The Importance
of Finding Your Market: How and Why You Absolutely MUST Research Your
Market FIRST
In order to create your own product, you must first start with a
topic. Actually, this should be the fun part of product
creation. But, how do you choose a topic?
That’s easy! First find a hungry group of buyers
and then find a topic that either solves a problem which they have or
benefits them in some other way.
Many info product creators simply start creating a product on a
given topic, and then, once the product is finished, they will look for
buyers. Well, I'm here to tell you that this is the wrong way
of approaching info product creation.
Wouldn't you be better off if you created a product specifically for an
information hungry audience? Even better, create a product
for an audience hungry for information who has money! That
way, you would know that the buyers existed, even before you put all
that time into creating your info product.
If you approach the creation of your info product using this method,
you will GREATLY enhance the success of your product! By
"success" I mean two things: the profitability of your
product as well as the name recognition of you as the creator.
Let look at two examples:
Example 1 - No Research
I know quite a bit about a specific subject. I decide to
write an ebook that focuses on the subject. So, I spend a few
days to a few weeks putting all of my knowledge into an
ebook. When I'm done, I decide to start working on my
website. Now, I go to do some research and I find that all of
my keywords that are used throughout my ebook have less than 1,000
searches done per month. Not only that, but there are already
over 20,000 sites that provide information on this subject!
Oh no! Now what am I going to do? How will my new
ebook compete with over 20,000 sites to get those few people who
actually search on the subject each month? I do the best that
I can in optimizing my site for the search engines and I hope that I
have really high conversion rates.
Example 2 - With Research
I know quite a bit about several subjects. I could easily put
my thoughts together into an ebook. To help me decide which
subject I should select, and how to focus my thoughts on that subject,
I do some research. I want to find a topic that has a number
of people who are interested in the topic. I want to make
sure that those people are actually willing to spend money to obtain
that information. I want to find unique ways of telling those
people that I provide the information they want and need through my
ebook.
Now, I do a bunch of research and I find that there are over 100,000
searches per month done on my topic. There are still 20,000
sites that provide information on this subject, but we are competing
for the attention of a much higher number of people.
Next I go to the pay-per-click search engines and check to see how high
the highest bid Is for the given keywords. The higher the
bid, the likelier that people are already making money in that niche,
which means that target audience consists of buyers.
Once my product is focused toward these people, I can easily create a
keyword optimized website to submit to the search engines to sell my
new ebook.
Can you see the subtle difference between the two examples?
When you create a product for a specific market, the probability of
your success and profitability is much higher. When you have
to work in reverse, you are trying to create a market for a specific
product.
Unfortunately, unless you are operating a company that's about the size
of Microsoft, you are not in a position to become a marketer
mover. Until your business is that big, you cannot create a
market on your own. So, do yourself a favor and create your product for
the market instead.
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