By Fabian Tan
One of the keys to raking in enormous profits with your Internet business is to create a product that people want. The trouble is, most people don’t do adequate research of the market, spend lots of time and money in getting the product created, don’t have a business plan and just “wing it”. Believe me, winging it is not the recipe for success.
Fear not though, there are several ways you can conduct market research to ensure you don’t trip up on your first ever product launch.
Spend a little time on the magazine rack at your local bookstore and study their pages. Which ads catch eye? Most importantly, which ads appear month after month without fail? Those are the ads that bringing in money for the advertisers. If they are advertising every month in that magazine, chances are they product they have is selling well. You can possibly create a complementary product in the same niche market and it will probably do well.
Study their bestseller lists. Study which books are getting the most comments. You’ll want to pay more attention to the non-fiction side of things unless you want to publish a novel.
eBay is a great treasure trove of potential niche product ideas. They have a few pages that show which products are selling like the proverbial hot cakes, include eBay Best Sellers and eBay Pulse. Find a product that is selling well, and perhaps open your own eBay store, become the cost leader, target a sub-market or differentiate your business and you will be in the money zone.
[Ed. Note: Fabian Tan is one of the top 5 Internet Marketing experts in Asia and is the founder and CEO of Unbounded Systems Ltd., a powerhouse that has helped thousands of people worldwide increase their profits. He has been widely known as an action-oriented marketer with a passion for creating unique actionable content, and he has also created an astounding 8 successful products in less than a year. Let Fabian help you make $10,000 to $20,000 per month online with just 30 minutes a day! Click here to get started.]