The 3 tips to define the needs of your customers:

• Study your market and understand your customers

Before launching your product or service, it is essential to understand your customers' needs and market trends

• Don't be afraid of failure

Business is a journey full of pitfalls, and it is almost certain that you will make mistakes along the way.
The important thing is to accept them as learning opportunities and keep moving forward
Remember that you cannot be loved by everyone but those who are important to you

• Surround yourself with the right people

In business, it is important to have mentors, advisors and trusted partners
Don't hesitate to ask for help and surround yourself with people who share your vision and values

5. The Happy.5 step guide to effective market research inspired by Marie Forleo?

1. Step #1 🎯: Define your goal.

1. Before you begin your market research, it is important to know what you are trying to accomplish
2. Do you want to know if your business idea is viable?
3. Or are you trying to understand your customers' preferences?
4. Define your goal clearly and precisely

2. Step #2 🤔 Ask the right questions.

1. As you have already heard, this is Marie Forleo's number one rule
2. You need to ask the right questions to understand your customers' needs
3. Put yourself in the shoes of your Ideal Client

Distinguishes 4 main categories:

1. "What do I want?"
2. "What do I need?"
3. "What do I want?"
4. "What's holding me back?"

Then write down all the questions that come to mind and arrange them by category, making sure that there are at least 5 questions per category

Avoid closed questions that do not allow clients to express themselves freely

Favors open-ended questions and encourages clients to give their opinions

3. Step 3 🎤: Do business interviews

1. To conduct effective market research, it is important to collect data in an organized manner
2. You can use surveys, interviews, focus groups or other research methods
3. The best way to create a contact is to combine business with pleasure by doing interviews with your Ideal Clients
4. You will easily find them on groups, blogs, communities, ...
5. Make sure that the interviewees are representative of your Ideal Client
6. You'll be surprised to see that they will probably be your future clients
7. During these little question and answer sessions with your Ideal Client, make sure to let him speak
8. Speaking time 80 (him) -20 (you)

4. Step 4 🔍: Analyze the data

1. Once you've collected the data, it's time to analyze it
2. Look for trends, commonalities, differences and the most valuable information
3. Marie Forleo recommends taking the time to analyze the data thoroughly to draw solid conclusions
4. What you have collected is a gold mine, it's up to you to take advantage of it

5. Step #5 💡: Create your Strategies

1. The final step is to make informed decisions based on the results of the market research
2. The data you have collected should help you make decisions with confidence and with knowledge of your Ideal Client's real needs and desires.
3. You can decide to modify your Offer or keep it as is

Based on this market research, you can refine :

1. Your positioning strategy
2. Your Communication Strategy
3. Your Social Networking Strategy
4. Your e-mailing strategy
5. Your Advertising Strategy
6. Your Retargeting Strategy

6. 7 questions to ask yourself to understand your customers' needs

• 👉 Question #1: What problems are your Clients looking to solve? 🤔

By asking this question, you will understand the real needs of your clients

• 👉 Question #2: What expectations are your Customers looking for? 💡

By asking this question, you will know the benefits that your customers expect from your product or service

• 👉 Question #3: How do your Customers make their buying decisions? 🤷

By asking this question, you will understand the factors that influence your customers' buying decisions

• 👉 Question #4: What are your Customers' preferred communication channels? 📱

By asking this question, you will know where to communicate effectively with your Clients

• 👉 Question #5: Who are your competitors from whom your future Customers might buy their Offerings rather than yours? 👥

By asking this question, you will know who your main competitors are and how you can differentiate yourself by offering a unique product

• 👉 Question #6: What are the current trends in your market? 🕵️‍♂️

By asking this question, you will understand the market trends and how you can adapt to them

• 👉 Question #7: What are the future needs of your Customers? 🔮

By asking this question, you will be able to project yourself into the future and anticipate the needs of your customers. This will allow you to make informed decisions to develop your business in the long term

7. Our 5 tips for doing your market research

• ✨ Tip #1: Be specific in your goals, the more specific they are, the more achievable they will be 🎯
• ✨ Tip #2: Sit down and take the time to develop a successful questionnaire to ask the right questions during your Business interviews 🤔
• ✨ Tip #3: Link the useful to the pleasant, consider Business interviews as real opportunities to sell without selling. Through the interview your potential future Customer will understand the offer you are selling and will most likely be interested if you have done your selection well beforehand.
• ✨ Tip #4: Take an interest in people during Business interviews, people like to talk about themselves so let them talk as long as they want because the information gathered is worth its weight in gold!
• ✨ Tip #5: Don't be afraid to ask to do Business interviews, the no, you already have it! Business interviews are great opportunities to build a Business entourage filled with opportunity.

8. How can you use ChatGPT to facilitate your market research data collection?

Here is a sample question to ask ChatGPT to help you do your market research:

Hello ChatGPT, Imagine you are a young introverted entrepreneur that you want to start a market research. How to use ChatGPT to facilitate your data research for your market research by following the steps in our method which are as follows:
Step 1: Define your goal 🎯
Step 2: Ask the right questions 🤔
Step 3: Collect the data 📊
Step 4: Analyze the data 🔍
Step 5: Make informed decisions 💡

To conclude,

You have just seen a simple and clear process to establish your own market research and thus define how to know the needs of your Customers to achieve the most effective market research for your Business💰💸

And our last Tips (the crispest 🍪) for today 👉 Be empathetic ❤️, to be successful in Business, it is essential to put yourself in the shoes of others and understand the needs and emotions of your Customers. Take the time to understand them and see life from another angle, their angle! This will allow you to better reach them by remaining human and sincere while respecting their value and their way of seeing life.

You now have all the keys to launch your market study thanks to our human and 100% personal method on which you will be able to build a stable and profitable business on the long term.

It's up to you!

Got an itchy question? Take a break in the community!
How? Join the Happy.webacademy's Happy community for free to propel your business into the stars with 100% crisp info and access a private library of ouffissimes resources 🤪

(And yes, you read that right! It's free)!

And finally, join our Youtube Video Premiere this Thursday

How to attend this Thursday's premiere?

Click here 👉 I'm accessing the Premiere of this Thursday

1. Fill in your first name and your email address to receive your invitation
2. Go to the private area to reserve your place
3. Woop, Woop, more surprises await you inside 🥳 🙌 !