Niche Product Creation: An Introduction
The easiest way to do business online is to bypass the hassles involved in stocking and shipping tangible products. Instead, the smart business owner either creates his own products or learns to market and profit from other peopleís products.
When you're creating your own products you donít need to reinvent the wheel, apply for a patent or own your own factory in order to have your own high value product. In fact, you donít need to sell anything tangible at all.
Some of the wealthiest and most successful business people online made their fortunes selling nothing more than information.
An information product can come in many formats: electronic book, membership site, software, subscription newsletter or even video. The most important thing about information products is that they can be delivered digitally.
This means that your product is packaged as a file which customers download right to their desktop. Your inventory is Ďvirtualí and there is nothing to ship. The customer receives immediate gratification and your hands are free of the dirty detail work of delivery, allowing you more time to focus on marketing your business.
Does information really sell online? If so, what types of information can you sell?
Letís tackle the first question. There is absolutely no doubt that information sells! The majority of people who come online do so in order to seek out information and find solutions to problems. Your job is to put yourself in front of them with the information and solutions they seek.
Donít think for a second that just because a lot of information is available for free online that people wonít pay to access an information product.
The average consumer puts a premium on their time. They will pay for your product if he thinks you have the answers he needs. In terms of demand, information products arenít much different from traditional, physical books.
There are plenty of books available for free at the public library (and plenty of books to be browsed through down at Barnes and Noble) but this hasnít stopped Amazon.Com from becoming one of the number one retailers on the web.
Now for the million dollar question: what types of information can you sell?
Go to Clickbank Marketplace and take a look round. As you can see there are hundreds of products in categories from art to travel and dozens of products in specialized niches. Here are some examples:
Wedding Planning On A Budget - Secret tactics for planning a luxury wedding on a miniscule budget.
Horse Riding Lessons - Horseback riding instructions training yourself to ride a horse
Get Organized Now! - Ideas, tips, tools and more to help you organize your home, your office and your life!
Liberty Generator - A full video guide on how to make bio gas.
AppsZero - Designed to help ordinary people create apps with zero coding experience and zero technical skills
These are super niche product ideas because they focus on very targeted subjects. As products, they wouldnít pose too much of a challenge to create.
Even if you arenít an expert on a topic, you can easily find someone who is. All you need to do is collect the content - either through an interview or through hiring an expert researcher or ghost writer. Once youíve got the meat of the product in place, you simply package it appropriately and you have a product ready to market.
In the next tutorial we're going to take a look at the essential first step in niche product creation.