The Power of A 360° Approach To Market Research

As a coach, you want to make a significant impact on your clients' lives and make a consistent income while doing so. To achieve this, it is essential to understand the market and the customers you serve. That's where market research comes in.

My unique 360° approach to market research is a comprehensive strategy that enables coaches to gather data from different sources and gain a deep understanding of the market, customer needs, and competition. The approach covers five key areas: your strengths, your ideal client, your audience, past clients (if applicable), and direct competitors.

Let's take a closer look at each of these areas and how they can help you position yourself for consistent income.

Your Strengths:

Identifying your unique selling proposition and leveraging it to stand out in a crowded market is vital for positioning yourself as an authority in your niche. By understanding your strengths, you can capitalize on them and differentiate yourself from your competitors.

Your Ideal Client:

Your ideal client is the foundation of your business, and understanding their needs, challenges, and aspirations is crucial for creating a compelling offer that resonates with them. The 360 approach helps you gather data about your ideal client's demographics, psychographics, and buying behavior, allowing you to tailor your services to their needs.

Your Audience:

Engaging with your audience is critical for building brand awareness and trust. The 360 approach helps you understand your audience's interests, pain points, and preferences, enabling you to create content and marketing strategies that resonate with them.

Past Clients:

Feedback from past clients is a valuable source of information for improving your coaching business. The 360 approach helps you gather feedback on their pain points, needs, and areas of improvement, allowing you to refine your services and improve customer satisfaction.

Direct Competitors:

Analyzing your direct competitors can provide valuable insights into the market and help you identify gaps and opportunities. The 360 approach helps you analyze your competitors' strengths, weaknesses, offers, and marketing strategies, allowing you to differentiate yourself and create better offers.

Using my 360 approach, coaches can gather comprehensive data and insights that enable them to make informed decisions about their business. By leveraging this information, coaches can create offers that resonate with their ideal clients, improve their marketing strategies, and position themselves as authorities in their niche.

Here are some examples of how coaches can implement this approach right now to improve their market research process:

Let's start with an example of a life coaches helping women rebuild after divorce

Your Strengths:

• Conduct a self-assessment to identify your unique skills, experience, and qualifications as a life coach.
• Analyze feedback from past clients to identify the areas where you excel and where you could improve.
• Attend industry events and connect with other coaches to gain insights and inspiration.

Your Ideal Client:

• Conduct online surveys to gather demographic data on women who have gone through a divorce.
• Research online forums, social media groups, and blog comments to gain insights into the challenges, pain points, and aspirations of divorced women.
• Conduct interviews with divorced women to gather first-hand information on their experiences and needs.

Your Audience:

• Develop a lead magnet, such as an e-book or a webinar, to attract potential clients and collect their contact information.
• Analyze your website and social media analytics to understand the interests and behaviors of your audience.
• Engage with your audience through email marketing, social media, and community events to build trust and establish yourself as an authority in your niche.

Past Clients:

• Conduct a survey or schedule follow-up calls with past clients to gather feedback on their experience with your coaching services.
• Analyze client testimonials and reviews to identify common themes and areas of improvement.
• Use feedback from past clients to refine your coaching services and marketing messaging.

Direct Competitors:

• Research other life coaches who specialize in helping divorced women to understand their offers, pricing, and marketing strategies.
• Analyze their website and social media content to identify their strengths and weaknesses.
• Use this information to refine your own offer and differentiate yourself from your competitors.

Here is an example of how a health coach who specializes in helping women lose weight could gather data for each element of the 360 approach

Your strengths:

• Conduct a self-assessment of your skills and experience in the health and wellness field, and identify what sets you apart from other health coaches.
• Look for testimonials or reviews from past clients to understand what they appreciated most about your coaching approach.
• Analyze your social media engagement and website traffic to see which types of content and messaging resonates most with your audience.

Your ideal client:

• Conduct surveys or focus groups with women who are interested in losing weight to gather information about their demographics, lifestyle, and weight loss goals.
• Analyze data from online health and wellness communities or forums to understand the common challenges and pain points that women face when trying to lose weight.
• Use social media analytics tools to gain insights into the interests and behaviors of women who engage with your content and messaging.

Your audience:

• Use social media listening tools to monitor conversations about weight loss and wellness in real time and engage with users who have questions or concerns.
• Create educational content, such as blog posts or videos, that address common weight loss myths and misconceptions.
• Host webinars or workshops to educate and engage with women who are interested in learning more about healthy weight loss strategies.

Past clients:

• Send out surveys or conduct one-on-one interviews with past clients to understand their pain points, challenges, and successes during their weight loss journey.
• Analyze client feedback and reviews to identify areas where you can improve your coaching approach and service offerings.
• Follow up with past clients to gather data on their long-term weight loss progress and overall satisfaction with your coaching services.

Direct competitors:

• Analyze the websites and social media profiles of other health coaches who specialize in weight loss for women to understand their marketing strategies and service offerings.
• Conduct competitive analysis of pricing and packaging for health coaching services in your area.
• Research popular weight loss programs and trends to gain insights into the broader weight loss industry and identify potential opportunities for collaboration or innovation

Now here are some possible ways a BUSINESS coach who supports women starting a business can gather data

Your Strengths:

• Conduct a SWOT analysis to identify your unique strengths and weaknesses as a business coach.
• Gather feedback from current and past clients about what they found most valuable in your coaching and how it helped them start their business.
• Research and analyze successful business coaches in your niche to identify what sets you apart from them.

Your Ideal Client:

• Use online surveys, social media, and blog comments to gather demographic information about your ideal client, such as age, gender, location, and income level.
• Conduct in-depth interviews with ideal clients to learn about their specific needs and challenges when it comes to starting a business.
• Research market trends and statistics to identify potential gaps in the market that your ideal client needs help with.

Your Audience:

• Create valuable content that speaks to your audience's interests and needs, such as blog posts, videos, or webinars.
• Engage with your audience on social media platforms where they hang out, such as LinkedIn, Facebook, or Twitter.
• Attend industry events and conferences to network with potential clients and learn about their challenges and needs.

Past Clients:

• Gather feedback from past clients about what they found most valuable in your coaching and how it helped them start their business.
• Conduct surveys to understand the challenges that your past clients faced in starting their business and what they would have done differently.
• Use case studies to showcase the success stories of your past clients and how your coaching helped them achieve their goals.

Direct Competitors:

• Analyze the strengths and weaknesses of your direct competitors, including their coaching offers, pricing, marketing strategies, and client base.
• Identify potential opportunities and gaps in the market that your competitors may have overlooked.
• Use competitor analysis tools, such as SEMrush or Ahrefs, to understand your competitors' online presence and identify potential areas for improvement in your own online marketing strategy.

Are you ready to position yourself for consistent income? My done-with-you and done-for-you market research solutions can help. With my expertise and the 360 approach, I can help you gather data, analyze it, and make informed decisions that drive your coaching business forward.

Don't leave your success to chance. Invest in market research today and take your coaching business to the next level.

Need support with identifying your secret sauce so you can serve your ideal effectively, download my Zone of Genius Workbook

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Need some guidance with identifying what you need to know about your ideal client so you can target them directly, download my Ideal Client Avatar Workbook

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Learn all my secrets for identifying your ideal client's pain points and “speaking” to them in language they understand and makes you sales. Watch the training now

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