Research and Finding Products for Niche Markets
In Part 1, we discussed what niche marketing was, why it was important to your online niche business, and how to identify your customer avatar.
In Part 2 of this series, we looked at what niche marketing was not. In particular, we discovered that a key point in niche marketing was understanding that everyone was not your customer.
Niche marketing is about drilling down into topics and really understanding the needs and wants of our customers, And then try to meet those needs and wants with our product or service.
Research and Promote Great Products and Services
In this blog post, I am going to spend a little bit of time about how to find and select products and services to market to your niche so that you will see better results from your promotional efforts.
When trying to decide on what product or service you will promote in a niche market your decision should be based on one simple principle, is there a demand for the product or service?
Sell What People Are Buying
You really do not want to waste your time and effort and marketing dollars creating a niche marketing campaign for a product that nobody wants.
You have to focus on finding products that people are already looking for and buying.
Your focus should be on finding products to sell that your customer needs or wants. These needs and wants are products that:
- will make their lives better,
- make them feel better,
- help them look better, or
- help them solve a problem.
These are the types of products that people will actually spend their money on. Think of diets, self help, how to raise children, exercise programs, or debt relief and financial programs.
Using Clickbank for Market Research
If you are interested in selling digital products, a great way to find out what niches are buying and what is selling, is to go to Clickbank.
Unfortunately, there are thousands and thousands of digital products on Clickbank, and most of them are junk. If you want to find out what people are buying then you have to filter out the junk. Clickbank gives you a simple tool to do this using Advanced Search.
Here is a step by step way to do market research on your niche using Clickbank.
First go to Clickbank and click on Advanced Search
Then click the box under “Gravity” and enter the number 7 for Gravity.
Step 3 is to click the Search button:
Step 4 is to take a look at the remaining digital products.
These are products that are selling, which means people are buying. You can go through this filtered list and find some great ideas on what people in your niche are buying.
Once you have chosen a product or service that meets your basic requirements, then the research of narrowing down the right market group for that product or service is the next most important step of the niche marketing process.
Refining Your Customer Avatar Wants and Needs
Here are some of the things that you probably need to think about when looking at your niche market group and finding products to sell:
- Where they spend their time online? Forums or Facebook?
- What do they do in their spare time? Hobbies can tell you a lot about a person’s spending habits.
- What makes them tick from a personal and business point of view? Are they a baby boomer in their late 50’s early 60’s who are looking soon at retirement? Or is this a Generation X’er who is very comfortable with technology?
- What are their spending habits?
- What do they buy? Big ticket? small ticket?
- Where do they buy? Online? Brick and mortar stores?
- What is their general demographic?
There are many other wants and needs to consider in your niche, but these basic questions are a good place to start.
Spy on the Competition
My last suggestion on trying to figure out what people in your niche are buying, is to spy on your competition. By that I mean look at what your competition in the niche marketplace is selling.
Do a keyword search, and find those “buying keywords”. Buying keywords are keywords that have the following words in them:
- free shipping
- get rid of
- how can
- how do
- and many more…
Using the free Google Keyword Planner Tool, or another keyword tool such as Micro Niche Finder (my current favorite), find those buying keywords, then enter the buying keywords into Google search.
Take a look at the search results, both the results listed under the search box, and the advertisements to the right of the page.
Click on a few of the links.
What do you see? What is for sale? What is being advertised?
This is a good strategy to follow to determine if there are people out there who are willing to spend money to buy what you are selling.
When diving down into a niche and thinking about marketing and selling to that niche, you want to take some time to do market research, and find great products to sell to that niche.
You first want to remember to sell what people are already buying. If you are considering selling digital products, Clickbank is a great research tool to find what digital products are actually selling well.
Remember your customer avatar. Continue to build that customer avatar profile, and think about what that customer does in his/her free time, what they spend money on, hobbies, age, demographics, and more. People buy stuff. You have to figure out what stuff your customer avatar buys.
And lastly, use keyword tools to generate buying keywords, and find the products from your competitors that are currently being sold online. Spy on your competition. It will tell you a lot about your customer and what they are buying.
My recommend resources mentioned in this blog post including the following:
Micro Niche Finder – This is software that you install on your computer, that really allows you to dig down into niches and sub-niches, and even micro niches. And helps you not only find keywords or buying words used in the niche, but exposes the money in the niche, and if people are spending money buying stuff or not. Great tool. The more I use it the more I like it.