Scouting Your Target Niche For Information Products
Before you start selling information products online, you need to make sure that you are targeting a market niche that will be profitable in both the short and long-term. The term niche simply refers to your target audience.
You will discover that some niches are much more profitable than others. You will have to examine your audience to make they are willing AND able to spend money in order to solve their problems.
For instance, golfers have deep pockets because the game of golf in itself is expensive. They’re also rabid fans of the game who would do anything to improve their score or beat their competitors on the links.
Another potential target audience such as single moms on a budget may be reluctant to pay $67 for an eBook on getting organized, but if you target a different problem of theirs they are willing to pay. For instance, many may be willing to pay $47 for an eBook which teaches them how to make more money working at home than they make on their 9-5 jobs.
A good place to start exploring your target markets is with online groups and forums. You can find many at iVillage, Yahoo, Google or Boardtracker and determine which groups have the most interest. Men’s pages such as AskMen might give you some insight into the information needs of this group that might be provided at a profit.
You’re not only looking for large group of people to market to – you are looking for the large group that has a lot of problems in common which need solutions. As you start creating information products, you will want to concentrate on building a whole line of products in one niche to begin with. This will allow you to market to loyal existing customers who will buy from you many different times.
In some cases, you will locate one large niche market but then realize you need to develop your product line toward a more targeted, narrow section of that niche. For example, parents have many problems you could potentially address. Raising smart kids, dealing with discipline, saving money and preventing drug use might be some.
But you can then narrow that niche to moms or dads and dig deeper by focusing on parents of multiples or parents raising kids with physical ailments. Just remember that an information product is not really a product at all – it’s a solution, so it needs to be marketed as something that will improve lives
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