Question
As someone with few resources, I can only do market research through observations, talking to people and using google questionnaires in addition to finding secondary research done on the topic.
However, is this method of "market research" acceptable when I want to present my ideas to potential investors? Is there some sort of more valid form of market research?
Answer
Hi there. One of easiest ways I conduct market research is with a free website called Answer The Public. You can plug in keywords or groupings of words related to your industry and learn what types of questions people are asking online about the topic. Another thing you can do is follow what I call the PIGGLY method: Search Pinterest, Instagram, Google, Groups, LinkedIn, and YouTube to see what's currently showing up within your industry, the language people are using with regard to the needs/wants/desires, and then write a blog or create a video to present to those people. Validate the need before presenting the opportunity to an investor and you'll make that conversation go much smoother.
