10 Ways of Getting New Product Ideas to Profit Online

As an internet marketer, one of the most difficult things to do is coming up with product ideas. If you are new, it is even more difficult as you have no clue where to start or if the idea is going to be a hit.

Here are a few tips that may give you some ideas on how to go about getting new products into the market. If you like an idea, make sure you implement it.

“An idea that is developed and put into action is more important than an idea that exists only as an idea.”~~ Gautam Budha

Problems people face
This is one of the easiest ways of finding out what people are looking for. Go online to observe and understand what problems people are having. Once you identify a problem, think of how you can help solve it. It is easy to find problems on the internet, by checking the various questions and complaints people have. Yahoo answers is one of my favorite places to find what people are looking for. Their questions are your answers.

Following Trends
Trends keep changing. Internet is a fast changing medium where the flavor of the day changes with every passing day. One day it is Britney and the other it is Whitney. In internet marketing, it could be Butterfly Marketing one day and Bum Marketing the other. You need to find ways to capitalize on these constantly changing trends. There is a product you can come up with for every trend. You need to keep pace and watch the market carefully to see what is hot. During the cricket world cup, come up with something related to cricket and watch the sales.

Improve on a product
One of the more easy ways to come up with product ideas is to scrounge the market for products and see how you can improve on an existing product and come up with a better product. This is something that is commonly done but it works each time without fail. You will have to choose products that are in huge demand. With the research for demand being taken care of by someone else, you have conquered 90% of the market, the rest is the 10% you are going to add to the existing product.

Introduce a product in a new niche
This idea entails looking for products in a particular niche. Find a product that is doing great in one niche and introduce a similar one in a different niche where it may be useful too. Of course make sure that it has not been used in the niche before. I am sorry; here you can’t afford to get away from research.

Adding to a physical product
If you are looking at physical products, take an already existing hot product and add things to it. For example, if a certain Golf ball cards are hot, add a Golf ball and a Golf cap or something that is related to it. This mix and match is great and there will be no end to options.

Old product
You may have come across some old products that people have totally forgotten about. You may get that product and see what you can do to make it fresh and invaluable to the existing market, and launch a great comeback. A few latest innovative additions and changes to the product and it is as good as new.

Ask your list
If you already have a list, this tip will help you come up with a new product idea. Ask people that are already on your mailing list, what THEY want. Make sure you are not selling them any product in that mail where you ask them their suggestions. This will make them feel important and trust you well enough to give you great ideas. You’d be surprised at the ideas people come up with. All you need to do is ask them. Who knows, just a single suggestion could be the beginning of a new product.

Combine two products
Take two products and combine them into a single product. Find two products that sort of compliment each other, for example, a budgeter and a planner. If it is an ebook, then make enough changes so that the flow is perfect and it does not look like two pieced thrown together. Once you are through with that, get it packaged attractively.

Surveys
For website owners, it is a good idea to conduct a survey on the website. Ask your visitors what sort of products they would like to see you come up with. This will certainly be a great way to get some product ideas.

New market
Take one of your products, I mean existing products, and find a fresh new market for it. You will have to make enough modifications and add bits and pieces to it, to make it look like a new product to woo the new market. Then repackage it and there you have a brand new product in a brand new niche.

There will certainly be several others, all you need to do is look around and imbibe what is happening and you will find the answers yourself. Where there are questions, answers are found automatically.