Does Your Audience Need It?
Tips To Ensure Your Information Product Will Sell
A crucial step in creating an information product is to make sure that it will sell. Information products are easy to produce with very low overhead, but it doesn’t make sense to put forth the effort without a guaranteed return.
You can never be 100% sure, but here are some ways you can make a very educated guess.
1. Conduct a Market Research
Use the Internet to conduct market research. There are plenty of opportunities online to get a thorough understanding of your market, and you should be taking advantage of them when creating your information products.
The first thing to do is trying to get a sense of the overall size of your market. An easy way to do this is to identify a key demographic and then make an estimate according to population.
For example, your target market may be men in the 40-55 age range in mid-sized cities in the American Midwest. There are plenty of census and demographic resources online where you can find this data. You can further refine your search by adding other key demographics. You’ll end up with an idea of how many potential buyers there are.
2. Look at Similar Information Products
You can research similar information products online. Try to determine whether these products are selling or not. Good resources for doing this include ClickBank and Amazon. You can’t get specific data on the volume sold on these sites, but you can get an idea by looking at the reviews.
Simply searching for similar information products and browsing can glean quite a bit of information. In addition to finding reviews, you might see mentions in forums or on social media. By looking at how much a product is talked about, you are able to see and compare what different people are looking for in an information product and what do they think of the ones currently available.
For example, you might come across a social media comment where a buyer is saying they wish the product had gone into more detail on a specific topic, and you can then cover this particular topic in your information product.
3. Conduct a Market Survey
Before the treasure trove of market information that is the Internet, businesses conducted market surveys. This, too, is made easier by the Internet. You can conduct surveys online with current customers, your target market, or social media followers. Ask specific questions about what types of information products they’d like to see, as well as problems they’re facing right now. If you can address and solve a problem, you’ve virtually assured sales.
4. Keyword Research
You can use a tool like Google’s Keyword Planner Tool to research search terms and discover search volume. Pick a few keywords that describe your information product and do a search. Are people searching for this keyword?
Google Trends is another good research tool for keyword research. It shows you which keywords are trending and their search volume over time in graph form. You might discover that your chosen keywords are on an upward trend, which means there’s rising demand.
5. Launch a Minimum Viable Product
Before you launch the full product, you can create a minimum viable product (MVP) and see how it performs. Take one problem and solve it, or present one topic from your bigger product. If your MVP sells well or draws a great deal of interest, you know that you’re ready for the full product.
Now you have some idea to test how your product would do once you launch it! But, if you still have doubts about how to create amazing information products, head over to our course: How to Create Fast + Profitable InfoProducts and start creating more streams of income for your business.