Product Creation – 4 Precautions to Take When Creating a New Product

product creation

Have you ever woken up early with an idea for a creating great product and just can’t go back to sleep because the idea is constantly mulling over in your mind? Well, I have. If you don’t take action on it immediately the inspiration fades away. I keep a notepad next to my bed so I can write down the idea before I forget about it.

4 Precautions to Take When Creating a New Product

1. Interact with people in your niche market

One of the biggest mistakes online entrepreneurs make is falling in love with their idea instead of doing some market research to see if their is a demand for it. You don’t want to invest a ton of time and money into a product that is not going to fly. Before going gang busters building out your product idea interact with people in your niche. Visit the places online where your audience hangs out. Such places may include forums, blogs, social media properties like Twitter, Facebook, LinkedIn.

To search for a forum in your niche enter keyword+forum in the Google search box. Become a member of the forum then start conversing with members in the forum by leaving comments, asking and answering questions. You’ll soon get a pretty good idea if people are interested in your topic.

2. Do keyword research

Market Samurai is one of the best keyword tools on the Net because it generates a list of keywords then determine their profitability by analyzing your competition. For instance it will analyze the backlinks, meta tags, backlinks and cost per click of competing websites.

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3. Set-up a small AdWords campaign

The beauty of creating a Google AdWords campaign based on your product idea is that you can test the demand very quickly. It’s better to invest some money up front to test the profitability of your product than to spend time and money developing and marketing your product only to find out it’s a failure.

To set-up a small test campaign decide the maximum monthly, and daily amounts you want to spend and set your cost per click. For instance you could start with a budget of a $1.00/day and only spend $30.00/month. Sell an affiliate program related to your niche or build a list of interested people by giving away a free report. The chances of creating a profitable product increase substantially if their is a high demand.

4. Interview potential customers

Having a live conversation with potential customers in your niche will give you real time information. To do this contact the people on your list and offer them a 15 minute interview. If you want to interview more than one person at the same time create a webinar. Interview at least 20 people, more the better.

if you follow the 4 steps outlined above the chances of creating a profitable product information business online will vastly increase.

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  1. thanks you admin very goood site 😉

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