How to do Market Research: The Most Overlooked Secret to Creating a Profitable Online Course or Product

How to do Market Research: The Most Overlooked Secret to Creating a Profitable Online Course or Product

Do you want to learn how to sell out your programs and courses? One of my top secrets to creating courses that sell is market research! In this post, I’ll teach you how to do market research in your biz!

If you’re brand spanking new to my blog, welcome! I’ve got tons of resources to help take your biz to the next level so grab a cup of coffee (or a glass of wine, no judgment?) and get comfy ?

How to do Market Research:

I’m going to sum up this blog post in one sentence, then I’ll break it down for you so you can understand my process.

I ask my audience what they want, then I give it to them.

Let’s talk about it.

Which do you think is better?

  1. An offer that you ASSUMED your target market needs?
  2. Or an offer that you KNOW your target market needs?

It’s a no-brainer, right?!

I sold out my first eBook (Keto(ish): The Simplified Guide to Eating High Fat Low Carb) because I polled my audience and asked them questions every step of the way!

My online course, Pin with Purpose sells crazy well because I talked to my audience and knew what they needed before I ever created the program!

Essentially, I polled my audience throughout the entire process.

The first step I took in creating my eBook (which is the most important):

I asked them if they would even want a guide on how to eat high fat low carb.

Why waste time creating a book or course that no one buys?!

I shared a lot of my health journey on my fitness blog and social media accounts, and it was my blog posts specifically about eating keto that got the most attention. I simply asked my audience if they would want me to dive a bit deeper into that topic and include more how-to information in the guide.

They said heck yes!

So many people skip this step! They assume that they know what their audience wants!

Don’t ever assume—ask!

After I asked if they wanted it, I asked what they wanted me to include in it.

I wrote up a general outline of the eBook and showed them what I was going to write about, then asked again if they thought I was missing anything or what else they would like to see inside.

I then polled my audience on the cover design. I asked them which design they liked best and then took their feedback to make it better.

I also asked on social media if a few members of my audience would edit the eBook for me and they would get a copy for free.

My audience literally helped me create the eBook from start to finish, so that when it was time to sell it, they jumped on it. Literally. They crashed my site! That’s a quality problem ?

I spent so much time seeding the launch, getting them excited about it, showing them exactly what was inside, and asking for their feedback (and then applying it), which is why it was so successful.

I’ve applied the exact same strategies to my new business and have had similar results with new program launches.

The main principle with everything that I do in my business, is: I ask my audience what they need then I give it to them.

Simple, right?

Here’s my 3-step target market research method that you can follow right away to understand your clients the right way and create an offer that sells out!

How To Do Market Research Step 1: The What

First, we will define the objective of the market research. What questions/confusions are you specifically looking to solve through this research? This will help you ask the most relevant questions.

I typically ask questions like:

  • What are your current goals?
  • Why is this important to you?
  • What’s holding you back from achieving them/what are you struggling with right now?
  • Questions specific to the program I’m coming out with (ie: How are you currently using social media for your business? Have you ever thought about Pinterest? If not, why not?)

How To Do Market Research Step 2: The How

Now you are going to develop your research plan. How are you going to conduct this research? 1:1 interviews? In-person coffee chats? An online survey? Testing?

When I was first starting this business I simply asked any and all female entrepreneurs I knew if they would jump on Skype with me for a 15 min interview. I was surprised how many people said yes!

Here are some ways that you can do market research today:

  • Create a poll in your Facebook community (if you have one) and ask what kind of content they would like to see from you!
  • Include questions for people to answer when they join your Facebook community
  • See if you can jump on the phone with some of your potential clients and see what they’re struggling with and if they would be interested in your idea. I ended up booking quite a few clients just from these interviews!

How To Do Market Research Step 3: Collection & Analysis

Then, I take some time to go through the data, see what trends emerge, and change my marketing strategy accordingly.

When I was getting ready to launch The Lead Generation Lab, I created a survey that I sent out to my audience. One of the questions was about their goals…and I was blown away that I saw over and over again that my people wanted to learn how to make $5,000 per month with their online business.

I had no idea this was their big goal. When I saw that, you better believe I changed the messaging on my sales copy and within the launch!!

To stay organized, I use Trello and have an entire board titled Market Research where I literally copy and paste my audience’s answers so I can refer back to it at any time.

Alright, let’s sum this bad boy up.

You’ve gotta ask your audience questions…often! Find out what their struggles are, then offer them a solution.

I am always doing market research!

Recommended reading: Ask by Ryan Levesque

 

QUESTION OF THE DAY: Have you been doing market research before or is this concept brand spanking new to you? Which method will you implement today? Take action!

Ready to take your biz to the next level? Get free instant access to my online vault of videos, worksheets, and more for female entrepreneurs!

 

Rachel Ngom

Entrepreneur, Author, Pinterest Strategist

 

 

 

 

 

 

 

 

 

 

Hang with me on Insta Stories

Email: clientcare@rachelngom.com

 

“Life is a gift, and it offers us the privilege, opportunity, and responsibility to give something back by becoming more.” Tony Robbins

 

PS. Be sure to join my free online community for female entrepreneurs! Join here.

 

Top Secrets to Monetize Your Blog: How to Consistently Make $5,000/Month

Top Secrets to Monetize Your Blog: How to Consistently Make $5,000/Month

*This post may contain affiliate links, which means I may receive a small commission, at no cost to you, if you make a purchase through a link on this blog. I would never recommend a product I don’t use or love myself!

Want to learn my 10 Pinterest hacks that increased my traffic by 34,000/month?

Click the button below to get my free cheat sheet!

 

Is it possible to earn a living from your blog? Heck to the YES it is. I haven’t published income reports… yet (is that something you’d like to see?) but let’s just say I earn an awesome living from my blog and I LOVE being able to do this as a job.

I recently did a survey of the rockstars in the She’s Making an Impact community, and I saw over and over again that people wanted to earn $5,000 per month. $5,000 seemed to be the magic number that everyone wants to hit.

It’s a pretty big milestone! It’s essentially a full-time income–sweet!!

Now, how do you monetize your blog? It’s probably not what you think…

I made money from 10 different sources this month so far, and NONE of that is from ads on my blog.

Surprised?

I am a firm believer that I want people to either stay on my blog or sign up for my email list. I work hard to create quality content every week and I don’t want to send the traffic I earn from that content off to somewhere else on the internet!

Makes sense? I don’t do ads for a purpose!!

Alright, here are some of the top ways that I monetize, and I’m sure there are many more =) This is just what I do!

How to Monetize Your Blog #1: Online Courses

One of the top ways I monetize my blog is with my online courses and/or workshops, like Pin with Purpose, Creating Killer Content, and my Repurposing Content Workshop.

I could do an entire course on how to create an online course lol, but let’s just start with some of the basic things you should know before you create a course.

Grab a pen and a paper and answer the following…

What is your area of expertise? What do people ask you about often? How do you want to serve others and make an impact? What is your zone of genius?

Did you come up with some ideas?

Now, it’s super important to actually talk to your ideal clients to see if this is something they need or want. Market research is crucial as a biz owner, so reach out to 5-10 people who are your ideal clients and just ask if you can interview them! Ask them what they’re struggling with, what their goals are, etc.

After you’ve done your market research, you know a problem that you can solve AND you know that there is an audience of people who are ready for your help, I suggest you pre-sell your course.

I don’t believe in creating a course and hoping someone will buy. In the past, I’ve pre-sold my courses and then create it with my students. That way, I can tweak my teaching as I go (if it’s wayyyy over their heads I can make it easier), and create exactly what they need!

Plus, I’m not wasting time creating a course that no one buys.

How to Monetize Your Blog #2: Private or Group Coaching

I wasn’t actually offering 1 on 1 coaching on my blog at the time but was approached by several women who saw what I was doing and wanted me to teach them how. I absolutely LOVE 1 on 1 coaching because I really get to dive deep into someone’s business, hold their hand and show them the ropes. 

Before you offer coaching, answer the following: 

Do you have a specialty that you know you can help others with? 

What skills do you have that you could teach others?

What are you qualified to teach?

Do you love working with people one on one?

Or do you love working with others in a group setting?

I love both, honestly! But as my time has gotten more valuable, I’ve decided to offer very few 1 on 1 spots, and am opening up a group coaching program, where I can still give people my personal feedback and teach them, but without it taking up quite as much of my time.

How to Monetize Your Blog #3: Network Marketing

I started my entrepreneurial journey in network marketing. Say what?! I am so grateful for the experiences and growth I went through with my company and have no doubt that I wouldn’t be here today if it weren’t for starting with them.

One of the best things about network marketing? Residual income. I literally haven’t touched my network marketing business in over 6 months and am still earning thousands of dollars per month! #insane

Now, I know it’s def not for everyone, but I think it’s a great way to diversify your income and get an amazing introductory education to entrepreneurship!   

When picking a company, be sure that it has a proven track record. ‘Ground floor opportunities’ may seem exciting, but those companies rarely last long term. Also, be sure that you love the products and actually use them.

With my company, I was first a customer turned into a raving fan and became a distributor for the discount. I don’t think I could’ve had success with just any company, it really had to be this one because I was so passionate about the products.

How to Monetize Your Blog #4: eBook Sales

I was NOT expecting my eBook to take off like it has!! I literally made $1,000 the day it launched…and it crashed my site!! I had so many people wanting to buy they were messaging me like crazy lol!

I continue to sell that eBook daily (from Pinterest!) even though I haven’t promoted it at ALL!!

Now, I use the exact same strategies that I discussed above about creating a course when it came to creating my eBook. My eBook was so popular because I polled my audience and asked them what they wanted to see inside, then I gave it to them!

The book Ask, by Ryan Levesque will teach you how to do this. Don’t neglect the power of the ask =)

Some of the ways I used Ryan’s methods was: I shared the topics I was thinking about including, then asked them what else they wanted to see. I had my audience choose my book cover and I selected a few of them to edit it for me. I sent surveys to my audience to ask them what they needed to learn about the topic and what else they needed help with.

They were truly invested in the experience, which is why I think it was so successful.

How to Monetize Your Blog #5: Affiliate Sales

You can sign up to become an affiliate with just about anything these days! What if you wrote an in-depth blog post about a software you use and include an affiliate link within the post?

Or if you did a video series about a product you love, and again, include the affiliate link!

Or, when you sold a course, you included the affiliate links for anything you used within the course?

Pat Flynn, from Smart Passive Income (I love his podcast!), has tons of strategies to help you get started with affiliate marketing.

Here’s my take on affiliate marketing: If I’m already using and loving the product and I was going to recommend it anyway, I’m gonna sign up to be an affiliate! I will never recommend something that I’ve never used before or don’t love.

As a business owner, having trust with your audience is so important, so be sure if you’re going to do affiliate marketing, you only do so with stuff you use and love, and also, be sure to disclose your affiliate links according to the FTC regulations.

Some of the programs that I’m an affiliate for include:

Pinterest Scheduling Tools

Tailwind *
Board Booster *

Hosting & Plugins

Social Warfare (social sharing plugin)*
Divi Theme (WordPress theme)*
Bluehost (hosting)*

List Building

Lead Pages (create opt-in forms and boxes)*
ClickFunnels (create opt-in forms and boxes, more customization)*
ActiveCampaign*

Graphics

Creative Market (stock photos)*

 

These are ALL programs that I was already using and recommending to others, so I checked to see if they had an affiliate program, and they did (woot!).

Whew! That was a lot of info…but I hope you can start to see the possibilities here!! What if you just made $1,000 per month from each category? That’s $5,000 per month!! 

Which one sounds most appealing to you right now? Pick one and run with it! Just START!! You got this!

Ready to take your biz to the next level? Get free instant access to my online vault of videos, worksheets, and more for female entrepreneurs!

 

Rachel Ngom

Entrepreneur, Author, Pinterest Strategist

 

 

 

 

 

 

 

 

 

 

Hang with me on Insta Stories

Email: clientcare@rachelngom.com

 

“Life is a gift, and it offers us the privilege, opportunity, and responsibility to give something back by becoming more.” Tony Robbins

 

PS. Be sure to join my free online community for female entrepreneurs! Join here.

 
Free 5 Day Lead Generation Challenge!

Free 5 Day Lead Generation Challenge!

I’m hosting a free 5-day challenge alllll about how to generate new leads into your biz (on autopilot) and you’re invited!! The challenge starts on Feb 19th!

Over the 5 days, you’ll learn some of my top strategies that have generated hundreds of new leads every week!!

You will learn:
  • Focus: How to become the ‘go-to’ person in your niche and attract your dream clients
  • Goal setting (hint: you’ve been doing it wrong!)
  • The Power of the Ask: How to create programs that will leave you booked out solid!
  •  …..and a lot more!

You’ll get to chat with me LIVE every day during the challenge and ask me anything (i’m an open book!)

Ready to take your biz to the next level? Get free instant access to my online vault of videos, worksheets, and more for female entrepreneurs!

 

Rachel Ngom

Entrepreneur, Author, Pinterest Strategist

 

 

 

 

 

 

 

 

 

 

Hang with me on Insta Stories

Email: clientcare@rachelngom.com

 

“Life is a gift, and it offers us the privilege, opportunity, and responsibility to give something back by becoming more.” Tony Robbins

 

PS. Be sure to join my free online community for female entrepreneurs! Join here.

 
5 Pinterest Marketing Myths Debunked (they’ll probably surprise you!)

5 Pinterest Marketing Myths Debunked (they’ll probably surprise you!)

It’s no secret that I’m obsessed with Pinterest. I think Pinterest marketing is waaaay overlooked and it’s an incredibly powerful platform!!

How has Pinterest changed my biz? I have over 50,000 Facebook fans and 20,000 on Instagram…and it’s Pinterest that brings in the most blog traffic by FAR (34,000 out of 36,000 visits per month!)

Pinterest has allowed me to grow my email list on autopilot, generate new leads and sales DAILY (for free) and build a business that has grown exponentially over time. #heckyes

I also have the following blogs to help you crush your Pinterest marketing strategy:

And of course, you should def register for my free masterclass where I’ll share my top secret strategies to getting new leads and sales on autopilot with Pinterest!

I work with tons of entrepreneurs who tell me, yea, that’s great for you, Rachel…BUT Pinterest couldn’t work for me.

Yes, yes it can. In this post, I’m going to go over 5 common myths I hear about Pinterest.

Woohoo! You ready?

Pinterest Marketing Myth #1: Pinterest is only for bored housewives

Definitely not! 200 million people use Pinterest! It’s not even possible that those people are all middle-aged women only interested in recipes and DIY stuff.

Pinterest is an insanely powerful platform that serves a variety of interests AND age groups. People come to Pinterest to search for all kinds of things, like career planning, vacations, business tips, etc!

Oh, and the male population on Pinterest is growing too—so it’s not just for women!

Gary Vaynerchuk said: “I’m a HUGE believer in Pinterest’s product. I think Pinterest is an incredibly important platform. Pinterest is the new social network for search. It’s a search engine. People are searching on there and they’re getting a virtual search. We have become way more virtual and I think Google should be shaking in their pants about what’s going on with Pinterest. Pinterest is growing in the male demo because it’s just valuable. It’s converting into a hardcore search engine. It’s going to be an enormously big deal. I am ALL IN on Pinterest. I invested at Vayner RSC at the last round at an 11 BILLION dollar valuation that I think is underpriced massively.

Pinterest Marketing Myth #2: Pinterest is only for recipes and organizational hacks

Nope! Pinterest has featured success stories on the site, and some of the businesses who are crushing it include: Carnival Cruise Line, Lowe’s, Bank of America, BuzzFeed, Caribou Coffee, Cheetos, PetPlan Insurance, Stationmaster Carpet Care, Walgreens, Starz, and Ziploc!

Could those businesses be any more different (said in my best Chandler Bing voice ?).

Seriously though! My fitness business crushed it on Pinterest, and people told me that’s only because of my healthy recipes and that specific niche.

So I started putting THIS business on Pinterest…and guess what? STILL CRUSHING IT!

Some of the awesome rockstars in Pin with Purpose include:

  • Dawn Heller: Designer. Helping people love their homes again by incorporating items from both local and global artists. https://doxfordhill.com/
  • Dr. Lisa Klieger: Doctor of Medical Qigong, Licensed Acupuncturist, adventurer and follower of my Heart. I am on a mission to help sensitive souls create resilient self-love, trust and find their life purpose. Because what the world needs most is you! https://www.lisaklieger.com
  • Adriane K. Hardy: online healthy lifestyle coach, mentor, & motivator. My specialty is fitness for women, & the Whole30. I do this all while being at home with my two little boys 7 days a week & I love it!adrianekhardy.org
  • Susan Thomas: writer and blogger of everything from Fantasy, Poetry, Short Stories, Mom Life, Overcoming Depression, and Epilepsy. www.susanthomasjoyfulliving.com
  • Lori Mercer: Founder of Howshequits.com, the method for you to exit your corporate job and grow a Virtual Professional business using the skills you already have
  • Bhavna Sehgal, Founder & CEO of Wish Me mobile app – the perfect party planning and gifting app for busy families. www.wishme.io
  • Chrissy MoeVibration Snob. Showing people through my example that Vibration is literally EVERYTHING and helping them cultivate the habit of feeling good. Nothing matters more than feeling good. vibrationsnob.com

Pinterest Marketing Myth #3: Follower count is what you should focus on

Nope! Since Pinterest changed the algorithm to the Smart Feed, followers really don’t matter! Pinterest is going to show you content that’s relevant to you, not necessarily pins from people you follow.

What metrics should you focus on? Totally depends on your goals! I personally track my blog traffic (increasing daily with Pinterest!) via Google analytics.

Pinterest Marketing Myth #4: It takes a ton of time to gain traction and I don’t have TIME for another social media platform

Definitely not. You can take your existing content and put it on Pinterest. I literally spend about 10 minutes per week on Pinterest and it’s where I get the most results!!

In my course, Pin with Purpose, I teach you how to automate your Pinterest account using Tailwind…and it’s SO easy!! This post dives into more details about Tailwind, and this post will go over how you can use your existing social media platforms on Pinterest!

Pinterest Marketing Myth #5: I’m not a blogger, so Pinterest won’t work for me

Like I said above, you can repurpose your existing content on Pinterest! Do you have a Facebook live show? Podcast? Youtube channel? As long as you’re creating consistent content, you can crush it on Pinterest. All you need to do is take the FB live or YT video, embed it on your blog, include a transcript or brief description of the video, and a Pinterest image!

If you’re doing a podcast, you can transcribe it using Rev or Trint!

I definitely don’t consider myself a ‘writer’ by any means (heck I barely passed my writing classes in high school!) BUT if you make your main focus adding value and helping others with the content you’re creating, you can absolutely crush it on Pinterest.

Now that you know that Pinterest is insanely powerful and you can use it for YOUR biz, you def need to register for my next Pinterest Masterclass where I’ll teach how some of my top strategies to get started using Pinterest!

QUESTION: Do any of these myths surprise you? Comment below!

Sources: https://blog.tailwindapp.com/pinterest-myths-debunked/, http://business.pinterest.com

Ready to take your biz to the next level? Get free instant access to my online vault of videos, worksheets, and more for female entrepreneurs!

Rachel Ngom

Entrepreneur, Author, Pinterest Strategist

 

 

 

 

 

 

 

 

 

 

Hang with me on Insta Stories

Email: clientcare@rachelngom.com

 

“Life is a gift, and it offers us the privilege, opportunity, and responsibility to give something back by becoming more.” Tony Robbins

 

PS. Be sure to join my free online community for female entrepreneurs! Join here.