Internet Marketing – Market Research
One of the biggest failings of wannabe Internet Marketers is they create a product believing there is a market out there. They do no research and just put up a web page and sit back to watch the tumbleweed drifting past.
Then of course they stomp around cursing Internet Marketing and how it is all hype and rubbish.
If a shop opened in your area and they had not researched the market to make sure there's a demand for their services, how long do you think they'd be open for? Not long. There is no point a bank demanding a million dollar minimum deposit opening up in a Ghetto.
As an Internet Marketer you are in business to make money and to provide products and services to a hungry market. You need to make sure that any products you create have a market that is keen and eager to purchase.
How do you do this?
Exactly the same way as it is done offline.
Have you ever seen people in the streets or in malls asking questions and taking surveys? Have you ever participated in one?
What are they doing? They are finding out what people want – they are doing market research to discover if there is a demand for products and services.
Obviously, you need to do the same online and discover what the market wants. Of course, online it can be a lot more difficult because there are so many different people and so many different ways of contacting them.
One of the best ways is to visit a site like Amazon or eBay and see what the best selling products are. When you have these niche topics, you can then do further research – look at forums, use a search engine and discover what is on the market.
Remember something though – just because there is not any products in a niche does not mean you are sitting on a goldmine. That particular niche may not be very responsive to offers, may not have any money or may not be interested in buying products. You need to do further research to make sure the niche is responsive and that they will spend money.
The next task is to identify what the people in this niche want to buy. You can do this by taking a survey – throw up a webpage, ask some questions and reward those who answer it. Drive traffic to the site and you will start to learn what your target niche wants. You can also visit relevant forums and other sites to discover what people are talking about and what the hot topics are.
Once you know this information, you can create your products knowing that there is a market out there and that you can tap into it. Knowing this, you can invest your money and be much more secure in the knowledge that you are going to get a return on investment.