Market Research for Product Creation

Does Market Research Seem Like Drudgery?

UGH...

Research, do I have to?

Why is it that market research seems to be such drudgery?

More...

Maybe you don’t see it that way, but many aspiring marketers do.

I know I did until…

looking at it a little differently.

To me it was a necessary mundane thing that needed to be done.

Because of this, I never put enough effort into my research.

This showed in the results, which were…

awful, dismal and sickening.

Recently, I realized that research can actually be fun.

Consider this, when you are planning a vacation, you do extensive research.

Even if you know where you are going and have been there before…

You still research the lowest costs for travel, hotel rooms, etc.

If you are shopping for a new TV or appliance, guess what…

You spend hours upon hours researching which one to buy, right?

It’s like a game, find the most product for the lowest cost.

Make Your Product Research a Game

We find pleasure in searching for that next great deal…

Then, why not turn your product research into a game.

A game that will have greater rewards, financial rewards.

It’s way better than finding the best price on an appliance, or

the lowest airfare and hotel costs.

Great product research equals great profits and…

who doesn’t want that?

This is exactly what I have started to do and you may want to do the same.

What Am I Searching for?

First, I wanted to know…

which niche is getting the most attention right now.

What are the trends showing?

Where are people spending money? Lots of money…

Doing this preliminary review helped me to determine where to invest my time.

Rather than rushing thru this, I took my time. This initial step started to narrow my focus.

Once I knew where I wanted to focus --

It was time to dig in and find that golden nugget. The one that I can profit from.

Now I needed to validate that there was enough interest…

people are spending money, and

There is a pain point my solution would address?

When the answer was YES, I knew I found my destination.

Where Do I Search?

There are many places to choose from. So,

I started with the websites that people shop at online.

It really depends on what your niche is, but mine led me to JVZoo and Clickbank.

These 2 sites helped me to validate that people are buying products in my niche.

I also looked at Amazon and Magazine.com. Further validation. 

There are other places to look, but I had found enough to know.

There are other places to research...

niche forums, Google searches, Warrior Forum, and more. 

Put All This Information to Work

While I was doing my research, I took notes and saved information. I figured this would be a good foundation for my product. 

I’ve done all this research and found my golden nugget, now what?

I put the information that I gathered to work. 

I’ve got keywords, ideas on content, and more.

Honestly, with the information that was gathered, the product will almost write itself.

Now all I have to do is start writing based on the knowledge I gathered.

So, why did I see research as such a mundane, boring process? 

Probably because I didn’t see it for what it really is.

I hope this helps you with your product creation process.

Tell me what you think, leave a comment below.


Summary:

  • Begin by Doing Your Market Research to Determine Your Niche
  • Make Your Product Research more like a game. Remove the drudgery
  • Decide what you want to research to narrow your focus
  • Determine the best places to do research based on Your Niche
  • Put Your research to Work. It will help you build your product
David Wakeman
 

The creator of WPNoBounce, a WordPress plugin that reduces the bounce rate and improves visitor engagement on any website. Much of my time is spent learning new skills, reading, and helping others reach their goals and dreams. I love to play golf and enjoy spending time with family and friends. God is first and foremost the focus of my life and sharing the love and peace that I get from this is the most important thing that I do.

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