How to Get Ideas for a Niche
Product creation is extremely exciting. You get to create your own product, and people pay you for that product!
It’s truly a dream come true for an Internet marketer. You choose what to create, create it, and earn money from it.
You get stars in your eyes when you think of all the success stories you’ve heard from other infopreneurs. There are people out there who are earning millions of dollars from their info products—something to aspire to. You’ve even heard of new marketers earning hundreds or thousands of dollars from their first launch.
That’s something you want for yourself. You want to target a profitable niche, create an excellent product that will really help people, and collect the rewards.
Maybe you’ve created a product before. How did it do? Maybe you’re hanging your head low because you thought you did everything the right way, but it earned next to nothing. You feel like all that work was wasted.
Maybe this is your first time around and you’re really nervous. Is it even worth it? After all, for all the success stories there are out there, there are tons of stories from disappointed marketers who tried their hand at product creation and it didn’t go as planned.
Still, you know that many, many people have successfully created info-products and earn a full time living from doing so. Sure, massive success stories are few and far between but you know of average Joes and Jills earning full time incomes with product creation.
What’s their secret?
Whether you’re new or experienced, the secret is all in the niche you choose.
Way too many people dive right in and create a product that has next to no chance of becoming profitable—no one is willing to pay for the information. Just because you think it’s a good, profitable idea doesn’t necessarily mean it is.
It might be good, but it might not be profitable.
It’s always important to do your research ahead of time. There are ways you can accurately predict whether a product will do well or not.
The people that are earning a lot of money with product creation are doing so in profitable niches. They’re finding great, unique angles on those niches and know their audience well enough that they’re able to hit it out of the park more often than not.
It’s a shame, but many people skip right over niche research. They feel like it’s a waste of time or that it will take too much time to do.
Well, I’m going to give you a niche research method that’s simple to use and is as close to having a crystal ball as you’re going to get.
Do yourself a favor—do your niche research ahead of time, make sure you have a popular and profitable idea, and then create your product. You just might find that you become one of those ‘instant’ product creation success stories. And it’ll all be because you did your research ahead of time, just like the most successful info-preneurs in the world.
Getting Ideas For A Niche
How are you going to get specific ideas for a niche, knowing what you know now? It depends on the type of product you’re interested in creating.
If you plan to write a book for Kindle, for example, you’ll want to do the majority of your niche research on Amazon.
Amazon makes it really easy to do niche research because they show so much data, if you know where to look.
For example, you can easily see the bestsellers in any category. You can also look at the movers and shakers, upcoming releases, and more. If you want to find a great niche, and you plan to publish on Amazon, go ahead and look for the niche you're interested in on Amazon. Pay attention to which subcategories and specific topics are selling well. You can learn this by looking at its sales rank – the lower, the better. If you plan to release your own infoproduct vs. self-publishing on Amazon, it makes sense to look at the marketplaces where you might release your work. JvZoo.com, ClickBank.com, WarriorPlus.com, and others are great resources for research. Go where the successful infopreneurs already are and figure out what the hot topics are.
As I like to say, success leaves clues.
You can get some great ideas just by looking through these marketplaces. Something might stand out to you that you’ll want to explore further.
There are certain topics that are fairly evergreen – they’ll pretty much always be popular. There are other topics that are trendier. The topic might be really hot today but not so much in the near future. Focusing on trendy topics means striking while the iron is hot.
Again, there are several different marketplaces where you can get ideas if you don't already have some direction. Take notes on what you find and go with a popular niche you enjoy and you’re reasonably sure you can be profitable in.
In the early stages of tackling a niche, it will probably make more sense for you to focus on topics that are narrow in nature. This should be a popular, profitable topic that’s easy for you to zero in on.
You wouldn't want to target the entirety of making money online, for example. But you might want to target how to create a blog quickly, how to lose weight after having a baby, or whatever specific topic within your chosen niche that you want to go with.
Checking For Popularity
It's very important to check for popularity before you officially settle on a niche or a sub-niche. You don't want to waste your time on something that just a few people are interested in. If you want to make money, and I know you do, then you need to know it's really going to hit home with your target audience.
So, how do you check for popularity? It's easy – see if there's a lot of buzz about it online. If people are interested in it, then you can be sure there will be lots of related products, lots of chatter on Facebook and Twitter, news stories, blog posts, and more.
If there's next to no chatter about the topic, then it's a safe bet that it's not something you should go for. The more chatter, the better. You really want to be able to get a lot of traffic once you launch your product, so it makes sense to ensure the traffic is there in the first place.
Checking For Profitability
Just because something is popular doesn't mean it will also be profitable. Again, you're in this to make money as much as you are to help people. And that's something you will be doing with your products – helping people.
So in addition to making sure there's lots of chatter and activity related to the niche or sub-niche online, it’s also important to make sure there are lots of products already being sold successfully. If there are lots of related products out there, then it's a safe bet that people are actually making sales. There are many savvy marketers out there who are always looking for a good niche—again, success leaves clues. Now, just because you're making sure there are already related products doesn't mean you're going to release a copycat product. You want your product to stand out. So, you have to be careful and hover between what’s already proven to be profitable and carving your own path. Go back through the marketplaces you're considering releasing your product in. What’s selling well? Is the topic you're interested in specifically selling well? If you do a little digging, you can often find this information. Consider whether people have taken ads out related to the topic. If people are spending money on advertising campaigns, then you can rest reasonably assured they're earning money with the products they’re advertising, especially if there’s more than one or two advertisers. Of course, you can never be 100% sure that any niche or sub-niche is going to pay off. What you can do is do your due diligence ahead of time so you have the best possible chance of success.
Understanding Your Audience
If you’re going to succeed in a niche and target it in the right way, then you need to understand your audience. What do they really need and want? Part of being successful in creating your own info products is understanding your audience. You might assume you know what they want, but do you really know?
Do some digging online. Get to know people via online forums, on Facebook, and on Twitter. There are often online groups you can join and examine to get to know your audience more. Take notes and you'll probably find that you have an endless supply of potentially profitable ideas that will really hit home with the audience.
Researching Your Topic to Find a Unique Angle
I've already mentioned that it's important to find your own unique angle. You don't want to just go with the flow. Sure, follow the trends of what's popular or evergreen. Sure, make sure there are already profitable products out there. But you never want to release anything that’s just a copycat.
Brainstorm ideas based on what you've uncovered about your audience. What do they really want that hasn't yet been made available to them? One great thing you can do is check out books on Amazon or another marketplace and read the reviews. Read through the very positive as well as very negative reviews.
You'll learn what people really like as well as what they wish were in the products that are already on the market. This is one of the best things you can do to find a unique angle to make sure your product stands apart from the pack. Best of all, this method is super simple and you can use it very quickly.
The One-Problem, One-Solution Focus
Before I leave you to your niche research, I encourage you to go with the one problem, one solution focus for your info product and niche selection, especially if you’re just starting out.
What is one problem that people in your niche are desperate to have solved? You can probably come up with the answer to this by digging deeper into your niche, as you've already started to do.
What is one powerful solution you can research or come up with to help your audience solve that one problem that they’re having? Now, you can easily create a product dedicated to this one problem and offer this one solution to them. The one problem, one solution product idea is simple and helps you focus – especially if you’re new to creating products.
Start Your Research
Now you know how to do niche research so you have a high chance of success with your product. Hopefully, you'll find this process is entirely painless… and maybe even fun.