Residual Income Business Opportunity – Product Development

Launching your product with positive impact and giving your residual income business the best chance of successfully making money online relies upon you having spent enough time researching your target market properly.

It is a mistake that internet marketers and any other online residual income business owners make, to fling themselves headlong into creating a website, taking the time and trouble to set up squeeze pages (lead capture pages) and sales pages without first establishing that the products they intend to sell have enough demand on the internet.

There are two common mistakes made.

First of all, not finding out if the size of the market online is big enough to sustain your sales targets. And by that I mean checking out keyword research tools to find out exactly how many active daily searches are being made for the products in question.

And second of all, (which is a bigger problem) advertising products on the internet that are in demand but the competition is so great that it is virtually impossible for the new start business to get their wares in front of their potential customers.

That is why the savvy online marketer really gets to grips with niche marketing. Understanding that a product can satisfy lots of niche markets and as a consequence each niche market should be tackled differently to the rest.

Let me give you an example of how this may work.

Let’s say you were trying to sell rechargeable batteries. If you simply advertised your rechargeable batteries on the net you would be competing with a massive number of sellers out there, in fact probably too many to make a real impact.

However, if you were to niche your products into tailoring them for specific markets for example Samsung digital cameras, Kodak hand held video recorders, Petzl head torches, Gillette nose hair trimmers, you get the idea!

If you chose say 50 niche markets you would be reducing your competition massively, satisfying a much more targeted need and therefore be much more relevant to your target audience as well as finding it much easier to get your offer in front of them.

Therefore, niche marketing is fundamentally important if you want to be successful marketing and selling your products online.The question is how do you achieve that in the best way that will keep you ahead of your competition?