If there’s one thing that holds entrepreneurs back from launching their business, it’s a lack of confidence in their products. Sure, you think that a new course or product is a great idea, but how do you know it will sell?
Imagine spending weeks or even months of time and money into a product or service only to discover it’s not what your audience wants or needs. How disheartening would that be?
You don’t have to leave it to chance, though. There are plenty of ways to test your idea before spending the time, energy and money!
Ready for it?
Hmm. Say what?? Yes. Just ask.
There has never been a time in history where people have been more social or accessible. Hence, dozens of social media platforms that are right at your fingertips.
This is the simplest way to get a feel for what your audience needs and wants. Simply ask them via social media. Create a survey on Facebook, create a post on Instagram, ask in a live video on Periscope or Snapchat. So what exactly should you ask?
- What they’re struggling with
- What do they want
- Their preferred learning method (video, text, audio, etc.)
- What they feel the training or product is worth (what would they pay)
These things will tell you everything you need to know to create something that’s practically guaranteed to sell.
Listen to Their Complaints
Join several Facebook Groups that have your ideal clients, pay attention to what they’re asking about the most. Use the search tool at the top of group page and search for words like, “struggle” “problem” “help” “how to” You will see numerous posts that come up and these are the things they need help with. Or if you have your own group, pay attention to what your audience is saying. If you’re a business coach and your Facebook group is filled with questions about how to use Instagram for their business then clearly there is a need for some training in that area.
Study Your Competition
You should have a list of what I call friendly competitors because there is enough room for all of us to succeed. You should be reading their blogs and emails, and even checking out their Facebook groups. I would take it a step further, and say you should purchase some of their products or services so you can see how things are packaged or delivered, what you can do differently, what is good about what they offer and what can they improve. This is a great way to gain insight into what they’re doing—not to copy them, but to discover what’s working, what’s not and what you can do differently, something that they are not doing or offering.
Creating a product or service that is not viable is a huge waste of your time and energy. It can also be a blow to your ego and confidence if it doesn’t sell.
Instead, pay attention to what your audience is asking for, find out what they’re willing to pay, and delve into your friendly competitor’s offers. The information you gain from these three activities alone will give you incredible insight into your audience and what they want and need. It will also make it so much easier for you to create your own successful products or services that sell with ease.