Information Products | Niche Development

In the last post we discussed how market research must be done before making an information product. And we concluded that if there are absoulely NO products in that niche then it probably is not a viable, or money-making, niche. There are some niches which are just dreadful on either not having money or not spending it. I mean, I've encountered a few. A lot of the New Age or New Age religion communities, those are great niches and there's a big demand for information or for information products, but there's very little willingness to spend money.

So, a lot of them are either students or people that have shunned their worldly goods because they're into the spiritual life or whatever it might be, which is their choice, that's fine. But, as a marketer, for me, that's not a profitable market. Absolutely not.

So, check the niche. Are they actually willing to spend money in that niche?

Go through Google, put in your key words, look at the AdWords ads. That's always a good way to tell if a market is profitable. If people are willing to spend money on AdWords, advertising information products, then you know that there are sales being made. And if that is the case, then you know that there's possibly room for competing product.

Hey, in fact, in any market, there's always room for competing products. Don't think, oh, I can't enter that market, there's too many products. Rubbish. Get out there. Create your product. Make yours better. Make yours different. Target a specific niche. Whatever. Get in there and create your product. You can succeed.

And, look out for other information products. If necessary, buy a couple. If you've got the money, buy a couple and see what content they cover because that gives you an idea on what to include in yours and tells you what you need to do better.

You can also look for product reviews, as well. Look for people talking about information products. That might give you some ideas too.

And finally, search the forums for reviews of people's information products. If you go into those, you're bound to find people talking about products. And if they are, then in all likelihood there's a demand for it. If the forums are dead quiet and there's nobody mentioning products, then it may not be the market for you.

It may be that the market won't accept an information product and it needs to be a physical product. It really, really depends.

But, this process is one you have to go through. You have to first identify a niche. Once you've identified a niche, then you need to see if it feasible. Are the people spending money? Are there competing products? And if you know that, then you can either target your product idea further. Is it for women, for children, for teens, for over fifties, for single men, is it for married women? But that's a discussion for the next post!

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