Let's build a product (Part 3): Secondary market research
Time to manipulate some data
I am trying to get to know my audience a little better to help me understand your backgrounds and interests. If you could Please fill out this short survey that would be amazing!
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Last time on digital thoughts…
Last time on digital thoughts…
We discussed coming up with an idea and the different types of businesses. If you want to read that you can find it here:
(https://zainsyed.substack.com/p/lets-build-a-product-step-one-come)
(https://zainsyed.substack.com/p/lets-build-a-product-user-interviews)
Roll the intro music!
Now that you have talked to your potential customers and validated your idea, it’s time to open your laptop and start googling. This isn’t the most exciting step but it is very necessary step. Smart people call this secondary market research (I just found that out).
This is after you have gone out and spoken with potential customers and focus groups. After your idea has been validated now you look at cold hard data.
I am going to list some helpful resources that I found during my research below:
U.S. Census (https://www.census.gov) specifically the data and maps section. Blown away with how you can manipulate the data!
U.S. Department of Commerce (https://www.commerce.gov/)
U.S. Small Business Administration (https://www.sba.gov/)
Bureau of Labor Statistics (https://www.bls.gov/home.htm)
Trade Associations
Academic research
Paid research companies
Google Trends (https://trends.google.com/trends/)
Pew Research Center (https://www.pewresearch.org/)
Almost all those resources are free to use and can give you great insights into your market!
Update on my product…
I had some technical issues that I was working through that required some reinstalling and troubleshooting. I am hoping that next time I will be able to show you guys something.
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