EXACTLY how I do market research for new products

It’s an entrepreneur’s worst nightmare: getting obsessed with the “perfect” business idea, painstakingly creating the perfect product… only to launch to the sound of crickets. Avoid dead ends and wasted money by doing market research up front.
In this video, take a peek over GrowthLab CEO Ramit Sethi’s shoulder as he researches a potential business market using Reddit, Buzzfeed, Google, and our Demand Matrix framework. It’s a 30-minute master class to making sure you get the EXACT language and target the EXACT person for your business - exactly how we do it here at GrowthLab and IWT. Covered:
0:43 - The business idea we are researching (from • Business idea teardown... )
1:15 - The Demand Matrix framework, and how to use it to find the right idea
4:34 - How to know where to put your idea on the framework
5:40 - Refining your idea using immersion research
11:25 - Using Amazon reviews, especially the 3-star ones
19:00 - Using Reddit and Quora to source the hopes and dreams of your audience, make sure to weed out the lies though!
24:25 - What to do when you see a recurring theme in your research
25:23 - Talk to real people!
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[@mty1966]

0:26 Who really are the customers? 1:04 A framework to find profitable product 1:28 Demand matrix 5:46 Immersion research - Keywords search Google, Amazon, etc.

[@tj851]

Informative, Insightful and Concise. No wasted second, every bit of it is valuable. Listened through the whole discussion and didn't even realize that it was 30 min long. Good job man. Learned A LOT from it!

[@That1CommentGuy]

Its the Remit way. LOVE this guy!

[@watsonitis]

As a product person and a heavy KZbin tutorial watcher, I have to say this is one of the best explanations I’ve seen for approach. I would love a follow up that showed what to do with the data or explained how much was enough data to move forward on.

[@captaindarkside1704]

I've been trying to understand the market research stage and finally, a great communicator delivers a simple, great explanation. Bravo, you get my sub!

[@duonghuyen94]

not a wasted moment in nearly 30 min with a particular case study and detailed insights. Excellent teaching. I wish you were my uni professor :)

[@jabeesguerra4898]

I was looking for a market research technique, specifically for copywriters. And man, this was fucking goooood! Deserves two to three re-watches just to digest all the ideas!

[@tydoworld4904]

You should be in the jewelry industry bro , you dropped so many gems in this vid 💎

[@KabirUpTalkk]

Hey Im in the jewelry business. What can I do you for?

[@ikechukwungwu8697]

Awwn. Play on words

[@borcsabba]

Damn Ramit, I thought Derek Halpern's YT channel was undeniably the best newcomer for 2018, however, you're killing it with these hyper-practical videos. I can already picture you two hanging out in an underground place, "enjoying" some Habanero Salsa while at the same time weaving your plans for KZbin domination :))) Keep up the awesome work!

[@Nexusbytes_]

This is the kind of videos I come on youtube for, practical step by step not somebody reciting some marketing jargon

[@meeshasaleem]

This is the first video that I am watching from this channel and I honestly wish I had a business teacher like you back in school! Thanks for the excellent insight and knowledge!

[@ejb.8413]

Thank you so much for this - it's exactly what I needed! I have an assessment to submit and our lecturer said we had to do conduct a market analysis and never explained how to do it. Very thorough and explained so much better than the countless articles I've read.

[@opeyemioluwaremi6335]

hi, were you able to put together a market report? are willing to share the resources you used? I'm having a similar issue.

[@BH_Restorative_fitness]

The issue with being an entrepreneur is that you have too many opportunities but do not know where the first step is. But this video has actually helped me. Thanks, man you definitely get my sub

[@shaikameershameer7150]

I have not yet watched the full video( still at demand matrix thing) but I can bet that it's the best informative about product research. Subscribed man. Lots of people don't tell this information. You made my product pricing easy. Thank you. Million a times thank you.

[@MindMoneyBalance]

I LOVE LOVE LOVE this video! I have been looking for a step-by-step guide and this is what I needed. Previously, I was only looking at others in my niches' offerings, this gets to the consumers' needs.

[@kaelo1478]

i'm only at 15:28 minutes and i am already feeling enlightened. Thank you so much.After this video i am streaming your other videos. you heaven sent.

[@aymurray]

I loved this video! This took a vague concept of customer research and made it so simple and easy to apply, Thank you!

[@POWERUPE]

Rewatching this video and taking notes, I think the real secret to getting what one wants in life is the ability to ask the right questions, idea of content: "how to ask the right questions at the right times?" could potentially create a lot of value. This is the first video I watched from you - liked and subscribed. Keep up the great content!

[@georgesmith9178]

I loved this no-BS and to-the-point explanation with just enough examples that well supported the ideas. Awesome job, man.

[@yourstruly126]

Nah, ngl this was the fastest 30mins ever! It didn't feel like it one bit! Best KZbin Video yet. Whaaatt!!!!

[@KeywordResearchSimplified]

*This will be incredibly helpful for my new product development. Thanks for the great insights!*

[@lindenellefson8558]

Does this count as the first person who would want to learn the joy of eating habanero salsa?

[@carlosalanis2677]

It depends.... are you willing to pay for it? haha

[@mockdux]

Nope because you were not searching out habanero salsa education before hearing it on this video. Did Ramit create a market today? maybe. But the demand wasn't there before which was his point. ( I think).

[@bright8642]

very funny

[@jeremiahsnyder9262]

Yeah, I'm down with both making and eating habanero salsa...where do I sign up?

[@KMichaelYo]

I want it.

[@ajitthakur2376]

Dear Growth Lab team, who you have explained Secondary Market research very well. I learn the use of Amazon reviews, Reddit, quora and Google search! I am Thankful.

[@hg2935]

I didn't expect a KZbin video to be this informative and helpful.

[@giuliana6290]

Love the video. Thanks so much for taking time to do this. P.S. I’m a random white person, and I need no class on how to enjoy the unique flavor and massive kick of habanero peppers. I eat that shit for breakfast.

[@motso5121]

Wow this is just what I was looking for! I liked how you went through the steps...

[@LahoriyaLegacy]

Yah I was looking for the same

[@GabrielOliveira-ns4lu]

Hey, I'm from Brazil... And that was even better than our most expensive marketing courses.

[@DjokovicIsOurLordAndSaviour]

Holy crap. I was just trying to get some tips while doing chores for a University assignment but this is straight gold. Thank you Ramit. This is insightful and easy to understand. For sure, you have done your research properly before starting this channel haha.

[@khomikoow5994]

I’m not buying anything, but you did an excellent job explaining and speaking. I really enjoyed the video and got ideas. Thanks 10/10 execution

[@MariaAngelicaMSabas]

You explained it very well, I hope all my professors in my university teach like that.

[@mussabgasmelseed5079]

Product research in totally awesome way immediately i hit subscribe

[@beingsensible4962]

Old video but yet so relevant, thank you ... it helped me get started using a structured way.

[@Islandboyq]

You speak better then Jordan Belford straight line system

[@user-jv2dz6jc5j]

Hey Ramit. What a wonderful video. It is very hard to find out videos like this. Detailed with beautiful explanations. Hats off, mate.

[@merunasg]

Thank you for this excellent video. I thought market research was all about talking to people in the industry and asking key questions. While that approach is good, I have the hardest time finding people willing to take the time to answer those questions in detail. Your approach is better. I haven't seen someone extract as many conclusions in such a cohesive way before. Good job and thank you again.

[@254sandip]

I love the way you explain and confident about yourself and doing great research. I have a business idea that I want to validate and execute I am developer my self and done good work to get basic MVP but need help to get advice on how I can achieve my goal and create successful startup with my idea. Thank you again for spreading positivity around the world.

[@jaykelly1729]

Omg I'm crying lmaoooo !!! I had to pause the video, its an old one so you probably won't see this, but man... I really hope you achieve your dreams lol

[@cyrusjulian187]

Great video. My takeaway based on this video, seems like the best market to go after are people who are like OURSELVES, since we’ll know exactly what pain points, desires, forums, books we read and are a part of

[@orikakuli1]

bro you're funny as hell. i enjoyed this video more than i should've, it was more than a comedy than informative for me

[@TheModernAsianMan]

Really love this video. It's super helpful. Give a good guide to what I need to search for. Only feedback would be that - how do I deal with information that disagrees with what I'm trying to start? Using your example - how will I know if customers don't need such a service? Most of the research you've done here kind of support the business idea and it could be confirmation bias doing the talking... how do we neutralise that? Otherwise, your presentation is superb. Natural presentation, great delivery and super valuable. Love it.

[@Nesggy]

Watch this video from the same channel, this is a video about the business idea they were researching before making this video about the second part. kzbin.info/www/bejne/e2XYqmlnZpaDsKM

[@chiragkhemani553]

ONE OF THE BEST VIDEO ON THE MARKET RESEARCH

[@handicraftsfromindia7111]

I believe primary research can add better quality answers because u can get into one to one conversation

[@jubairtayib8312]

i am really satisfied that you put some value here .... when i will have money iwill buy ur course .... and also i understood how i can make money by providing value

[@bragas85]

Ramit, you are always so thorough! Thank you for putting in the time to create this great content.

[@GrowthLab]

Thank you for watching!

[@paulapoetry]

Great very - useful insights. I love how you analysed specific comments on 5 star, 3 star, 1 star reviews, actually extracting valuable information. Thank you for sharing. 😃👍💝

[@antonl8535]

The greates video! Concise and provide real examples of what you can do to accomplish market research! Thank you host!

[@easternhealingarts33]

~~~you are very gifted in as a thought leader to perceive this as something you need to convey and I am glad that I came across your video so that I could find your channel and watch your other videos I am happy that your other videos are smaller there are like 3 minute videos 10 minute videos and 30 minute videos so I know what I'm sending my time to do I appreciate the encouragement and I'm giving a lot of thought it's good to kind of have somebody to go along with the process as I meditate on this for the next week or two and of course try out these different techniques~~~

[@ajeethsuryash5123]

Nicely presented. Love the energy & reactions of the presenter.

[@sabastinemarychisom6275]

Thank you, that is all I can say, you have done extremely well sir

[@ItsHannaLuna]

Insanely valuable video and an amazing teacher. Thank you for sharing this!

[@oluwaseunladeinde410]

This is very helpful. I have often struggled with getting the best marketing research approach. Read too many lengthy articles and watched many KZbin videos that left me more confused. But this is really good. Now I can place a finger on what I want to do and how to go about it. Thanks for sharing. Would be great to know what steps to take with the data collected. A followup video maybe.

[@dr.udouble7962]

UNDERSTOOD. Question? What questions do I have to research in order to know if my product will be profitable or make $? Thanks for your work.

[@HealthilyBodied]

Lol habanero salsa eating ! You’re on to something!!

[@ammz4389]

Your fucking good at explaining man and really helpful appreciate your time man , the way of your explanation is on point and the way you give the speech is very awesome that u won’t even lose focus while listening to you that the thirty mins went past quick 😂👌🏽

[@backtobasics3276]

You are a gem. 😊thank you.

[@briannawatkins6716]

Soooooooo am I the only one who liked the video once I heard him explain the Labor of Love? I am DYING LAUGHING lol

[@mariposas22]

🤣🤣🤣🤣🤣same

[@anandlakhani6935]

Very helpful. Indeed i was looking for information which helps me to understand current market of any product.

[@Lin-ts9gi]

Great content, very methodical and solid approach, thanks Ramit!

[@Mr.Reddito]

wow seriously the video is amazing

[@rolandogarcia3088]

I am so happy I clicked on this.

[@teavoilalooseleafon_the_go3682]

I have learned a lot from this video ,lots of helpful tips.

[@JoeProvence]

Blog Post About How to Conduct Market Research: www.sltcreative.com/how-to-conduct-market-research-a-comprehensive-guide

[@christiangab1227]

Thank you for sharing such a helpful video for market researchers you are truly wonderful ^^

[@Davidljim]

This is a great analysis. Thanks for the insights.

[@DanBullmanPhotography]

This is pure gold

[@kayalvizhi8174]

Great video

[@astrosathish89]

Wow a great insight of how to search a demand. Thank you..

[@Ashnique777]

Thank you this was very helpful even in 2020!

[@KabirUpTalkk]

Watching this today and so true. Best customers are burnt customers!

[@tedoymisojos]

This was actually helpful. I'm surprised. Thanks man.

[@ScribblebytesWorldwide]

Can I please ask you to take part in my research?

[@palakagrawal1523]

Woww.. that's a really good content .Very Informative.

[@Freedom1611]

Palak Agrawal Agreeeeed!!!

[@Broughtvulture]

Great video, so much quality in what your saying!

[@poojabansal6401]

its really good.but what of your idea is itself new for industry and no competitor.how can i reaserch whether public is willing to avail that service or not

[@rutujakatekar5430]

This helped me ALOT. THANK YOU!

[@Duriel1000]

Good video bro. I have just spent an hour or so watching other videos n the same topic. Yours was the best. I knew you were on track in the first minute or two when you put up the 4 quadrants. Def want to avoid the labor of love and look for the golden goose.

[@Micro_Learning]

Good information. Thank you.

[@jayjayf9699]

Should I use google trends for new product research?

[@alissvietlikova4549]

What about B2B ideas? Is there a way to conduct similar research(what works what doesn’t) and also estimate the market which is sometimes the hardest part to build some predictions?

[@u40fit33]

Thank you so much for sharing this.

[@shayewitman9607]

I'm here, I'm white, and I'm ready to LEARN! Lol srsly tho, I think learning how to consume habanero salsa without sobbing would win me alot of cred with my Mexican co-workers

[@mynextmoveisalwaysmybestmove]

huntyyyy... When you got to shaun T's part, I had to pause the video and go get the product. Somebody help😩

[@katyastyles]

wow, thanks for all this detailed info, really useful!

[@macaulayshaw3834]

How do you actually find the problems a person or company could be facing? It seems you a;ready no the problem and searched for it on Reddit

[@wilhemj.loboguzman1793]

a well made video, really good information presented here

[@lahiruparanavithana35]

Thank you for this video! Learn a lot from this

[@MaskedMageYT]

what a great video

[@chiquitapolk372]

Thank you

[@mohammedislam413]

Great stuff!! Do you have any idea, where and how I can search for distributors online (other than Yelp and LinkedIn)? Any specific platform suggestions? TIA

[@nchedoakabogu234]

i love this....thanks dear pls can i get your other series topic on market research

[@RodNavarroR]

Amazing video! all the process in a nutshell!

[@misskaykayRSA]

This was veryyyy useful

[@MondoLeStraka]

WOW! Excellent material.

[@MrKaugaban]

May The God bless you brother.. Tqvm

[@CryptoWizards]

This was incredibly useful

[@JoseMartinez-fg2xp]

“Steer clear of competition enjoy a consistent winning streak “ - unknown

[@UnBr3aKaB1e88]

Awesome information Ramit, thank you!

[@gachi_school]

Thats pure gold.

[@FANTAFRUITYTWIST]

Can you apply that first framework to a service? thanks

[@hiicaliber]

GOLD!!!

[@selimcekir8621]

hi, i'm first year business student and i need to make a market research for tea in germany. Can someone help me? i'm lost.

[@kukina181]

Awesome video. Thank you!