The Inspired Business Podcast - 33 | Market Research 101: How to Create the Digital Product Your Audience Actually Wants

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

04/24/23 • 18 min

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

Are you a digital marketing genius? Take our quiz to find out!
Plus watch our FREE masterclass: How to Create and Sell Digital Products Without Feeling Stupid, Salesy, or Sacrilegious

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

Previous Episode

32 | What Separates Good from Great as a Content Creator or Coach

Did you know? There’s a difference between a good content creator (or “contentpreneur” as I like to call us) and a great one. Lots of people can write or speak or host a podcast and share their thoughts and products with the marketplace. But not everyone does it truly well.
Do you know what trips the threshold between good and great? There’s just one key factor that makes a world of difference, and it’s something everyone can do, and should do, if excellence is the goal.
In today’s episode of The Inspired Business podcast, I’m unveiling the one key ingredient necessary to becoming the best content creator and digital services provider you can be.
Highlights:

Good creators and coaches teach; great ones keep learning
How to find good coaching: my top three recommendations
A shout out for the FOCUS Retreat
Why aim for great in the first place?

Resources mentioned in this episode:
The Funnel Club
Episode 30: How to Stay Motivated to Make Progress in Your Online Business
The FOCUS Retreat
Recommended courses, groups, or resources for continued learning:
Facebook Ads Intensive
FlourishWriters
Email Marketing Fairy

Next Episode

34 | Conversion Rates: What Should You Aim for When Selling Digital Products Online?

Conversion rate, click-through-rate, open rate... lions and tigers and bears, oh my! What’s the deal with all these digital marketing stats? What’s considered good or bad, and what’s the right benchmark for you and your business? In this episode, we’re talking about the metrics you need to know and how to analyze the data so that you can optimize your digital sales funnel for the best possible results. In plain English, that means know what’s working and what’s not, so you can sell more products and change more lives with your content.
Highlights: