When trying to find a profitable niche, you may receive the standard advice, “do what you love.” While this isn’t wrong, doing what you love isn’t enough. Just because you love something doesn’t mean you’ll be able to make any money from it. Here are five secrets to finding the right niche that will be profitable.
Secret #1 – Brainstorm All Possible Ideas
When it comes to finding a profitable niche, you want to take the time to brainstorm all the possible niche ideas that you can. You can start by asking yourself, “what subject have you read five books about?” If you’ve taken the time to study the subject, you’ve shown an interest in it. The point of brainstorming ideas is not only to find what you enjoy but what you’re good at.
Secret #2 – Find a market That’s Easy to Target
Conduct some research online. Are you able to quickly target the market? For example, if you look at ads on Facebook, are you able to target specific audiences that fit the customers in the niche market? If you aren’t able to cost-effectively reach the target audience, you’re setting yourself up for failure.
Secret #3 – See What People are Already Buying
If you find a market that doesn’t have any competition, it is a huge warning sign. This usually means that there aren’t enough buyers to sustain the market. Instead, you want to investigate the competition and find out what products and services they are already selling.
Secret #4 – Analyze the Core Problem in the Market
During your research, try to determine the number one problem that customers in the market are having or their biggest desire. If you know where to look, this information is easy to find. Finding this information will allow you to understand what people are buying and exactly what motivates them to make a purchase.
Secret #5 – Offer a More Enticing Solution
This could come in the form of a cheaper solution or a more complete solution. There are a lot of ways to provide customers with a more enticing solution. You have to find a hungry group of buyers if you want to be successful.
When you find the right niche market and provide the right offer to customers, you can gain more traffic to your website and convert those visitors into sales. Learning these secrets to finding the right niche will help you become successful in your online business.
You’ve come up with a great new idea for a business, but before you can get started, you need to figure out who your market is. The more narrowly you can define your market, the better. This is known as finding a niche and is the key to your success. Building a good niche involves following a six-step process.
Step 1: Make a Wish List
You need to decide who you want to do business with, being as specific as you can. Identify the geographic range and the kinds of customers you want to target. You have to recognize that you won’t be able to do business with everyone. If you try, you’ll only risk confusing your customers and becoming exhausted.
Step 2: Focus
You need to clarify what products or services you want to sell. You can use these techniques to help you begin the process.
- Make a list of the things that you do best.
- List your achievements.
- Identify the valuable lessons you’ve learned in life.
- Look for patterns that reveal your approach to problems.
The niche you chose should arise naturally from your experiences and interests.
Step 3: Describe Your Customer’s Worldview
When you can look at the world from your prospects views, you can better identify their wants and needs. The best way for you to do this is to talk with your prospective customers and work to identify their primary concerns.
Step 4: Synthesize
By this step, your niche should be starting to take shape as your ideas, combined with what your potential customers’ needs and wants. A good niche will have the following five qualities.
- It coincides with your long-term vision.
- Your customers want it.
- It’s carefully planned.
- It’s one-of-a-kind.
- It can evolve.
Step 5: Evaluate
Now is the time for you to evaluate your proposed product or service against the previous five criteria listed in step four. Perhaps you’ll realize that the niche you’ve chosen requires you to travel more than you’re ready to. If this is the case, then the niche doesn’t fulfill all of the criteria and doesn’t coincide with your long-term vision. At this point, you’ll need to scrap it and move on.
Step 6: Test
When you finally have a niche that meets all the criteria, you’ll want to test it in the market. Give your customers a chance to buy your product or service by offering samples, like a sample of your newsletter, or a free mini-seminar.
Once you’ve successfully tested your ideas, it’s time to get started with your business. If you did your due diligence, entering the market should be a calculated risk that will hopefully pay off.
If you’re like most business owners, you’ve sacrificed a lot for your company by working long hours, juggling payroll and vendors, and missing family events. The business did okay and provided you a nice income…but the business landscape has changed.
The past few years have been tumultuous for the business and financial markets. Improving economy possess its own challenges as efforts to shed excess capacity and deliver have left many business owners unable to meet rising demand. You never planned for this to happen, but your business is struggling… and the pressure is mounting.
You have a choice – let it pass you or take advantage of the digital world and the opportunities it represents for the success of your business…when used correctly.
A turnaround roadmap works well for business owners who realize that trying something different is better than continuing the present course and risking their business and ultimately their lifestyle.
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In this short time frame we will provide you with a detailed customized roadmap of what you need to implement in your business. There is no sales pitch and all you’ll find are “proven and tested” marketing secrets that work.
The Turnaround Process
The Turnaround Roadmap that is customized to your business, will guide you through the process of generating additional revenue in your business.
The Turnaround Roadmap is effective for business owners who have the following characteristics:
A strong work ethic and the will to succeed;
Maturity to know their company needs a completely different approach to what has been implemented to date;
Commitment to implementing the strategies provided in the Turnaround Roadmap.
Book your 45-minute Free Consultation to generate your detailed customized roadmap which includes an assessment of your business outlining the exact steps you need to take to generate the additional revenue we will find in the allocated time.
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When you think of social media, you probably think of written content. You’re probably thinking of things like Twitter posts or Facebook statuses. Maybe at a push, you’re thinking of Instagram images.
But the reality is that video is also a big aspect of social media and it absolutely should be a part of your own strategy.
Why Video is Critical
In case you’re not sold on this idea, consider that video is much more engaging than other forms of social media. That’s at least partly because video assaults all the senses. It contains movement, imagery, music and gesticulations and all this makes it far more captivating, far more persuasive and potentially much more emotionally stimulating. This is everything you need to sell to someone and it makes social media a considerably more powerful tool for selling and persuading – or just getting someone to care about and be interested in your brand.
At the same time, video helps to elevate your status. Video is something that not anyone can create and that often requires specialist equipment, editing tools and more. Video with high production values looks like something that a bigger company with more resources must have made and that in turn makes it very effective at elevating your brand, your authority and your trust.
How to Get Started
The best way to get started with video marketing is with YouTube, which in some ways is similar to a form of social media. At the same time though, you can also be successful by using live video on platforms like Facebook, by uploading very short videos to Instagram etc., or by using videos through other social media channels. Even paid Facebook Ads let you incorporate video!
To get started creating video, then conventional wisdom is that you will need a good quality camera, some basic lighting equipment, a sound recording device etc.
All this is true to an extent, but it isn’t strictly necessary if you’re shy to go on camera or don’t know how to create that kind of content. In fact, a ‘video’ can be much more of a podcast with a static image and you talking over the top. Or it can be a slideshow with no talking at all! There are lots of ways to create video and the only thing you absolutely need is some basic editing software.
Your funnel pages must be effective in order to create the profits you expect from your products. If your funnel pages are not converting your prospects into buyers or your buyers into repeat buyers (i.e. OTO buyers), you will not make nearly as much profit as you could.
Thus, there are tips provided below to help you create higher-converting funnel pages so you can gain more profits from the products and sales funnels you create.
Be sure to use headlines and sub-headlines in your sales letters. Most people don’t read sales letters word-for-word; they don’t have the time or the desire to go through every sales letter they encounter word-for-word.
Thus, use headlines and sub-headlines to help point out the important points, features, and benefits your prospect will gain from ordering your product and OTOs.
Another key is to focus on the benefits your product will deliver to the customer. The customer doesn’t really care how the product will deliver the benefits to him/her; he/she just wants to know what is in it for him/her- how does his/her life get better by purchasing your product?
While you can include features in your sales letter, be sure to highlight and focus on the benefits the person will get from ordering your product. Specifically, you should really focus on the benefits that will eliminate or alleviate the person’s problem or pain- this will make it more likely he/she will order your product.
On upsell and down sell pages, be sure to put text down under the order button when they are ready to pass on an upsell or down sell offer that reminds them of the benefits they will be passing up on by rejecting the upsell or down sell.
Human psychology tells us that people do not like pain and they do not like missing out on things. Thus, by reminding people of what they will be missing out on by passing up your upsell or down sell offer, you will make it harder for them to hit the “no thanks” link, potentially leading some of them to hit the “order now” button instead.
Thus, you have learned that using headlines and sub-headlines in a sales letter will enable people to scan your sales letter and learn the important points without having to read it word-for-word. You also learned that you should focus on the benefits of your product that the person will get by ordering your product.
Finally, you learned that by reminding people of what they will be missing out on when bypassing upsell or down sell offers, it will be more difficult for them to pass on it and may even convince some of them to order the upsell or down sell instead.
Different Types Of Sales Funnel Techniques
There’s more than one way of creating successful and profitable sales funnels. There are several methods, in fact, that can help you to make profit from your product offers. You will learn about some of these different methods below.
The most basic type of sales funnel is that you use a squeeze page to capture the name of the prospect’s name and email address in return for a quality free report on a topic of interest to the prospect.
You then send email messages with more information on the topic of interest and make brief mentions of your main product offer, implying that this product will help them solve or alleviate the problem they are having (and a key reason why they downloaded the free report in the first place).
You include a link to your main product’s sales page in your email messages.
Over time, the prospect will learn to trust you and your recommendations; as a result, they will check out your main product’s sales page.
Provided the sales letter “sells” the main product to the prospect, he/she will become a customer, which can lead to him/her being added to a buyer’s email list, letting you know that this person has bought from you before.
Now, you can add more to your basic sales funnel, specifically upsells and downsells, also known as one-time offers or OTOs. After a person has paid for your main offer, the person will be shown an upsell offer, an offer that enhances the value of the main offer, whether that is an upgraded version of the main offer or a complementary offer to boost the value of the main offer.
The person only has that one chance to purchase it at that special price – hence why it’s called a “one-time offer.”
If the person chooses to decline the offer, he/she may be presented with a downsell offer, an offer that is either exactly the upsell offer he/she just rejected at a lower price or a similar offer to the upsell offer, but with one or more missing components from the upsell offer, at a lower price.
If the person chooses to buy this offer, he/she will gain access to it and may be taken to another upsell offer. If he/she chooses to decline the downsell offer, he/she may still be taken to another upsell offer.
Thus, to earn maximum profit from your product offers, you should use a squeeze page to get the person’s name and email address, follow up with email messages to get him/her to visit the main product’s sales page, and present him/her with upsells and downsells to enhance the value of the main offer for him/her, while increasing your profits.
This is the main sales funnel strategy for most Internet marketers, and if done properly, can be highly effective and highly profitable.