Building a brand - Testing the market

Following these steps will help you start to measure your demand while building your own brand!

1.    CARE

You need to care about the problem you are going to solve, and there has to be a sizable number of other people who also care. Always remember the lesson of convergence: the way your idea intersects with what other people value. If they don’t value and or need what your offering there is zero demand!

2.    Be a BIG fish in a small pond

Make sure the market is big enough. Test the size by checking the number and relevancy of Google keywords—the same keywords you would use if you were trying to find your product. Think about key- words that people would use to find a solution to their problem. If you were looking for your own product online but didn’t know it existed, what keywords would you search for? Pay attention to the top and right sides of the results pages, where the ads are displayed.

3.    Focus on the PAIN

Focus on eliminating “blatant admitted pain.” The product needs to solve a problem that causes pain that the individual (market) knows it has. It’s easier to sell to someone who knows they have a problem and are convinced they need a solution than it is to persuade someone that they have a problem that needs solving.

4.    Remove their PAIN

Almost everything that is being sold is for either a deep pain or a deep desire. Example: people buy luxury items for respect and status, but on a deeper level they actually want to be loved. Having something that removes pain may be more effective then realising a desire. You need to show people how you can help remove or reduce pain.

5.    Provide SOLUTIONS

Always think in terms of solutions. Make sure your solution is far different and much better. (NB: It doesn’t need to be cheaper—competing on price is actually a losing proposition.) Is the market frustrated with the current solution? Being different isn’t enough; differentiation that makes you better is what’s required. There’s no point in introducing something if the market is already satisfied with the solution—your solution must be different or better. It’s significance, not size, that matters.

6.    Get quality FEEDBACK

Ask others about your idea, but make sure the people you ask are your potential target market. Others may provide insignificant feedback and are therefore biased and uninformed. Create a persona: the one person who would benefit the most from your idea. Take a look at your whole network—community, friends, family, social networks—and ask yourself if any of these people match your ideal customer. Take your idea to this person and discuss it with him or her in detail. This will get you much more relevant feedback and ideas than talking to your buddies.

7.    Build a COMMUNITY

Create an outline for what you are doing and show it to a subgroup of your community. Ask them to test it for free in return for feed- back and confidentiality. People actually love to get involved and give opinions. Giving builds trust and value and also gives you an opportunity to alter the whole solution, making it more market appropriate.

8.     Build BRAND awareness

Use a blog to build authority and expertise on a subject. Leave comments on blogs where your target audience hangs out and watch your network AND your brand build!

 

Remember - You are not alone…. You have a whole tribe of women within the IWOP network with a variety of skills, backgrounds and experience ready to share and care.

 

Till next Thursday, STAY INSPIRED #TGIT

Author Tamara Awudu - Owner/Founder Purple Cow Business Consulting