How to Effortlessly Integrate Market Research into Your Daily Routine

Hi community!

Over the last few newsletters I’ve shared several key techniques for entrepreneurs trying to build their portfolio career businesses. We’ve talked about strategy and building holistic wealth and what these really mean.?

But this week, let’s talk about something different. Something that we all hear about and (sometimes) talk about but something that eludes many of us, because “we just don’t get it”.

Yes, let’s talk about market research.

If you’re a consultant, coach, speaker, workshop facilitator, or fractional executive, you know that your business thrives on understanding your clients inside and out. Knowing what makes your clients tick is your superpower.?

But let’s face it—market research can feel daunting. The term just dregdes up images of hours spent burying our noses in reports or surveys. Snooze!?

But I’ve got news for you: it doesn’t have to be that way. And I'm going to tell you how you can make market research painless.?

Why market research is non-negotiable

But first thing first: in our fast-paced, client-driven world, market research isn’t just a nice-to-have—it’s essential. You simply can’t afford to skip it. Here’s why:

1. It keeps you relevant?

Markets evolve faster than a viral tweet. Regular research keeps you ahead of the curve, ensuring your services remain relevant and in demand.

2. It makes you better?

Understanding your clients’ evolving challenges allows you to fine-tune your services, making you the go-to expert they can’t live without.

3. It builds deeper connections?

When you know what your clients truly need, you can offer targeted solutions that resonate deeply, turning satisfied clients into raving fans.

Now that that’s out of the way, let’s get to the real question…

How do I make market research painless?

But that brings us to the other important question: what data should you look at??

As many of you might already know, there are two types of data that can be used for market reseach—primary data and secondary data.?

Secondary data, like industry reports and competitor analyses, can offer valuable insights into general market trends. However, let’s be real—these reports can be expensive, a bit outdated, and might not always align perfectly with your specific needs.

That’s where primary data comes in.?

This is the goldmine of market research. By going straight to the source—your clients, potential customers, or target audience—you gather fresh, relevant insights that directly apply to your business. It’s the difference between a broad overview and a tailored strategy that hits the mark. Now, let’s debunk a major myth about market research.?

Myth: Market research is a time-sink.?

Fact: It can be, if you’re not doing it right. But if you do it right, It can be —dare I say it—fun!?

Yes, with a little creativity, you can make market research and gathering primary data fun.

Here’s how:

1. Client conversations are goldmines: Every interaction is a chance to gather insights. During your coaching sessions, workshops, or executive meetings, sprinkle in questions like, “What’s keeping you up at night?” or “Where do you see the biggest opportunities right now?” These insights are worth their weight in gold.
2. Master the art of social listening: Your LinkedIn feed is more than just a place for motivational quotes. It’s a real-time research tool. Engage with posts, join discussions in relevant groups, and pay attention to what your target audience is saying. It’s like eavesdropping, but way more ethical.
3. Micro-surveys with macro impact: Who says surveys have to be a chore? Create short, punchy surveys your clients actually want to fill out. A single, well-crafted question can give you the clarity you need to refine your next workshop or speaking topic.
4. Data, data everywhere: Analytics from your website, emails, or social media are like breadcrumbs leading you to what’s working and what’s not. A quick weekly review can reveal trends you might have missed, allowing you to adjust your strategy on the fly.
5. Mix and mingle (virtually or IRL): Attending industry events isn’t just about networking—it’s a treasure trove of market research. Listen to what’s on people’s minds, take note of emerging trends, and let these insights inform your next big move.

Make it a habit, not a hassle

To keep your market research efforts light and effective, build it into your routine:

• Set clear intentions: Know what you’re trying to learn. Are you refining a workshop? Pivoting your coaching niche? Clarity will keep your research focused and manageable.
• Schedule bite-sized research sessions: Instead of blocking out half a day for research, dedicate 15-30 minutes weekly. This way, it’s consistent and doesn’t feel like a chore.
• Crowdsource insights: Engage your team, peers, or even clients in the research process. Different perspectives can provide a richer understanding and make the whole process more enjoyable.

Conclusion

At the end of the day, market research is more than just gathering data—it’s about really getting to know our clients and industries. By integrating research into your day-to-day life in a fun, seamless way, you ensure your services stay relevant, impactful, and ahead of the curve.

With a little creativity and a lot of curiosity, market research can become less of a task and more of a natural part of your entrepreneurial journey. Think of it as having lots of friends who have piping hot tea to serve—you just have to be there for it!

With gratitude,

Saleema.

P.S. If this newsletter helped demystify market research for you, feel free to share it with other consultants, coaches, and fractional execs in your network. Let’s keep supporting each other in creating businesses that truly make a difference!