One of the keys to launching a profitable info-product business is to create a sales funnel full of offers that can either be your own products and services or they can come from other people, That way, you have the ability to launch profitable products to new prospects as well as to your existing customers.
This process requires two steps:
1. Coming up with potential product ideas.
2. Researching these ideas to ensure they’re profitable.
You can’t even get to the second step if you’re stuck on the first step. And that’s why over the next couple pages we’re going to focus on how to come up with all the potential product ideas you need. Take a look…
Browse Infoproduct Marketplaces
With this method, you come up with product ideas at the same time as you research them. The idea here is to enter your keywords into marketplaces such as Udemy, Amazon and ClickBank to see what’s selling in your niche.
Take note: look at tables of contents and sales letters, as each chapter/section may provide you with a product idea. For example, maybe a dieting book includes a chapter (or even just a subsection within a chapter) on the topic of high intensity interval training. That’s a product idea for you right there, as you can create report or video on this topic.
Next…
Read Product Reviews
While you’re still in the marketplaces (like Amazon), take time to read the product reviews on popular products. Many times, the audience will share ideas of what they would have liked to have seen inside a product, and each of these ideas can then become a potential product idea for you.
Check Out Your Competitors’ Content
Not only should you see what your competitors are selling on their websites, but you’ll also want to check what they’re writing about on their blogs, in their newsletters, and on their social media pages. Don’t forget to also check out their videos (especially on YouTube) as well as their webinars.
Use Keyword Tools
Still another way to generate product ideas is by using keyword tools like WordRecon.com or WordTracker.com. Simply enter in your broad keywords (like “weight loss” or “gardening”), and the tool will return a list of related phrases your market is typing into search engines.
For example, if you’re searching for online marketing, you might discover that people are looking for “tips for picking a niche” – that’s a potential product idea for you.
Check Your Existing Content
If you’ve been working in your niche for a while, then you already have content on your blog, in your newsletter archives, on social media and perhaps elsewhere. It’s time to check your traffic logs, shares and other activity to see what’s popular.
For example, if you have an article with ten tips on your blog, you could expand each of those ten tips to create a new report.
Another idea: think about how you can combine multiple popular pieces of content to create something new. For example, if your traffic generation articles about Facebook advertising, Facebook groups, and creating Facebook pages are all really popular, that may give you an idea to create a definitive guide to generating traffic on Facebook (both free and paid).
See What Your Market is Asking
You can start by checking your own inbox to see what sort of questions people ask you in your niche. If you have a community (such as a forum or blog), take note of what questions come up repeatedly in your audience. The answers to these questions may give you ideas for products.
For example, if people on your dieting blog keep asking you the best way to shake off those last stubborn 10 pounds, that may give you an idea for creating a product just for people who are almost to their weight-loss goal, but having troubles crossing the finish line.
Another way to find out what interests your market is to visit question and answer sites such as Quroa.com, Yahoo! Answers, or even JustAnswer.com. Every niche question you see on these sites may potentially give you an idea for a product.
For example, you may see a gardener asking a question such as, “What is the best way to get rid of tomato worms?” This simple question can give you multiple product ideas, including:
• A report on how to get rid of tomato worms.
• A video designed to help people identify common garden pests and how to get rid of them.
• A “recipe book” full of organic gardening sprays that gardeners can use to get rid of various pests.
Point is, don’t limit yourself to just the exact idea you see in the question. Do some brainstorming off the original question, and you’re bound to come up with some additional great ideas!
Now the next tip…
Ask Your Market
Another way to come up with potential product ideas is to simply ask your market. This doesn’t have to be a formal survey (though it can be, if that’s what you’d like to do). Instead, you can just post on your blog, on your social media pages, and even in your newsletter asking people what they want.
The key here is to ask open-ended questions (no multiple choice) in order to get as many ideas as possible.
For example:
• “What is your biggest challenge [in the niche]?”
• What [niche] topic would you like to learn more about?
Now a few parting thoughts…
Conclusion
If you walk through all these steps, you should be able to come up with dozens of potential product ideas. As an added bonus, you can use these same methods to brainstorm up ideas for content to write about in your newsletter! In both cases, be sure to research your product ideas to ensure your audience wants them.
If you’d like to learn more about launching your new product successfully, including seeing examples of email sequences and case studies of people who have used PLF with outstanding success, by checking out Jeff Walker’s free Product Launch Masterclass here.
Talk soon,
Rocky
P.S. Being able to create a Perfect Product is a great start, but you also need a way to generate sales in a consistent way. Running a Product launch is a proven way to not only build your list, but generate Social Proof and make a large number of sales quickly. To learn how to launch your product successfully, check out Jeff Walker’s free Product Launch Masterclass here.
PLUS: When you’re ready, here are 3 ways I can help you to grow your business using product launches:
1. 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. List Warrior will show you a proven way to use free software to build a responsive list of prospects who are ready to buy from you during your launch. Click Here.
2. How To Create The Perfect Product
Creating a product that is perfect for your audience does not need to be difficult. How To Create The Perfect Product shows you how to build high value products your audience will love one after the other. Click Here.
3. How To Attract Buyers To Join Your Launch List So They Can Purchase Your Perfect Product.
Once you have created your Product Launch List and your Perfect Product is ready to go, you need to attract people into your world so they can buy from you. One Minute Free Traffic gives you a proven way to attract buyers with ‘Automated Traffic Machines’ so you can send those people to your optin page, your sales page, your Facebook Group or anywhere else you choose. To learn more Click Here.
And don’t forget to check this out 🙂
How to Earn $20 in 20 Minutes With Any Topic, Niche or Hobby
Disclaimer: If you purchase PLF through my affiliate link I may receive a referral fee from Jeff Walker, however you will pay no more to purchase the program through me than if you went directly to the Product Launch Formula website. If you would like my personal help as you create your first launch using the PLF process, check out my PLF Bonus offer here.