Day 2 – How to Choose a Market for Your Information Products
So, we need to talk about choosing a “market” that you want to build your business around.
A “market” is simply a broad, general topic such as “weight loss”, “home business” and “relationships” to name a few.
You might look at it in terms of a “target audience”: The people who are interested in a “market” such as “those wanting to lose weight”, “those wanting to start and grow a home business” and “those wanting to have healthy relationships”.
The important thing is to choose something “broad”. The reason for this is simple:
You want to create multiple, related products to offer your target audience.
What you want to do is determine what “market” is best for you as you begin creating these information products.
3 Simple Rules for Choosing a Market
Now, for me, I have three simple criteria that I look at in deciding what I want to focus upon.
I would suggest that you do the same in evaluating what market you want to build your business upon.
1. A market accustomed to spending money.
If the market isn’t accustomed to spending money – and, generally, a “lot” of money, then there’s no point in directing any effort towards it.
Example: “Senior secondary students” isn’t a great target audience simply because most of them are broke! On the other hand, “golfers” spend a gazillion of Naira each year on their hobby… they certainly would qualify.
2. A market that can be presented with a wide variety of offers.
If the market is limited in what you can sell to it, then again there is a red flag. You want to be able to present multiple offers related to the general theme of the target audience you have selected.
3. A market that you are personally attracted to. (Optional)
While this isn’t absolutely necessary, it’s certainly a plus. If you can find a target audience / market that meets points 1 and 2 – AND you have a strong interest in it yourself, then you’ve made your choice.
A personal interest, experience or knowledge of a particular target audience gives you an advantage in many areas of building your business.
It’s not necessary, but it does help.
Now, having said that, you need to pick a market.
I’m including a list of 36 major markets that I encourage you to choose from in making your selection.
- Aging / Senior Interests
- Baby And Child
- Beauty (Skincare / Haircare)
- Business (General)
- Business (Internet)
- Business (Opportunities)
- Business (Small / Home)
- Cancer Survival / Support
- Coaching And Consulting
- Computers And Technology
- Disease And Illness
- Finance And Investment
- Health And Fitness
- Investing And Finance
- Non-Profit And Fundraising
- Public Speaking
- Real Estate
- Career And Jobs
- Sales And Marketing
- Self-Improvement / Help
- Travel And Leisure
- Wedding And Marriage
- Wellness And Remedies
- Women’s Issues
Today’s task: Determine to which market you’re going to sell your information products.
Next time you’ll start learning about the actual process of creating amazing topics and titles!
Before class starts, I will be giving you a BluePrint: 30 Profitable Niches You Can Target. To get this, you will need to join the class (if you have not).
Apply to join the class by clicking here: https://paystack.com/pay/popesept2020
You will Sell a Million.
Let me know if you found value, and if you have any question.