I was recently asked a question by a client, and thought you might find it helpful, too.
She's a busy entrepreneur and just started designing a new online program. Here's an excerpt of her email:
"Hey Val, while I've already done some homework on determining my market potential (like polling my FB fans and surveying my email list...) but it doesn't feel like enough. Is there anything else I can do to see if people will actually buy this program?"
Is there ever, I told her.
In case you're in a similar boat -- dreaming up some new service or program, but unsure how big your market is -- Here are two free tools that in my opinion are both super cool and way underused:
1. Google AdWords Keyword Planner
Why I love it: All you have to do is type in a keyword or phrase associated with your product, and you'll find out how many times that word was searched for in the last month. It'll also give you a huge list of other popular, related terms (which is great to use in your copywriting!)
PLUS, you'll also get insight into how much competition you have, as the results will show you if there are a million others offering the same thing, or just a handful. (PS. If you don't already have a Google account, this tool is worth setting one up for.)
2. Facebook Ads Manager
Why I love it: This tool allows you to get really specific with your search parameters (more so than the basic ads feature you access from your FB page when you promote your post.)
Play around with parameters like location, interests, etc. As you do, you'll see the audience size on the right-hand side will fluctuate. This'll give you an idea of how many people are in your target niche. A few hundred might be too small, while millions might be too broad.
This tool is a great way to figure out if you need to refocus and refine until you find that sweet spot!
Now it's your turn: This week, I'd love for you try using at least one tool to see where you stand with your current, or upcoming program and service. Discover some interesting results? I'd love to hear about them. XO