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“How To Launch A New
Product Using Effective
Market Research…”
I Will Cover 4 Things:
1- Why this is important
& why you should listen to me
2- Theory about buying
psychology & market r...
3- How to do market research
step-by-step
4- Immediate next actions
First = Back to school
Last = Techniques
“Why Market Research
Is Important…”
You Will Be Able To
Determine:
Customer problems
Features & benefits
Customer concerns
Offer & price…
…Marketing channels
Value proposition
Motivation & urgency
Product names
And much more…
80/20
Market research is success
insurance!
“My Story & Why I’m
Qualified To Talk About
This…”
Risk-Free
Startup Weekend Sydney
2011
Helped Others
Startup Weekend Adelaide –
500+ Alumni & x 5
Flinders University Venture
Dorm - 100+ Alumni & x 4
Valuations
$6,000,000+ (& Revenue)
“Buying Psychology &
Market Research
Theory…”
Market Research?
“Is any organized effort to
gather information about
customers”
For You
Use that information to inform
your business, your career &
your personal life
Case Study
Amazon use a process called
“working backwards” for new
product creation
“Start with your customer &
work back to the minimum set
features to satisfy what you
try to achieve” – CTO, Werner
Vogel
Press release
FAQ
User manual
> Before product creation
Sales Elements
Qualifying
Credentials
Benefits
An offer
Call to action
& So on
Market Research
Directly relates to your sales
presentation
You Want To:
“Enter into the conversation
that your prospect is already
having in their own mind” –
Copywriter, Robert Col...
Humans ♥ Homeostasis
= A condition that remains
stable & relatively constant
Human Motivation
x 2 / pain vs  pleasure
Maslow’s Needs
Upper = Seeking pleasure
Lower = Avoiding pain
Purchasing Logic…
Pain or problem
= Not in homeostasis
= Outside comfort zone
> Anything to return FAST
^ Motivation to find a solution
^ Willing to talk about it
Insight into their worldview
Sales
Mirror exact phrases
 “This is exactly what I
need!”
Human’s ♥ Instant
Gratification
Want to get back to their
comfort zone FAST
They see value
Not opportunity cost
= Focused on getting back to
their comfort zone
MRI Scans
Thought > Action >
7 seconds > Realise
Not the reverse!
“Confabulation”
Create a story
Rationalize with logic after
Love To Buy
(biology, emotion, the past)
Hate Being Sold To
(logic)
Love To Buy
In homeostasis
In comfort zone
In “control”
Boosted self esteem
Hate Being Sold
No pain or urgency
Convince
Resentment
Humans ♥ Magic Pill’s
Want results yesterday
Sell people what they want
“How To Step By
Step…”
1- Prospect list
2- Ask the following 6 Qu’s…
“What are their biggest
challenges or what
results are they trying to
achieve?”
 Benefits
“What is the magic pill
they think will achieve
this?”
Features & prodct type
“If they could solve this
immediately, how much
would it be worth?”
 Price range
“Where and how are
they looking to solve
this?”
 Marketing & sales
channels
“What are they
considering buying?”
 Competition & value
proposition
“What will happen if
they don’t get this
solved?”
 Motivation & concerns
“How To Take Action …”
1- Decide
2- Talk to people; no surveys
3- Repeat 20+x
4- Common denominators
5- Add to sales pitch
Business Card
= Copy of Questions
Good Luck!
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Unley Business Breakfast Networking Event 24

  1. 1. “How To Launch A New Product Using Effective Market Research…”
  2. 2. I Will Cover 4 Things: 1- Why this is important & why you should listen to me 2- Theory about buying psychology & market research
  3. 3. 3- How to do market research step-by-step 4- Immediate next actions
  4. 4. First = Back to school Last = Techniques
  5. 5. “Why Market Research Is Important…”
  6. 6. You Will Be Able To Determine: Customer problems Features & benefits Customer concerns Offer & price…
  7. 7. …Marketing channels Value proposition Motivation & urgency Product names And much more…
  8. 8. 80/20 Market research is success insurance!
  9. 9. “My Story & Why I’m Qualified To Talk About This…”
  10. 10. Risk-Free Startup Weekend Sydney 2011
  11. 11. Helped Others Startup Weekend Adelaide – 500+ Alumni & x 5 Flinders University Venture Dorm - 100+ Alumni & x 4
  12. 12. Valuations $6,000,000+ (& Revenue)
  13. 13. “Buying Psychology & Market Research Theory…”
  14. 14. Market Research? “Is any organized effort to gather information about customers”
  15. 15. For You Use that information to inform your business, your career & your personal life
  16. 16. Case Study Amazon use a process called “working backwards” for new product creation
  17. 17. “Start with your customer & work back to the minimum set features to satisfy what you try to achieve” – CTO, Werner Vogel
  18. 18. Press release FAQ User manual > Before product creation
  19. 19. Sales Elements Qualifying Credentials Benefits An offer Call to action & So on
  20. 20. Market Research Directly relates to your sales presentation
  21. 21. You Want To: “Enter into the conversation that your prospect is already having in their own mind” – Copywriter, Robert Collier
  22. 22. Humans ♥ Homeostasis = A condition that remains stable & relatively constant
  23. 23. Human Motivation x 2 / pain vs pleasure
  24. 24. Maslow’s Needs Upper = Seeking pleasure Lower = Avoiding pain
  25. 25. Purchasing Logic…
  26. 26. Pain or problem = Not in homeostasis = Outside comfort zone > Anything to return FAST
  27. 27. ^ Motivation to find a solution ^ Willing to talk about it Insight into their worldview
  28. 28. Sales Mirror exact phrases  “This is exactly what I need!”
  29. 29. Human’s ♥ Instant Gratification Want to get back to their comfort zone FAST
  30. 30. They see value Not opportunity cost = Focused on getting back to their comfort zone
  31. 31. MRI Scans Thought > Action > 7 seconds > Realise Not the reverse!
  32. 32. “Confabulation” Create a story Rationalize with logic after
  33. 33. Love To Buy (biology, emotion, the past) Hate Being Sold To (logic)
  34. 34. Love To Buy In homeostasis In comfort zone In “control” Boosted self esteem
  35. 35. Hate Being Sold No pain or urgency Convince Resentment
  36. 36. Humans ♥ Magic Pill’s Want results yesterday Sell people what they want
  37. 37. “How To Step By Step…”
  38. 38. 1- Prospect list 2- Ask the following 6 Qu’s…
  39. 39. “What are their biggest challenges or what results are they trying to achieve?”  Benefits
  40. 40. “What is the magic pill they think will achieve this?” Features & prodct type
  41. 41. “If they could solve this immediately, how much would it be worth?”  Price range
  42. 42. “Where and how are they looking to solve this?”  Marketing & sales channels
  43. 43. “What are they considering buying?”  Competition & value proposition
  44. 44. “What will happen if they don’t get this solved?”  Motivation & concerns
  45. 45. “How To Take Action …”
  46. 46. 1- Decide 2- Talk to people; no surveys 3- Repeat 20+x 4- Common denominators 5- Add to sales pitch
  47. 47. Business Card = Copy of Questions
  48. 48. Good Luck!

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