The best market research for your digital product

Do you feel like you haven't done enough research yet to start creating and launching your product? If this is you, keep reading! Today, I'm talking about where you can find the best market research for your digital product. It's so easy to get stuck in what I call the R and P stage of creating your digital product. Research and Planning, also known as Rumination and Procrastination. I do recommend that you do a little bit of research at the start, but this research is simply talking to your potential customers.

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How to leverage your audience for digital product research

Finding out what your audiences' problems are, that's a really good place to start. Yes, you can do that bit of research. But it gets to the point where the best research isn't what happens “by thinking and by researching.” The best research becomes just getting your product out there by launching it while you create it. For example, my podcast launch plan, my A-Z Podcast Launch Plan, which you have heard me talk about a lot on this podcast because it is my number one success in my business. What actually happened was it was originally meant to be an eight-week group program.

And I could have created this eight-week group program and then launched it to my email list. But instead, what I decided to do was launch it to my email list, say, “Hey guys, I'm thinking of putting together this eight-week group program. Let me know if you're interested. And if we meet the number of people in the group, I'll go ahead and create it and it'll be taught live.”

What happened was, I had two people out of the 10 required sign up, and I realized, “Okay, this isn't what my audience wants. Something is missing here.” So I asked people, “Why didn't you sign up?” And I found out that people didn't want to commit to showing up live for eight weeks, when they really just wanted to be able to launch their podcast on their own timeline. So with that, I pivoted my idea into the A-Z Podcast Launch Plan, which is a completely self-paced product and relaunched it to my list.

And since then, that product has helped around 5,000 people, and has brought in over US $850,000 into my business. So, that is how powerful the market research of launching it, and then being able to pivot can be, in your business. If I had created all eight weeks of that group program, launched it, and had nobody buy it, I probably would have felt really disheartened. And I don't think I would have wanted to pivot. I would've just been like, “No, this was a failure,” and given up on it completely.

So that is why I really recommend if you haven't already created your product, I recommend launching it at the same time as creating it.

 

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