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Market Research


I have a few ideas for software applications. I guess they would fit into the "shrinkwrap" type. I have no idea if there are any potential customers for them. My ideas will help me personally, but I am wondering if there is a need for any one of them in the consumer market as well. In fact my ideas are not that unique. Just better executions of applications which somewhat exist. Not clones per se, but not completely brand new either...

What are my options for doing market research? I've never done one before although I did read that most of them are useless... The context was different though (namely not for software)

Any ideas would be appreciated.

Thank you!

What Can I do?
Friday, August 06, 2004

Try npd.com, they compile regular sales figures on all retail software, and give pretty thorough market reports and analyses. Typical reports are in the US $5K range, but worth it if you're serious. 

Obviously the best indicator though, are the sales figures for similar products, so you should also subscribe to that. Pretty much everyone in my industry (games) subscribe to them, and religiously follow their numbers.

Clippy
Friday, August 06, 2004

You should probably also read the chapter on Research in The Product Marketing Handbook for Software to obtain an idea of what a research program for a software product encompasses.

Friday the 6th
Friday, August 06, 2004

Try this program:

PRODUCT IDEA EVALUATOR
http://www.wilsonweb.com/art/tools/pipe_review.htm

Not perfect, but gives you an idea of:

1. How many customers are searching for a keyword (i.e., "software for managing addresses"

2. How many companies are targeting (buying traffic) for that keyword

Mr.Analogy
Friday, August 06, 2004

Friday the 6th,

Have you found "The Product Marketing Handbook for Software" to be a good and useful book?  I keep threatening to buy it, but it's not offered on Amazon, so I haven't ordered it yet.

Ewan's Dad
Friday, August 06, 2004

The P.I.P.E is an interesting idea but as their website reminds me more of penile enlargement  than market research I'll pass on finding out more.

Rule #233 in the Lucy rules of Websmithery.
A site that scrolls has proportionately less interest for the user the more that there is to scroll.

Simon Lucy
Friday, August 06, 2004


Mr.Analogy,

Have you actually used "PRODUCT IDEA EVALUATOR"? Their website looks so crappy... I lost all faith before even downloading the product which requires me to submit name and e-mail. It smells like "spam database" to me.

What Can I do?
Friday, August 06, 2004

I wonder if you could use Google AdWords.

Buy a cheap, small number of impressions on Google. Create an ad describing the product.  Link it to a simple page which  saying this is a proposed product and you're seeing if there's much interest, ask for comments. And be honest. (Don't pretend it's coming soon if it isn't.)

See how long it takes to get your click-throughs.

phil jones
Friday, August 06, 2004

The Product Idea Evaluator sounds like it's using publicly available information, so I don't see why a clever person would have to pay for it.

www.MarkTAW.com
Friday, August 06, 2004

A clever person probably makes more than $150 in the time that it would take to write the software.

Edward
Friday, August 06, 2004

You don't need the software to find that information. Just go to Google Adwords and sign up and see what the bid prices are for various keywords.

www.MarkTAW.com
Friday, August 06, 2004

MarkTaw, that IdeaEvaluator obviously has a very simple process inside of it and it's results would not be hard to emulate without the software since it's sample report gives all the information. But the idea behind that software and how it makes money is marketing is marketing itself. The point of that software is to provide an easy to use solution for clueless people who don't know as much as an average poster on this forum.

to the OP, a full blown "marketing research" consists of much more than googling for terms and looking at the ad-words cost per click.  I won't say much but good marketing research includes alot of face-to-face or at least phone-to-phone contant with the target market, and as I see it, not a lot of geeks are very social :(

James Thomas
Saturday, August 07, 2004

That's ok, I had an idea for a similar software package, and I'd probably sell it to the same market. Though, it is a good time saving device, so I'd also market it to people savvy enough to know what it's doing, but want the convenience of having a bunch of research done with just one click.

But, I'm not a programmer, so I guess I'll shelf it with all my other great ideas.

www.MarkTAW.com
Saturday, August 07, 2004

Finally...The TRUTH about P.I.P.E. Software EXPOSED!

I thought you little forum groupies would like that.

I don't post on forums very often but one of my subscribers told me that some of the people posting on this
forum obviously didn't know what they were talking about and that I should respond to the comments about
my software.

So, I am going to set the record straight right now!

First on the block --- Simon Lucy. Odd name and even odder post by you there. Simon, so how many penile
enlargement sites have you visited lately? I'm not familiar with them? Can you send me some urls for
comparison since you seem to be the expert?

Still Simon - You said "Rule #233 in the Lucy rules of Websmithery. A site that scrolls has proportionately
less interest for the user the more that there is to scroll."

So, tell me this. How many of your sites have a sales conversion of over 5%? I'm guessing not many. We
have split tested long copy vs. short copy and I've never had short copy win. Have you ever even tried long copy?
Doubtful!

Oddly enough, we have this little rule. I'll call it Smart Marketing Rule #111 and it is: "If it doesn't make a profit, don't do it" We have made a profit with this software and every other product we have launched so I think I'll stick to my way but thanks for your opinion!

Proof of Point #1: My good friend John Reese just released an information product on August 17th that has a 60 page sales letter - Result - Over 1 Million in 18 hours (yes that is dollars). Don't believe me? Search on John's name and see for yourself. Or go to his web site

http://www.trafficsecretscourse.com

Like it or not, it was done and he gives a guarantee that he abides by just as we do for our software. I even actually have a link on my web site with a screenshot of an email from a guy that requested a refund and you can see how quickly we gave it to him and in turn what he said about our operation!

Proof of Point #2: I'm betting this is the longest post on this topic and people are still reading it! People read until they are no longer interested or have enough information to decide whether to try or purchase what you are offering.

Next up...."What Can I do?" - Think for a second. Why on god's green earth would someone like Ralph Wilson (see Mr. Analogy's post) promote my software if I was a spammer? His reputation would be tarnished!  Again, collecting names and email addresses through legitimate optin methods (I even confirm optins!) is simply good marketing and has allowed me to live a very comfortable life and work for myself at my leisure from MY HOME without having a boss tell me what to do! Plus, my marketing and software has helped many people do the same. Your turn...

Response to Phil - We do this all the time after we have performed an initial evaluation using our software.

You are truly on to one of the most effective wet testing methods that is available via online marketing. It is
sad that 99% of the people trying to make it online don't use this method.

Response to first post by MarkTAW.com -

I challenge you to clone this product! Many smart people have tried and can't do it. Why? Because the bid data is NOT publicly available like you say. We have private XML feeds that only a few other companies in the world can get! (and they pay 1K/month for it) How did we get it? Easy - Relationships. We developed relationships and gave of our knowlege and when we needed something, it was there for us.

Edward:
Funny thing about your comment is that I am making money while I'm writing this post all from about 25 long
form sales letters! Same cloning challenge goes to you as to Mark!

Second Post by Mark: You might want to study up on Google & specifically Adwords! Try and parse them for the amount of data we show my friend and see how quickly you get your IP blocked!

Secondly, they don't show you accurate bid data! Do
your research! We have been a top 50 Google Adwords Advertiser with our consulting business so we know
a little about Google.

Google uses a formula based on several pieces of dat including the Click through rate to figure out how much you pay per click. So, you can actually be above someone in the listings even though they are actually paying more per click for their advertisement! Check it out and you will see I am correct! You can only get the true real-time bid data with a private feed. Overture on the other hand is a true PPC auction NOT Google.

Response to James Thomas:

Same challenge applies to you. Clone it if it is so simple!

The true point of the software is to help people quickly assess the ONLINE profit potential of a market based
on the supply, demand and  the amount of advertising being spent on that market in the online medium.

Then, we recommend they wet test the idea. So many people are falling for "Get Rich Quick Schemes" and
are failing to profit online. We think it is disgusting and are help them to not spend several thousand dollars
on web sites and marketing before they even know if an idea has solid potential to generate profit. Once
again, please do your research on the way Google Adwords determines the bid price you pay.

3rd Response by Mark: Geez do you live on this forum? Good idea to put this on your shelf because we are
launching Idea Evaluator in mid-Sept. and it will be a bigger seller than PIPE. And guess what...shockingly
we will compete against ourselves! I hope I don't have to explain why...

As an afterthought, more competition is good so by all means get that software developed. Since several
posters seem to think it is so simple, I'm sure they can help you out. The winner will always be the best
marketer whether you like it or not. Smart Ethical Marketing backed by a unique product with a high barrier
to entry is the only way I operate.

Good day...

J Garris
Tuesday, August 24, 2004

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