Find your ideal target audience for a successful product launch.
Define the goal of your market research.
Build your Buyer Personas or refine them based on your most recent data if you already have defined them.
Choose the type of market research you’ll perform like surveys, interviews, focus groups, or a combination of those.
Decide on a minimum number of participants to engage in the research based on your goals, method, and budget.
Identify the segments of your audience to include in your market research based on your buyer personas, making sure you have a segment for each buyer persona in your database relevant to your goal.
For example, if you want to know how potential clients perceive your scheduling software compared to a competitor, you should make sure you engage people from all categories of clients and people who aren’t currently using your product. On the other hand, if you want to know how a specific industry feels about a new feature you’re planning to introduce, you want to engage only current clients who operate in that specific industry.
Calculate how many participants you should include to have a statistically significant data set. Including how many are needed from every segment if you plan to engage people from multiple segments so that all categories are equally represented in the research.
For example, if 100,000 or more people are potential customers, you’d need to talk to 400 people to get feedback that would be accurate within a 5% margin of error.
Make lists of potential candidates from your existing customers, email list, social media connections, and even total strangers.
Ensure that you include people who can provide you with multiple points of view while still fitting your target buyer persona.
Select and invite people to engage with you who correspond to the identified segments and have been in contact with your brand recently.
This can be through social media, email, phone, website, or industry events until you have reached or exceeded the minimum amount of participants needed.