LESSON 2: FINDING YOUR TARGET MARKET
Before you market your product you need to know that it is a marketable product!
MAKE SURE YOUR PRODUCT IS IN DEMAND
Finding a target market for your product is like creating a definition and making your product unique so that it stands out from the rest. First you "find a market" and then "create a product" to sell. This comes from the basic concept of "find a need and fill it". You need to make sure your product is something people are already looking to buy.
HOW MUCH COMPETITION WILL YOU HAVE?
Knowing how much competition you will have, who your competition is and what type of marketing they are using is essential when you are building your Website Marketing Concept. This will give you an idea of how easy it will be to attract customers to your business online. If there is a lot of competition then you may need to create a new definition for your product to make it unique.
FINDING A PRODUCT TO SELL
Yes, I know, you already have a product to sell. Do not skip this step. It is an essential step in building a marketing concept for your website. You may find additional products to sell that will become top sellers with this step!
If you are daring enough to consider finding a product that is easy to sell because it is in high demand with very littlle competion then follow the steps below.
SEARCH POPULAR TOPICS
To get some ideas on what is popular you can conduct a search on group chat sites like:
MeetUp.com
Go to meetup.com and click on "find a meetup" group at the top of the screen.
Some lists will pop up. Take a look at: "Fastest Growing Topics" & "Most Popular Topics"
As you click through these topics you will find "topics" that matter to people.
Click through and find a need to fill.
You will find a map for each topic with the number of people that are interested worldwide.
Go to some of the groups and see what people are meeting about to get product ideas.
Yahoo Groups
Go to: http://groups.yahoo.com
Scroll down to "Browse Groups"
Click on a topic like "Animals"
Take a look at "Browse for specialized groups"
You will see a list of popular topics showing how many groups there are for each topic.
Click on a topic like "Mammals"
A list of popular mammal topics will appear
Click on a popular topic like "dogs"
Popular dog groups will appear
Continue your search by clicking on "breeds" or "training and obedience"
Find a need for a specialty group and then conduct some product research
LATEST TRENDS
You can also find new popular trends & products by window shopping at Malls or online stores
Amazon.com & Ebay.com are excellent sites to search popular items for sale
RESEARCH SALES HISTORY
Research sales trends to find what sells on Amazon.com & Ebay.com
KEYWORD RESEARCH STUDY
Once you have done your preliminary product research and you have a few products in mind then you can put them to the test by conducting a keyword research study. Conducting a Keyword Research Study is the only way to KNOW what keywords or keyword phrases your potential clients are typing in to find your product or service.
Conducting a Keyword Research Study is the single most important thing you can do to market your website! Having the right keywords and keyword phrases on your website is the only way to get a top ranking on Google so that your customers will find you!
Step 1: Type Keywords into Google
Go to Google.com
Step 2: Use a Keyword Finder Tool
Step 3: Analyze the Competition
GO ON TO LESSON 3:
DEVELOPING YOUR MARKETING CONCEPT
