"If you do not find out what people want before you create a product on a hunch, then you could end up with a product that never sells. You then not only have wasted your time creating the product, but you will also waste money by advertising. This is a pretty important step."
What Types of Info Products Will People Buy?
Those of us new to marketing – on our first time out with an info product – create a product on something we are familiar with. In our eyes, it looks like a real winner, because we know we’d buy the ebook if we found it for sale online.
So we blindly head into the next step – paying for advertising, investing time into building a website, writing articles and press releases, etc. Spending all kinds of money and time trying to sell a product with little luck. If we don’t give up on the concept of niche marketing and making money online at that point, we likely decide to learn more about internet marketing as a whole, (and not just niche marketing specifically) where we eventually discover that our great idea doesn’t actually have a defined market. (Now stay with me, this starts to make sense in a moment…)
Still sometimes, the market does exist, but it has no money.
So before just jumping in any niche market, consider ALL of the factors.
Here are a few you need to look at:
- The amount of competition you will have, and how big the competitors are.
- Whether there is a market for your product.
- That market has to have money for your product.
- Is the market growing, or declining in interest?
- Will you enjoy the chosen market’s customers and referring other products to them later on in your niche market business?
All factors are very important, especially the last one.
I, and many others have found that when you really have true passion for what you are doing, then you can always do it one better than someone who never had passion for the business or has lost their interest. Enjoying your niche market will make the difference in how successful your business will be. It won’t seem like work to you, it will be more like fun!
Really Fast Money
(2008) – $5
As trainers in the make money online marketplace, we are inundated daily with emails from people asking “What would you do if you needed $1000 – $2000 by TOMORROW, and you didn’t see it (coming)…?”
So don’t jump into this business blindfolded. Understand your market fully and enjoy it. Brian Tracy once said “Find something that you really love, and put your whole heart into it”.
Here’s why Niche Marketing is THE Place to Start Your Online Empire
I quote Ron Ruiz here when I say, “It is much better to be the big fish in a little pond, rather than a little fish in a big pond”.
This is where niche marketing holds the gold. Choose a market or niche where you could potentially dominate it within short order. In your first online business you don’t need to find yourself up against the big guns with the big money – well established in their industry and ready to knock you over with their latest marketing thrust. Quietly build up your business in a market with very little competition, keep learning about growing your business and applying what you learn and you’ll succeed.
How to Learn About Your Chosen Niche Market
The 5 factors above will be revealed when you survey your market.
What Do People Want to Buy?
Once you’ve chosen a niche topic, you have to find out what people want before you spend your time on creating something. It would be completely foolish of you to spend time or money creating a product, a website, sales letter, bonuses, etc.. and then find out that there is no interest in the market for what you’re offering.
If you are thinking of creating something similar to an already successful product, then you need to figure out how to do it better than that successful product. Never waste your time creating something that is exactly the same as a product already selling successfully. You’ve got to do it one better, or with a twist.
How to discover what will make a product better than what’s currently available? Ask a few questions…
Survey your target niche market to find out what they want…
You’ll want to ask people in your target market a few questions to see what it is they are willing to buy, what problems they have, or topics they can’t find information on relating to the niche.
Here is how it’s done:
Create a list of product ideas in your niche topic that you are willing to create – 5 to 10 ideas is all you need. Then find out where your market ‘hangs out’ online (forums, message boards, newsletters, blogs, etc.) and offer them something of value if they’ll take a few minutes to answer a survey for you. (It could be a free copy of your upcoming product should you choose to create it. It could be a prize draw. It could be a short report on a similar topic. You’ll think of something, just ask yourself, "What would it take to get me to answer a survey?")
This will save you hours or even days creating products that might not sell. And when you do find what people want and give it to them at a reasonable price, you’ll know that you are creating a product for a crowd hungry for your information.
Surveying your market, step by step is on this page, but if you’re looking for a faster way to learn more about your market, check out some niche marketing software.