33 | Market Research 101: How to Create the Digital Product Your Audience Actually Wants Artwork

The Inspired Business Podcast

The Inspired Business Podcast is where we talk all about how to earn a God-honoring income from your creative work so you can serve more people, sustain your message financially, and make a bigger difference in this world. I am a multi-published author turned digital products coach… but once upon a time, not too long ago, I was terrified of technology! I didn’t know a tag from a tripwire from a Tupperware lid. If I can figure out how to love digital marketing, then believe me, you can, too. Together we’re going to discover how to grow your audience and your income with biblically sound business principles that align with your faith and family values.

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The Inspired Business Podcast

33 | Market Research 101: How to Create the Digital Product Your Audience Actually Wants

April 24, 2023

How can you know if your digital product is going to sell? Several factors can help determine ahead of time whether your sales funnel leads to conversions… or crickets. And it’s all dependent on one critical best practice: market research. Have you asked your customers what they want? How do you know for sure that your product is positioned to solve their problem? Are you certain of what their problem is in the first place? In this episode of The Inspired Business Podcast, you’ll learn what it takes to create the right product, for the right audience, for the right reasons, in the right way.

Highlights:

Surveys are not enough
What is your customer’s actual problem (vs. your presumption)?
Create a product that either serves your existing audience, or that’s designed to break into a new audience… but don’t get the two confused
What is the customer’s motivation for purchasing your product?
The wrong way to sell is to try to convince somebody to buy your product. The right way is to speak to your audience using their words, not yours.
Market research steps:
- Schedule 5 to 10 Zoom calls, hit record
- Upload to Temi.com or Rev.com
- Print and highlight transcriptions
- Use the customer’s language in your marketing copy
Questions to ask:
- What frustrates you most about ______ [your topic]? Dive deep into the fears and feelings beneath the answer.
- What intimidates you or stresses you out about ______ [your topic]?
- If you had a solution to _______, how would that change things for you?
- If you could talk to an expert on ________ [your topic], what questions would you ask?
- Finish this statement: If I had total control over _______, then my problems with [your topic] would be solved.

Resources mentioned in this episode:
Becky’s books
The Inspired Business Guide Bundle
The Funnel Club
Profitable Digital Products Method
Temi.com
Rev.com

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