Researching and choosing your first product idea

Researching and choosing your first product idea

Here’s how you should research and choose your product idea.

Researching and choosing your first product idea!

It’s time to research and choose your actual product idea. Hopefully, you already know what type of product you’re going to create, so let’s get into the specifics.

I caution you against just choosing something off the top of your head. Sure, the thing you come up with just might be a winner… but you never know.

Even if you’re creating a product in just one day, that doesn’t mean you want to take a chance on profitability.

In fact, it’s almost easy to find profitable ideas when you know how to do it. It’s easy to follow the money. So don’t just choose a topic because you like it or you think it’s a good idea. Choose a topic because it’s high in demand and because people are buying products related to that topic already.

And that’s the kicker. You want to make sure people are already buying similar products. Yes, you’re in this to help people, but you’re also in this to make money. Follow the money, create products that are high in demand, and you should do well with products you create in a day. The hour per hour, day per day payoff can be massive if you do your research ahead of time. It doesn’t have to take that long to do.

If you’ve been in this business for a while, then you might start by considering what you’ve sold in the past. Maybe you’ve promoted products as an affiliate.

What did really well?

What does your audience like the most and buy the most of?

If you’ve promoted a product that did well, that means it’s in demand.

So, therefore, if you consider yourself knowledgeable about that topic, why not use that as a starting point and give your followers more of what they’ve proven to want?

Maybe you’ve created your own products in the past. What’s done the best for you?

What were affiliates most interested in promoting and what were customers most interested in buying?

You can also check affiliate marketplaces, even if you’ve never sold anything yourself in these marketplaces.

These affiliate marketplaces often show you what’s hot-selling and what the most popular topics are.

If you’re in the Internet marketing space, then you can find a lot of information on sites like WarriorPlus.com and JVZoo.com. If you’re in other markets, then you might try ClickBank.com for some great information.

Amazon is a treasure trove of fantastic information for your research. You can look through Amazon’s Kindle section to see which nonfiction books are selling related to your topic. Of course, just because it’s selling well on Kindle doesn’t necessarily mean it’s selling well in the Internet marketing space (or whatever your niche is), but the chances are pretty good that there’s some overlap.

Write down your ideas

As you go through all of these different ideas, write them down. Go through Facebook and Twitter and see what people are talking about. Take a look at forums. What are the products or hot topics that people are already talking about? What are people spending their money on? If people are spending their money in droves, then there’s a chance for you to make money too. You just have to find the right topic and the right angle and do your research.

Pay attention to what other marketers are mailing their lists about. If many marketers and affiliates are promoting a particular product or are constantly promoting products on a particular topic, then you can bet there’s money in it.

What are people buzzing about? If there’s a lot of buzz about a particular product or topic, then you can absolutely piggyback on that buzz. You’ll always find your own unique angle and take on things, but there’s no harm to capitalizing on trends and general buzz.

I’ll say it again – follow the money.

You’re a marketer, which means you can’t be afraid to make money. It’s not evil to make money. You’ll be making money because you’re going to be helping people. Find profitable topics and don’t settle on a topic until you’re pretty sure it’s profitable and highly in demand.

Your goal is to create a product in a day, which means you aren’t going to be choosing anything too general. You want to choose a very specific topic that you can tackle in a short timeframe. The shorter products you offer will tend to be lower in price, like the one you’re reading right now. It tackles a very specific topic in a very specific way. That’s along the lines of what you probably want to do yourself.

I’ll stress it again – find a unique angle.

You don’t want your product to look the same as everyone else’s. Put your own spin on things. Find a way to stand apart from the crowd. Find a way to really help people in a way that no one else has before.

And by the way, it doesn’t matter if there are already dozens of products out there on the topic you’re interested in. People will want to learn from you. Just by nature of being you, you have a unique outlook and perspective – this means you need to put pieces of yourself into your product.

Be unique, but go with a proven, profitable idea. That’s a formula for success when you’re creating a product in just a day.

Let’s discuss this tip/trick in the TIPS/TRICKS forums.

To your success!

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