Chapter 1: The Importance of Market Research

If you're anything like me, the research phase of lead generation can be quite daunting. However, it is essential. This effort constitutes the 20% of work that yields 80% of the results, and we will frequently revisit it even months after launching our campaigns. To put it plainly, this groundwork is critical.

At Roper Growth Media, we have established a meticulous process that we follow consistently. The framework remains unchanged, but the content varies, allowing us to gather valuable insights no matter who we're collaborating with. This method has enabled us to eliminate much of the trial and error that usually accompanies campaigns. Before we kick off our initiatives, we know:

• Who our target audience is
• Where to locate them
• How to communicate effectively (transforming strangers into customers)
• How to leverage this knowledge to generate a substantial number of leads

Our clients are often astonished by the insights we provide, and the best part is that we don't incur any costs for research tools.

But how do we achieve this?

The answer is straightforward. Let me elaborate.

Initial Market Insights

Whenever we engage with a new client, our first step is to understand the founders’ perspectives.

Interestingly, they often lack clarity about their market. This isn’t necessarily their fault. I've encountered founders who describe their ideal customer, only for our research to reveal a completely different reality.

It's shocking how frequently this occurs. You don't want to simply rely on the founder's input, create a marketing funnel, and end up with disappointing results. No founder will readily admit, “Oh, that's my mistake; that was my research.”

Instead, the marketer usually bears the blame. Therefore, it’s essential to independently validate your findings to ensure success since, as noted, you will be the one held responsible.

That said, the initial discussions can offer a useful starting point for your research. The takeaway here is to approach existing knowledge with skepticism and accept that you may need to revise your assumptions.

Marketing is not a field where you should cling to what you believe. You should continually seek to disprove yourself—that's how you conduct the most effective research.

Once we complete this initial meeting, we enter Phase I of our process, which is the most labor-intensive yet yields the greatest benefits. As we often remind ourselves, “The better you prepare, the luckier you get.”

The Growth Evaluation Report

For each client, we produce a document known as the Growth Evaluation Report.

Let's explore its components:

#### Sherlock Holmes Approach

This represents the overarching mindset we adopt in our research. We understand that our messaging must resonate with those who are not yet ready to purchase but are gathering information, as well as those who are aware of their problems and those who are not. This is referred to as customer awareness.

How do we encourage these individuals to schedule a call or make a purchase? By engaging with the existing dialogue in their minds through our messaging, copy, ads, headlines, and more.

Our process for evaluating our audience involves understanding their discussions, interests, and concerns.

Of course, while demographic insights can help with targeting, psychographics are far more significant.

Here's how we conduct our research:

1. Identify 1 to 3 keywords and gather extensive data. This includes user-generated content from blogs, forums, YouTube comments, Amazon reviews, Reddit, Quora, and social media.
2. Analyze comments to see what questions people are asking—this is raw, unfiltered feedback in their own language.
3. Explore Facebook groups and pages: track posts made by both owners and visitors, and count engagement rates to identify popular topics.
4. Utilize Google’s auto-suggestion feature to uncover trending keywords that hint at underlying motivations and emotions.
5. Use answerthepublic.com (a paid service, but it offers three free searches per account) to deepen our understanding before proceeding.

#### WWWH Method

Let’s apply this to a tutoring business:

• We help (WHO):

  • Persona 1: High school students preparing for the SAT and ACT.
  • Persona 2: College students studying for the GRE.
  • Persona 3: Parents of students taking standardized tests.

• Achieve (WHAT):

  • Persona 1: Attain high scores on the SAT and ACT to gain admission to preferred colleges.
  • Persona 2: Secure top GRE scores for entry into desired programs.
  • Persona 3: Gain confidence that their child will reach their academic goals.

• Without (common beliefs):

  • Spending excessive hours on ineffective test prep.
  • The overwhelming complexity of standardized tests.
  • Repeatedly taking the test to achieve desired scores.
  • Anxiety over whether their child will achieve the necessary scores for university admission.

• By (HOW):

  • Offering personalized tutoring sessions, comprehensive study materials, and focused practice tests for improved confidence and scores.
  • Providing expert guidance that has proven effective in helping students achieve higher scores.
  • Avoiding the trial-and-error approach through established study methods to minimize test attempts.

This is the framework we establish before delving into the market.

Engaging with Prospects

Dive into Reddit and Quora to find discussions relevant to your prospects. Pay attention to recurring themes:

• Pain points
• Successful solutions
• Failed attempts
• Misconceptions
• Desires
• Challenges

This insight will fuel your marketing strategy.

Halo Strategy (coined by Sabri Suby)

Compile your findings into a structured format. Highlight commonalities and score them. This provides a data-driven foundation to support your strategy, free from personal biases.

The Larger Market Formula (coined by Sabri Suby)

This is critical. Recall what we discussed about customer awareness? Here’s where it becomes relevant.

• 3%: Actively buying—most businesses target this group with their ads.
• 17%: Gathering information about solutions.
• 20%: Aware they have a problem but not seeking solutions.
• 60%: Unaware they even have a problem.

Segment your personas into these categories to better understand their stages. This way, you can craft messaging that resonates uniquely with them, setting you apart from competitors.

Crafting Sales Angles

Using insights from your research, populate the following sections:

• Anecdotes from conversations with prospects.
• Key issues your personas face.
• Common misconceptions held by your personas.
• Potential barriers to engagement.
• Case studies from past clients.
• Features and benefits of your product.

Develop 5–10 sales angles using the Life Force 8 (LF8) framework from Drew Whitman’s Ca$hvertising.

The Life Force 8 encompasses eight fundamental human instincts inherent in everyone:

1. Survival and security
2. Enjoyment of life
3. Life extension
4. Enjoyment of food and other pleasures
5. Freedom from fear and pain
6. Sexual companionship
7. Comfortable living conditions
8. Social approval

Present your benefits aligned with these instincts, ensuring you appeal to basic human desires.

Competitor Analysis

Compile a comprehensive list of competitors. Use platforms like the Facebook and Google ad libraries to analyze their advertising strategies. Focus on ads that have been running for extended periods, as they likely yield profitable returns.

Examine similarities in:

• Lead capture methods
• Messaging and copy
• Channel utilization (Facebook, Google, etc.)
• Additional nuanced observations

This analysis can be further explored in my Profitable Facebook 'Master Key' Ad Guide. If you're interested, feel free to click here for your copy.

Building a Sales Funnel and Enablement Model

This is our approach to funneling potential customers. Here’s a visual representation:

Now that we’ve detailed the customer journey, we can build with clarity on the problems we aim to address, the experiences we want to create, and the reliable systems that can facilitate the process.

Having shared our entire approach, it may seem overwhelming. But remember, I’m here to assist you at no cost! Click here to apply for tailored growth evaluation insights for your business, completely free of charge.

TL;DR

Gather as much information as you can regarding your customers and marketing practices. What strategies have succeeded? Which have fallen short? Create your own Growth Evaluation Report using the following methods:

• Sherlock Holmes Approach
• WWWH Method
• Prospect Discussions
• Halo Strategy
• Larger Market Formula
• Sales Angles & LF8
• Competitor Analysis
• Sales Funnel and Enablement Model

Thank you for joining me on this journey to deliver value within the marketplace. If this content aids even a single individual, I’ll be as content as my cat when I scratch his head (he absolutely loves it!).

Happy Thanksgiving! 🦃

Additional Resources

The first video, "How To A/B Test Your Meta Ads Creatives (+ Free Cheat Sheet)," offers insightful strategies for optimizing your ads through effective A/B testing.

The second video, "Facebook Ads: Estimated Daily Results?!", provides valuable tips on interpreting daily performance metrics for your Facebook ads.