Market Research Summary

Before you get too far into your project, it’s important to do some initial research. Think about some of the consequences of skipping any one of these steps...

What could happen if you don’t do a high-level overview?

The product or service you want to promote could be on its way to becoming obsolete. Would you invest time and money into building a website that promoted film cameras? Sure there’s still demand, but even Kodak, who invented the film camera, is moving away from film.

What could happen if you don’t measure the demand for your category?

Your category focus could be too narrow. You may think everyone is as passionate about “unicycle hockey” as you are, only to find out there’s not enough money in the sport to pay your monthly web hosting bill.

What could happen if you don’t check out the competition?

You could invest time and money into a website that will never be profitable. If your website is focused on keywords that are too expensive or too competitive, you will never be successful. You can make money in any category online; you just have to focus on the right keywords within that category.