+ RSSFinding a Niche to Target with 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.
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 example, golf is a very expensive sport. Typically golfers have money to burn if they believe you can help them improve their score or beat out their friends (competition) on the links.
But another niche, such as single moms on a budget may not be willing to pay $67 for an information product showing them how to get organized. Sometimes it depends on the solution itself. Targeting this same niche of single moms, you may find some are willing to pay $47 for an eBook that shows them how to make more money working from home than they do in their regular 9-5 jobs.
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.
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
