A mistake many people starting with ecommerce and Facebook Ads do, is that they jump headfirst to creating a Shopify store or launching their first Facebook campaign without knowing who they are talking to.

That’s why the initial target market research and Facebook Ads research are essential if you want to succeed with your business. And who doesn’t, right?

I could list you tens of examples of product and business failures simply because they haven’t done enough market research from the outset. You need to understand your customers and your competitors before you start talking to them.

How Does The Simple Market Research Look Like?

Here’s a short overview of what you need to do before you start advertising on Facebook:

  1. Read discussions and forums on your topic
  2. Ask people who are closest to your potential customers
  3. Search through your competitors Facebook ads

Starting a new store and launching Facebook Ads without having proper research done is worse than playing roulette. Roulette at least gives you a chance.

Step by Step Process of Target Market Research

Let’s say we’re selling AirPods. It’s a saturated market, and many stores have been selling it. Especially the fake ones under the weird Chinese names.

The first step is very simple – you go on Google and ask him:

“What do you think about… (your product)”

“(your product) discussion”

“(your product) forum”

What you think about AirPods

Hundreds and thousands of results will pop up. You start by reading forums and real people’s opinions, not tech reviews or Youtubers unboxing the product. Those are not your customers.

I usually start on Google, but then move to Quora, which is my go-to place for market research – hundreds of people write their honest opinions on products like yours.

It’s unbelievable how easy it is to do market research these days.

Quora Target Market Research

This is one of the answers I found on Quora – very detailed and gives us great insight into the customer’s mind.

You should keep reading what people say about your product for at least an hour. It will help you to think and see things like your customer.

Now you need to make a list of PROS and CONS of your product and decide what approach you want to take with your marketing.

  • Who do you target?
  • What’s your offer?
  • How do you solve what your customer is afraid of when buying your product?

My list when selling AirPods could look like this:

PROS:

  • Small size
  • Long battery life
  • Sounds quality

CONS:

  • Overpriced
  • Easy to lose

Having the PROS and CONS list will help you write your product page and ad copy.

In your ad copy, you always want to pitch:

  1. Product benefits “Listen to your music without being attached to a cable.”
  2. Product features – “Small in size, long in battery life.”
  3. Use CONS to your advantage – “You won’t lose money, nor the AirPods.”

Difference Between Product Features And Benefits

Here’s an example of product benefits vs. features when selling blankets:

Benefits: This blanket will keep you warm on cold nights while watching stars rising in the clear dark sky.

Features: Soft and cushy blanket.

After doing market research, you’ll know how to speak to customer’s pain points, which will allow you to run profitable Facebook Ads!

Having the PROS and CONS list will help you write your product page and ad copy.

Researching Your Target Audience

When doing Facebook audience research, you need to go beyond regular thinking.

What’s the first idea that comes to your mind when thinking about advertising AirPods? People interested in Apple!

Think about it. Everyone selling AirPods will target people interested in Apple because it’s common sense and the first thing that comes to your mind.

You need to come with a completely different approach and market to sell to.

Talking about AirPods, you may want to target people interested in Running and sell them the idea of listening to their favorite music completely wirelessly. Forget the annoying cable!

Facebook Audience Research Step by Step

In the initial phase, I don’t do too much Facebook marketing research. I use Facebook’s audience research tool called Audience Insights.

This part is a piece of cake. All you need to do is select the countries you want to target and type in the interests you want to target on Facebook.

Facebook Audience Insights

The first section shows you the basic demographic data of your target audience.

The second section called “Page Likes” will show you what other Facebook pages your audience is interested in. It will also give you plenty of ideas on interests that you can leverage later on.

Researching Your Competition

After you’ve finished the Facebook market research, you may want to see how your competitors approach Facebook Ads.

To do that we’ll use another Facebook tool called Ads Library.

NOTE: If you are using AdBlock, you need to turn it off. Otherwise, you won’t see any active ads.

Facebook Ads Library

You start by typing the Facebook page name of your competitor. In our case, we’ll be looking up the ads Amazon runs.

Facebook Ads Library

Make sure you filter All Countries because if you live outside the countries they advertise in, you might not see their ads.

Facebook Ads Library

This Facebook audience research tool is so cool. It will show you the platforms they run certain ads on. When you click on “See Ad Details” you will see all the creatives they use for that ad.

Facebook Ads Library

That’s all you need to know about your market and competitors research. I highly recommend you spend at least an hour going through this and absorbing everything you could leverage in your ads.

Most people underestimate the power of research, which is why you can’t find their stores a month later. Don’t be one of them.