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Launching a new product is undoubtedly one of the most stressful and difficult times for any entrepreneur. Whether it's your first product, your fiftieth, or your hundredth, knowing just how the market will react is something that you can never do through intuition alone. Although the most popular and successful entrepreneurs are said to have the 'personal touch' that can predict a product's success, they're more than often wired up to the hard data when making any major decisions.
While focus groups and beta testers are often without of the financial means of many internet entrepreneurs and marketers, it's easily possible to use the massive search traffic of Google as an effective replacement for traditional marketing test groups.
By running AdWords campaigns that are specifically targeted to your own market, you can gain some massive and valuable insights into your market's performance, consumer preferences, and general price for any product. Simply put up a series of advertisements that test for several variables of your product, either price, name, and product description, and let the results speak for themselves. Whether you're looking to sell 10 copies or 100, the information that an AdWords campaign can bring to you is priceless.
Need some guidelines? Here's a simple example, using an eBook as a demo product:
You're trying to market an eBook that you've written yourself. With five potential product names, 10 potential product descriptions, and no idea of the price, you need to gather as much information as quickly and cheaply as possible.
First, run five different Google AdWords campaigns, using the book's potential titles in the ad text or headline. Everything else on the ads needs to stay the same, and there needs to be no mention of pricing or approximate costs. See which one performs the best, and then lose the others.
Then, run your ads with ten different product descriptions. The titles and headlines should be consistent and identical, with only the advertising copy changing. Find out which product description works the best for your audience, and lose the others.
Then, run the same tests over and over again, but this time to determine price point. Set ten different prices, and see which one continually leads to most people to both click on your advertisement and read through your product description and sales copy. At the end of the page, put a "name and email" form and collect details for potential customers.
By using this simple strategy, you've created a marketing database, an easy email list, and given yourself the opportunity to market to people directly once your product launches. Not only that, you've determined the best name, description, and price for your online product. Not bad for a little AdWords spending, and certainly more cost effective than the traditional methods of gathering market information.
To learn more about PPC advertising, check out the free Adwords 101 report. Feel free to distribute this article in any form as long as you include this resource box. You can also include your affiliate link if you sign up at Clickbank Pirate.
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