How to do product research with Google AdWords

Launching a new product on the world market is often a grueling task for many entrepreneurs. It doesn’t matter if this is your first product launch or your hundredth, you never really know how the market will receive it. The “Midas touch” that some successful entrepreneurs seem to have that can predict whether or not a product might be a winner is probably nothing more than solid intelligence at their disposal. Many entrepreneurs do not have the financial resources to conduct extensive market research before creating and bringing a product to market. This includes the use of focus groups and beta testers. How do you know if you want a product if you can’t do traditional research? Is it possible to bypass the usual methods of product research by using Google search as an effective substitute for traditional marketing test groups?

Is it possible to collect research data by running a product-specific AdWords campaign to gain insights into market performance, consumer demand, and the price people are willing to pay? To complete this task, run a series of search marketing ads on Google. Test multiple variables such as product names, different descriptions, price points, and let the data show you winning combinations. Results of testing this product will indicate whether it is beneficial to proceed further.

Need an example of how to do this test? Follow these 3 simple steps using an info product…

You want to sell an e-book you have written. You have in mind 4 potential titles, 5 descriptions, and a price range. You need to get as much information as cheaply and quickly as possible.

1. Test headline variations by setting up 4 AdWords campaigns. Choose only one title for each campaign. Use the title variation in the headline or in one of the two lines of text. Everything else in the Google ad must be the same for all 4 campaigns. At this stage, do not mention the price in your ad. It will only test one variable. Now run the ads and see which one gets the highest click-through rate (CTR). Save the best performer and lose the others.

2. Try 5 different product descriptions with the winning title. You will now set up 5 different Google campaigns with the headline title all being the same. The purpose of this test is to find the winning description. You keep the winner with the highest CTR and lose the others.

3. Test the price to estimate the potential sales conversion rate. You need to run 5 separate AdWords campaigns to test only the best price to sell the eBook. All the variables will be the same except for the price. Each campaign will lead to identical sales pages located on 5 subdomains for tracking purposes. Each subdomain will point to its own autoresponder. To determine which price point leads to the highest potential conversion rate, place an opt-in box located at the bottom of each sales page. This box will contain text on how to put them on a mailing list to be notified when the eBook is published. Note that in the final analysis, it is not the CTR of the Google ad that determines the winner here, but the number of optins each autoresponder received. If they leave a name and email, then they are very interested in the item and get the best potential customers to buy it.

By testing the market with this simple strategy, you’ve built a marketing database and targeted email list. You have positioned your product in front of people hungry for your unique content. By doing this research, you have determined the best headline, description, and price for maximum sales. When you look at it, this market research system is more profitable than traditional ways of collecting market intelligence.

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