Market Research for New Client Acquisition
Project scope
Categories
Market research Competitive analysis Customer segmentation Lead generation Marketing strategySkills
sales process competitive analysis market research demography lead generation consulting customer acquisition management persona development pricing strategies operationsThe goal of this project is to help Truesdale and Associates, LLC identify and prioritize new client acquisition opportunities. Learners will conduct market research to uncover underserved segments within the beauty and wellness industry, develop detailed customer profiles, and provide strategic recommendations that can be used to increase outreach and client conversions.
Tasks & Activities Learners Will Engage In:
(1) Industry Exploration
- Investigate trends and growth areas in the beauty industry, with emphasis on independent stylists, small product brands, and boutique salon owners.
- Identify emerging needs in operations, digital tools, and consulting services.
(2) Competitive Analysis
- Analyze similar consulting firms or service providers.
- Note how competitors position themselves, who they serve, and their pricing strategies.
(3) Client Persona Development
- Define 2–3 Ideal Customer Profiles (ICPs) based on research.
- Include demographic data, business stage, service needs, and common challenges.
(4) Lead Source Identification
- Identify online spaces and directories where prospective clients are active (e.g., Instagram, salon networks, vendor marketplaces, licensing boards).
- Provide examples of potential leads or business categories.
(5) Opportunity Mapping
- Suggest strategic target segments, including rationale and recommended outreach strategies for each.
Deliverables:
(1) Market Research Report
- A 10–15 page PDF detailing findings on industry trends, competitor analysis, and growth opportunities.
(2) Ideal Customer Profiles
- 2–3 profiles describing key target client types, with supporting data and descriptions of their unique needs.
(3) Lead Source List
- Spreadsheet of 30+ businesses, individuals, or platforms (categorized by potential client type) that TALLC can target for outreach.
(4) Summary Slide Deck
- A 5–7 slide presentation summarizing research insights and strategic recommendations, suitable for internal review or presentation.
Providing specialized, in-depth knowledge and general industry insights for a comprehensive understanding.
Scheduled check-ins to discuss progress, address challenges, and provide feedback.
Supported causes
The global challenges this project addresses, aligning with the United Nations Sustainable Development Goals (SDGs). Learn more about all 17 SDGs here.
About the company
Truesdale and Associates, LLC is a boutique consulting firm built for beauty industry professionals who are ready to grow smarter, not just bigger.
We specialize in goal-focused planning, operations, and management services that turn chaos into clarity—for salon owners, product creators, educators, and beauty entrepreneurs who want real results.
At Truesdale and Associates, we believe that visionary entrepreneurs deserve more than inspiration—they need structure, strategy, and support. Our mission is to help small businesses and solopreneurs bring their ideas to life by providing the kind of high-level operational guidance, digital infrastructure, and growth planning that’s often out of financial reach. We turn big ideas into sustainable business models, offering accessible solutions that empower our clients to build with clarity, confidence, and long-term impact.