Are you getting excited? Great!
Now let’s stop flapping our gums and look at what digital product niches are actually out there for you to sell products and build email lists in.
Picking a niche is the first decision you’ll make and it’s going to have a big impact on how well your business will run moving forward.
A niche is a need or a problem that a lot of people have
Niche research is the most important step in the whole process and still most people skip this part. Actually this is where you will get a step ahead of most of your competition because this step is where you find a hungry market and learn everything about your potential buyers. You don’t want to create a product that nobody wants to buy, right.
I want you to look at it this way…
- You want to find a pond with hungry fish before you decide on the bait
- You want to know what problem you are going to solve and understand it in depth before you come up with a solution.
The niche you choose cannot be too broad. You have to pick a certain angle of the niche and just concentrate on that.
This will help you trim down the information you’re going to discuss and make your content more relevant.
Let me give you an example:
- Many people are looking for solution on “how to lose weight”.
- This niche is very popular but it is also very broad.
- I recommend you dig deeper and narrow your niche 3 steeps deep.
- For example: “How to lose weight naturally after giving birth to a child” or “How to lose 10 pounds fast and be able to fit your wedding dress.”
Believe me. If you get this right – your chances of getting everything right from there is huge. If you get it wrong you will fail no matter how hard you try!
How To Research And Find Your Winning Niche
In general I recommend that you choose a niche that you know about or that you want to know about. It is easier to work in a niche that you are passionate about!
You do not need to be an expert on the topic but it is of cause easier to create a product around a topic that you are interested and passionate about.
You will have to be ahead of your potential customers to be able to create value and help them or you can choose to team up with an expert and have the product created together with this person.
First of all I want you to do some background research. This will be very helpful for you especially if you’re still struggling for ideas on what niche to choose or if you’re still unsure whether your idea is a good one.
It is a good strategy to look at the successful sellers in your niche and model their strategy
You want to see what problems they are solving or what needs they are addressing in their marketing.
You can read their sales page and join their mailing list. This will help you learn what they do to attract buyers.
One way to do this is to take a look at the top sellers on JVZoo.
You can find those at: www.jvzoo.com/products/topsellers.
By looking at these you can get a feel for the kind of thing that sells well. What you’ll probably notice is that a lot of these products focus on making money or running online businesses.
The reason these are so successful is because people are more willing to spend money when they believe they’re going to make that money back. At the same time, making money is something that gives people a very clear value proposition and is an “easy sell”.
If you want to do something along these lines then you can compete directly by creating another “make money product” and in likelihood you’ll find there’s a big audience there waiting. You should consider buying a top product and pay close attention to everything the seller is doing.
Alternatively, you might choose instead to try something completely different e.g. in order to pursuit your favorite topic. Going the route of selling an ebook about a specific topic in other niches is also a good option.
A great way is to browse Amazon’s best selling books in a category of your choice.
I really love this because you can get a look at the table of content and read reviews from real customers – it is valuable information when you’re going to decide on your table of content.
You can go directly there here:
http://www.amazon.com/best-sellers-books-Amazon/zgbs/books
Selecting a category will then bring up sub-categories. You’ll then be able to view Amazon’s Best Sellers:
Take a good look at the best rated books and see the table of contents.
This is very valuable information I can’t understand they just give it to us like this. I’m not telling you to copy the best books or anything but you can get inspired and base your outline on a combination of the books you find.
Clickbank Marketplace is also a great place to do niche research.
You can go directly there here: https://accounts.clickbank.com/marketplace.htm
You can go to the Category you want to research and sort the results by popularity and look at the top products.
If there’s more than five products with Gravity of 5 or more you know it is a niche with buyers and sellers and you should be able to make money.
Remember, I recommend you also take a look at the sales pages to get a better knowledge of the niche.
Selecting a niche – let’s recap
When you have decided on a niche you should make sure it is popular.
This is especially important if you don’t choose a top-seller market. You want to make sure there’s multiple products or books in the niche.
You want to narrow your niche and make it very specific.
I recommend that you go 3 steps deep in the niche and decide on working with “one problem – one solution.”
Let me give you an example:
- Niche = Make Money Online
- 2 deep = How To Get Targeted Website Traffic
- 3 deep = How To Get Cheap Targeted Traffic From Facebook From Video Ads
Now take action and pick your niche based on your interest and research.
Validate your niche:
- You found a popular niche with multiple hot-selling information product or/and books (a niche motivated for buying)
- You know what your audience is most frustrated about or most interested in (you can tell from the topics addressed in the best sellers)
- You have chosen one problem to solve for your audience (one problem – one solution)
Now that you have decided on the niche and you know the specific problem / solution for your digital product it is time to move on to the next step.
A digital product is of course anything you can sell that has no ‘physical’ element but I recommend that you start with an eBook if this is your first product.
It is time to decide on the actual product outcome and decide what product you are going to create. This is a fun and interesting step.
A Fire Fighter Doesn’t Water Your Lawn!
Did I get your attention? Good!
Okay you have decided on a very specific niche with a specific problem and you should also know how to solve it or where to find the solution. Then it should not be hard to outline your winning product idea. Let me explain.
I always make sure to find a “hook” to create my product around.
Think about it like this:
- A fire fighter does not water your lawn
- Firefighters are called to deal with a specific and urgent problem
Why are we talking about fire fighters?
Because you want to be a fire fighter for your customers. You have to know what keeps them awake at night – what is the fire that you want to help them fight.
Focus on one problem and prepare to show how to solve only this one problem only – in a straight forward and actionable way.
A lot of people fail because they want to make their product so complete that every aspect has to be covered. They end up over-complicating everything and most likely they will never complete the product. Your product outcome must be simple and you have to focus on “One problem, One solution.”
Your potential customers want solutions and they want them in an actionable way. Don’t try to fix everything!
1) First write a clear outcome statement
What do you want your customer to learn? What is the transformation they’re going to have?
2) Then create an outline for your product
It is important to get the structure of your product “down on paper.” I recommend that you make a list of the information and action steps that you’re going to cover in your product (just headlines and sub-headlines). It is like drawing a fish bone and it will make it much easier to add the content afterwards – “the meat.”
I like to use a free mindmap tool to structure my products.
This is just an example to give you an idea about how you can use mind maps.
I use a free mind map tool called “FreeMind” and you can easily do the same. I found a tutorial on youtube to help you get started.
When you are done adding your headlines, take a look at the steps and see if you should follow a particular order.
Take this course as an example, you’ll notice that after a short introduction, we tackled the main idea first. Then the training follows and it’s divided into action steps with related subheadings.
If you need more inspiration you can go to Amazon and take a look at the table of contents of the most popular and bestselling books in your niche.
Getting your product ready fast and easy is essential, so you can start building your email list. I don’t want you to work on it for weeks or even month like most other people. I therefore provide you with 3 powerful options to choose from.
Option #1: Create the product yourself
Creating the product yourself is the best option. This way you’ll be able to take tight control over the creation process and make sure to offer something genuinely new and interesting. Of course this option will take the most time and use of your skills but if you know the topic you can create a valuable product in a few days or even hours.
Option #2: Outsource product creation
This option is also a good choice but it mean hiring a freelancer to create your content. You will have to invest some capital upfront but possible to find skilled freelancers at a very affordable price. The hardest thing about outsourcing is to remain in charge of the creation process and make sure you get the content you want. If you fail to describe what you want or if your freelancer simple don’t understand it will slow you down and be waste of money.
Option #3: Buy or license other peoples products
This option is perfect for start-ups entrepreneurs like you because it will speed up the process. I like to buy high quality products with private label rights and use them as a starting point. Some times all you need to do is to proofread and re-brand the product. This is the quickest way to get going but you will need to control the overall quality of the information.