Get the Strong Confidence Marketing Research Gets You
I did some market research to find out what most frustrated my prospects and, therefore, my future customers. Given that I often do market research for my customers (and I do it pretty well), why not do this for myself. Pretty novel, huh?
I wanted to explore what is it my customers are dealing with before they bring me on to work with them on a membership site. Please note that my ideal customer is already using Infusionsoft. They understand online marketing to some extent. They are now wanting a specialist and/or team of experts to work with them to get their online course or membership program up and running for their business. At this point, they also want it done at a price that works for them on a predictable schedule. It does have to support their business objectives, right?
So what did I do. I asked them 8 questions and one in particular uncovered some information I did not expect. The question is, “What is your biggest challenge when selecting a membership site provider?” Here are some of the answers I got:
- “I don’t know what it takes to build one [a membership site] and what I can expect from a provider.”
- “…I would need someone to help me understand where to even start.”
- “…my biggest concern is having the budget continually grow as the project goes along.”
- “…hiring someone to do something like this and spending more than necessary.”
I've been in the technology business since I joined the workforce what seems like ages ago. I've been either selling tech services, delivering tech services or buying tech services since then. This is good for delivering what I do, but it's also what I say "contaminates" me.
It sound obvious now as I look over the results of my market research questions, but it wasn't before. I had simply forgotten that when someone goes to buy something they don't understand well, there's a lot of apprehension. In many cases there's even anxiety, stress and self-doubt.
What can make this even more difficult is when the buyer has had a bad experience in the past with any tech decision. Even though I consider what I do more marketing related, someone unfamiliar with what we do sees it as yet another tech project. Because of that, many see a huge potential for a mess up.
And what does a bad decision mean for these buyers. It means paying more than needed. It means delays in getting their solution completed. If they work for someone, it means looking less than competent to their boss and peers. It could cost them a dent or damage a hard earned reputation they've built in their organization. If their screw up is bad enough, it could possibly cost them their job.
That sounds really clear after I've done this research, but it wasn't before. I naturally have a reassuring way about me when I'm explaining what I do to potential customers. I understand that techno-geek speak gets confusing to folks. I adjust my vocabulary and explanations to make things easier to understand and clear. I am now building on that. I'm now addressing some unspoken objections my prospects potentially have head on. If that insecurity is there, because I did the research, I'm talking about it before it comes up. That can be very reassuring to a prospect.
Don't underestimate the power of market research. Gut assumptions are interesting, but you can't argue with hard facts. You may uncover something that's totally obvious, but not totally obvious to you, the "contaminated" expert.
If you are considering an Infusionsoft / Memberium / LearnDash membership program or online course, consider our FREE mini-course called, “Building and Selling Your Online Course PROFITABLY.” It a short 5 lesson video mini-course. It should take you less than 30 minutes to complete. I've built it to demystify building these membership projects. It's designed ease up the anxiety any first time online course builder would encounter as they take on an effort like this.
Hopefully, it can help you move forward more confidently.