How Do I Know What Product To Sell?

By: Peter Phillips
Submitted: 2007-11-23 13:38:41
Print this article | Tell a friend | For publisher | Social Bookmarking
Rating:
 

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.

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: Expert Articles

Most Recent Articles in Internet Marketing category

  • How To Avoid Internet Marketing Mistakes? - By: Amar Dhaliwal
    Have you ever wondered how can you possibly figure out how to market your Internet business when you're bombarded with so much conflicting information? Lots of "how to" advice applies to many online businesses. But avoiding common marketing mistakes will work for EVERY business.
  • Earning Money Online: Do It The Smart Way - By: Dennis Boesen
    Millions of people all over the globe are earning money online from their homes. If they can do it then why not you! Yes, you can also earn money online by being a little serious about this part time profession.
  • 6 Vital Components about Internet Marketing - By: Manish Gaur
    Set up a Web Site , It will make or break your success in terms of the number of copies your e-book sells, and the revenue and profit you ultimately receive from sales of your e-book.
  • What Is Right Thing In Internet Marketing Strategy? - By: Jagmohan Gusain
    The beauty of the internet is it constantly evolve and open for change. You will quickly find out that there is not one right internet marketing strategy to have success. If this were the case, wouldn't everyone be applying strategy to business?
  • How to Choose the Best SEO Consultant or Marketing Consultant - By: Joel McLaughlin
    Choosing the best SEO consultant or marketing consultant to help your website succeed may seem like a daunting task, but so long as you know what to look for; selecting an SEO consultant or marketing consultant can be relatively easy. Hiring an SEO consultant can help you to not only make sure that you'll have a perfectly-optimized website to help drive traffic to you, but you will also learn the proper way to optimize your site so that you can apply what you learn to any changes or new websites that you make down the line. Likewise, a marketing consultant can help you to create the right website content to best promote your business or products.
  • How Do YOU Go About Finding An Internet Marketing Expert? - By: Brett Symonds
    It never ceases to amaze me how many otherwise intelligent people set-up a website, without any type of plan or clue about how to promote it, how to write a sales letter, how to write an ad--nothing! Fact is, nowadays, anyone can have a website. But once you get one, then what? How are you going to make money with it?
  • Marketing Firms Keep Increasing Their Search Engine Marketing Departments - By: Joel McLaughlin
    Search engine marketing is a tool that helps you remove the material that isn't getting noticed and tap into the inner beauty of your site that is attractive and memorable. Essentially this process works to remove everything but the core beauty of your business dream.
  • Internet And Online Marketing Secrets - By: Ajay Sharma
    There are a plethora of things you can do online and of all the things you can do online, there is one that you should definitely know how to do. MARKET YOUR OWN BUSINESS ONLINE! Now with the incredible power of the Online World to reach millions of people, online marketing is definitely an amazing tool that every business should utilize. The simple fact that advertising is can be very low cost and sometimes even practically free. The ability to get the results of thousands of dollars in free publicity is practically unheard of in the business world today. Only recently have more and more people figured out how to utilize the ever exploding online world to market their business ventures. There is probably isn't a business in existence that wouldn't benefit from free publicity! The fact that properly utilizing free and low cost advertising raises net profits to unbelievable levels! For more details visit to www.freeearningtips.com .Using any or all of the major online services can help you market your business efforts.
  • Internet Marketing - Powerful and Effective Marketing Tool - By: Japinder Singh
    Today, in the new age of technology, the internet is a powerful and effective marketing tool for many companies as its presence directly affects the success of a business. Many business owners believe that having a website of its own enhances more business growth. Popularity of internet marketing is growing for the fact that it is convenient, less time consuming and ensures larger growth.
  • Use Ebooks To Build Your Mailing List - By: Anu G Khurana
    How to make money from affiliate ebooks without selling them; How to use ebooks and ebay to build your mailing list and how to use ebooks to drive more visitors to your site?