One of the ways in which a business owner makes money is by creating and selling products to their target audience. But first, you have to create the products. A lot of thought needs to go into each product, from who will create it, to how it will be marketed, and what technology will be used to implement the entire cycle. It’s a lot to think about, but if you get it down to a science, you can continuously create products for your audience that they will buy and love.
In order to create product ideas, it’s important that you are clear about who your target audience is, and the pain points they have, so that you can create solutions for them. In addition, you need to have a thoughtful sales funnel and know where each product fits into that funnel. What’s really great about all of this is that you can always ask your audience what they need. If you’ve done a good job at building a list of your target audience, all that’s left to do is create exclusively for them.
Some people are great at coming up with ideas, just not so great at finishing them. Others get stuck in the idea phase and are not satisfied with the ideas that they do have. If you have a lot of ideas, it’s important to write them down, and categorize them according to where they will fit in your sales funnel. You should also be able to clearly identify the pain points that the product is solving for your audience. Answer this question: What problem is this product solving for my audience? Start with the simplest idea on your list and work your way up to the biggest idea, building buzz as you go along.
If you have trouble coming up with ideas, then you need to practice brain storming of some kind. A great idea is to use a mind map. A mind map starts with a central idea, then branches out to many other ideas. Nothing is off the table, just let it flow out, writing it all down. Categorize and analyze the ideas later to ensure that they do address a need that your target audience has and that they fit into your sales funnel. Once you have at least one solid idea, you can get onto the creation phase.
The product creation cycle looks like this:
* Testing and feedback
* Rinse and repeat
It doesn’t matter if your product is as simple as a blog post or as complex as a 12-week coaching plan, or an actual physical product. It’s important to complete the product creation cycle to ensure that you create the very best products each time for your audience. Products that they need, want, and are willing to pay good money for. Products that they also actually use and implement into their lives or business.
If you follow this process each and every time you create any product, you’re going to be exponentially more successful.