Finding a Niche to Target with Information Products
Posted on Jun 05, 2008 under Internet Business | No CommentBefore 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.Some niches, as you’ll discover, aren’t as profitable as others. You need to look at your audience and see if they’re willing (and able) to spend money for the solutions they’re seeking.
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.
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 aren’t just looking for any broad group of people to cater to. You need to find those groups who have a lot of problems and are looking for easy solutions. In the beginning, you may want to build a series of products that all focus on one niche. This allows you to benefit from your own increased knowledge, as well as potential repeat customers.
In some instances, you’ll find a large niche market and then realize you need to develop your information product line around a more targeted, narrow section of that niche. For example, parents are a group with plenty of problems you could potentially address. Raising intelligent kids, saving money, preventing drug and dealing with discipline, use might be a few.
You can then narrow things down further to moms or dads and it is no stretch to dig even deeper and focus on something like parents of multiples or parents raising kids with physical ailments. Remember – your information product isn’t really a product at all. It’s a solution, and it needs to be marketed as something that will improve lives