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Selling information products requires one key ingredient (Part III)

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Before you start selling information products online, you need to establish an audience in your chosen market. What do I mean by this?
 
Far too many people attempt to make online riches by creating products without checking whether there are people who want to buy them. No audience equals zero consumers which mean no sales and wasted time, ultimately disappointment and frustration.  
 
Before developing any information product, you must first identify a potential online market using Google’s External Keyword Tool. In Part I of this three part information products series, the search results for ‘sexual positions’ indicated that ‘better sex’ and ‘Kama Sutra’ were highly sought after keywords.
 
This is a good thing, especially if you are keen on selling a book or other digital product on either of these topics. It tells you that there is an interest out there, a source of possible customers. However, the fact that internet users are using search engines to find more information on ‘better sex’ or ‘kama sutra’ does not mean that they want to buy related products.
 
It is essential that you evaluate keywords to find out if they are used by people to buy online products. So once you have identified a potential market, your goal is to do a little research to find niche or micro-niche markets that are profitable, where you can make money selling your own information products.
 
This goes beyond doing simple keyword analyses. You need to understand your potential customer. What problems are they facing? What information do they want? Where do they hang out on the internet? How can you best get your message across to them? 
 
A person wanting more information on ‘better sex’ for example may be interested in educational videos or graphical handbooks on various sexual positions. Alternatively, he or she may be after a diet or exercise program to help improve his or her sexual health.
 
The point is ‘better sex’ is too broad a market for an information product. You need to break it down into specific pockets and understand exactly what information about ‘better sex’ is required.
 
There are many resources out there to help you uncover niche markets worth your while and to learn more about market trends and customers.
 
Here are four popular approaches to get those creative juices flowing:
 
1. Analyse competition:
 
Start by typing your search term in Google. Analyse the top 20 results and have a look at the products or services on offer. This will give you an indication as to what information people are willing to pay for. If there are no products or services in the top listings, the market may not be profitable.
 
2. Ask other people what they think
 
Friends and family are a good place to start. Ask them how they feel about your area of interest. What’s important to them? Granted, it may feel a bit uncomfortable probing your mother in law about her stance on ‘better sex’, but her personal views may give you valuable insight into developing a new information product. If you have an existing database, a survey will come in handy. Try surveymonkey.com to get started.
 
3. Search Amazon and Clickbank for ideas
 
Have a look at Amazon and scroll through the various non-fiction book categories until you find a niche that you would like to step into. Similarly, use the marketplace link at Clickbank to find profitable niche markets. You will be able to rank online products according to popularity and profitability, which will help you uncover hot topics.
 
4. Read magazines covering your area of interest
 
The fact that there is a magazine about a certain topic tells you with some certainty that it’s a hot niche. And if there are a couple of similar magazines on a topic, you can bet that it’s profitable enough to withstand competition. Check out magazines.com and search for a niche that interest you.
 
Before selling information products, you have to do your homework. Find a market of interest, dig a little deeper to uncover profitable ideas and decide what kind of product you want to create.
 
Just remember, no matter how much research you do or how many people you speak to, your chosen market may not guarantee success. Most people get stuck searching for the perfect market. Don’t waste your time. The big thing is to follow these basic guidelines and take action.
 
Thanks again for reading.
 
PS: Don't forget to post your comments if you have any.
 
Cheers for now. 

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