Information Product Strategies
I just took a call from a client who was trying to get his information products business going a little faster. Like many people, he’s excited. The problem is that like many of his peers, the niche he has selected to try and attack is much too big.
His “targeted” niche had tens of millions of potential buyers.
The uninformed information marketer would say: GREAT! This would be the wrong path to go down. I instead asked him to take the niche that he selected and slice it thinner. I asked if he could target that particular group by industry or by geography.
Rather than targeting all seniors, you could target all the seniors who were still working part time jobs and lived in the state of Kansas.
But doesn’t this make your target market smaller? Absolutely. You want that. In “smalling down” your niche you are now in a position to become king or queen of that niche. It will be easier for you to OWN that particular segment of the “seniors” market.
Is there a magic number that you should shoot for? Sort of.
I always tell people to look for a niche that has somewhere between 20,000 and 200,000 potential buyers. These are VERY rough numbers, but if you need a guideline, now you have one.
After you become the King (or Queen) of your smaller niche it would then make sense to try and go after other SUB-NICHES within the larger niche of seniors. Only after you’ve successfully penetrated a few of the SUB-NICHES would I recommend that you attack the niche as a WHOLE.
Follow this philosophy and you’ll be MUCH more successful.
I’d also recommend that you come to one of the bootcamps to learn more.