Read Your Market's Mind - 3 Great Market Research Resources

Read Your Market's Mind - 3 Great Market Research Resources



Starting a new online business, developing a new product,

launching a new marketing campaign, buying advertising

can all depend on how well you are able to research your

market.



All business is based on demand.



The formula and 40 techniques for finding demand we list

in "The Ultimate Information Entrepreneur's Success Package"

at http://www.infoproductcreator.com show that there are

many ways to discover and test demand.



One of the leading ways is to look at magazines, journals,

and media sources within a given market or on a specific

target.



Specifically, what you want to see is evidence that:



1. There are multiple magazine titles focused on your

market and/or proposed business idea. If there are no

magazines targeting your market, that is a surefire warning

sign that you may not have your market segmentation or

problem statement correct.



2. You want to see evidence that the magazines targeting

your area of interest are healthy. How often do they publish,

what do they sell for, how many pages are in the latest

issues, how are they supported (what is the subscription

price and how much is it to advertise), what is their

circulation, how long have they been publishing, has their

format and topic been consistent over time?



3. You would like to see an active advertising section that

shows evidence of other business owners within your market

spending money on advertising, consistently. The presence

of recurring advertising is one sign of a healthy market. Look

at what they are selling for signs of what products are

in demand.



Personally, I make it a habit to visit a large bookstore at

least once a week to take note of new magazines, new issues,

article patterns and advertising patterns in magazines within

my markets.



Another approach is to research these magazines online. Here

are a few resources that can help you perform this research online:



1. Publist - free media guide search, they require your

contact info first. Good for researching titles, publishers

frequency, etc...



http://www.publist.com



2. Magazines.com is a great (and massive) source for finding

out rankings of magazines within given subject areas.



http://www.magazines.com





3. MediaFinder is a super online resource, but requires

a fairly steep fee - $49/month, which may definitely be

worth it for 30 days when you are researching new markets.



http://www.mediafinder.com



Finally, don't discount making it a habit to wander through

your favorite large bookstore once a week to take note of

magazine titles, health of the magazine (#pages, price of

advertising and subscription, how long published, #subscribers, etc...)



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