What It Takes to Start a Successful Product-Based Business - Jacqueline Snyder

In this episode of the Insight Out podcast, I have an insightful conversation with Jacqueline Snyder Founder and CEO of The Product Boss, and the Shop 1-in-5 Pledge. We discuss key strategies for product-based businesses, like understanding your niche market and tailoring products to meet specific customer needs. Jacqueline shares insights from her own journey with Cuffs Couture, highlighting the importance of market research and customer understanding. We also touch on effective brand messaging, standing out in crowded markets, and the benefits of focusing on core products. Jacqueline mentions Stanley's success story, focusing on their use of influencer marketing and irresistible offers for customers. Lastly, Jacqueline reflects on personal growth, crediting mentorship for part of her development. In this episode, you will learn the following: Importance of understanding the niche and ideal customer in a product-based business Tailoring products to meet specific customer needs and desires Leveraging personal experiences and upbringing to drive entrepreneurial spirit Identifying niche market opportunities and leveraging unfair advantages Foundational pillars of starting a product-based business Developing a listener avatar and nailing down brand messaging Standing out in a crowded market and matching the target buyer avatar with the product Differentiating oneself in a crowded market and understanding customer needs, wants, and desires Nailing the offer and pricing, focusing on best-selling products Leveraging influencer marketing, creating irresistible offers, and building an audience and community In This Episode: [00:01:53] - Introduction to Jacqueline Snyder. [00:03:06] - Influential Family. [00:05:09] - Early Entrepreneurship. [00:07:54] - Creating Cuffs Couture. [00:11:50] - Nailing the Niche. [00:15:55] - Ideal Customer Avatar Exercise. [00:18:54] - Developing a Listener Avatar. [00:19:24] - Niche Down and Core Product. [00:20:52] - Brand Messaging and Standing Out. [00:27:52] - Market Research and Branding. [00:31:49] - Offer Strategy and Hero Products. [00:37:39] - The Stanley Mug Success Story. [00:39:43] - Creating Irresistible Offers. [00:41:43] - Driving Demand and Community Engagement. [00:43:45] - Nailing the Marketing. [00:47:17] - Directing Customer Action through Marketing. [00:48:02] - Mindset and Personal Growth. Notable Quotes  [14:31] "You have to come up with exactly who that person is and what the pain point is you're solving with the product." - Jacqueline Snyder [38:12] "Stanley is so cool because 110 years later, they jumped from a $90 million a year company to $750 million last year off of this new product."” - Jacqueline Snyder [39:43] "One way that I see people creating irresistible offers is by creating scarcity of product, right? So creating demand, creating this FOMO sort of feeling." - Jacqueline Snyder [41:43] "People are voyeuristic; they want to see behind the scenes. They want to see how things are made." - Jacqueline Snyder Resources and Links Jacqueline Synder https://www.linkedin.com/in/jacqueline-snyder-tpb/ https://www.instagram.com/theproductboss/ https://www.youtube.com/@TheProductBoss Website designerconsultingcoop.com/ theproductboss.com Billy Samoa https://www.facebook.com/BillySamoaSaleebey/ https://twitter.com/BillySamoa https://www.instagram.com/billysamoa/ https://www.youtube.com/@BillySamoa https://www.linkedin.com/in/billysamoa/ This is an encore episode and was originally published on April 12, 2024. Learn more about your ad choices. Visit megaphone.fm/adchoices