Exploratory Market Research Resources
Next and based on what you just learned, now it's a good time to start reading reports, articles, news and other materials about market trends to see what's new and what's going on in the world. Keep an eye on what motivates people's behavior based on what they need, want, what inspires them, and what they look up to. Here are some great places to start:*
*Please note: We are not affiliated nor do we get any commission for the websites we recommend here. These are purely honest recommendations because we think these resources might be useful to you. They all offer free resources that are good enough for conducting initial market research.
Remember, these are just some tips to get you started. As always do your do diligence and do more research.
This site is a knowledge web-portal that connects international business professionals worldwide to a wealth of information, insights, and learning resources on global business activities. In their words, it offers the latest and most comprehensive international business and trade content for a wide range of topics.
Whether conducting extensive market research, looking to improve your international knowledge, or simply browsing, you’re sure to find what you need to sharpen your competitive edge in today’s rapidly changing global marketplace.
This site offers great free reports and a newsletter with market trends, insights, and innovations around the globe. You may subscribe for free to get more information. This is great for statups as there aren't many resources at their disposal for conducting initial market research.
They have reports by region, namely Global in general, Asia, Africa, and Latin America. This is a great place to start and get your ideas juicies flowing and sppot business opportunities.
Explore one of the largest online retailers and discover niche opportunities. Start by looking at their best sellers, what is hot now? what is trendy? start sppoting some trends.
See the best 50 sellers right now and think whethere there's something you could write a lot about (if you want to start by selling affiliate products) or a product idea that you want to further explore.
Another great and free source to check out what’s selling well online is Clickbank's Marketplace. This is one of the largest digital downloads retailers. Then on your left you’ll see the different categories you can sort through.
Find a category you might be interested in. Click it and see the results displayed. Then, look at the number that’s right below the green bar that says Results. In small letters it’ll say: Displaying results 1-10 out of X number of results. The X number of results tells you how many products are there for sale in that category.
But if you want to find out products that have a proven track record of converting sales well, look for the box that says Sort results by: This sorting box is a little below the green bar that says Results mentioned earlier. Then choose Gravity.
The Clickbank marketplace information is a great resource to look for products that are selling online right now. Not only because is one of the largest online retailers for digital products, but also because they almost the only ones that give access to this kind of information.
This site offers great insights with reviews of products from a large database. As they describe it themselves: "The site helps users find answers about what products are top-rated or best bets in their class. Our mission is to reduce the time it takes readers to make an intelligent purchase. Our website is partly a search tool (see the Our Sources page) and partly a consolidator of wisdom and analysis (see our Best Reviews and Full Report sections).
So, how does this kind of information help you?
Well, the information they provide is this:
Best Reviewed: Our selection of the top-rated products, based on expert and user reviews.
Full Report: Our complete analysis of who the experts are and what they say, as well as our review of important product trends and developments.
Our next stop, Google of course. We couldn't leave the largest search engine out. Google trends is also a good place to look for trends around the globe and per country. It also has categories, like top trends per year and on Youtube. Find these on the left hand menu.
In addition, you may just type a phrase at the top and it'll display trends per country and other similar phrases. It shows also how people search for brands, when searches spike, and all in real time.
Bing.com also offers a great trends tool. Look at the page suggested and click on the image you're interested in. It'll then display amazing charts that will let you further explore each category. This is a very visually nice tool.
Hopefully after you've explored these sites, you'll be able to come up with some product ideas that you need to test and see whether they could have good demand, low supply and an opportunity to differentiate yourself if there are already similar products on the market. Even better would be to be able to come up with new innovative ideas.
Find Your Niche
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