How to validate your digital product idea before investing in development

How to validate your digital product idea before investing in development

So you’ve got an amazing idea for a digital product. You’ve daydreamed about being the next Mark Zuckerberg, making millions of dollars and living your best life. But before you start designing logos and coding, it’s important to make sure your idea can actually generate some cash. Here’s how to validate your idea before investing in development.

Ask your friends and family (but take their opinions with a grain of salt)

Your friends and family will always have your back, but when it comes to business decisions, they may not be the most objective source. Ask them what they think of your idea, but also take it with a grain of salt. Remember that they love you and want to support you, but they may not be your target audience.

Do your research

You need to thoroughly research your potential market to see if there is demand for your product. Use Google and social media to see if people are talking about your idea. Check out similar products and see if they’re successful or if there are any complaints from consumers. Additionally, identify any potential roadblocks, such as regulations or competition.

Create a landing page

Creating a landing page can also help validate your digital product idea. It’s an opportunity to see if people are interested enough in your proposed product to give their email address. Once you have a list of potential customers, you can interact with them and ask for feedback on your product, such as what features they would like to see and how much they would be willing to spend.

Join online communities and forums

Joining forums and online communities relevant to your idea is a great way to learn about your audience and gather insights on how they think and behave. You can read through threads and posts to see if anyone is already talking about your idea or if there is a need that isn’t being met. You can also ask questions and get feedback from potential customers, which can help you refine and improve your idea.

Consider a crowdfunding campaign

If you want to go all-in and actually start producing your product, launching a crowdfunding campaign can help you gauge interest in real-time. With a crowdfunding campaign, you can see if people are willing to put their money where their mouth is and actually invest in your idea. It can also help you identify your target audience and build buzz around your product before it’s even released.

Validating your digital product idea before investing in development is crucial for success. By researching your market, gathering feedback, and considering crowdfunding, you can assess whether your product has a future and make smart business decisions.

About Author

By Kathleen Celmins

Kathleen is a desert-dwelling yogi who helps agency owners and service providers uncover a $100,000 revenue stream without having to create anything new. Every business owner who has been working for at least a few years has $100,000 just sitting in their digital files, collecting digital dust. She helps them uncover those income streams, leverage their expertise, and package it properly.