3 Quick Ways To Judge Your New Product Idea 4

Raise your hand if you’ve ever come up with a product that was a dud…

People who are just beginning their business pursuits often forget to check if there’s a market for their “hot idea” before they create the product. This can lead to a waste of time, energy and a lot of money.

While there are more thorough ways of checking if your product has an audience, here are 3 quick ways to get a general idea of the demand.

1. Spyfu.com. This site lets you analyze pay-per-click data similar to what the old Overture tools used to do. Just type in your keyword and you’ll instantly see how many people are placing ads for that keyword, how many clicks they’re getting on average, and what it costs to run an ad.

If you see a website is running ads for a few months at a $1.00 click, you can be relatively sure they’re making a profit from that market.

2. Amazon.com’s Magazine Section If you can find a magazine that’s focused on your market, chances are there’s enough people out there to support a product for this business. After all, there’s enough to support the magazine…

3. http://www.clickbank.com/marketplace.htm. The Clickbank marketplace lists tons and tons of information products. Search for your keyword and look at the results.

If you see products similar to your idea, check out the “Gravity” number. The higher the number, the better the product is selling. Compare the number to other known hot sellers and you’ll get a decent idea of how popular that market is.

4 thoughts on “3 Quick Ways To Judge Your New Product Idea

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  3. Reply Marie Leonard Feb 15, 2010 8:09 am

    If you fail with a product it’s because you haven’t done your market research in enough depth.

    That’s where great keyword research fills the gap. But you must also check out your competition and how much that word is worth before deciding which way to go.

  4. Reply Stephen Dean Feb 16, 2010 12:53 am

    That’s certainly one possible reason.

    And I’m sure you could say quite a bit more about keyword research. If you’d like to write a guest post on the topic I’ll add it to the blog.

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