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Marketing
tips
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What
is the
best method to research one's business idea? ALWAYS START WITH YOUR TARGET PROSPECTS Many people put the cart before the horse and begin with a business idea first, and then go searching for people to buy it. This is backwards thinking, and often ends in failure. The most effective way to develop a winning product or service, is to start with a particular group of prospects and determine what they 'already' want. Then develop your product or service to give it to them. There are tools online that will help you determine what people are currently looking for. Contact us to learn more. GET ADVICE FROM SUCCESSFUL PEOPLE IN YOUR FIELD You can often learn a great deal by talking to people who are already selling the product or service you are considering. Of course your local competitors may not be willing to share information, but someone outside of your marketplace may be, especially if you make it worth their time. Learn everything you can about your ultimate customers and the product/service you are considering. SELECT A SPECIFIC GROUP OF TARGET PROSPECTS Don't make the mistake of thinking that everyone will be a prospect for your product or service. You can't afford to go after everyone, and not everyone will want what you are offering. Select a specific target group of prospects that are easy to reach. If you can't reach them easily, then you will have a difficult time selling them. TEST, DON'T GUESS Now, if you are an adventurous sort who loves to take risks and go against the odds with a 'new' and different idea, then the easiest, least costly method of researching your idea is by testing. Offer free samples of your product or service to your selected target group. If they don't respond to a free version of your idea, then how likely will it be that they will pay? Not very. Make them an offer. Send them a letter or post card telling them about your free offer of a sample. Call them on the phone and make your offer. Fax them. Call on them in person. Place an ad in a publication that you know they read, etc. Remember, you shouldn't try to sell at this point, just offer a free sample, or at the very least free, no-obligation information about your product or service. If you get absolutely no response, that should tell you something. You may reconsider going with a proven successful product or service instead. |
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