Information Marketing Niche Selection
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Every time I see an ad on Facebook for an information marketing webinar I chuckle. I know all or most of the players that run these ads. Most of the people who get into the business of selling info products try to sell products on “how to make money online.”
Most of them have had little or no experience!
Yet, they want to sell product revolving around a topic that THEY THEMSELVES have no legitimate background in. For many people, their first foray into selling info products is trying to sell others a system on how to make money doing the same.
Why do people do this? There are TONS more people who are interested in product on: HOW TO MAKE MONEY ON THE INTERNET. Thus, everyone wants to get into that niche. It’s like when it rains in New York City. Every street vendor is suddenly selling umbrellas. Same idea.
People want to sell what a LOT of people want to BUY. Not necessarily a bad concept . . . EXCEPT . . . everyone else is doing the same thing.
This is NOT what I’m doing and NOT what I recommend my customers, clients and email subscribers do.
The above strategy is predicated on the idea that you should enter a market where you KNOW people are anxious to buy something. The PROBLEM is that there is TON of competition. Many people get lured to the HOW TO MAKE MONEY market by the prospect of making BIG BUCKS and making them QUICKLY.
You can’t blame them for having these thoughts. The vast majority of testimonials you see on various info product sites tout some product buyer who has made a million dollars in 17 days selling exactly that: HOW TO MAKE MONEY ON THE INTERNET “STUFF”.
I prefer to compete in multiple smaller niche markets.
I look for markets where there are people who buy products but where few competitors exist. I then find a Joint Venture partner who is a knowledgeable expert in the field. Using his/her background and knowledge of the field and my background and knowledge creating and selling information, we PARTNER to produce and sell products in THAT niche market.
I don’t make promises of either of us making a bundle overnight. Instead, I LOW BALL prospective JV Partners. I tell them to expect to put in between 3-4 years before they start to see some “significant” revenue.
In my mind, I’m always hoping that my time frame is exaggerated. BUT, just in case they aren’t, the partners aren’t disappointed.
The niches are numerous and varied.
If YOU are just getting started, here’s a warning. IF you try and get into selling information products by selling HOW TO GET RICH ON THE INTERNET products, you’re in for trouble. A VERY small percentage of people every make any money doing just that.
The people who DO make money are those who sell you the package on how to do just that. Can you get rich quick on the internet? I suppose SOME do. Most don’t. The people who DO make big money fast are usually involved in selling products that are a bit LESS than 100% legit.
I don’t know about you, but that doesn’t appeal to me. I’d rather build a sustainable business selling products to a niche where there are few competitors and even FEWER competitors who have created GREAT “how to” products in that niche.
Some of the recent partners include people selling: voice over training, publicity programs, speaking how to materials, filmmaking tips, how to get a book published and few others. As you can see, NONE of these is about how to make money selling info products. I do sell a few of those myself on this site, but it’s not my MAIN source or revenue. I actually DO what I TEACH.
To me, this is essential. Trying to teach someone how to do something you don’t do or have never known how to do seems disingenuous, to say the least.
What do YOU think??