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Market Research

Discussion in 'Planning Your Business' started by Ben Sealey, Jul 12, 2016.

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  1. Ben Sealey

    Ben Sealey Member

    How do you do market research. I am looking to start a business that helps property managers. There are several property managerment softwares out there. I do think there is room in the areana for one more. I do want to do market research, but don't know the best way to get started. I need to understand any pain points that property managers have. If you have a suggest, please let me know.

  2. Prinston Hicks

    Prinston Hicks Member

    You should go and ask to do an interview with property managers. A lot of people are willing to be interviewed and during the interview you can just take notes on the type of problems that you hear from various property managers. When creating a product the best place to go is straight to the audience, and the good things is you already know who you want to target.
  3. Ewa

    Ewa Member

    Try sending out surveys first. Include the questions you want to gain insight on, for example:

    "On a scale of 1-10 how likely you would be to use a service that..."
    "What is a feature of a management software that you wish was updated?"

    Highly recommend you a platform typeform.com:

    -has digital outlook, templates;
    -easy to use;
    -unlimited number of questions and unlimited number of answers;
    -lets you easily pick types of questions such as scale, multiple choice, picture choice, etc.
    -lets you share easy link with people;
    -gathers all the data into a table and lets you analyse it.

    Good luck!
  4. Cameron Hunt

    Cameron Hunt Member

    I would say make a spreadsheet with a few people that are doing the same kind of thing and go through the pros and cons of their service (even email them or give them a friendly call and pretend to be interested in their service)

    Try to gather the more 'pros' possible and get your software to be better than theirs. Then you just have to get some ads out.

    Let me know how it goes man

  5. Wanderer1689

    Wanderer1689 Member

    Create a database with all the contacts and their details nad then sort it out according to your requirement

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