Read time: 4 minutes

Greet from the deep,

It’s Ole, the AI Solopreneur here.

🐟 Today, in the first edition of the Saturday Submarine Dive, I’ll share how I’ve used ChatGPT and AgentGPT to do market analysis for my AI startup.

But first…

I wanted to take a second to appreciate that our community got this tweet to 420 retweets on 4/20. How epic is that?

(gimme 69 shares of this email and I’m transcending into another dimension)

Let’s dive in: 🤿

Market research used to be tedious…

Back in my early solopreneur days, I spent waaay too much time researching the market.

To get to know my customer and market, I searched subreddits, blog articles, forums, and tweets by my target customer.

🧩 It kinda felt like putting a puzzle together.

Getting that first feeling for a market took me hours, as none of the sources gave me a big-picture overview, but only small puzzle pieces of information.

And I had to manually put all of the sources into a big Excel sheet for future reference.

Ugh…

Well, luckily that’s in the past.

Today, I can spend all those hours doing much more productive work, like Twitter doomscrolling, because today…

…I do market research in less than 15 minutes.

How?

Using these 3 methods:

1) How to use ChatGPT to understand your customer’s desires and frustrations

When you want to dive even deeper into a market…

…you need even more specific information about your customer.

Like which frustrations they face.

Or what desires they have.

🩲 Or which underpants their wear. Or not.

Use this prompt to get a bigger picture overview of your target market:

“I want you to do customer research for me.

Tell me 10 frustrations, 10 wants, 10 dreams, and 10 fears that [TARGET PERSON] experience related to [YOUR OFFER, LIKE “MARKETING”, “BRANDING”, “SALES”, or “OPERATIONS ] exclusively.

The frustrations and wants should come in pairs and be opposites.

The dreams and fears should come in pairs and be opposites.

For example, if the frustration is "Struggles to attract and retain customers due to the perceived complexity and technical nature of AI solutions", the paired want would be "attracts and retains many customers because they've explained their complex product in a simple-to-understand way"

Include results that are specific to the industry and business model. Be as specific as you can.

Format the output of the 10 frustrations, 10 wants, 10 dreams, and 10 fears in a table.”

(Credit @nilsliedlich)

Your output will look something like this:

You can use the output to understand your customer better, and as a nice side benefit, you also have 40 things you can write content about for your audience.

Cool, right?

2) How to use AgentGPT to determine market demand for your business

Because it can operate well without much direction, AgentGPT/AutoGPT is for market research like a bar date is for getting to know a person:

🍹It doesn’t give you the big picture, but it’s great for getting a first feeling.

Paste this prompt into the “goal” section of AgentGPT if you consider entering a new market:

“I am considering starting a business that [WHAT YOU DO, SPECIFICALLY]. However, I'm not familiar with the market. Provide me with an analysis of the current market situation and tell me on a scale from 1-10 how great my business idea is based on market demand, saturation, and my idea's level of differentiation compared to the existing alternatives.”

Link to AgentGPT

Here’s an example output, where I asked AgentGPT to rate the market for email marketing services for AI SaaS founders:

This provides you with useful information to get started in a new market. It increases decision-making speed and hopefully makes you avoid ideas that don’t offer much opportunity.

3) How to use ChatGPT to uncover decision-making biases of your customer

Businesses often overlook how their target customers make decisions.

The problem:

💎 This makes them miss out on the richest market treasures…

Because understanding how your prospects make decisions lets you tailor your message to get more clients.

This prompt helps you identify your customers’ decision-making biases and understand how you can use them to your advantage:

“I want you to do customer research for me.

Find out if [TARGET ROLE (like “CEOs”] of [NICHE COMPANIES] have any built-in-biases when they make decisions. Explain these biases to me. Then, suggest 5 ways for me to pitch my offer to this target audience that take advantage of this decision-making bias.

I offer [WHAT YOU OFFER, BE SPECIFIC]”

Here’s what the output can look like:

In this example, it’ll help you to sell more services to CEOs than Jorden Belfort sold shitty penny stocks to uneducated investors.

It’s an amazing way to find impactful ideas for negotiations, marketing or sales.

Wrapping up today’s edition

Hope this helps you as a fellow solopreneur.

I’ll spend the rest of the weekend vibing to some AI Drake (check it out, it SLAPS)

See you next Wednesday when you can expect more prompts, more tools, and more memes.

Saturday I’ll be back with another deep dive.

Best,

Ole