Startup Success Series: Market Analysis

The Startup Success Series is designed to provide insight and education on the topics that matter most to the founder community right now.


Each week Startup Victoria hosts a 1-hour webinar for the community, focussing on a specific topic. There’s only so much we can squeeze into 60 minutes, so following each webinar you can access further resources in our Startup Success Series articles.


The Startup Success Series is supported by LaunchVic.

LaunchVic is Victoria’s startup development agency. LaunchVic invests in organisations and projects that empower entrepreneurs to scale innovative companies and deliver new industry benefits to the Victorian economy.


Knowing your market is extremely important to reaching your goal of serving your customers and growing your business. You might know who your ideal customer is, but to truly stand out from other ventures you need to know everything about them – how to reach them; the challenges they face and what they want from you. The first step to developing this knowledge is by conducting a target market analysis.

A market analysis is an assessment of any given market that includes both qualitative and quantitative research. It not only helps you understand both your audience and your competition better, it also reassures investors of the position of your startup. It’s simply must-have knowledge.

That’s why for this edition of the Startup Success Series, we spoke with an expert panel about market analysis and everything that comes with it. We welcomed Investment Manager @ Rampersand Chris Quirk; Co-Founder & Director @ NOW Hannah Gee and Founder @ Sked Social & Galileo Ventures Hugh Stephens.


Virtual Event Recording

About: Watch the webinar recording below to learn more about our panellists, and their advice on market analysis followed by an audience Q&A.

Timestamps

1:14 – Introductions
7:53 – What is a market analysis?
20:25 – Why is a market analysis important to do?
37:11 – Resources for desk work
42:00 – Ecosystem members on market analysis
44:28 – Audience Q&A


Now Pre-Accelerator

Check out Hannah Gee’s pre-accelerator for Victorian tech startups – Now. It’s an unforgettable jargon-free experience to kick start your idea into action – no matter where you are.

Applications are open now – click here to learn more!


Further Reading:

We’ve collated online blogs and articles on customer discovery: