Tags – Actual State
Is your business idea worthy? More importantly, how do you go about finding whether a product or service will work or not?
Obviously, the first part of the journey is your own interest. Without an interest in the product or service, you are less likely to be enthusiastic about the whole process. Building a business without a genuine interest can be a real drag.
But, you are too close to the business, you need to get an outsiders opinion.
So, what do you end up doing?
Gathering Real Life Data
You can ask your close friends and family, and even go around and collect some market data. But, there are still problems with the process.
There is no way of telling whether the information you are collecting is truthful or not. Your friends and family might just be supportive rather than believing in the idea. They may simply believe in you, rather than the product, which is sweet but in no way ideal.
In some bad cases, you can’t even be sure that people are listening. They might have made up their mind halfway through you talking. How can they make a decision without understanding the whole thing?
In other cases, you may fall the victim of interpretation. People may simply not understand what you are trying to do and you may end up basing your whole idea on a semi-understood decision.
Or, the people you are talking to may have their own agendas. They might want to be in your good books or be influenced by the environment.
In simple terms, there is no way of telling that the data you are collecting is useful. But, there are better sources of data.
Digital data is a thing of beauty.
In real life, people can construct a whole web of fakeness, but the real self comes out online. And, digital data is amazing because of that.
So, if data proves that there is a market for your idea, you are good to go.
In fact, even if there is no direct demand for your product or service, if you are able to place it into another existing market, you have still hit gold. (We suggest placing your business in an existing market before diversifying and making your own market).
From this point on, it’s about building upon the digital data, constructing the right strategy, and placing yourself in the mix of things.
In short, by understanding the actual state, you can drive towards the desired state with the right additions along the way.
At Axies Digital, not only we have access to people’s search patterns and hence data, we also specialise in placing businesses in the right demand sections on searches through search engine optimisation. Moreover, our SEO services are based on digital psychology, taking business strategy to the next level, digging deeper into how your potential clients think and behave.
Want to learn more? Then get in touch today.