Once you have decided on a market, it’s time to find your place within that market. It’s time to take your knowledge further by working to find your own niche. The easiest way to accomplish this is to begin considering what types of products you could produce and sell. We aren’t actually creating anything yet, instead we just want to talk about possibilities, and possible sub-markets.

 

Determining what types of products sell best

 

You’ve spent some time scoping out the competition. By now you already have an idea of what products are selling well. Furthermore, you have an idea of site content, advertising methods and costs, etc, of most of your main competitors. Now it’s time to look close at the products themselves and then begin to ask yourself questions.

 

Take some time to look over the 5 – 10 of the top selling products in the market you selected. This time, don’t worry about the page content; instead focus on the products themselves. Create a list of what the top ten vendors in your market are selling.

 

Include on your list:

 

·        What is the main product or service?

·        What bonus modules or additional content comes with purchase?

·        How much is the product selling for?

With your list, begin asking yourself questions. What you want to determine is if you can find your own niche with your own unique product in this market.

 

Can you create a unique spin on an existing product?

Is there a specific product on your list that you could create in a different way to make it unique? This can be a simple way to get into a niche that someone else has already shown to be profitable.

As an example: If your decided market was game guides, and the top seller within that market was a WarHammer Online Game Guide, could you make it different? Could you make it unique enough to be appealing to both new customers, and to those who already own one WarHammer guide?

 

Can you create a follow up to an existing product?

What about a follow up to one of the existing products in the marketplace? Is there something you could come up with that provides additional information outside of what the original product included?

Using another gaming example: Maybe there is a great mod chip out for the latest gaming system, and the trouble is that many are having a hard time installing it. Could you provide the service of installing it? How much do you think people would pay for that service?

Can you create a simpler/cheaper version of an expensive product?

What about a cheaper or simpler version of an existing product?

Maybe that automatic Forex system is complicated, and in your research into the product you found many customers who had trouble implementing it.

 

Could you create something similar, and yet simpler?  Possibly you’re a programmer, or know more about outsourcing. Could you develop a similar product and turn a profit selling it for half the price?

 

Is there a sub-product that you could create that would work well?

Is it possible to take a portion of a product and build upon it? For example maybe the market you are considering is affiliate marketing, and the biggest seller in your market is for a huge affiliate marketing course.

 

Could you create a course just on AdWords maybe, or something more specific like a course just for ClickBank affiliates?

 

I could actually tell you of a few examples where this has been highly successful. Take a look at a course like The Clickbank Code, for example.

 

This course targets a smaller market than just affiliate marketers. It was created to teach affiliate marketers how to make money with Clickbank, this niche has been very profitable for the vendor of this product as, at the time of this writing, the CB gravity for that product is over 600.