Before You Launch Your Product – Learn All You Can About Your Market

Imagine you’re a Harley Davidson owner and lover who’s thinking of using Product Launch Formula to release a range of specialist products targeted to other Harley owners and enthusiasts.

You’ve built a list of people who are Harley Davidson riders and enthusiasts, but prior to your launch, you’d been sending emails with content and offers for anything other than Harley stuff.

You can probably imagine what sort of results you’d end up with…

You might be a chuckling a little and thinking that you’d never make such a stupid mistake. And yet at some level at least, you might be making this mistake right now. That is, you might be sending out content and offers without really understanding who the people in your market are and what they want.

Let’s look at an even more common example, one that I’ve seen on several occasions…

Every so often an email will turn up from an internet marketer that starts out with “Hey, Dude.”

Obviously the marketer who does this is excluding a whole lot of people from reading his message, including:

  • Men over the age of about 30
  • Professionals of any age who don’t like being referred to as “dude.”
  • Women 🙂

Of course “Hey, Dude” might be perfectly fine if the email list is comprised of young men age 15-25 who like to ride surfboards or skateboards. But when you’re email list is full of supposedly professional marketers, you’re just driving down the response rate you’re going to get.

So here’s the point of all of this…

If you want people on your email list who read your messages, click through to your content and offers, and who buy the stuff you recommend, then you better learn as much as you can about those people your.

Some of the demographic and psychographics data you want to find out are:

  • Are they male or female
  • Their age range
  • Where they live
  • Their highest education level
  • The sort of jobs and careers they have
  • How much money they earn
  • What sort of words and jargon they use when they talk to each other
  • What they like to do with their free time
  • When and were they go on vacation
  • How much money they spend on their hobbies
  • What their problems and frustrations are
  • What makes them nervous or afraid
  • What motivates and inspires them
  • What their goals and dreams are
  • What sort of products or services they’ve tried to solve their problems
  • What sort of products and services they are already buying in your market

Once you know these things, you’ll be able to create an accurate Customer Avatar or “profile” of your ideal customers, and send them content that really connects with speaks directly to them. And you’ll be able to send out promotions for products and services that they’re fairly certain to buy.

So how do you figure out all this stuff about your market?

First off, using the Harley Davidson market as an example, you can survey people to learn more about their needs, wants and problems. One great way to to use Ryan Levesque’s Ask Formula and do a Deep Dive Survey.

But even when you use a Deep Dive survey can sometimes give you skewed results. That’s because what people say they want and what they actually DO can be two quite different things.

Secondly, you can learn a lot about your market by rolling up your sleeves and doing some market research. Looking through popular marketplaces like Amazon.com, search for your keywords (such as “Harley accessories” or “Harley touring” or “Harley vacations”), and find out what the people in that market are already buying.

Once you know what they’re already buying, then you can do three things:

1. Send out content based around these topics

2. Send offers promoting the products they’re already buying

3. Source or create your own similar products and promote them too

And finally…

One way to really get inside your prospects’ heads is to spend some time with them (f you were in the Harley market this is a given). Best way to do this (whenever possible) is to become part of the target market for a while.

For example, if you are not into Harley bikes but instead your target market is hydroponic gardeners, then you ought to start your own hydroponic garden so that you fully understand your market’s needs, desires, problems and frustrations.

What’s more, you need to get in to conversations with people in your target market and really spend some time listening to them. That’s right, you can start eavesdropping on your market.

Here are good places to do it:

  • Niche forums
  • Relevant Facebook groups
  • Discussions on niche-relevant Facebook Pages
  • Discussions in the comments sections of blogs
  • Questions and answers on sites like Quora.com
  • Reviews of popular products on sites like Amazon.com
  • Comments on niche-relevant videos on YouTube.com

The more time you spend learning about what the people in your market want and need, the easier it will be for you to connect with your subscribers. You’ll create better content, send better offers, and start making more sales.

And if you would like to learn more about how to kick it out of the park when you launch your own product or service, including how to grow your launch list quickly with people who are in your ideal target audience, check out Jeff Walker’s free Product Launch Masterclass here.

Talk soon,

Rocky

PLUS: When you’re ready, here are 4 ways I can help you to grow your business using product launches:

1. How To Create A Signature Product Out Of Thin Air In 72 Hours Or Less
Creating your product does not need to take weeks or months. My 72 Hour Product Creation Guide shows you how to build high value products one after the other in 72 hours or less. Click Here

2. How To Outsource Your Product Creation And Make It Hands Free.
Outsourcing the creation of some or all of your products and bonuses is a great way to save your time for the more important (and more fun) things you’d rather be doing. Grab my Hands Free Outsourcing Cheat Sheet to learn more. Click Here

3. How To Build A Profitable Launch List.
Building an email list is critical if you plan on doing a launch for your product, service or business. My 1-2-3 List Building Cheat Sheet will show you how to build a responsive list of prospects who are ready to buy from you during your launch. Click Here

4. Work One-On-One With Me
If you’d like to work directly with me to run a launch for your business… just send me a message by emailing me at rocky [at] localwebsolutions.com and put “One-on-One” in the subject line… tell me a little about your business and what you’d like to work on together, and I’ll get you all the details!

Also, check this out 🙂

Jeff Walker’s free Product Launch Formula training.

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