How to do market research for a startup idea?
It is always good to validate an idea or a premise, or even find out what your initial audience will feel for the solution/product you're building.
Unfortunately, it is not currently feasible for independent researchers or indie hackers or bootstrapped businesses to execute this through a market research company due to the cost involved. Don't worry about it. We will show you how fast market research can be carried out without spending money.
Here is our guide on how to do free market research for a startup idea?
Survey Tool & Design
- Select a secure survey tool like BlockSurvey. Make sure you only can see the collected data and not the platform provider or anyone. Protect your ideas.
- Make the design creative. Use images for the background. Strive to make it appealing.
- Make survey conversational in nature. Ask questions that are like conversations or talking to the respondents.
- Don't collect demography or personal information if it is not needed for the research.
- Know when to use open and close-ended questions. Let the choice be intentional.
- Keep the open-ended questions at the end. It reduces dropouts.
- Use simple grammar and language.
- Keep the survey shorter. ~ 2 mins
- Please convey the research/study purpose. Add research topics/areas and purpose as part of the introduction in the survey.
- Add technique/request for referrals on completion of the survey.
Distribution and Recruiting Audience
- Test a survey with a friend or colleague to test whether it is good before distribution.
- Firstly, distribute the survey through your own network - friends, family, and colleagues. Remember to have a good introduction message. Start to build an email list, phone contacts list, and social media list.
- Send a warm-up email if it is your email list and you are going to follow with a survey. Seek permission. It helps you go authentic.
- Distribute the survey link through emails, messengers like WhatsApp, Telegram and post on your social media walls. Also, think about keeping the survey link in WhatsApp status / as an Instagram story. Use appropriate hashtags. #survey #surveys #marketresearch #research
- Send reminders/follow-ups for conversion on day 2.
- Secondly, distribute through blogs on various platforms like Medium, IndieHackers, Substack. etc. Write a blog post describing the research and add the survey link at the end. Ask for participation and how it could be a big help.
- Thirdly, distribute on survey groups. Here is the list of groups from each platform.
- Website for free participants. https://www.surveycircle.com/en, https://surveyswap.io/, https://www.callforparticipants.com/
- Reddit r/SampleSize, r/TakeMySurvey
- Facebook https://www.facebook.com/groups/surveysharing/, https://www.facebook.com/groups/698363963614551, https://www.facebook.com/groups/1376853029260212/, https://www.facebook.com/groups/1255012211233315/
- LinkedIn https://www.linkedin.com/groups/12056432/
- Lastly, if you can, try this as well. Post QR codes of the surveys on walls or boards, or elevators in your apartment or community. Also, you can take inputs on a tablet while meeting people face to face.
We've seen that following the above procedure has helped to get 100 + answers a number of times, and we're sure that it will help you as well. Well, happy surveying and researching!