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W3 Market Niche Research

Summary:

We look for the Digital Breadcrumbs our customers leave behind on the internet:

  1. Language people use to describe what they’re searching for;
  2. Communities they join to talk about their problems & solutions;
  3. Content they consume to learn about their problems & solutions;
  4. Pricing they are sensitive to.

These clues point to a niche market that we can either create or join with our Value Proposition.

My Checklist
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Time to set aside for this task: minimum of 4-6 hours (remember: in bite-sized chunks!!)

END RESULT: A varied list of known data points that will allow you to create a compelling Value Proposition.

8 Steps

  • 03.1 Decide on where to take notes (worksheet or separate sheets)
  • 03.2 Write down 5 – 10 Key Phrases
  • 03.3 Identify & write down 5 – 10 Communities / Influencers
  • 03.4 Identify & write down 5 – 10 blogs and what they’re about
  • 03.5 Identify & write down 5 – 10 podcasts and what they’re about
  • 03.6 Identify & write down 5 – 10 video channels and what they’re about
  • 03.7 Identify & write down 5 – 10 types of marketing tools and what they’re about
  • 🌟 BONUS 🌟 03.8 Take your refined KeyPhrase and identify the niche sales cycle with Google Trends

✨ Kudos to Cohort members who've completed this! ✨

Session goodies
Market Niche Research
September 30, 2022 12:40 pm
September 30, 2022 12:40 pm
Exercise 1

The Carpet Merchant

5 min

Exercise 1

The Carpet Merchant

Flexing our inference muscles: What is happening in this painting?

Desired Result: Share with the group what you can infer from the painting.

Go to the Painting
Exercise 2

Inferring things about Jan's world

10 min

Exercise 2

Jan's World

Allow 10 minutes. Discuss what we can tell about people like Jan by looking at the places they visit on the internet.

Would this have any bearing on Mike's app?

Desired Result: Share with the group what you can infer from Jan's 'data.'

Go to the Sheet

   —–>   

September 30, 2022 12:40 pm

03 Market Niche Research

0%

Time to set aside for this task: minimum of 4-6 hours (remember: in bite-sized chunks!!)

END RESULT: A varied list of known data points that will allow you to create a compelling Value Proposition.

8 Steps

  • 03.1 Decide on where to take notes (worksheet or separate sheets)
  • 03.2 Write down 5 – 10 Key Phrases
  • 03.3 Identify & write down 5 – 10 Communities / Influencers
  • 03.4 Identify & write down 5 – 10 blogs and what they’re about
  • 03.5 Identify & write down 5 – 10 podcasts and what they’re about
  • 03.6 Identify & write down 5 – 10 video channels and what they’re about
  • 03.7 Identify & write down 5 – 10 types of marketing tools and what they’re about
  • 🌟 BONUS 🌟 03.8 Take your refined KeyPhrase and identify the niche sales cycle with Google Trends
Recording from thursday, June 23rd, 2022

Market Research Techniques

Market Research Demos

4 Videos
references & downloads

Use this worksheet to keep track of all the places you visit.  Remember, it’s about the meta-analysis, not the details (yet)!

Linkable links that link to links of missing links so we can link links together.

Novice customers use different language than seasoned customers.  Keep track of who says what and when using this language spectrum tool.

A more formalized approach to recognizing the assumptions we’ve been making about our customers.  Helpful for when we need to get specific – now or later in our process.