Last updated on February 1st, 2022. Posted in Finding Profitable Business Ideas.
One way to gain insights into the target market that you want to serve in your online business is to conduct customer interviews. This can be a great way to learn more about the needs, challenges, and frustrations that your customers are dealing with. However, there can be some challenges.
Here are links and resources mentioned in today's video. Enjoy!
Interviewing your customers is certainly valuable...but the key word here is CUSTOMER -- that is, someone who's already paid for your product or service. And we could expand that a bit to "the kind of person who WOULD buy from you." And here's why:
Very often, entrepreneurs rely on the the WRONG data. We talk to the WRONG people, listen to WRONG opinions, and follow the WRONG advice.
If the person you're talking to ISN'T your customer, isn't the sort of person who'd buy from you...isn't even a member of the target audience you're serving...then whatever they say, good or bad, isn't applicable to you, your products and services, or to your online business.
If you're going to be conducting interviews for market research...make sure you're talking to the right people! You're relying on them as the basis for all the products you develop, you marketing, and the direction you'll take your business in. So make sure it's coming from a reliable source!
Another challenge with interviews and speaking directly to your customers and members of your target audience is, that very often you're putting them on the spot. It's all sorta in the moment and they probably aren't in the right headspace.
It would be like me asking you, "What's your three favourite songs of all time?" or "What are the last good articles you've read online?" You could probably muster an answer of some kind...but you'd be missing some good ones for sure, right?
It isn't until later on when you might think of better answers -- "Dohh, I forgot about Billy Ray Cirus!" Later on, you've got more time to think and you aren't "on the spot." Or even better is when you're directly "in the zone" and struggling, right?
So this can be another challenge when using interviews for your market research. You're catching your customer off-guard, or you interrupt their train of thought with a question out of left field. And so often, you wind up with false data. So a better way to gain more reliable data is to observe.
In other words, if you can, watch them while they do what they do. Observe them in action and pay attention when they start to get frustrated or run into a problem. That's when you can ask, "what's the problem here?" "What are you struggling with?" and "What could fix this?"
That's a great way to get much more reliable data. And you know what? If you catch your customer in the moment, and ask them these sorts of questions, they're gonna gush information about all their pains and frustrations...so bring a pen cuz you'll wanna write it down!