Products vs. Market
- A great product idea does not mean that you have a great Niche market.
- A Market is a group of people who buy certain products and services….They are not a keyword count. That is just an indicator of a market.
- Those People are motivated to buy by certain intrinsic values, problems, passions, etc. If you have a handle on those motivations and truly understand them, you’ll have a super abundance of products to sell them.
People are creatures of habit
- People do what they’ve done before and rarely do what they have not done before.
- If they’re already buying, they’ll continue to buy.
- Find out what they’re buying…Don’t blaze new trails.
- That’s where keyword/product research come in.
A Market is a group of motivated people who buy certain products and services.
You must know specific things about these people who are going to buy from you…
FACT: You can’t sell in a niche until you understand what makes them buy in the first place!
- Who are they?
- Can you describe them in detail?
- What do they look like? Age, sex, how they dress
- What are their interests?
- What is their income level?
- Where do they live? Type of House, Apt., in rural area or urban
- What are their desires?
- What problems are they facing?…or successes they might be celebrating?
- What are they passionate about?
Once you have a detailed description of the people, what do they want to buy…or are they already buying…you’re on your way to determining your market?
Passion vs. Problem
The two main reasons people buy, especially on the Internet are:
- A Passion is something they really, really want.
- A Problem is a “have-to”…a need …a must-have.
Both are intense emotions…driving forces that build enough internal pressure that causes the person to take action…to first search for a solution and then to click the “Buy Now” button and pull out their credit card.
In order to be able to relate successfully with your niche market, they must feel that you are one of them.
Other things to understand about your niche market…
- Why do they buy what they already buy?
- What wakes them up in the middle of the night in a cold sweat? …a problem
- What would they spend money on instead of food because they feel so strongly about it?…a passion
- What would they buy before paying their bills?…could be either a problem or passion
- What would they list at the top of their list of necessities of life?
- What do they get so excited about that they give up food or sleep or both to do it?…definitely a passion
- What would make someone get up at 5am on a Saturday and out in the freezing cold because they want to see it, do it attend it? (One of Jim Edwards’ famous questions)
The most effective…and successful…marketers know their niche inside and out. They can relate as one of the niche.
So…How do you discover YOUR niche market?
First, what is a “perfect” niche market?…if there is such a thing 
Here are a few things to question:
- They must be actively searching for info online.
- Is there an intense problem or desire that cannot be satisfied with one purchase?
- Are there multiple related problems?…something that causes them to be a part of a niche group. A business or hobby is ideal as the need for info is compounded as the interest grows.
- Does your market know they have a problem or desire and are actively looking for a solution?…they don’t need to be convinced.
- Is there a year-round need?…not dictated by season or something else out of your control that would cause them to be interested part of the time.
- Do they actually buy online and at different levels/price points?
Now, where do you start to look for YOUR perfect niche market?
- Start with your problems and passions. Things that you already know about…that you can talk about all day and never get tired of talking about.
- What are your hobbies?
- What were you good at in school?
- What have you learned through the “School of Hard Knocks”?
- What do others comment you on?
- What do others ask your opinion on or ask you to teach them?
- Think of the organizations you belong to or have belonged to over your lifetime.
- What are your social causes?
- Do you have some special talent?
- Who do you like working with?
For a starting point…Go to www.Clickbank.com. Click Promote Products tab. On third bullet down…”10000 “products”, click products. Expand list. That should give you some idea joggers.
Tags: Add new tag, niche market, passion vs problem, product vs market, understanding your niche market, what is a niche
