Finding A Profitable Niche
Before you can make money you've got to have a product to sell, and before you create a product to sell you want to make darn sure that the product you're going to create will in fact be profitable. Skip this step at your own detriment. So many people think they have wonderful ideas for products that they want to make, but they fail to do the proper market research before taking the plunge and creating the product. Before we begin the research the thing to remember is that these $7 products don't have to be perfect nor extensive in content. Your best bet is to sell products which solve one specific problem. So let's go into my favorite market research resources:
$7 Product Research Goldmine #1:
The Clickbank marketplace is full of information products. Best of all you can tell which types of products are selling well by looking at the gravity. First choose any category:
For the sake of this example I'm going to go with the "Games"category. So once I click on the Games category you'll see the products being sold on Clickbank in that niche. At the time of this writing the top selling Game products have to do with Starcraft 2 and World Of Warcraft. Let's talk about the different statistics that Clickbank gives you for each product:
We're not necessarily concerned with the amount of money that we could make promoting a product from Clickbank. Since we're trying to determine profitable niches to create $7 products from we're mainly concerned with the Gravity. Clickbank calculates the gravity of the product by adding up all of the affiliates who have successfully made a sale of that product within the past two weeks. As we can see in this case the product has been successful sold by 182 affiliates. This indicates popularity and profitability. Now that we know the Starcraft 2 niche is indeed profitable for information based products lets take a look at the sales page of the product. Just click on the product name at the top:
Now for $7 products, we're not looking to create the end all be all product. We're looking to capitalize on people who may want specific information but who aren't willing to pay the high prices that most Clickbank products sell for. You are going to want to be looking for little small tidbits of a successful Clickbank product that you can take and create a small stand-alone product around. In this case I've noticed that the Starcraft 2 game has three distinct races that the player can choose from. Each race plays different from the others. Let's take a look at the Terran race section on the Shokz Guide website:
I think I've found a great idea for a profitable $7 product. Some players may only be interested in playing with the Terrans. They might not want to spend the $37 that Shokz is asking for just to gain access to specific Terran strategies and build orders, but I'm willing if I could sell them that information for $7, I will be making $100 a day very quickly. If I wanted to enter into the Starcraft 2 niche with a $7 product, I would create something like "Become A Master Terran Player" I know that I can make money selling this information simply because 182 people have already sold similar information already within the past two weeks.
$7 Product Research Goldmine #2:
For Dummies is a multi-million dollar information publishing firm. Please believe that if they have a For Dummies book on a certain subject it is not by chance. They are a corporation who's main concern is profits and they aren't going to produce products which aren't targeted to profitable markets. This is a great way to get ideas for $7 products that you know will sell, simply because you are basically piggy backing off of this huge corporation's extensive market research budget. The first thing to do is to choose a niche category from the left hand side:
For this example, I'm going to choose the "Automotive" section. The firs guide here is called "Auto Repair For Dummies." Let's click on that link. Next you want to click on Table Of Contents:
You'll be presented with the contents of the book. This information is pure gold because you have a blueprint spilled out right in front of your face of what makes up a profitable information product in the Automotive niche:
Anyone of these sections could be made into a $7 product easily and quickly. From looking at this list of chapters I've already come up with several profitable ideas for $7 products which people will gladly pay for in the Automotive niche. Here's a good one: "Preventive Maintenance Secrets - How To Keep Your Car Running Strong So You Won't Have To Pay Through The Nose For Costly Repairs" In these cash strapped times, many people simply cannot afford their car to break down on them. Don't you think that if you could get this product in front of them that they'd purchase it for $7? Wouldn't you buy something for $7 that is going to show you how to keep your car in tip top shape so you won't have to spend thousands on costly repairs? Sounds like more than a fair trade. Hopefully you're getting some ideas and starting to realize just how profitable these products can be, and just how easy its going to be for you to sell them in volume.
$7 Product Research Goldmine #3:
Amazon.com has the largest selection of Books, a.k.a information products, on the entire internet and there is a little secret that we can use to see what is the best selling. Go to the search bar and type in an asterisk and click "Go". This will return all the books that Amazon has in its database:
At the time of this writing Amazon has over 30 million books in its marketplace! That's huge, and the best thing about Amazon is that you can drill down into specific niches like so:
I'm currently in the "Success" section of the "Self-Help" section of the books category. People always want to be successful so I think this will be a great niche for some $7 products. The next thing to do is to click on the "Sort By" drop down bar and select "Best Selling." This will let us see the most popular subjects in any given niche that we can find on Amazon:
At the time of this writing the top best selling books in the success category is the "7 Habits Of Highly Effective People" by Steven Covey.
This is a great book which I'd recommend you read, but for the purposes of making money we have some golden insight into this marketplace. We could easily piggy back on the popularity of this book and create a $7 product called "How To Become A Highly Effective Person Using The Power Habits" This product could summarize the 7 habits of highly effective people and give further insight on how to apply each one to the persons life. If Steven's product is best selling on the Amazon marketplace, I don't think we'd have a hard time making money with a similar product, especially when we add in the specific marketing and promotion strategies that you're going to be learning.
START BRAINSTORMING IDEAS NOW Using these three resources you should have no problems coming up with unlimited ideas for $7 products that you can take to market and make a killing with. Best of all these methods ensure that your product will be positioned in a profitable niche which is the most important part of selling information products. So start going through these sites and writing down ideas that you get for $7 products. Remember that you want to take small chunks from these big guides and books that you can further expand on in order to make a laser focused niche $7 product. Each Clickbank product, Dummies Guide, or Amazon.com best-seller can be turned into a whole string of $7 products. You want each product to be laser focused on specific aspect or problem that your niche has. Don't try to create huge products, remember you're only selling them for $7. Choose one specific topic in the niche and laser focus in on it. As a rule of thumb, you should start out in niches that you are actually interested in and are passionate about. This will make your work a whole lot easier and you'll find yourself actually enjoying creating these products while learning more about your hobbies and passions at the same time. There simply isn't a better way to make money, learn more, and help people than a $7 products business. After you've decided on which product you want to create first its time to get down to actually...
STEP 1 ACTION GUIDE
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