This Article is About
new business
successful internet marketing
tangible products
commission junction
google
amazon
marketing campaign
three steps
niche
affiliate program
money
3 Steps For Market Research For New Business
Join 1000's of Authors at StreetArticles Today!

With these Three steps for market research for new business you will find the right customer, locate a monetized product or service, and evaluate the competition. Each of these factors is critical for a successful internet marketing campaign.

1. KNOW YOUR CUSTOMER: Without a demand for your product you will have no sales. When conducting market research for new business I ask “why and when would someone need this?” and "Can they afford to purchase it?". I begin my search in google forums. I read the comments to see if there is a need and a solution. If they can find a solution for free, if the solution is something they can’t afford, or if there is a need but it can wait that tells me there may not be a sale. I also like visit www.43things.com and www.google.com/trends . Both these sites give me information what people are interested in and help me determine the likelihood of an IMMEDIATE need for a product or service.

2. IS THERE A PRODUCT?: Next, I determine if there is a solution to the customer’s need that I can make money from. I want to find a product that already exists and has an affiliate program. I also am looking for a product that DIRECTLY solves the targeted customer’s need. Some popular programs to check out include: Clickbank – digital products Amazon.com – tangible products Commission Junction Pepper jam network I suggest you register to more than one affiliate program. Also double check with more than one program because they sometimes have the same product but with different pay-out rates. You want to find the program with the best pay out rate. Popular doesn't always mean profitable. You can make money in any niche if you have the right product. You may discover a less popular product will make you more money when doing your market research for new business because it has an untapped niche and there is a need that is not being met. That leads me to the next subject…your competition.

3. KNOW THY COMPETITION: Don’t invent the wheel if it already exists. When doing your market research for new business check out your competition. Is there a way you can improve upon their method? Is their website optimized? Are they selling the same products you want to sell or are they different in some way? Knowing your competition will help you design a campaign that sets you apart from the masses. It is a big internet pool so you don’t have to copy. In fact, the best campaigns are those that are genuinely yours. If your market is too crowded with competition you will not make money. Use google's free keyword search tool and type your keyword in quotes. This will tell you exactly how many other websites have that specific keyword. If there are more than 1000 then you have some competition. Another place to check out is www.alexa.com. They have tools to help you gather data on traffic for keywords. The greater the competition the less likely you will ever get on the first page of google, yahoo, msn or other search engine sites. That is the prime real estate you are targeting. You want that. If you have too much competition move on. It won’t be worth your time and it definitely won’t be worth any money.

Try out these tips next time you are doing your market research for new business. With a consistent and methodical approach to market research you will have happy customers and better sales

To learn more visit my website at www.westsmarketingsuccess.com and click here to receive your Internet Marketing Getting Started Guide, Wishing you the best in all you do! Natalie.


Street Talk

No comments present
You May Also Like
How To Market A New Business At Minimum Cost
Hopefully before starting out some initial business will already have been secured but it is vital to develop a new business pipeline as soon as practical without spending too much cash. This article compares various methods to market a new business based on the time invested versus return secured. Most…
By: Phil Smith in  Business  >  Marketing   Feb 11, 2013  
0
  Likes: 1

New Business Opportunity
Have you ever wanted to build your own website but thought it would be too difficult to learn? Today learning to build and market your own website has never been easier. I have come across an online university that provides you with everything you need. Wealthy Affiliate University as highlighted…
By: Bob6 in  Internet and Businesses Online  >  Web Design   Jan 22, 2012  
0
  Likes: 1

Ideas for A Website - Super Tips
It's extremely important to have a plan when building a business. Afterall, looking for ideas for a website is basically an online enterprise. If you have no idea on where to begin for your new business, I suggest you start with the basics. Starting with the basics will not only…
By: Saytue Saye1 in  Internet and Businesses Online  >  Web Development   Dec 13, 2011  
1
  Likes: 1

7 Essential Keys to Successful Internet Marketing
There a 7 Essential Keys to Successful Internet Marketing that I cover in this video here today. The first thing I want to let you know is that working from home, and becoming a network marketer is not as easy as people say it is. It is very challenging; you…
5
  Likes: 2

Setting Up A Successful Internet Marketing Business In Todays Market
Setting up an internet business is fairly simple now with all of the tools out there and if you have a true heart felt passion for it and can manage your effort and time. There are many people averaging five figures a month online by finding a market or a…
0
  Likes: 1

Successfull Internet Marketing
Did you look in the mirror recently and ask yourself what am I doing here. ( that is your work place ) of course. I think their are definately people saying that every day of their life's. But why, is it the traffic on the way to work.. or maybe…
By: edster in  Internet and Businesses Online  >  Internet Marketing   Oct 08, 2011  
0
  Likes: 0

Internet Marketing Mentor - Where to Find the Best One
What qualities should you look for in an Internet Marketing Mentor? Before I tell you what to look for in the right one, I should probably tell you what NOT to look for in an internet marketing mentor. These things are: - A mentor that tries to charge you money…
0
  Likes: 0

Designing A Website That Looks Professional
Your website is usually the first impression your potential clients and customer get of you and your business. You need to make sure you have a website that is professional and attractive. This is a key to running a successful Internet marketing campaign. If possible you want to keep your…
By: TroyF in  Internet and Businesses Online  >  Web Design   May 13, 2013  
0
  Likes: 0

Do You Want to Know How to Learn Internet Marketing?
Learning internet marketing can be a tedious task, especially if your trying to learn it all on your own. If your serious about making money online, then I'm going to tell you how to learn internet marketing from the comfort of your home. I first became intrigued with internet marketing…
By: angie smith in  Business   Dec 29, 2012  
0
  Likes: 6

In Hot Water Or Sticking To Affiliate TOS ?
When you decide to become an affiliate marketer, you’ll have the opportunity to promote many different types of products. You can promote tangible products or intangible ones. It’s important to learn as much as you can about affiliate marketing in the beginning of your journey - but there’s one very…
By: Tony B in  Internet and Businesses Online  >  Internet Marketing   Mar 22, 2013  
0
  Likes: 1

Little Known Facts on Web Scraper You Need to Know About!
Web Scarping loads data that is most appropriate for your industry that too particularly in a sensible course of action that gives unending hands. This keeps up taking data, web scraping scrapes locales from different web indexes. Information related to the creation, usage and organizations are huge for a variety…
By: DesireeRyan in  Internet and Businesses Online  >  Internet Marketing   Feb 11, 2016  
0
  Likes: 0

Elektronisch Roken Voor Meer Testosteron
De Chinese firma KIMREE – producent van elektronische sigaretten en e-liquids – heeft een e-liquid op de markt gebracht die je mannelijkheid een extra boost kan geven. Het belangrijkste ingrediënt van de e-liquid zijn Tongkat Ali extracten. Tongkat Ali is een plant die groeit in de regenwouden van Zuidoost Azië…
By: e-smoker in  Internet and Businesses Online  >  Internet Marketing   Feb 10, 2016  
0
  Likes: 0

Elektronische Sigaret Wordt Legaal In België
Het gaat dan toch de goede kant uit met het beleid dat gevoerd wordt om de volksgezondheid een handje toe te steken. Het kabinet van minister van volksgezondheid Maggie De Block, meldde immers dat de elektronische sigaret binnenkort legaal wordt in ons land. Alles zou in kannen en kruiken moeten…
By: e-smoker in  Internet and Businesses Online  >  Internet Marketing   Feb 09, 2016  
0
  Likes: 0

Get Advice From The Experts Of Internet Marketing
In order to maintain a competitive edge, it is important for businesses today to utilize internet marketing through a variety of methods. It is useful to have background information on all the ways internet marketing can boost business productivity, profits and customer audience in order to see the ways that…
0
  Likes: 0

Internet Marketing: Helpful Hints To Ensure Your Profits Grow
You really have nobody to blame but yourself if you fail at implementing your Internet marketing plan? Ideally you have prepped yourself for any issues that might occur. Take time to read this article and you will discover some of the best advice that is available for this subject. To…
0
  Likes: 0

Article Views: 2499    Report this Article