Most products will NOT make money online. The ones that will have the proper combination of demand, supply and profit margin. Wise Internet business people take the time to do the research first–and know whether or not the demand is there BEFORE they build a site and advertise it.
This article will enable you to choose a product that will make you money.
1. BRAINSTORM
For some this is the easiest part, for some this is the hardest. I tell my students to make a list of everything they know about, enjoy or are trianed in as a “start” point. You want to brainstorm specific products, problems in the world around you and/or topics of interest.
Try to get at least 100 ideas or topics.
2. RESEARCH
The next step is to look closely at the number of people who are already online looking for the product, service or topic you have in mind.
Taking your list in hand, go to:
http://www.All-In-One-Business.com/wt.html
This tool will allow you to accomplish the following:
- (1) Develop a list of Internet search keywords and phrases for each one of your ideas you generated in step one.
(2) Find out EXACTLY how many searches are performed for those particular topics on each search engine each month.
(3) See exactly how many other sites are “competing” for those very same “clicks.”
This tool is INVALUABLE in determining whether or not a particular topic or product has an existing demand on the net. There is nothing else like it.
You need to run a COMPETITION REPORT with KEI for each of the ideas you generated in step 1. Play around with the free trial to get an idea of how the tool works, then get a one day or one week membership to do your research. The free trial doesn’t give you enough data and does not allow you access to reports from the top search engines.
Separate the reports into “keyword clusters”–meaning groups of keywords all related to the same theme. For instance:
If you were researching the demand for “watches” on using this tool, you would likely look at “watches”, “watch”, “wrist watch”, “timex”, etc. All of these keywords would have their own traffic numbers BUT ALL PERTAIN TO THE SAME PRODUCT GROUP. This is a “keyword cluster.”
When you look at the results of your report, you will see each of your product ideas will fall into one of three catagories:
- (1) Ideas with little or no traffic or demand.
These will not sell well online. There just isn’t the demand. You can forget this list.
(2) Ideas with solid demand (at least 100+/day for the keywords related to that idea) and low competition– less than 1 site for every 5-10 visitors.
These are great ideas that can generate traffic–these are your easiest source of profits.
(3) Ideas with solid demand and HIGH competition (more than 1 site for every 5 visitors.)
These need to be evaluated further. It is possible to dominate a saturated market and make tons of money, but you need to evaluate how difficult that will be.
3. CHOOSE PRODUCTS
Start with the keyword clusters from (2) above. These are ideas with solid demand and low competition.
You want a product that will solve a problem for your target audience. You also want a product you can sell at enough of a profit to cover your wholesale cost, advertising and overhead and still leave a profit for yourself.
When there is a solid demand with low competition, you can often accomplish this very easily, since much of your traffic can likely come from search engines.
To evaluate the results from (3) above, you will need to look at a couple other things. These products/ideas were the ones with high demand but also with high competition. To be effective here you need to have products you can:
- Offer through a network of established affilaites -OR-
- Offer through direct opt-in marketing -OR-
- Offer through high traffic websites.
This requires much more effort than the keyword clusters you identified in (2) above and most people either don’t have the perseverance or the skills to get it accomplished. This can be lucrative, but it can also be difficult.
There is no doubt the Internet is the future of commerce. You can be a success story if you will just brainstorm as many ideas as possible, research the market demand and supply and secure products you can market profitably and effectively.
Kevin Bidwell is owner of
http://www.All-In-One-Business.com/cg-bin/at.cgi?a=274293
Kevin just finished a complete report on building a passive
income. Grab your copy here:
http://www.All-In-One-Business.com/cg-bin/at.cgi?a=274293&e=/pi
