In my last post, I walked you through how my data-driven process led to the launch of Boreal Botanical Brewing, a medicinal mushroom-based beverage for the sober-curious. In this post, I cover the market research tools you can use to make sure that you’re solving real problems for consumers. Most of those tools are free (at least for a while) and aren’t hard to use and will give you a real leg up in serving your customer well.
Use Market Research Tools to Identify Real Problems
There are a multitude of tools out there that will help you figure out what problems consumers are looking to solve. Those tools include research, reports, and even newsletters that will help you learn more about current food and drink trends, i.e, changing consumer behavior. We’ll cover each of these tools here.
Google has access to more data than any other entity on the planet. Luckily for the entrepreneur, they make much of this data freely available. However, it needs processing before it becomes useful. To do this we first need to understand what kind of information the data delivers to us, then ensure that we ask the right questions, and use the right tools to get the most value out of it.
#Bestlife vs. #Reallife
People tend to live their #bestlife on Instagram and Facebook, posting highly curated content that makes them look good in the eyes of their audience. But they tend to live their real life on Google, where they search for solutions to problems they face every day.
Take a look at two identical searches, performed first on Instagram, then on Google.
Search for #newbornbaby on Instagram and be prepared to be buried underneath an avalanche of cuteness: