Facebook can be a goldmine for market research. You just have to know where to look!

Last week we wrapped up an EPIC Idea Validation Challenge and it was exactly that: EPIC.

Now we take that as a perfect segway to dive a little deeper into how to do market research on Facebook, when you don’t even have an audience yet!

HOW TO DO MARKET RESEARCH ON FACEBOOK

In last week’s episode we talked about how to do market research on a much smaller scale.

The truth of the matter is that real market research is about doing a full assessment of the current market.

What are competitors doing? Finding out who is buying your competitors products!

Here’s the problem, though: when you start out, you don’t have an audience, so you can’t ask your audience anything.

So I wanted to share with you a trick to get around this problem.

USING EXISTING FACEBOOK GROUPS

When you think of where you audience may be hanging out, think of massive Facebook groups.

Just do a search for your topic and start joining Facebook groups that have more than 10K members.

When you search for groups, try to think creatively.

People who want to start a pdocast may not be in Podcasters groups, but they may be in their particular niche group, like fashion groups, or fitness groups.

Once you are in, that’s where the fun begins.

I’m going tell you a couple of ways to do it. But the more you do it, the more you’ll become a master at it.

1) POST SOMETHING YOUR TARGET AUDIENCE IS LIKELY TO RESPOND TO

We all go ga-ga for something. What is that thing that would make your audience respond?

To help you with this, I created a freebie. It’s a bonus for signing onto my mailing list. It is 20 conversation starters that you can apply to your industry today!

2) SEARCH FOR KEYWORDS WITHIN THE GROUP

What are people talking about when it comes to your topic?

Perform a search to find out what people are saying about it and start reading comments!

USING AMAZON BOOK REVIEWS

Another great way is to run a search for popular books on Amazon that are related to your niche, and read the reviews!

People LOVE to complain out loud, which is why there are so many more negative reviews than positive for anything!

So this will be a gold mine for your objections research.

Listen to the full episode for more examples and don’t forget to take home your freebie!

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