Here's a good article outlining some of the things you should be familiar with when choosing a product line for your online business.
Successful internet marketers invariably follow this sequence when deciding what products to sell or promote:
· Find out what people want
· Supply a product which fills that need
· Get their customers to buy that product
It really does all come down to that simple sequence of events: too many beginners put the second one before the first one, and then wonder why they can’t sell anything. It’s no use being an expert on esoteric subjects like the nocturnal habits of whales - no one is interested. It is much better to be an “almost-expert” on something which is much more popular, like a particular breed of dog.
So, how do you find a niche market? The first thing to do is to find out what is hot at the moment, or what is perennially hot. That means doing some research, and this can be as simple as going to the local newsagents and looking at the magazines there. You now know that they have a loyal following, or they wouldn’t be published. If the topic interests you, buy a few copies and look in the ads at the back. If you see the same ads appearing issue after issue you will know that those ads are attracting buyers. Advertisers will keep changing the format of their ad until they find one that drags in the buyers, so those repeating ads are successful ads.
You could also go to eBay and see what is selling there, what people are searching for. Another quick and easy source of hot topic research is to go to Amazon - they too have a list of their best sellers. Join lots of forums and look for popular threads like “How do I …………(whatever)” Check out the replies - you could print them all out, completely rewrite them into a logical sequence, use your eBook compiler and eBook cover software and you will probably end up with a good selling product.
You will also need to find out the competition in that market, by using a keyword analysis tool. I use a product called Micro Niche Finder which I find invaluable, but Google has a keyword research tool on their home page, and you could also use a free trial of Wordtracker. Don’t worry if there is a dominant product on the market, especially if it’s relatively expensive, in fact that could be a good thing. Go to a site like Rent-a-coder and ask for a quote to do a “lite” version of the expensive market leader. Get the software written and you now have a top selling product that you know people were prepared to spend big money on.
There is a caution with the really popular markets, especially if you intend to use Adwords, which are by far the quickest method of getting visitors to your site. For instance the Adwords bids on a popular search term like “weight loss” would be way out of your league.
You should also beware of markets where there is little competition - ask yourself why there is no competition. It is highly unlikely that it is because no one else has though of it, it is much more likely that there are no buyers in that market. This raises an important point - your aim is not to find a market where there is no competition, but to find a market where you can outperform the competition that is there.
Therefore, four factors need to be taken into consideration are:
· Not enough demand - you won’t sell anything
· Too much competition - you’ll get lost in the crowd
· Adwords bids in your market are too high - the returns won’t justify the expense
· Not enough general interest - you must have something people are searching for in the search engines.
About the Author:
Peter Phillips is an accountant and writer living in Canberra, Australia For your niche fining product, go to: Micro Niche Finder. For other opportunities, visit: http://www.money-makingopportunities.com
Article Source: www.iSnare.com
No comments:
Post a Comment