So, let’s start at the beginning with the single critical elementthat converts more of your visitors into cash-paying customers.
Here’s the key: you need to know as much about your audience as possible. That way, you can create content and offers that really speak to them to convince them that your product will deliver the results they are looking to achieve.
That’s what you must ultimately establish: a fit. You need to connect your product with a buyer. Actually, many buyers. But at the foundation is the relationship between your product and the end user.
You must convince those who are looking for a specific result that your product will help them achieve that result … better than the products of your competitors.
In order for that to happen, you need to find out everything you can about your
audience so you know what they want and how to communicate the benefits of your product in a way that will resonate with them.
So, with that in mind, let’s walk through the steps of how to do your market research…
Step 1: Discover Audience Demographics
Plenty of other researchers have already studied your audience, so the first thing you can do is run a Google search for your niche keywords alongside words like “demographics” (e.g., “dog owner demographics”). Here you’ll get age, gender, income and other demographics. Be sure to focus on data from reputable sources only, such government sources, academic institutions, and reputable research organizations.
Step 2: Determine What They’re Buying
Your next step is to find out what sort of products and services your market is already buying. That’s because one really good way to boost your conversions is to create offers you know your audience wants. And the best way to find out what they want is to discover what they’re already buying.
Here’s how to do that…
Step 1: Search Marketplaces
Search for your niche keywords and check out what’s selling well in marketplaces such as Amazon.com, Udemy.com, and Clickbank.com. In addition to looking at bestsellers, you’ll also want to check if a particular type of product has multiple competitors (which is a sign that the product is in demand).
TIP: Get a sneak peek into what your audience thinks about these products by reading the product reviews on sites like Amazon. Pay particular attention to what they like and don’t like about certain products. This helps you create a product that’s similar to existing solutions yet better than anything else on the market. Or, if you already have a product, then you can incorporate the “likes” into your product. Better still, you can draw attention to these desirable features in your marketing.
Step 2: Research Competitors
Your next step is to go to Google and search for your niche keywords, and then check out what the most popular sites in your niche are selling. The best evidence that a particular type of product is selling well is if you see the same type of product being sold across multiple sites in your niche. For example, if multiple people in the weight-loss market are selling low-carb diets, that’s a sign that low-carb dieting products are in demand.
Here’s the next step…
Step 3: Check Advertising
If advertisers are consistently investing money into promoting a certain type of product, that’s a sign that the product sells well. As such, you’ll want to track Google sponsored ads, ads on niche sites, and even ads in niche publications over time to see what your competitors are advertising.
Step 3: Delve Deeper
Still another way to understand your audience better is to survey them. Ask them questions about:
- Their demographics.
- Where they get niche-relevant information.
- What sort of products and services they’ve tried in the past.
- What they like and don’t like about those solutions.
- What features and benefits they’d like to see in a solution.
Be sure to ask open-ended questions so as not to artificially limit responses.
Step 4: Develop Your Profile
Now that you’ve collected all this information, you’ll want to develop an audience profile. This is where you list all the information you know about your audience, from the types of products they purchase to their demographics.
TIP: For best results, split your audience into different audience profiles (i.e., subsegments of your market). For example, if you’re selling weight loss information to women who are 30-50 years old, you may find that one segment consists of new mothers who want to get rid of the baby weight, and another segment are perimenopausal women whose metabolism is slowing down. Obviously, you’ll approach these segments of your market differently.
Now let’s wrap things up…
Now that you know how to “get inside your prospect’s heads”, your next step is to start creating your own audience profiles. Your assignment is to follow the steps above to learn as much as you can about your audience. Then fill in this information about your different audience segments:
- Marital status.
- Any children?
- Educational background.
- Their biggest niche-related challenges.
- The types of product they’re already buying.
- The shortcomings of these products.
- The selling points and strengths of these products.
- What the audience would like to see in a solution.
- What the audience fears (related to the niche).
- Does this audience speak any niche jargon?
Go ahead and work on your audience profile, and I’ll see you in the next secret…
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