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Market Research should dictate your direction for business.
2/22/2008 12:56:25 PM
Market Research should dictate your direction for business.

Many times a day new people enter the internet business arena looking to get rich quick. Many others have been around for some time and yet have to figure out what will make them money. Most will grab whatever they show interest in not looking into the market for what they just joined or started.

How do you expect to sell something IF you don't know if there is a market for it to start with? The so called gurus sell info products on about any topic and have no idea how to back up what they are selling. An example, an ebook on tips to buying distressed properties. Most info may be from PLR articles rehashed and pasted together. Then it's sold and there is no support to the content. Most info products are sold this way.

Now, lets look at other money ?makers? - the affiliate programs, Matrix programs, one ups, two ups, etc. A program should not have to cost you a dime to join. You are their advertiser to sell for commissions so why should you need to pay them to advertise for them? You'll be paying for advertising and your time to get the word out. So why are they charging you?

Let's look at a more realistic idea of a business. You want customers in a demanded product/service. First, this means to do a market research on what's hot. Not what some guru tells you is a money maker. Your buyers in volume are not hanging around peddling to peddlers. So why try selling to sellers? That's the trickery of the guru to make millions. Selling to sellers how to get rich.

If you really want to get into a money making site you need to find out what is selling well to the masses. You can look into what magazine publications are being circulated and the number of printed issues each month. For example, there are many golf magazines and a large print circulation to each one of those magazines. So that says golf is a booming business to be in.

Remember that most spending outside of necessities is impulse spending and is of the ages 6 to 26. Video games are always hot. Music as well. Clothing and teen jewelry. Toys. So, sell as an affiliate for a name brand company, like Nike. Or Walmart. Crate & Barrel. There are many programs like this out there and don't charge a cent to join.

Or, if you are good at something in demand you can write about it in a help guide and sell it. I write drumming/percussion lessons and sell online along with a membership site. Why that field? Something I've known for 30+ yrs and do well in teaching. And with a drumming population in the US alone around 1,000,000 drummers I have a nice size audience. Are they buyers? They always need new drumsticks and drum heads (affiliate sales here). Always need to keep up with the latest songs (MP3 sales here). Always needing to add to the cymbal collection (affiliate sales here). And, of course, the need for any new styles and grooves to songs to be explained and taught (sell my ebooks here). Also, new students need method training (more sales of my ebooks). Plus, the members/students have support on the subject from me or one of the endorsed drummers featured onsite.

So what will you do BEFORE you join or start an online business? I hope you'll take time to do Market Research.

Best to you.

Kenneth R Sword Jr
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Re: Market Research should dictate your direction for business.
2/22/2008 3:56:29 PM
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