Validating product ideas is a must-have on your to-do list for making money online! I never recommend just creating a product on the fly and hoping it sells. Use these tips and tricks for making sure "Launch Day" is a success!
Let's just dive right into them now!
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Tip 1: Research Your Competitors
First things first, do some competitor research. Find out what your peers are creating, how much they’re charging, how their audience is similar or different from yours, etc. Basically, just get a feel for what’s already out there so that you can pinpoint how your product could potentially stand out in the market.
Tip 2: Analyze Your Statistics
The second thing you should do is analyze your own statistics. This means looking at your site analytics to see what posts are popular, check out your social media analytics to see what posts are shared/commented on the most. Really take note of the exact kind of content is that is resonating with your audience.
Tip 3: Ask Your Readers
My third tip (and this is my favorite way to validate an idea) is to chat with your readers because they are the ones that are potentially going to purchase what you’re going to create. You need to know what exactly they’re looking for and how you can solve problems for them in order to create the best possible product and potentially get the most sales.
Tip 4: Offer Pre-Sale Options
My last tip is to setup a pre-sale option for the product you’re already working on. Nothing says validation more than when a reader purchases a product that you haven’t even finished yet. It shows JUST how excited they are about the prospect of owning what you’re creating.
Here’s a great example of how powerful validating is. I created two products and put them both up for pre-sale. Product A performed so-so and Product B got a ton of pre-sales. This behavior continued once both of the products launched. And while Product A made sales after the pre-sale period ended, it never even came close to what I saw (and continue to see) with Product B.
If you’re panicked about what in the world you can do to validate your product or service idea, I definitely recommend these methods! And don't forget to subscribe to my YouTube channel to catch future videos about blogging and business!