Where Do You Get Your Product Ideas?
January 10, 2008
I received this question from Mara B.
“You have come up with so many wonderful products. Where do you get ideas for them? What research do you do to determine which projects to release when?”
Great question Mara and here’s your answer.
There are many ways to research information products. You can do keyword research, surveys, question and answer sessions, and many articles on creating your own ebook/information products show you how to do this. For me, it’s a matter of listening to my readers and dedicating myself to serve their needs. Over the years, I’ve developed a loyal readership that I have learned from…just as much as they have learned from me. I listen to their problems. I see where they spend their money. All this helps me know what they really want.
How do I listen to their problems?
- I read and absorb the comments they make on my blogs and the replies to my newsletter.
- I visit their blogs and the forums where they hang out.
In other words, I pay attention and see where common problems are found and figure out potential solutions. Of course, knowing their problems doesn’t automatically directly lead me to profitable solutions. Although, I might be able solve their problems, they may not want to pay me for that solution.
How do I see where they spend their money?
- I keep an eye on other companies selling to the same market. I watch companies that have similar values to mine and reach a very similar target audience.
- I track the links in my emails to see which offers my readers are responding to.
- Again, I listen to what they say on blogs, forums, etc. to see what they are buying.
How do I know when the time is right?
As far as timing goes, I don’t think I have any real big secrets. I might tie in promotions into a certain part of the year, but when I see a need, I go after it and create a solution, no matter what time of season it may be. I know some people say that there are certain slow periods for selling to my market of other online business owners, but I really believe the slowdowns are often self-induced. Many people get the thought that something won’t sell at a certain time and therefore don’t even try. For me, I try to go against the grain and keep making those offers which in turn gets people to keep taking them.
Last 5 posts by Alice Seba
- Mila is Right, But Don't Use it As An Excuse - May 4th, 2008
- Turn Your Job into a Business - April 22nd, 2008
- Tips for Defining Your Target Market - April 3rd, 2008
- Fear Pay-Per-Click No Longer - March 27th, 2008
- Combining Service Based & Passive Income Businesses - February 25th, 2008
Thank you for your response, Alice. Now I know why you’re successful. I think your emphasis in trying to solve your reader’s problems makes a lot of sense. And, I can see where it would give you ideas for new products.
[...] BUT a word of warning – Never let a survey replace actual tracking data and observation. The curious thing is that, in many cases, people actually behave in different ways than they say they will. In other words, what they want or what they’d do in a survey is quite different from how they will actually react in a given situation. So always combine your survey data with observations of your market. You can use the tips I made in this post to make your observations. [...]