In this episode, we explore one of the most powerful tools every business owner should be leveraging - market research. I’m joined by Katie Spreadbury, an expert in understanding market trends and customer needs.

Katie walks us through how market research can help you avoid costly mistakes, better understand your audience, and make informed decisions that can take your business to the next level.

Key Takeaways:

1. Understand Your Audience: Katie highlights how knowing your target audience inside and out through market research will help you craft services or products that truly meet their needs.
2. Make Informed Decisions: Market research allows you to move away from guesswork and base your decisions on real data, reducing the risk of costly mistakes.
3. Identify Opportunities: Learn how market research helps you spot trends, opportunities, and gaps in the market, giving you a competitive edge.
4. Avoid Costly Mistakes: Without proper market research, you could be investing time and money into products or services that won’t resonate with your audience.
5. Build Trust with Your Audience: By consistently understanding and adapting to your audience’s evolving needs, you build stronger relationships and trust with your customers.

Action Steps:

1. Start by conducting basic market research—survey your current customers or use tools to learn more about your ideal audience.
2. Look at industry trends and see how your business fits into the larger picture. Use this data to shape your business strategy.
3. Make sure you're staying up to date with your audience’s changing needs by regularly engaging with them and analyzing their feedback.

Connect with Katie:

1. Instagram: www.instagram.com/orangesheepkatie/
2. Facebook: www.facebook.com/orangesheepresearch
3. Upside-Up Marketing Podcast: The Upside-Up Marketing Podcast Podcast Series - Apple Podcast

Three techniques to validate your offer BEFORE you launch - www.orangesheepresearch.co.uk/validate

Connect with Me:

1. Instagram: www.instagram.com/lucyjohnstonesocial
2. LinkedIn: www.linkedin.com/in/ljohnstonesocial