Scouting Your Target Niche For Information Products
Before you begin selling information products on the Internet, you want to make sure you’re targeting a niche that will be profitable for you in the short and long-term. A niche just means 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.
On the other side, a target market of single moms on a budget may not be willing to let go of $67 for your eBook on how to get organized. Sometimes, though, it depends on which of their problems you are trying to solve. They would like to get organized, but they need more money. Targeting this exact same niche of single moms, you might find that many are willing to pay $47 for your eBook showing them how to make more money working from home.
One good place to start is with online groups and forums. You can go to iVillage or Yahoo, Google groups, or Boardtracker and see what kind of groups garner the most posts. Men’s groups such as AskMen might give you insight into what kind of information products this portion of the population might need that help you generate a handsome 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.
Sometimes, you’ll find one large niche and then realize you need to build your information product line around a more targeted, narrow niche of people. For instance, parents in general have many problems you could address, such as raising smart kids, dealing with discipline, and saving money.
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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