Zapier's Market Research Doc is a template for you to use to conduct your market research.
Use this document to outline key elements of the upcoming Market Research and keep the information updated as the project progresses. This is a step-by-step guide to analyze and better understand who are your users and how you can serve them.
A Market research needs to follow different stage one after the other. List all the questions you’ll try to answer at every stage.
Stage 1 - What do we know about your users?
In this stage you want to gather information about your users/customers
Who is using your product today?
How do they use your product?
Are there any common patterns amongst them?
Stage 2 - What do we know about your market?
In this stage you need to define and collect data about your TAM.
What’s the size of your product’s TAM?
Which segment (company size, job roles, …) should you address and why?
Who’s using and who’s buying softwares in the companies?
Stage 3 - Who is your target audience?
With the work done in stage 1 and 2 you’ll have a better idea of what your ideal audience look like. The goal is to understand:
Who is your target audience?
How do they buy tech products? What’s their tech budget?
How do they work? What problems are they trying to solve?