So you’ve chosen your market in one of the big niches (health, wealth or relationships), and you’ve drilled down to identify a product in a specialised area within one of the big niches. If not, go back and and do this, because it’s important!
Now, we need to ensure, we need to double check that your chosen product is actually a valid product to sell. If your product hasn’t got demand, then you’re going to have a hard time marketing your product to create demand.
Let’s have a look at an example. You’ve decided to enter the Health and Fitness niche. Great niche. Plenty of demand there. You’ve drilled down and decided muscle tone is a good area because it is something both men and women can relate to.
So far so good. On your next drill down, you’ve decided to concentrate on the women’s muscle tone market. Excellent so far – you’re narrowing your niche.
And then you think to yourself, “I need something different”, so you choose a product that helps to tone the ‘upper back’. This is where you crash!
But you’ve convinced yourself that this is the market for you. You’ve set up a website to promote it. You’ve spent a fair amount of money designing posters and flyers.
But hang on just one second. This might be the market for you. But what about your prospects? Are there lots of products out there in this niche? Why not? Hopefully, the answer is obvious.
But my message here is to be beware of the obvious.
Rather than persuade yourself, why not ask your prospects instead? Ensure there is a market out there that wants to buy your product.
And before you spend money on developing the product. Before you spend money on marketing it. Test your market by making sure your product idea fulfills one of your customers’ needs. And more than that, make sure that need is a big one that’s causing your customer real ‘pain’, ensure it’s a big problem that requires an urgent solution.
