Don't Make These 7 Market Research Mistakes and Kill Your Coaching Business
Leticia Francis 
Learn how to do market research the right way and avoid these common mistakes that coaches make.
Are you a coach looking to create a successful business that helps your clients achieve their dreams? Then you need to avoid these seven deadly market research sins that could be killing your coaching business.
Mistake #1: Not Knowing Your Ideal Client
If you don't know your ideal client, how can you serve them? Don't guess or assume you know your client. Conduct research to determine their demographics, psychographics, and pain points. Understanding their needs and desires is essential to building a successful coaching business.
Mistake #2: Conducting Inadequate Research
Conducting inadequate research leads to inaccurate data and bad decisions. Don't rely solely on online surveys or questionnaires. Talk to your ideal client in person, over the phone, or via video conference. Get to know them, ask them questions, and understand their unique perspective.
Mistake #3: Not Defining Your Unique Selling Proposition (USP)
Your USP is the key to standing out in a crowded market. It's what makes you different and better than your competition. If you don't know what sets you apart, how can you attract clients? Conduct research to determine what your ideal client values most and highlight that in your USP.
Mistake #4: Ignoring Your Competitors
Don't ignore your competition. They can provide valuable insights into what's working and what's not. Study their websites, social media profiles, and client testimonials. Analyze their strengths and weaknesses and determine how you can differentiate yourself in the market.
Mistake #5: Failing to Test Your Ideas
Don't invest time and money in ideas that aren't proven to work. Test your ideas through market research, such as focus groups, surveys, or A/B testing. Testing your ideas can help you avoid costly mistakes and ensure that you're providing what your ideal client wants.
Mistake #6: Rushing to Launch
Don't rush to launch your coaching business without doing the necessary research. Take your time to test your ideas, define your USP, and understand your ideal client. Launching too soon can lead to a lack of direction, wasted resources, and failure.
Mistake #7: Not Continuously Conducting Research
Market research isn't a one-time event. Your ideal client's needs and desires change over time, and your competition is always evolving. Continuously conduct research to stay up-to-date with market trends, understand your clients' changing needs, and stay ahead of the competition.
In conclusion, market research is critical to the success of any coaching business. Avoid these seven deadly sins and start conducting effective research to gain insights into your ideal client, differentiate yourself from the competition, and provide the solutions your clients need.
Categories: : All You Need To Know, The Market Research Process
Zone of Genius Workbook
Need support with identifying your secret sauce so you can serve your ideal effectively, download my Zone of Genius Workbook
Ideal Client Avatar Workbook
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
Strategic Offer Creation Webinar
Learn all my secrets to strategically creating your next sell out offer. Watch the training now
Slaying Your Market Research: A Coach's Starter Guide
Upgrade your client acquisition with this practical and actionable guide. Get ready to slay your competition and grow your coaching biz like a boss.
Hello, Hello, Hello Lovely! I'm Leticia
Hey there, I'm Leticia THE Market Research Strategist for coaches and consultants with a data-driven background in analytics. That's why I call myself the “data diva”.
I'm not your average strategist, Lovely. I've spent years working for a top 5 Lloyds of London Insurance Syndicate, strategically positioning them for success. And I'm here to help you do the same.
I get it, you hired a coach before and they gave you vague advice about ideal client demographics. But let's be real, that's not enough. You need a practical and actionable plan to see the results you deserve.
And that's exactly what I'm here to teach you.
I've created The Market Research Mastery Method using my 13 years of data analytics experience that's helped me sell out my programs every single time - even ones I haven't gone public with!
But I'm not keeping this to myself, oh no. I'm on a mission to help female coaches and consultants take their businesses to the next level.
The struggle is real, Lovely. You're feeling burnt out, frustrated, and like you're spinning your wheels. But fear not, I'm here to help you position yourself for profitability and long-term success.
Let's get you the clarity you need to thrive in this competitive market. And don't forget, those multibillion-dollar companies didn't get where they are by chance. They did their research first.
Are you ready to join me on this journey?
Let's do this, Lovely!
