Finding a Market for Information Products
Tuesday, August 28th, 2007...7:13 am
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Internet marketing opens up a world of opportunities. However, the one thing that needs to be taken into consideration when selling information products is that you target a profitable niche. Your target audience is your niche in this case.
As you get spend more time researching the world of internet marketing you will find in time that all niches are not equally profitable. You should study your audience well and try and assess their willingness as well as their ability to spend money in order to get the solutions for their problems.
Golf is an expensive game in itself and golfers would come under the niche of wealthy individuals. They are also known to be obsessed about the game and would readily spend money on anything that will help them improve their game or beat their competitors.
However the single mom niche is quite a different story. Single moms are usually on a budget. To them, spending $67 on some information product that promises to teach them how to be better organized is something they can ill afford. But then again, a lot depends on what is the product that is being marketed. This same niche, consisting of single moms would be happy to pay even $47 if the product you are selling is an eBook that will teach them ways of increasing their income whilst working from home rather than at their regular desk jobs.
Online forums and groups are a great place to begin with.
Yahoo and iVillage are the best sites to go to and check the kinds of groups that attract the most posts. Going to other specific groups will give you a better idea of the type of information products that particular population may be looking for. For example, if you went to AskMen, you’d know what men were looking for.
After all, what you are looking for is not a whole bunch of people; you are just looking for people who have lots of problems. Remember that when you begin developing your information products, it is preferable to create a range of products targeting the same niche. This allows you to market to loyal customers who already purchase from you regularly.
Sometimes you may find one niche that is quite large, but then your information product line will need to be built around a narrow and more targeted niche of people. Parents, for instance could be your target. You could help address many of the problems that parents have, including saving money, dealing with discipline and raising smart kids.
Now you can go ahead and narrow that niche down even further by targeting only dads or only moms. Further categorizing could include parents raising physically disabled children or parents of multiples or singles.
An information product is, in the strict sense, not really a tangible product that can be used. What it is, is a solution and accordingly it has to be marketed as a live-improving product.
But you can then narrow that niche to moms or dad 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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1 Comment
August 29th, 2007 at 2:26 pm
Heh, wow, nice, that was a good read, useful informations. Thanks
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