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Why Researching Your Market is Critical To Your Business.

I would like to talk to you today about “Market Research” and the
important role it will play in you online business endeavors.

Remember when you first started with Internet Marketing did you
have any problem choosing a product to promote. More than likely
you didn’t but, after promoting it how much did you earn? Was it a
hot product you made money with? Or, was it a product that you
wasted time and money promoting and made very little or even
possibly lost money?

Tuff questions but the answers to them helped you learn not to
repeat those mistakes. Lessons learned! One question that you should
ask yourself is “Did I do the proper research needed to be done before
I chose and promoted the product?”

I you answered “no” to the last question then you are not alone and
now realize the importance of market research. So, how do you do
the proper research and what should you look for?

There are so many ways that books have been written since the time
advertising was first used. Believe it or not, even today a lot of the
original ideas about market research back then still apply to market
research today. Its just we have a different (and more improved)
access to the information today than years ago.

One way to get the information you need is to ask your list/customers
questions about what you want to know. The most important aspect
of this is to listen to what they have to say. It can only deepen your
relationships with them and improve you company identity, even
leading to new markets and or new products that they are telling you
they need or want.

Another way which you probable know about is looking at the trends.
Visit Google Hot Trends, Yahoo Buzz and Answers, eBay Pulse, and
Amazon Bestsellers. Check out what people are talking about, what
they are buying, problems they need answers to, tools they may
need or want.

43things.com is another great source for leads to affiliate products,
or even for ideas of a product you can create. They are there telling
you what interest them, what problems they need solved and hopefully
you can guide them to what they need.

Clickbank.com/marketplace as you know is the leading supplier for
digital products that you can promote. Once there you can choose
the category you are interested in and find the products that will
supply the information your target market needs.

Another source I like to use is cbengine.com.There they go into more
detail about the product in question giving you a better understanding
of how the product rates and preforms for the affiliates promoting it.
Cbengine has some information you can get for free but, to access the
more critical information on the product there is a small, reasonable
yearly fee that is well worth the investment to access this information.

There are other resources you may want to check out at Commission
Junction, Linkshare and ShareASale.

Another market research idea is to join and monitor forums within
your niche or market. A easy way to find them is to go to Google and
type in niche keyword+forums (affiliate marketing + forums). That
search combination came up with 8.9 million results, so you can see
finding forums should be no problem.

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Note: Always read the rules of the forum that you are interested in
and live by them and you should be able to connect with some
good people for possible JV projects, ad swapping, and even cross
promotions.
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Once you have completed your research and found your target market
then you should be able to find a product that you can make money
with. The only criteria you need for the product is that it is quality and
solve your markets wants or needs. Visit the sales page and read
through it, if the sales letter gets your attention and convinces you
that this product is something you would buy because it fits your
wants and needs them you have a winner.