Do your market research in minutes, not hours.

Why you should use Perplexity AI to get better market insights

How much time do you spend on Market Research these days?

Everyone agrees that understanding your market is crucial for Product Development and Product Marketing.

Particularly when you start a new position or decide to jump into a market that is new to you.

But, let’s face it : it’s a tedious and time-consuming task. And it’s hard to find the time to do it properly.

🕰️ The old way:

1. Go to Google and search for Market Reports on your industry

2. Read reports / articles.

3. Take notes of Statistics, market forecasts.

4. Not forget to list your sources.

5. Search for competitors online and check each website for insights.

Thankfully, now with AI, with the right tools, you can get great market insights in a few minutes.

⚡️ The new way:

1. Go to Perplexity.ai

2. Copy/Paste the “Market Research Prompt” from Elevaite

3. Get a comprehensive draft and detailed insights instantly.

Let’s see how it is done.

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1. Choose the right tool ⚒️

To conduct proper research, you want access to accurate, reliable and up to date data.

❌ AI assistants like ChatGPT are not suited for this :

• they can easily “hallucinate” - it means that they can provide you with made up statistics and information.

• Their knowledge base is limited in time (only up to December 2021 for ChatGPT 3.5)

• They often omit the source URL, forcing you to search online.

You will get results, but most likely something very generic, outdated and often inaccurate

✅ Enter the solution : Perplexity.ai

• It’s a new kind of search engine powered by AI.

• It can find relevant and extensive information online from a text prompt.

• It cites every source and shares the URL of each source.

• It suggests follow up questions to dig deeper into your search.

🎁  Good news : You have access to 5 Pro AI queries for free / day

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2. Use the Right Prompt 🤓

As Lucas explained last week, the quality of your output will be determined by the quality of your prompt.
(That’s why we built a curated prompt library that you will find here).

Now let’s see how Perplexity can help me with a real-life example.
When I joined lemlist, I had to learn about the Sales automation market. We’ll use this as our example.

Your input

Here is the input section of our prompt :

Provide a comprehensive market overview for the
[Sector. Ex: "fintech industry."]
in [Region. Ex: "Europe."]
focusing on [Key Trends. Ex: mobile payments, blockchain technology.].

In our example it becomes :

Provide a comprehensive market overview for the
Sales automation Industry
Worldwide
focusing on Email outreach.

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The instructions