Help! I've Got This Great Product But No-one's Buying It.
I can’t count the number of times I’ve heard this line from frustrated entrepreneurs.
They have a good idea.
Spend months or even longer designing and creating their wonderful new product.
They invest thousands of dollars.
Then the big day when they start to sell it.
And……
Nothing. Nada. Zip. Rien. A big fat zero.
What happened they cry? The product’s great. It looks good. The price is good.
And the answer is the reason that over 90% of businesses or products fail.
Not conducting market research.
In their keen-ness to get going, the entrepreneur didn’t bother checking if anyone else shared their enthusiasm for the idea.
How do you do marketing research?
To most people MR is a black hole of mystery and intrigue.
What is it? How do you do it?
Their understanding of a market research survey is also clouded by tele-marketers ringing at home when you are having dinner or being stopped in the street by someone with a clipboard. So they have no faith in the concept of business market research.
And, while it is true that surveying the market doesn’t give an absolute, definitive statement that your product will be a raging success, it’s likely that it will give you pointers.
It might suggest that there is no demand for the product at an economic price. That might be disappointing to be thwarted with your dream but it’s better that than pouring hundreds of hours and thousands of dollars down the drain.
Internet market research is easy
Yes it really is.
You can find out within a few days whether your new product idea is a good one.
There are three steps:
- Market identification
- Market size or demand
- Competition analysis.
And with the right tools that process can be reduced from two weeks of really tedious niche market, keyword research and competition research down to a couple of days.
I use a tool which integrates all of those processes plus a whole lot more so a two-week project can become a one-day result.
If you want to make sure your product or idea isn’t going to make you go broke, you must do market research. And if you want to save yourself thousands of dollars and two weeks, drop me an email at Andrew@gigmarketing.biz. Let me help you out with your market research analysis.
Market research is THE best foundation for website marketing and for search engine optimisation.
