Blog Post

Four Reasons Why Market Research Is Important For Business Growth & Success

Not a fan of reading? Click the player below to listen to the blog post!
Not a fan of reading? Click the player below to listen to the blog post!
Not a fan of reading? Click the player below to listen to the blog post!
As a solopreneur myself, I get that it’s easy to dismiss the importance of market research. After all, when you first start out in business or think of an idea for a new programme or service, the last thing you want to do is to spend hours carrying out market research. You just want to get to the good stuff, right?! You want to start working on designing your new branding, creating your new programme resources or selling your services to your ideal clients.

But to launch a successful business, programme or service that generates consistent clients & sales, you first need to dedicate time to work on retrieving the necessary information that will create the foundations for you to work upon to achieve the results you desire!

In this blog post I will be sharing with you the 4 key reasons why market research will help you experience continuous growth & success throughout the lifetime of your business. It's all well and good knowing your business inside and out but can you say that you know your ideal clients on the same level?

1. You understand your customers needs

As a business owner it is important to set time aside to connect with your audience not only to sell to them but to learn from them too. Interacting with ideal client accounts online will highlight to you any common trends as well as identifying personal qualities like passions & interests, that you can bring into areas of your business like your marketing strategy to increase reach & engagement rates.

However, it doesn't stop there.

You can take your ideal client market research to the next level by building and establishing trusted relationships that will allow you to hold more meaningful conversations, these provide you with a great opportunity to start exploring your client on a deeper level. Prompting questions around current blocks, hurdles or setbacks will help you to identify your ideal clients pain points and weakness to help you craft a service or programme that they are more likely to invest in as it is tailored to them and their needs. 

2. You make informed decisions

If you are in the early stages of your business, you may find yourself; guessing when it comes to making important decisions, seeking validation from others in your decision making or even second guessing yourself once you have made a decision.

This approach to decision making will only stump your business growth, which is why it is so important to carry out market research because it provides you with solid facts. You will collate real data, information, statistics and first hand experiences that will help you to make more informed & confident decisions that you know will benefit you, your business and your clients rather than resting the fate of your business on guesswork.
As a solopreneur myself, I get that it’s easy to dismiss the importance of market research. After all, when you first start out in business or think of an idea for a new programme or service, the last thing you want to do is to spend hours carrying out market research. You just want to get to the good stuff, right?! You want to start working on designing your new branding, creating your new programme resources or selling your services to your ideal clients.

But to launch a successful business, programme or service that generates consistent clients & sales, you first need to dedicate time to work on retrieving the necessary information that will create the foundations for you to work upon to achieve the results you desire!

In this blog post I will be sharing with you the 4 key reasons why market research will help you experience continuous growth & success throughout the lifetime of your business. It's all well and good knowing your business inside and out but can you say that you know your ideal clients on the same level?

1. You understand your customers needs

As a business owner it is important to set time aside to connect with your audience not only to sell to them but to learn from them too. Interacting with ideal client accounts online will highlight to you any common trends as well as identifying personal qualities like passions & interests, that you can bring into areas of your business like your marketing strategy to increase reach & engagement rates.

However, it doesn't stop there.

You can take your ideal client market research to the next level by building and establishing trusted relationships that will allow you to hold more meaningful conversations, these provide you with a great opportunity to start exploring your client on a deeper level. Prompting questions around current blocks, hurdles or setbacks will help you to identify your ideal clients pain points and weakness to help you craft a service or programme that they are more likely to invest in as it is tailored to them and their needs. 

2. You make informed decisions

If you are in the early stages of your business, you may find yourself; guessing when it comes to making important decisions, seeking validation from others in your decision making or even second guessing yourself once you have made a decision.

This approach to decision making will only stump your business growth, which is why it is so important to carry out market research because it provides you with solid facts. You will collate real data, information, statistics and first hand experiences that will help you to make more informed & confident decisions that you know will benefit you, your business and your clients rather than resting the fate of your business on guesswork.
As a solopreneur myself, I get that it’s easy to dismiss the importance of market research. After all, when you first start out in business or think of an idea for a new programme or service, the last thing you want to do is to spend hours carrying out market research. You just want to get to the good stuff, right?! You want to start working on designing your new branding, creating your new programme resources or selling your services to your ideal clients.

But to launch a successful business, programme or service that generates consistent clients & sales, you first need to dedicate time to work on retrieving the necessary information that will create the foundations for you to work upon to achieve the results you desire!

In this blog post I will be sharing with you the 4 key reasons why market research will help you experience continuous growth & success throughout the lifetime of your business.

1. You understand your customers needs

As a business owner it is important to set time aside to connect with your audience not only to sell to them but to learn from them too. Interacting with ideal client accounts online will highlight to you any common trends as well as identifying personal qualities like passions & interests, that you can bring into areas of your business like your marketing strategy to increase reach & engagement rates.

However, it doesn't stop there.

You can take your ideal client market research to the next level by building and establishing trusted relationships that will allow you to hold more meaningful conversations, these provide you with a great opportunity to start exploring your client on a deeper level. Prompting questions around current blocks, hurdles or setbacks will help you to identify your ideal clients pain points and weakness to help you craft a service or programme that they are more likely to invest in as it is tailored to them and their needs.

2. You make informed decisions

If you are in the early stages of your business, you may find yourself; guessing when it comes to making important decisions, seeking validation from others in your decision making or even second guessing yourself once you have made a decision.

This approach to decision making will only stump your business growth, which is why it is so important to carry out market research because it provides you with solid facts. You will collate real data, information, statistics and first hand experiences that will help you to make more informed & confident decisions that you know will benefit you, your business and your clients rather than resting the fate of your business on guesswork.
How to attract and secure clients online
3. You keep an eye on your competitors

When it comes to carrying out market research within your business, it's important to obtain a diverse range of resources & information to work with, this includes analysing your competitors. Don't be afraid to cast your beady eyes over others businesses and social media accounts as this is where some of the most valuable information can be retrieved.

You can identify your competitors strengths, such as: 

• What are they doing well?  
• What is performing/selling best?  
• What are their clients connecting with most? 

While also identifying there areas of weakness too which will ensure you make impactful decisions that ensure your ideal client choose to invest in you over your competitor.

Which leads me nicely onto my next point...

4. You lower the risk of errors

As a Virtual Assistant I know just how valuable time is, as the saying goes "time is money", which is why it's important to ensure the work you carry out is intentional & purposeful and features as few mistakes as possible to maintain consistent momentum for the growth & sales of your business. 

Of course, it's only natural to make errors in business (we aren't perfect) but some of the mistakes you've made in the past during service or programme launches could have been avoided if you carried out market research first. Market research allows you to identify and prepare for any potential challenges & mistakes that may occur to ensure you have plan of action or resolution in place to overcome, work through it and avoid errors that could impact the overall success of your launch.

To conclude...

If there is one task that you should ensure takes priority in your business it's market research! 

You don't have to commit to endless amounts of in-depth surveys or questionnaires to conduct market research but, it’s important that you dedicate time throughout the lifetime of your business (especially at key stages such a launches) to carry out market research that will help you collate the foundational information you need to achieve the results you desire for consistent growth & success. 

So if you would like support in carrying out effective market research for your next service or programme launch then click here to check out my packages & prices and to book a free discovery call today.

With love, 
Cassie xx


3. You keep an eye on your competitors

When it comes to carrying out market research within your business, it's important to obtain a diverse range of resources & information to work with, this includes analysing your competitors. Don't be afraid to cast your beady eyes over others businesses and social media accounts as this is where some of the most valuable information can be retrieved.

You can identify your competitors strengths, such as: 

• What are they doing well?  
• What is performing/selling best?  
• What are their clients connecting with most? 

While also identifying there areas of weakness too which will ensure you make impactful decisions that ensure your ideal client choose to invest in you over your competitor.

Which leads me nicely onto my next point...

4. You lower the risk of errors

As a Virtual Assistant I know just how valuable time is, as the saying goes "time is money", which is why it's important to ensure the work you carry out is intentional & purposeful and features as few mistakes as possible to maintain consistent momentum for the growth & sales of your business. 

Of course, it's only natural to make errors in business (we aren't perfect) but some of the mistakes you've made in the past during service or programme launches could have been avoided if you carried out market research first. Market research allows you to identify and prepare for any potential challenges & mistakes that may occur to ensure you have plan of action or resolution in place to overcome, work through it and avoid errors that could impact the overall success of your launch.

To conclude...

If there is one task that you should ensure takes priority in your business it's market research! 

You don't have to commit to endless amounts of in-depth surveys or questionnaires to conduct market research but, it’s important that you dedicate time throughout the lifetime of your business (especially at key stages such a launches) to carry out market research that will help you collate the foundational information you need to achieve the results you desire for consistent growth & success. 

So if you would like support in carrying out effective market research for your next service or programme launch then click here to check out my packages & prices and to book a free discovery call today.

With love, 
Cassie xx


3. You keep an eye on your competitors


When it comes to carrying out market research within your business, it's important to obtain a diverse range of resources & information to work with, this includes analysing your competitors. Don't be afraid to cast your beady eyes over others businesses and social media accounts as this is where some of the most valuable information can be retrieved. 


You can identify your competitors strengths, such as: 


• What are they doing well? 

• What is performing/selling best? 

• What are their clients connecting with most? 


While also identifying there areas of weakness too which will ensure you make impactful decisions that ensure your ideal client choose to invest in you over your competitor.


Which leads me nicely onto my next point...


5. You lower the risk of errors


As a Virtual Assistant I know just how valuable time is, as the saying goes "time is money", which is why it's important to ensure the work you carry out is intentional & purposeful and features as few mistakes as possible to maintain consistent momentum for the growth & sales of your business.

Of course, it's only natural to make errors in business (we aren't perfect) but some of the mistakes you've made in the past during service or programme launches could have been avoided if you carried out market research first. Market research allows you to identify and prepare for any potential challenges & mistakes that may occur to ensure you have plan of action or resolution in place to overcome, work through it and avoid errors that could impact the overall success of your launch.


To conclude...


If there is one task that you should ensure takes priority in your business it's market research!


You don't have to commit to endless amounts of in-depth surveys or questionnaires to conduct market research but, it’s important that you dedicate time throughout the lifetime of your business (especially at key stages such a launches) to carry out market research that will help you collate the foundational information you need to achieve the results you desire for consistent growth & success.


So if you would like support in carrying out effective market research for your next service or programme launch then click here to check out my packages & prices and to book a free discovery call today.


With love, 

Cassie xx

Get the latest blog post direct to your inbox!

 Simply drop your email address below to receive the latest blog post direct to your inbox.

Get the latest blog post direct to your inbox!

 Simply drop your email address below to receive the latest blog post direct to your inbox.

Share by: