How To Validate Digital Product Ideas 2022 (Guaranteed Success)

Summary

This script offers strategies for validating digital product ideas, emphasizing landing page creation for interest-based validation and pre-sale validation for more accurate data. It advises on using email automation and early bird discounts to boost conversions. The speaker also recommends researching search volume, trends, existing content, and competition before launching. Influencer marketing is suggested as a cost-effective alternative to ads for testing multiple products.

Takeaways

• 🌐 **Interest-Based Validation**: Create a landing page showcasing your product idea and collect email addresses from interested parties.
• 📅 **Timing is Key**: Mention an exact launch date rather than saying 'soon' to build anticipation.
• 💌 **Email Automation**: Utilize email automation software to manage and notify interested subscribers.
• 🎁 **Freebies for Engagement**: Offer additional freebies to collect emails and re-market to potential customers.
• ⚠️ **Caution with Freebies**: Be wary of distractions that might reduce actual product conversions.
• 💸 **Pre-Sale Validation**: Conduct a pre-sale to validate interest and gather funds before product creation.
• 💰 **Funding Before Creation**: Use pre-sale funds to finance product development or outsourcing.
• 📉 **Conversion Rates**: Be aware that pre-sales might have lower conversion rates due to the 'not yet available' status.
• 💡 **Incentives for Conversion**: Offer early bird or pre-launch discounts to boost conversion rates.
• 🚀 **Driving Traffic**: Consider influencer marketing over ads for a potentially larger reach with a smaller budget.
• 🔍 **Market Research**: Investigate search volume, trends, existing content, and competition before launching validation methods.

Q & A

What is the simplest way to validate a digital product idea?

The simplest way to validate a digital product idea is through interest-based validation. This involves creating a landing page that highlights the product's benefits and features, and collecting email addresses of interested users for a pre-launch.

Why is it important to set a specific launch date during product validation?

Setting a specific launch date creates a sense of urgency and commitment for potential customers. It also makes your product feel more real and increases the likelihood that people will opt-in to learn more or purchase it.

What are the potential downsides of using email collection as a validation method?

The main downside is that people expressing interest by providing their email does not guarantee they will purchase the product once it is available. Additionally, some potential buyers might miss the email notification about the product launch.

What is pre-sale validation, and how is it different from interest-based validation?

Pre-sale validation involves not just collecting interest but actually selling the product before it's created. Customers pay for the product, knowing it will be delivered later. This provides more accurate data on buyer commitment compared to interest-based validation.

What is a key benefit of using pre-sale validation?

A key benefit of pre-sale validation is that it allows you to generate funds before creating the product, which can be used to cover development costs. It also provides more accurate data on the number of customers willing to purchase.

What is a potential challenge of pre-sale validation?

A challenge of pre-sale validation is that if the product doesn't receive enough interest, you may need to refund the customers, which can be inconvenient and could negatively affect your payment gateway reputation.

How can offering an early bird discount improve conversion rates during pre-sale validation?

Offering an early bird or pre-launch discount can incentivize more people to purchase the product early, which helps boost conversion rates even though the product isn't immediately available.

What are some non-paid methods to drive traffic to product validation pages?

Non-paid methods include partnering with influencers on platforms like Instagram, TikTok, or YouTube. This can be more cost-effective than ads, especially for reaching a larger, more targeted audience.

Why can using ads for product validation be costly?

Using ads can be costly because it takes time and money for the ad algorithms to optimize and identify the ideal audience for your product. Testing multiple products can quickly increase the cost, especially with limited budget.

What steps should be taken before starting product validation through ads or landing pages?

Before starting product validation, you should research search volume, analyze trends on Google Trends, check whether content is being created around similar topics, identify if there’s a problem your product solves, and review the competition to ensure market interest.

Outlines

00:00

🌐 Digital Product Validation: Interest-Based Approach

The speaker introduces the concept of validating a digital product idea using interest-based validation. This method involves creating a landing page that showcases the product's features and benefits as if it already exists. The landing page should include a pre-launch announcement with an opt-in form for interested parties to leave their email addresses for updates. The speaker suggests using free software with drag-and-drop features to create the landing page and email automation tools for managing the collected emails. A pro tip is offered to consider giving away a freebie to collect emails even if the visitors are not interested in the product, allowing for future remarketing. However, caution is advised as this could lead to distractions and potentially lower conversions for the actual product. The speaker also warns that expressing interest does not guarantee a purchase and that many who sign up may not follow through. Additionally, the timing of the product launch and the potential for missed emails are discussed as factors that could affect the success of this validation method.

05:01

💼 Advanced Validation: Pre-Sale Strategy

The second paragraph discusses a more advanced validation method: pre-sale validation. This approach involves setting up a sales page where customers can actually purchase the product before it is created, with the understanding that it will be delivered at a future date. This method provides more accurate data on conversions since it involves actual monetary transactions. The speaker suggests using the funds from pre-sales to finance the product creation, especially if outsourcing is required. Potential downsides include the need to refund customers if the product idea is abandoned and the risk of lower conversion rates due to the product's unavailability. To mitigate this, offering early bird discounts can boost conversion rates. The speaker also addresses the importance of driving traffic to the validation methods, suggesting influencer marketing as a cost-effective alternative to ads, especially when testing multiple products with a limited budget.

10:03

🔍 Initial Steps for Digital Product Validation

The final paragraph emphasizes the preliminary steps to take before engaging in product validation methods. These steps include researching search volume using plugins, checking trends on Google Trends, assessing the popularity of related content, identifying if there's a problem that the product can solve by looking at forums and social media, and evaluating competition within and outside the niche. The speaker advises that these steps are often overlooked but are crucial for a successful validation process. The paragraph concludes with an invitation to check out the speaker's website for additional resources, engage on social media platforms, and provides a call to action for viewers to like, subscribe, and turn on notifications for future content.

Keywords

💡Digital Product Validation

Digital product validation is the process of confirming whether there is a demand for a digital product before fully developing it. In the video, this is discussed through methods such as interest-based validation and pre-sale validation, which help determine if potential customers are willing to engage with or pay for the product.

💡Interest-Based Validation

Interest-based validation involves gauging interest in a digital product by creating a landing page that showcases the product's benefits and asking visitors to provide their email address if they are interested. This method helps measure initial customer interest without requiring a significant investment in creating the full product.

💡Pre-Sale Validation

Pre-sale validation is a more advanced validation method where customers are asked to pay for a product before it is fully created, with an understanding that it will be delivered later. This approach helps gather more accurate data on potential sales and can provide funds to develop the product, but it also involves the risk of refunding if the product doesn't proceed.

💡Landing Page

A landing page is a standalone web page created specifically for a marketing or advertising campaign, often used for product validation. In the video, landing pages are used to showcase the product, explain its benefits, and gather customer information or pre-sales, making it a crucial tool in both interest-based and pre-sale validation.

💡Email Opt-In

An email opt-in is a feature on the landing page where potential customers can submit their email addresses to receive updates about a product's launch. This technique is used in interest-based validation to measure interest, as well as to build an email list for future marketing efforts.

💡Influencer Marketing

Influencer marketing involves partnering with social media personalities or content creators to promote a product. In the video, it is suggested as a cost-effective way to drive traffic to the product validation page instead of using ads, particularly when the budget is limited and precise targeting is needed.

💡Search Volume

Search volume refers to the number of searches for a specific keyword or topic over a given period. Analyzing search volume is one of the preliminary steps in product validation to determine whether there is sufficient interest in the niche or product idea, providing insight into the potential market size.

💡Google Trends

Google Trends is a tool used to analyze the popularity of search queries over time. In the video, it is recommended to use Google Trends to determine whether the interest in a product idea is increasing or decreasing, which helps decide whether the product has long-term potential.

💡Remarketing

Remarketing is the process of targeting individuals who have previously shown interest in a product but have not made a purchase. The video mentions using email automation to send follow-up messages to those who provided their email during interest-based validation, aiming to convert them into customers once the product launches.

💡Early Bird Discount

An early bird discount is a special promotional price offered to customers who purchase a product before its official launch. This strategy is used in pre-sale validation to increase conversion rates by incentivizing customers to commit to purchasing a product before it is fully developed.

Highlights

Interest-based validation is the easiest way to validate a digital product idea.

Create a landing page showcasing your product as if it already exists.

Use drag-and-drop software to create your landing page for free.

Include an opt-in form for email addresses of interested customers.

Mention a specific pre-launch date rather than saying 'soon'.

Consider offering a freebie to collect email addresses even if there's no interest.

Be cautious about distractions when offering additional freebies.

Interest expressed does not guarantee a purchase.

People who express interest may not see the launch email.

Some customers may want the product immediately and not wait for the launch.

Pre-sale validation involves actually selling the product before it's created.

Pre-sale allows you to collect funds before creating the product.

Offer early bird or pre-launch discounts to increase conversion rates.

Driving traffic is crucial for validation; consider influencer marketing over ads.

Influencer marketing can reach a larger audience for the same budget.

Before validation, check search volume and trends for your product idea.

Ensure there is existing content and interest around your product niche.

Identify if people have a problem that your product can solve.

Examine the competition to understand the market for similar products.

Use the provided freebies and resources for further assistance.

Engage with the creator's social media for growth hacks and updates.

Transcripts

there are a couple different ways how

you can validate your digital product

idea based on your resources and aside

from that I'm also going to give you

some tips that can either break or make

your digital product validation so first

of all we got interest based validation

so this is the easiest way how to go

about trying to validate your product

idea first of all what you need to do is

you need to just create a landing page

and I'll leave some of the softwares

that allow you to do this for free and

very very simply would drag and drop

options so you want to create a landing

page that showcases all of the different

things about your product as if you

already have the product so all of the

outcomes the benefits if you want to

include Futures all of these type of

different things and what you want to

say is that you are pre-launching this

product so this product is coming out

it's the best if you can say exact date

rather than just saying it's launching

soon and you have an opt-in form for

people to put in their email address if

they are interested so then they will

get notified once you actually launch

your product so this is the easiest way

because you really just need to create a

landing page and that is it and you just

collect those email addresses you just

use an email automation software again I

will leave some of the links where you

can do this very very simply but

basically you don't need to do anything

else aside from that a little Pro tip if

you are already putting in so much work

and effort getting people to that page

if they're not really interested in your

digital products you can still give out

another freebie so you still collect

their email addresses and then you'll be

able to remarket to them test different

product offers so on and so forth

however do you be cautious about this

because

usually when you are selling a specific

thing you don't really want to have any

additional distractions so do you take

this with a pinch of salt that this

might also result in you having less

conversions for your actual product but

this is just something additional that

you might want to consider so the pros

of this are obviously that it's a very

simple way to set up this kind of

testing however obviously there are

certain cons as well a lot of people

make a mistake that they think oh if

someone told me that they are interested

in this they actually even told me yes

once the product comes out they are

going to make purchase

honestly that really doesn't mean

anything unless people actually make

that purchase them telling that they are

interested or telling that they're going

to purchase honestly does not mean

anything so you have to understand that

this data is not going to be as accurate

because all of those people that said

they're interested once you have your

product a whole bunch of them believe me

a whole bunch of them are not going to

actually make the purchase also another

thing is that if you do remarket to

those people you do send them an email

later on once you decide for example if

you are going with a digital product not

everyone is going to see that email so

there might have been some people that

put in their email and they actually

want to purchase the product they might

have purchased the product on the spot

but later on they simply do not see your

email that you have launched your

product and of course also because you

are are telling people that you are

launching this in the future not right

now a lot of people might want that

specific product right there and then

especially because it's a digital

product so there is going to be a chunk

of people as well that might have

otherwise purchased however because

there is some weight they are going to

drop out by the way I have some very

useful freebies on my website some free

best digital product ideas so do check

out all of the links in the description

and make sure to follow me on my social

media on my Instagram Twitter on my Tick

Tock where I have some very quick and

actionable growth hacks alright so the

second way is pre-sale validation so

this is a little bit more advanced what

you want to do first of all you want to

create again a sales page a landing page

however the difference here is that

instead of of just saying I am

pre-launching this soon and leave your

email address here you are doing a

pre-sale so you are actually selling the

product letting people to purchase a

product but letting them know at the

same time that the product is not

created yet and it's coming out at a

certain date so the purpose here is that

this data is going to be much more

accurate because people are actually

putting their money so you can

understand how many people are going to

convert and the really cool thing here

as well about this method is that you

can get all of the money for sales

before you actually even created your

product so then you can take that money

and use that in creating your product if

you're not creating your product

yourself if you're Outsourcing which I

do suggest and again I'll leave some

links for places where you can find

people to Outsource of course there

might be some cons as well so as I I

mentioned before the same as with the

first method there might be some people

that are not going to make the purchase

right away just because they might need

that product right now and they're not

willing to wait a little bit longer and

the main problem with this method is

that if you decide that you're not

really going with that specific product

and usually I suggest you try a few

different products and see what actually

works but if you decide that you didn't

get enough sales and attraction not high

enough conversion rate then you will

need to refund those people and that can

be kind of annoying and cannot and might

not look good for your payment Gateway

depending on what kind of payment

Gateway you're using a little tip here

because as I said you might have lower

conversion rates due to the product not

being ready right there what you can do

is you can give a special early bird

discount on your or like pre-launch

discount on your product so that is

obviously going to increase your

conversion rate so just make sure that

you don't give out too big of a discount

where it doesn't really reflect what

it's going to sell like when the price

is going to go back to normal however

you can use a little bit of incentive to

see how that affects your conversion

rate now the very important question is

how do you actually Drive traffic to

these different validation methods and

there are obviously so many different

ways how you can drive traffic a lot of

people they want to go straight into ads

and that's going to work great for a lot

of different cases however if you are

testing a few different products and I

suggest that you do try different

products

you will need to spend quite a bit of

money to optimize Those ads so for

example if you have only let's say a

couple hundred dollars to spend on your

ads to test out whether a product is

going to work or not because also

consider if you have 10 different

products that might turn into a couple

thousand dollars or so just for testing

the validation of an idea so what this

means is the way ads work in general you

start spending some money on the ads and

at first the ads have to figure out who

exactly is the best the perfect customer

for that specific product and that takes

time ads just don't as good as the

algorithms are and they are very very

good it takes time to optimize it takes

money and time to actually figure out

for the ads who is the best potential

customer so if you have just a couple

hundred dollars it's going to be

difficult for you to really properly

validate the idea using ads because it's

just not going to be enough data points

and I'm not saying that you can't do

that if it works for you it works for

you that's great however what I would

suggest if you don't have a huge budget

instead of running ads what you can do

is you can find some influencers whether

it's someone on Instagram or some blogs

or Tick Tock whatever YouTubers whatever

it actually is you can ask them to do a

promotion for you because if you are

already going to spend those couple

hundred dollars with ads on an audience

that's not so well optimized you might

as well do that with influencer

marketing and you're going to probably

if you do this right you're going to hit

much larger audience for the same amount

of money so those G methods are really

something that you must must do that I

see every single person out there

skipping but aside from that before you

even get into those validation methods

what you need to do is you need to take

some basic steps so the obvious step you

want to do first of all is you want to

look into the search volume so look into

your idea related topics the niche

itself just look what are the numbers so

there are a lot of different plugins

again I'll try to leave some of the

links but basically they show you what

exactly is the search volume for a

specific keyword then you want to also

check Trends so just go to Google Trends

type in your product idea your Niche

whatever it is and just see whether that

is going up or down to understand

whether this is good investment over

longer period of time you want to see

also whether there is good content out

there about your specific product so it

doesn't have to be exactly your specific

product but something that is around

that topic is there content being

created that's very popular among people

that's good indication for you that

there is a lot of interest kind of

related to that as well you want to

see whether people are actually having a

certain problem that you are solving so

once again if you go on forums you go on

social media wherever it is you want to

see whether people complain about a

certain thing that your product can

actually fix and lastly you want to see

whether there is competition again

competition might not be creating

exactly same product this is a nice

thing about digital products that you

can create all of the different kind of

product that no one might have created

before so it's better than physical

products in that sense but in general

you want to still find some competition

someone who's selling similar maybe ish

products within your Niche or you can

even go outside of your Niche if it's a

similar product but in a different Niche

and see how exactly that is performing

so hope you found this useful as I said

I have some very very useful freebies so

do check out all of the links in the

description if you have any questions

leave them down below in the comments

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