Ten Ways Of Getting New Product Ideas!

That’s all you hear all the time. Gotta have a GREAT product. That’s how you get the big bucks. Okay, but how?

For an internet marketer, one of the most difficult things to do is coming up with product ideas. For people who are new to internet marketing, it becomes even more difficult as they have no idea where to begin or even if their idea is going to be a success.

There is nothing better than creating your own product. Let us see how you can go about getting new products into the market. Once you come up with an idea that you like, make sure it is implemented immediately. This is where a newbie remains new for a long time. Because they are unsure of themselves and of their product, they do not implement many of their ideas.

“Often the difference between a successful person and a failure is not one has better abilities or ideas, but the courage that one has to bet on one’s ideas, to take a calculated risk – and to act.”
~~ Andre Malraux

What Do People Need?

This should be the first question you should ask yourself. It is obvious that the product has to be something that people need and are looking for, something that is not out there or something that can be better than what is already out there in the market.

You can get to know what people are looking for by observing and understanding their problems online. Once you are able to identify a problem, time to think how you can help them with it. Finding problems on the internet is easy and this can be done by looking at the questions and complaints posted by people. Yahoo answers are one of the best ways of finding out what people are looking for. Simply put – their questions should be answered by you – in the form of a product.

Improve On An Existing Product

Take a look at all the products available in the niche you are interested in and see if there is anything that can be done better, if you can come up with a better product that is an improvement on the existing product. This technique is used by many internet marketers, even the more experienced ones, but never fails to work. The important thing is to choose products that are in demand. You are actually at an advantage here, because someone else has already done all the research for you, which means you have about 90% of the market conquered and all you have to do is add that 10% that makes it a totally unique and a better product.

A Forgotten Product

Look around and you will find many products that were previously sold but not anymore. There will be several products that people would have completely forgotten about. You must see what you can do to revive the product into something to cater to today’s market. Once you have changed it enough to make it totally unique, your very own new product is ready to be launched.

Take The Help Of Your List

If you are new, you may not have a list; but if you do, this strategy will help immensely in coming up with a new product idea. Find out from them what they want. Send a mail asking them for suggestions. Make sure you do not sell anything to them in the same mail. In fact, it has been found that people love being asked for suggestions and you will get many fresh ideas from them. One of their responses may just be what you are looking for.

Combine Products

Find two good products in the same niche and combine them into one. You must make sure the products complement each other and you are able to convert them into a single product without making it obvious and patchy. Package it uniquely and you are well on your way to earning big money with the benefits of two already in-demand products.

Conduct Surveys

If you are a webmaster and already own a website, you can conduct surveys asking visitors what they would like to see from you.

Adwords Ads

If you go online, to your right, you will see a lot of paid Adwords ads. There is a reason why those people are advertising in spite of having to pay for every click. The reason is simple – they are getting something out of it. Check the ads related to your niche, visit their websites and see what they are selling there. You can get some wonderful product ideas from these websites.

Selling A Physical Product

If you are keen on using physical products, then do your research and find a hot product that is already selling well. You will then take that product and add something to it and package it. For example, if a Yoga Mat is hot and selling well, you could add a good Yoga CD or something related to that. You will come up with hundreds of such products with a little research.

Keeping Track Of The Current Trends

Since internet is a fast changing medium, trends keep changing every day. It is Madonna one day and Avril Lavigne the other. As far as internet marketing goes, it is Bum Marketing one day and Adwords the other. Capitalizing on these changing trends is what it is all about. You could come up with products for every trend; however, to be able to do this, you will have to keep a close watch on the market and be quick. During the Cricket world cup season, you can create something related to cricket and take advantage of that wave.

Creating An Existing Product For A New Niche

What this means is that if a product is much in demand in one niche, it can also be introduced into another niche where it may be useful. You will have to of course make sure that the product has not been used in the new niche before. You will need to put in an effort here in doing your research.

All it needs is a little bit of research and a huge amount of common sense to come up with product ideas. The key to coming up with a great product idea is “people.” Look around and see what they need and you will find the answers you are looking for.