To create your product, you need to explore the market first in finding out what they want. Such as their common problems, needs and wants. You do not need to know everything in order to share everything. What you need is access to valuable info that many does not have yet need as solutions.

By doing that, you will be creating a large hungry group of buyers who will be desperate and wanting to buy your products almost immediately.

The biggest mistake most marketers will make whether online or offline is to create what they think the market wants rather than finding out what the market actually wants. It is only when they have finished creating the product, then they will start exploring the market for potential buyers. When they find only a handful or none, all their efforts and money will be wasted.

Someone once mentioned to me the 80-20 rule. Instead of doing 80 per cent of the work in product creation only to achieve 20 per cent sales, won’t it better for you to do the other way round?

You find out their problem, go to online marketplaces like Clickbank or Paydotcom and get the product that best solves their problem before giving to them for commission. Alternatively you can create your product from scratch or PLR, put it on those marketplaces and do the same thing.

To illustrate my point, let us look at 2 examples:

Example 1:

Tommy knows a lot about dog training.

So he decides to write an ebook on dog training. He spends a few days to a week applying all his knowledge into an ebook. After he completes it, he decides to create a website or blog.

When his website and blog is done, he goes to major search engines like Google, MSN and Yahoo for market research. There he discovers all his selected keywords pertaining to his product have 1000 searches or less per month. He also discovers that there are over 20,000 sites providing the same information on dog training.

With this discovery, how is Tommy going to compete with 20,000 other marketers?

He ends up buying a software which he hopes can optimise his site in terms of first page ranking by search engines and for better conversions.

Example 2:

Tiffany knows a lot about several subjects.

To help her decide which subject works best in making money for her, she decides to do online market research. She wants to find a subject with the most people interested in and are willing to spend money to obtain the information.

From Google, she discovers that there are over 100,000 searches on how to get your ex boyfriend or girlfriend back. There are also 20,000 sites pertaining to that subject.

Next she proceeds to Google Keyword Tool to check how much the highest bid is for the given keywords. The higher the bid, the likelier people are already making money or buying in that niche.

Ultimately she chooses how to get ex back as her ebook, blog or website subject. They are created on not just what the market wants but on the keywords likelier to be inputted for the market to locate that particular subject easier.

Can you spot the difference between these two examples?

When creating a specific product for a specific market in terms of relevance, the probability of your success is much higher than when you created what you think the market wants only to discover the other way round.

In a nutshell, market research is an important factor that should be taken into consideration first before everything else. Though it may seem boring and dry initially, it saves you a lot more time and effort than trying to create a product.