Yes, it can certainly be intimidating to make the decision to create an information product that you’re not sure will sell.
Fortunately, market research can prevent this from happening. As a business owner it’s important that you take advantage of market research, and be willing to invest your time, and possibly money, into doing it right.
It’s the perfect way for you to learn about your customers and understand what they buy and why.
The flip side is that if you don’t do market research, your may waste your time and financial resources on something that could have been avoided.
As far as the cost that is associated with market research, it really depends on what type of research you plan to do in order to answer the questions that you have.
So it can be as inexpensive or as costly as you need it to be.
1. Surveys: This a widely used form of conducting market research for online products
because it is inexpensive (or free), and it can be sent out to your customers through email.
If you opt to do a survey, make sure you keep the questions simple and don’t list more than 10 questions.
Otherwise, you run the risk of overwhelming them and taking up too much of their time.
By keeping it short and sweet, your response rate is likely to be much better.
2. Online Research: By using a keyword research tool like wordtracker.com, you can find out how many people are looking for information on your topic.
So if you were to type in “silk floral arrangements,” it will tell you exactly how many people are typing that keyword into the search engines.
If a lot of people are looking for information on your topic, then it may be worth creating an information product based on it.
3. Experiment: Test your information product by giving out freebies.
You can do this in the form of a free small report or e-course to test the waters before you create a large information product on your topic.
Doing so will give you an idea of how many people are downloading your report or signing up for your free e-course.
If it turns out to be wildly popular, then an in-depth information product will likely prove to be just as successful.
4. Tracking: Software programs can tell you where your customers are going on your website, what they are doing, what they buy, and how long they stay.
One way to use this method is to set up a category on your site with some information on your topic, and use your software program to find out how many people are going to that section and how long they are staying there.
It will give you an idea of how much of your traffic is interested in that topic. Thank you for reading. Have a nice day.
Fortunately, market research can prevent this from happening. As a business owner it’s important that you take advantage of market research, and be willing to invest your time, and possibly money, into doing it right.
It’s the perfect way for you to learn about your customers and understand what they buy and why.
The flip side is that if you don’t do market research, your may waste your time and financial resources on something that could have been avoided.
As far as the cost that is associated with market research, it really depends on what type of research you plan to do in order to answer the questions that you have.
So it can be as inexpensive or as costly as you need it to be.
1. Surveys: This a widely used form of conducting market research for online products
because it is inexpensive (or free), and it can be sent out to your customers through email.
If you opt to do a survey, make sure you keep the questions simple and don’t list more than 10 questions.
Otherwise, you run the risk of overwhelming them and taking up too much of their time.
By keeping it short and sweet, your response rate is likely to be much better.
2. Online Research: By using a keyword research tool like wordtracker.com, you can find out how many people are looking for information on your topic.
So if you were to type in “silk floral arrangements,” it will tell you exactly how many people are typing that keyword into the search engines.
If a lot of people are looking for information on your topic, then it may be worth creating an information product based on it.
3. Experiment: Test your information product by giving out freebies.
You can do this in the form of a free small report or e-course to test the waters before you create a large information product on your topic.
Doing so will give you an idea of how many people are downloading your report or signing up for your free e-course.
If it turns out to be wildly popular, then an in-depth information product will likely prove to be just as successful.
4. Tracking: Software programs can tell you where your customers are going on your website, what they are doing, what they buy, and how long they stay.
One way to use this method is to set up a category on your site with some information on your topic, and use your software program to find out how many people are going to that section and how long they are staying there.
It will give you an idea of how much of your traffic is interested in that topic. Thank you for reading. Have a nice day.
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