Popular In Search
Let’s start learning some more about your niche. Let’s assume that you feel confident that there is a sizable number of people in your market.
How can we now determine whether these people are actually interested in your solution?
And do they have any specific pain points that you can resolve?
This time we are going to turn to Google’s Keyword Planner Tool.
Once you pull this tool up, all you need to do is type in keywords that you believe your market would enter to find your product on Google. There is no perfect way of doing this, so just take an hour and try a variety of keywords and keyword combinations.
Because I do not know your topic or keywords, it is hard to give you a specific number of searches that you should seek. However, for the main keywords that you choose, there should be at least 10,000 searches per month. It’s ideal if there are even more.
In some niches, people use a lot of different keywords for their searches. In these cases, each individual keyword may not give you a result of 10,000. But when you add up the search numbers of the main keywords, you can often end up with a very strong overall search number.
Now go and see if your market is interested in your potential information product.
Where Are The People?
It’s a common myth that competitive markets should be untouched and you’ll be better off finding an noncompetitive small market. This is bad advice.
Never be the first to release a digital product in a niche in which no one else is already selling a digital product.
In the beginning, it’s smartest to go into a proven market where you can emulate a proven model.
Just think about that for a second. Why are those markets competitive in the first place? It’s because they’re selling what people want and people are actually making money selling to the customers.
You got to go where the people are, plain and simple.
When you see competition, great. Based on some online research I did the biggest pain points people have are:
- Individual / Personal Satisfaction
Look for different ways to break into your niche by niching down. Let me explain, look for different ways to break in. Specialization is key.
Let’s niche down weight loss:
- Weight loss for brides (Broad)
- Kettle bell workouts for women (Broad)
- Lose weight fast after pregnancy (Specific)
Being specific you’re specializing and targeting less competitive markets.
Speak The Right Language
Every market has it’s own language you need to learn it! Plumbers, brides, make money online, body builders, golfers, all of them they have their own language.
If you are going to sell to them you need to speak their language.
The companies that are desired the most, profit the most. Think for yourself, what do people desire? Not just need but also want? What are their emotions pulling them towards?
You have to create a brand with a strong desire build into it to differentiate and charge more.
Opportunity Products Are Where the Money Is
The best type of opportunity products are the ones with minimal production cost, and little to no carrying cost or inventory. Online is the perfect vehicle to run with this dream. Low cost, passionate markets, and high profits.
Think about why people usually go searching for things online. They have a need and desire that they want to be fulfilled.
When it comes to deep seeded insecurities, or things that we like to keep private people prefer the anonymous nature of the internet. That’s why they go online and that’s their first place of search.
Sales Funnel Profitability
With your sales funnel, you’re going to have a feeder products. This is common in all areas of marketing, even traditional offline marketing. Your feeder product, that’s one that attracts customers, who might be interested in other products, which you have, which are more profitable to sell.
Then you have a funded proposal. This is where products are sold in a sales funnel to help fund the marketing and the advertising expense that’s necessary to get new customers. A funded proposal is generally not profitable unless it’s paired with a primary offer.
Oftentimes, these might even be a lost leader. You actually lose money on that first sale just to get a customer.
Your primary offer, that’s the main product that you’re selling. Other products in your funnel are either feeder products, funded proposal products or both at the same time. These other products serve to fund your advertising or attract customers to your primary offer or a combination of both.