How to Know Exactly What Your Next Product Should be About (And How Much to Charge for It)

Hey guys!

Today I want to start asking you a question:

Have you ever developed a product nobody cares about?

I know because it has happened to me in the past!

Sometimes we develop products without even thinking on our audience.

I used to think that if the product was great for me, it would be great for everyone else.

Big mistake.

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Today I’ll show you 3 tools to uncover your customers’ needs and wants.

So that you know exactly what to offer to them next.

AND, a little trick that I’ve used to know how much to charge for it.

Let’s dive right into it.

Tool #1: Google

YES! Believe it or not, Google can be your friend. From Google I use 2 specific tools:

  • Google Webmasters Tool (Search Console)
  • Google Audience Insights

Using Google Webmasters Tool to Uncover your Audience Queries

At first, it can be a bit technical, but GWT (now Search Console) can be quite helpful.

So don’t be afraid to plugging your website into it and see that it comes up.

I use the Search Queries tool to know through which keywords my audience is finding me.

It’s not only a Search Results tool, but it will also show you tons of long tails.

Those long tails are golden if you are looking to uncover your next product.

Of course, phrases like “Red Shoes” won’t tell you much.

But if you find stuff like “How to Make my Shoes fit my Feet Better”, then you might have an “ah-ha” moment. Google Search Console 1  

These queries don't have a ton of searches but they repeat themselves, so you know what your next product should be about

These queries don’t have a ton of searches but they repeat themselves, so you know what your next product should be about

Using Google Audience Insights

Both GWT and Audience Insights take some time to collect data from your visitor and give you some information.

For this to work you need to have a Google Remarketing Pixel installed (instructions here).

And also a make your first Google Remarketing List (instructions here).

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As your website starts picking up visitors, Google will collect data.

Based on browsers, history, their Google + account, etc.

So once you collect enough data you can check the demographics of your audience.

And know exactly what they are looking for in terms of needs and problems to be solved.

Google Adwords Audience Insights

Tool #2: Facebook

The big social media platform also has its own “Audience Insights” tool.

And it’s way more powerful than Google’s in my opinion. Because it works with Facebook’s own database.

In order to make this work you’ll need to plug some interest in advance.

This is what I like to call your “Duh audience”.

So if you know for certain that most of your audience like “Justin Bieber”, for example.

You can plug that page into Facebook Audience Insights and drill down for demographics.

This will help you achieving 2 main goals:

  1. Know exactly who to talk to on your posts, your copy, your ads, etc.
  2. Have extra information to target people in your next Facebook ads campaign.

So it’s a really handy tool and you can get it to work in no time.

By targeting "Frank Kern" we get a ton of useful information

By targeting “Frank Kern” we get a ton of useful information

 

Some other pages we could target or keep drilling down to uncover other interests.

Some other pages we could target or keep drilling down to uncover other interests.

Tool #3: Don’t be Afraid to Ask!

Do you want to know what your audience wants to be marketed next?

Just ask them!

Really, just send an email asking them something like

“What is your number 1 roadblock to grow your business online?”.

This simple question has allowed me to develop new products in many of my companies.

This also works if you are part of a big Facebook group, a big Forum or Google Plus community, etc.

Just ask!

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If you want to increase your success rate, go ahead and offer something in return.

A good ole’ 20% discount on your next launch or prime access to a private community.

These are both good ideas.

At some point I’ve also asked “How much would you be willing to pay to get this problem solved?”.

And the results are amazing!

This is an example of the power a Facebook group can have.

This is an example of the power a Facebook group can have.

So now you know how to uncover exactly what your audience wants.

What are you waiting for?

Go ask them and develop your next product based on that!

Have a great day!

Hernan.

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