Find a Niche

Follow the Steps

Finding a niche is the key to having a successful information product. A niche is a group of people who share the same problems or desires.

A successful niche is one that has enough people in it to provide an ongoing source of income but which is also sufficiently specialized to make it easy to identify and reach the people within it.

The three mistakes that many people make with creating information products are that they create products that are:

• Much too general in scope.
• Not based on solid market research.
• What interests themselves rather than other people.

If you think of your information product a bit like fishing, is your product attractive enough as bait for you to hook enough customers?

The most successful information products set out to solve problems for people or to make their life better in some way. Here are some examples of people who will buy information products. People who:

1. Are in financial difficulties. Can you help them out of debt, save money or earn more?
2. Who have pets. People love their pets and will spend lots of money on them – whether it's to pamper them or make them behave better.
3. Want to improve their health e.g. to live longer, lose weight, look better, feel healthier.
4. Want to make money through investments such as the stock market. New investors are especially eager for all the information they can get.
5. Have relationship problems whether they want to find a new relationship or get out of an old one.
6. Want to learn about and travel to new destinations or learn a new language.
7. Want to improve their performance in sports and games.

The question is are these people interested enough to buy your information product?

How can you find out before you spend time and money developing it?

You can use various Internet resources to find out if people are already buying products on this topic:

• Go to search engines such as Google, Ask.com, Live Search and Yahoo Search. Key in terms related to the topic and see how many pages come back in your search. If there are a lot of pages, you probably have a topic where there is a great deal of interest. However you also want to check the number of times people are searching on these terms. One tool you can use for this is freekeywords.wordtracker.com
• Go to book sales sites such as amazon.com and see how many books and audio products there are on the topic. Look at subjects where there are lots of books but no audio products. Find out what comments people are making in their reviews and see what is lacking.
• Go to auction sites such as ebay.com and track what people are buying and bidding on.
• Go to online marketplaces such as clickbank.com/marketplace.htm and find out what the top sellers are.
• Go to online forums and discussion groups and see what problems people have and how they are being solved.

If there is already interest in the market, it's worth looking at it more closely.

If you can't find much on the topic, you may be tempted to think you've spotted a great opportunity but chances are greater that there is not enough market to justify your product.

Abbeys' Advice
Many people rush – or even skip completely – the market research phase but time invested here will be well rewarded later on.

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