Have your ever thought of a great idea to fuel your sales funnel only to find that it didn’t get hardly any traction?
Don’t worry; you’re not the only one. Here is how to validate a market for your next sales funnel.
Creating a new E-book, online course, webinar series and more takes a lot of time and money if you outsource.
You obviously don’t want to invest your time and money into something that will not get you a return which is why validating the market before launching is so important.
While it is possible that your new sales funnel might just work and see a lot of activity, you preferably don’t want to leave things to chance.
I am an avid fan of researching… it hasn’t failed me yet.
Here are some tips on how to validate your idea before launching your next sales funnel:
Jotting Down Daily Problems
To find some great ideas for my sales funnels, I will take a look at my own everyday life and what problems and little annoyances you face each day.
You can also think about how you would like to improve the efficiency of a particular task.
For example, you want to learn how to build a sales funnel only to find that there isn’t actually any detailed guides currently on the web.
You then speak to an associate and ask how they learnt how to build a sales funnel only for them to tell you that they outsourced it.
This then gives you the idea of creating an online course or a series of webinars for others like yourself who want to learn how to build their own sales funnels.
Another thing to think about when creating a content product for a sales funnel is what expert knowledge you possess that you can share with your audience.
For example, if you have built a successful company from scratch using Facebook ads then share your tips and secrets with your audience via an eBook or webinar.
When I’m looking for ideas for sales funnels, I will get my paper and pen and jot down any little annoyances and problems I face and any tips and secrets that I have recently tested to share with my audience.
Once I have written a list of ideas, I will then work to validate the market to find out whether it will result in fact fuel a new sales funnel.
People Saying It’s A Good Idea May Not Actually Mean It
Before I go into what you should do when validating a market, let me first explain what you shouldn’t do.
It is very common for entrepreneurs to ask their friends, family, and associates, what they think of their new idea.
They will then use this feedback as the validation they need.
While this can work in an idealistic world, it isn’t the most honest way to validate a market.
The first thing is to think do your friends, family and associates fit into your target audience?
The second thing is will they really give you an unbiased opinion or tell you what you want to hear?
If you really want to validate a market, then you must tap into that market to get a feel for whether there are in fact people who need your product.
Use Keyword Planner To Research The Need
One of the first things you can do to validate a market is to use Google’s AdWordsKeyword Planner tool which is completely free to use.
You may think that you have come up with the perfect product that will solve a problem your audience are facing to fuel your sales funnel, only to find that there aren’t actually that many people are suffering from this problem.
The key here is to judge whether the time and money spent creating this new product and sales funnel will generate a profitable return.
One of the most efficient ways to determine the need for your product is to use the Keyword Planner tool to use a keyword to search how many people are asking that question and any other relevant terms.
Sticking with the example before, you might search for “how to build a sales funnel”. You will then be presented with a list of relevant keywords and their relevant monthly search volume.
While the Keyword Planner tool is a great place to validate a market, it is always best to use a combination of things to be sure you should pursue with your new sales funnel idea.
Research What Your Competitors Are Doing
One of the easiest ways to judge whether there is a need for your product idea is to look at what your competitors are doing.
You don’t need to reinvent the wheel!
You can see whether your competitors are doing it or something similar to see whether there is, in fact, a market for your new sales funnel.
If you have an idea that is incredibly unique and can’t find any competitors doing it then there are other ways in which you can validate a market such as:
- Browse any products that solve the same issue as yours but in a different manner. You can then see whether this has traction be analysing social shares and page authority. For example, you might find someone is offering a checklist on how to build a sales funnel which has a lot of engagement. You can then repurpose this into a webinar series or eBook to offer a more detailed solution.
- If you have an email list, then ask them whether they have the problem and if so, whether they would be interested in a product such as yours to help them solve that problem.
Another great place to look is in reviews.
If you notice that there is common feedback, then it is an opportunity for you to offer a better product with that feedback taken fully on board.
Research Bestselling Amazon Books And Udemy Courses
Both of these websites allows you to see how many people have left a review to determine how popular the products are.
There are thousands of eBooks on Amazon so you should find topics that are relevant to your target market.
All you need to do is search for topics that are related to your product, see whether they are popular and if so, read the reviews to see whether it is a solution people need.
The same thing goes for Udemy.
There are thousands of online courses that you can browse through to find ones that are relevant to your idea.
Udemy is filled with experts in all kinds of niches who are willing to share their expertise with others… for a price.
You can either search for courses or for experts to do the same as on Amazon to see which are popular and which have good feedback.
Both of these will give you an idea as to whether there is a market for your sales funnel.
One thing to note, though, I wouldn’t use just this to validate but rather to confirm.
Create A Minimal Viable Product
Even after you have research to validate a market, this does not mean that you should go ahead and build your product and sales funnel… in full anyway.
Instead, create a minimal viable product for testing before the full build and launch.
A minimal viable product means only to build your sales funnel with its core features and not to build in full.
You can use this minimal viable product to test then on your target market to see whether there is a need for it.
If it does gain traction and positive signals then you can go ahead and build it in full and spend more time and money with it.
If you find that it didn’t get much attention or even received negative signals then you know not to pursue the idea without losing too much time and money.
Run A Small Facebook Ads Campaign
Once you have built your minimal viable product, a great place to put it to the test is with Facebook ads.
Again, you don’t want to put your full budget into this testing phase but rather just a very small portion of your budget.
This will give you a very good idea to validate a market for your next sales funnel.
You can creating a landing page quickly with Click Funnels with an opt-in form for now rather than the product to see whether users are clicking through and signing up.
After this test campaign has finished, review whether there is a decent number of people clicking through and signing up.
If so, this is a great indication that there is a market and that your next sales funnel will be profitable.
You can also use those initial email subscribers to send your product to once it has been built as they have already shown that they are clearly interested.
The steps here are a perfectly simple and efficient way to validate a market for your next sales funnel.
Remember not to just ask friend and family but to get concrete evidence from Keyword Planner, reviewing what your competitors are doing, seeing what is popular on Amazon and Udemy and to create a minimal viable product to test the market.
How do you think of new ideas for sales funnels?
Share your tips by leaving your comments below.