33 | Market Research 101: How to Create the Digital Product Your Audience Actually Wants

How can you know if your digital product is going to sell? Several factors can help determine ahead of time whether your sales funnel leads to conversions... or crickets. And it’s all dependent on one critical best practice: market research. Have you asked your customers what they want? How do you know for sure that your product is positioned to solve their problem? Are you certain of what their problem is in the first place? In this episode of The Inspired Business Podcast, you’ll learn what it takes to create the right product, for the right audience, for the right reasons, in the right way.
Highlights:

• Surveys are not enough
• What is your customer’s actual problem (vs. your presumption)?
• Create a product that either serves your existing audience, or that’s designed to break into a new audience... but don’t get the two confused
• What is the customer’s motivation for purchasing your product?
• The wrong way to sell is to try to convince somebody to buy your product. The right way is to speak to your audience using their words, not yours.
• Market research steps:
  • Schedule 5 to 10 Zoom calls, hit record
  • Upload to Temi.com or Rev.com
  • Print and highlight transcriptions
  • Use the customer’s language in your marketing copy
• Questions to ask:
  • What frustrates you most about ______ [your topic]? Dive deep into the fears and feelings beneath the answer.
  • What intimidates you or stresses you out about ______ [your topic]?
  • If you had a solution to _______, how would that change things for you?
  • If you could talk to an expert on ________ [your topic], what questions would you ask?
  • Finish this statement: If I had total control over _______, then my problems with [your topic] would be solved.

Resources mentioned in this episode:
Becky’s books
The Inspired Business Guide Bundle
The Funnel Club
Profitable Digital Products Method
Temi.com
Rev.com

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