Niche Marketing Beginner Phase
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Everyone wants to make big bucks online but the first action we must take is to find a good and profitable niche. You need to know who you are going to sell to and find out what they are demanding. After that, we just need to supply what they need and money comes your way.
Why Is Market So Important?
Here’s why. If you are having a shop that’s selling fried sausages in a neighbourhood of vegetarians, don’t expect to profit or even make a sale! These die hard vegetarians that have carrot juice pumping in their blogg won’t buy your sausages even they’re hunger to death.
As a conclusion, instead of focusing on your drean product, brainstorm and find a profitable market. Once you unlock the profitable market, money will even grow on your garden’s trees.
Digging The Profitable And Hungry Market
You must find a group of people that is hungry for your product and making triple sales is relatively easy and no work is needed. This market will buy your products even if your site is not perfect, you sales letter sucks and you are having low quality graphics or even your writing has broken English.
Let me give you an example:
Won’t you buy a bread that smells bad and looks rotten if you are in the middle of the dessert and haven eaten nothing for the past 5 days?
But how do you know a market is hungry?
- The market has money. Do you want to waste your time and money creating a product that the market can’t buy?
- The market is saturated. Do you want to waste your energy creating something that will not be able to compete with other leaders?
- The market has a great and unchangeable passion about something or they have a very problematic issue. You will need to be able to solve their problems and provide solutions or tutorials to their passion.
Why A Niche Rather Than Generally?
To generate a stream of fast flowing cash, you’ve really got to make money 24/7 and that means you must need to sell things automatically. I know you can make a lot designing blogs or graphics but what if you are in hospital? The rescuer to this problem is selling info products but which niche is popular? Which niche is full of hungry customer and not saturated? This is exactly the question you need a niche.
Ever heard of the Pareto Principle? This principle states that 20% of work gives you 80% of the results. In other words, this principle tells you to work SMART but not HARD! If you are able to dig up the 20% that allows you to succeed with 80% of the results, with no competition, not much work and this will make you a successful person in no time!
For many events, roughly 80% of the effects come from 20% of the causes.
-Pareto Principle
The Researching Phase Before Venturing Into IM
The most important stage of your research process is finding the answers to the questions you have compiled in your notepad or word during researching a specific niche.
There are a few methods to find out the answers, here are the main ones.
Internet Research – This is the most obvious. As I’ve already said, there is a wealth of information online if you can locate the right info, it can become a gold mine. Do a few Google / MSN / AOL searches using different keywords and try and find the answers to your questions. If that fails, visit the forums again and browse through the old topics and see if the question has been answered before. Failing that, move onto the next step.
The Library – Yes, it may sound old fashioned now due to the revolution of eBooks but library’s still exist! Visit your local library and rent a few books all about your niche try and find the answers to your questions and add extra information if you feel it will be beneficial to your target market. Failing that, move onto the next and final step.
Ask the Experts – Your task now is to locate the experts in your field and ASK THEM! Go back to the forums and find the most common posters and the members who provide the most valuable information and seem most knowledgeable. Find their e-mail addresses and assemble all contact details including their name, forum ID and any other relevant information about them into another word document.
You’re going to e-Mail them with your questions in the hope that they will respond with some valuable information. But wait! You can’t just e-mail them out of the blue in the hope that they will respond to your question with no reward for themselves. There are a few things you need to do first in order to get them to answer:
1)Firstly, make contact with them through the forum they post on. Just respond to any of their questions, back up their responses or just indulge in some general chit-chat. If you can get on first name terms with them, it will greatly enhance your chance of a response.
2) Secondly, you have to give them an incentive to answer. It’s unlikely they’ll do something for nothing. These people more than likely have businesses to run and don’t have time to assist others. But what incentives could you give them? You could give them a cut of your profits from your eBook but if you’re contacting many different experts then you can’t offer them a substantial fee and sales of the eBook can become very messy. You will also have to purchase an affiliate script which can be costly if you’re a newcomer to the eBook business. You could offer the experts resale rights but again, if you’re reasonably new then they could easily outmuscle you with their reputation, websites and e-mail list and you will have no profit to show for your efforts. The only effective incentive you can offer them is that you will include a link to their website in your eBook if they respond. This has no effect on you, but could be very advantageous for them if you’re eBook proves to be a best seller.
OK. If you have 15 questions you want answered and have 5 “Gurus” then send three different questions to each guru to cover all 15. Maybe you’ve answered some of them through your internet research or book research. Hopefully, all experts will reply, however if they don’t you could either send some of the unanswered questions to the ones who did respond or alternatively find more experts and ask them.