One of the biggest obstacles that many newcomers face when starting Internet Marketing is product selection. “How do I choose the right product is echoed round the Internet Marketing Word”. More often than not, suffering from information overload, with advice coming from all directions, it is very easy for newcomers to get seduced by so-called Internet gurus who claim to have an instant solution that will make them rich overnight. Unfortunately these scammers only make themselves rich whilst the newcomers keep “hopping” from one miracle product to the next…
I will attempt below to demystify the process and hopefully save you a few months of sweating and struggling.
Finding a product
A lot of people make a very common mistake of getting a product first, they then subsequently try and get a market for this product. This is totally wrong. The process should be reversed. Finding a market first, that spends money, positioning yourself into this market, then and only once this has been done, you can start promoting related products to that market
On countless forums and blogs I have often come across the following advice being given to newcomers “start with something you have a passion for”. Again, this is totally wrong. More often than not, many passions just won't be profitable, and in that case ONLY thinking about what you're passionate about is definitely bad advice.
Many marketers choose a niche they are not madly passionate about but they are simply passionate about the process in itself. What you want to get passionate about is setting up a business that is stable and sustainable
When I was running my health related membership site years ago, we offered articles/ebooks on anything worth promoting that was health related, (try getting passionate about constipation relief remedies), however, the sites were hugely successful.
The key to long term success, is knowing your market well. If you're already interested in something, of course, you will have a much better chance of knowing the market well enough to be profitable. But if the market has potential and it is not “your thing" the motivation for making money should be enough for you to learn about it.
Finding a buying market should be first.
The very first to do is to find a profitable niche. This is an area online where there are already ready buyers, where people already spend money. Finding a profitable niche is where it all begins. The next step is to find product related to that niche.
Spend time doing your research; assess the strength of the competition.
How many searches per month does this niche/microniche have
(Google Adword keyword tool is a great tool for this)
How much competition?
What is the strength of the competition
Analyze thoroughly all data: page ranks, back links,
There is a multitude of free online software available which will assist you in your research.
To summarize - the first step in Internet Marketing is finding a profitable niche. This is where it all begins. The best niches always fill a need for a solution. People looking for an answer to a certain problem. Thorough research prior to selecting a niche is crucial for long-term success in Internet Marketing.