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2 Steps to Creating Innovative Products

April 13, 2012 | Comments: 0 | Views: 137

In this article I will take you through two ways to come up with innovative ideas for your products. Be aware innovative ideas are not necessarily profitable ideas but the methods I will show you should ensure that there is indeed a market of buyers who want and are willing to buy your products. However I would advise additional research to check out the profitability of your intended product before you get too involved in the creation process.

My first suggestion for coming up with innovative product ideas is to check out your competition. Here's how I suggest that you do this. Go to Google and type in the name of your product or the main keywords that describe what your product is about. To do a quick profitability check look at the total number of results, obviously you want it to be several hundreds of thousands or more, and also see if all the paid for ad slots are filled. If this checks out then you want to visit the websites of all the organic listings on the first page i.e. not the paid ads. Read them and study them as if you were a potential customer. Make notes of the things that attract you and that you think they do well. However if you are looking for innovative ideas then you don't just want to copy what they do and so you need to look out for gaps in what they offer or things that they do poorly. These will help you to design your product so that you stick out from the crowd and are, therefore, not in direct competition with these sites.

The second and possibly more powerful way to identify unique product ideas is to communicate with your potential market. You want to find out what their current and most urgent challenges are within your niche. You want to ask them what help and advice they really need that they can't find elsewhere. If you already have an email list of appropriate subscribers then this should be as easy as sending out an email asking these questions. To improve your response rate you could offer an incentive such as a free report ebook. If you really want to dig deep then I'd suggest that you offer those that respond the opportunity to have a short, free consultation call with you to discuss their challenges in more detail and help them come up with possible solutions. This last tactic could also lead to them wanting to work with you further either through a coaching programme or one-to-one.

If you don't have an email list or it's not very big yet then there are other ways to get a conversation going with your target audience. Do a Google search to find appropriate forums or groups that you can get involved in. Offline you could look for local networking opportunities.

By the way do you want more information about creating products?

If so, download my brand new free eBook, Lead Generating Ebooks.

Source: EzineArticles
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