One of the biggest mistakes business owners make before they launch a new product or service is not doing enough market research to find out what people truly want to buy.
That’s why the first rule for any Product Launch is this: Find Out What Your Customers REALLY Want
There’s simply no point in creating and launching a product that nobody wants to buy. Most business owners do at least some market research during the start up phase of their business.
But after that, it’s easy to get sidetracked. Sometimes many of us are in a hurry to get things out there, which means we launch products and services without ever really seeing if the market wants or needs them.
You see, some of the easiest money you’ll ever make is when you create or source products and services that hordes of people your market are ALREADY buying.
Then all you have to do is create a similar product (no copying or staling of course!) and put it in front of your prospects and customers. And the best way to do that is by using a product launch.
So how do you find out what your market is already buying?
There are a number of ways, but here’s two of the best:
Survey your existing prospects and customers and ask them what their biggest ________ problem is right now. Just enter the type of market you serve where I’ve put __________ and ask them.
And when your people tell you what their biggest problems are, find the most pressing, or the one with the largest number of of people experiencing it, and then create or source and launch a product or service to serve that need.
The second way is to run a search in the Amazon.com marketplace for your general keyword (like “gardening”), and sort by “bestselling” products. If you see a few similar products dominating the first few pages of results, that’s a pretty good sign that the product is popular.
Bonus product launch tip: Another way to find out what’s hot is to follow the money.
Marketers don’t pour advertising dollars into products that aren’t selling. So look at pay per click ads on Google, ads in your local newspaper, ads in niche magazines, banner ads on big sites and similar paid advertisements to see what’s being sold.
Once you’ve found the perfect product or service idea based on what people in your market are clamouring to buy, create or source it and launch it to the starving crowd. And sit back and watch the money go into your bank account…
I don’t want your education on how to create profitable product launches to end there. There’s so much more to know and there’s so much we can get into on the important details. So I’ve created a free Step-by-Step Guide that shows you how to create a 6-figure product launch and a multi-part email course. It’s eight emails over two weeks. Click here to sign up.
PLUS: When you’re ready, here are 4 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. 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
2. 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
3. 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
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 🙂