Market Research? Or 🔥 💸 + How your offers can drive referrals & new business
I just read this post on LinkedIn that talked about a founder who burned $500k developing an app with $300k invested into features the market didn't actually want... 🤯 One of the reasons for this group, specifically the "Offers" category, is so you can post your offers, get feedback, and input from others in the group BEFORE investing money into ads, burning partnership bridges with a failed email blast, or burn yourself out trying to sell one thing when the market wants something else. Whatever stage you're at, I suggest you post your main offer, product, service, event, etc. in the Offers category and get feedback. Ask questions like: - What is the #1 reason you would buy? - What's the #1 reason you would NOT buy? - Are there any features that are fluff and should be removed? - Are features listed as facts or benefits? - What outcome would you expect from this offer? - What is missing from the offer that would make it a home run? There's a lot that goes into creating an offer, but there's only one thing that matters... Does it CONVERT? If not, get back to the drawing board, AFTER you do some market research. You can do this by: 1. Posting here 2. Sharing in other groups you're part of 3. Share on social media 4. Ask a friend/colleague/coach/mentor for input 5. Send an email blast with a survey (I've done this, and it's super insightful) What other suggestions do you have to get market research? NOTE: ChatGPT does NOT count for this unless you're selling to ChatGPT. Try to get it from your actual target market... Doing this will not only help increase conversions, but it'll give you clarity around how to build it, what people's hot buttons are, and how to communicate those to existing/new referral partners to drive more referrals with ease. Here's the LinkedIn article if you want to read the full thing: https://www.linkedin.com/posts/justinmckelvey_saas-productdevelopment-founder-activity-7425192067548663808-hu44