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Help With Monetization Strategy & Niche

by HJMarketer
14 replies
Hi Everyone,

I'm a brand new warrior and even newer to the world of Internet Marketing! Hoping to get some feedback from you fine folks on a domain/niche & how I can potentially monetize it. I'm a newbie, but feel free to rip my idea to shreds as I'd love honest opinions over anything. I just want to be successful.

My background - many years as a corporate sales executive, real estate sales, and business franchise owner. I'm looking to get out of the corporate world once and for all and have always had a keen interest in writing (both blog style and sales copy). I have a goal of making $100,000+ annually by year 2 (with the opportunity to grow) and am willing to do the work to get there.

I'm very early in the learning & planning process. I'm looking at targeting the 28 - 45 male demographic who don't have avenues to express issues they face in their relationships, health, and career. I wanted to create a site for men to share their stories, turning points in life, and create community discussing issues we don't generally talk about openly. Think Good Men Project style - a man blog without all of the flash of half naked women and fast cars essentially. The ultimate goal is this helps men who may be suffering from varying levels of mental illness due to "life", but don't want to talk about it in the "real world". This could possibly be a site where women can frequent to learn more about the men in their lives who don't express themselves freely as well.

I picked up the domain MEN EXPRESSED | as it seems to encompass what I am going for - would love your opinion on it. After spending a couple of hours reading these forums, I'm wondering if I have selected a niche that can be well-monetized, and through which avenues? I've learnt that this project is considered an "authority blog" and that these can take some time to develop, but do you see a path to making my 6 figure targeted annual income? If you have any ideas on how a site like this could be monetized most effectively (i.e. specific products etc.), I'd greatly appreciate them.

At this point, I am deciding whether to move forward with my original plan above, or shift towards something that is more specific that lines up with my experience in sales, business management, and writing, that may be easier to create/access products for. One of the main reasons I am looking at internet marketing is I have recently caught the travel bug, and would like to afford myself a career that doesn't require me to be in one specific city most of the time! Ultimately, I also need this career shift to be financially rewarding enough to allow me to move on from the corporate world that feels like it is sucking the life out of me.

Thanks in advance for your help,

HJMarketer
#advice #monetization #niche #strategy
  • Profile picture of the author Iris Degnes
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    • Profile picture of the author HJMarketer
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      • Profile picture of the author Iris Degnes
        I have been arround for a while, 2 years I think, and the question you can ask yourself is... when you where in the middle of that life experience "some years ago" (you are ahead of your target audience), so does your audience search for that content? Have you? Would you have paid for a product? How much?
        You know, I realized that sometimes people do not want what they need, when they need it. They want what they want, and that's what you have to make sure you provide.

        And maybe instead of focusing in that phase on a product that you want, gather email adresses from your friends, start your email list and get feedback about what others have to say. Definitely something to hae in mind. You can also join relevant facebook groups etc. Get in touch with the people you want to reach.
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        • Profile picture of the author HJMarketer
          Originally Posted by Iris Degnes View Post

          I have been arround for a while, 2 years I think, and the question you can ask yourself is... when you where in the middle of that life experience "some years ago" (you are ahead of your target audience), so does your audience search for that content? Have you? Would you have paid for a product? How much?
          You know, I realized that sometimes people do not want what they need, when they need it. They want what they want, and that's what you have to make sure you provide.

          And maybe instead of focusing in that phase on a product that you want, gather email adresses from your friends, start your email list and get feedback about what others have to say. Definitely something to hae in mind. You can also join relevant facebook groups etc. Get in touch with the people you want to reach.
          Really great points - especially people not necessarily wanting what they need, but wanting what they want. I definitely need to take a closer look at my target market and what they are currently spending money on. Thanks for your help!
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      • Profile picture of the author Steve B
        Originally Posted by HJMarketer View Post

        The challenge so far is determining what types of products I can sell

        HJ,

        Start with your targeted market ... your audience ... the folks that you want to attract and to sell to. Don't start with trying to come up with a product!

        Why? Because you should be relying on your audience to tell you what they want. Don't assume you know their preferences (that's marketing by guessing). Even though you may consider yourself part of the market, it's a dangerous assumption to make. You want to know that what you are going to sell is already being asked for by your prospects.

        It doesn't take long to do some market research (maybe a day or so). Define your "perfect customer" then see where he/she can be found online (forums, authority sites, blogs, social media groups, etc.) Join in on the conversations and notice what these prospects are talking about, asking for, need help with, etc.

        Go to Amazon, the "Dummies" series of books, Magazine.com, and the search engines to see the popular products, searches, etc in the niche. It won't take long to see what problems people are trying to solve, what desires are unmet, and what they spend time doing.

        You should know, in advance of picking a product to create or sell (as an affiliate) exactly what the market audience is clamoring for. By focusing on the audience first, you will know soon what they will buy.

        Remember this: WIIFM

        What's in it for me? That's what your audience wants to know about every product they consider purchasing. Know that in advance.

        Good luck,

        Steve
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        • Profile picture of the author HJMarketer
          Originally Posted by Steve B View Post

          HJ,

          Start with your targeted market ... your audience ... the folks that you want to attract and to sell to. Don't start with trying to come up with a product!

          Why? Because you should be relying on your audience to tell you what they want. Don't assume you know their preferences (that's marketing by guessing). Even though you may consider yourself part of the market, it's a dangerous assumption to make. You want to know that what you are going to sell is already being asked for by your prospects.

          It doesn't take long to do some market research (maybe a day or so). Define your "perfect customer" then see where he/she can be found online (forums, authority sites, blogs, social media groups, etc.) Join in on the conversations and notice what these prospects are talking about, asking for, need help with, etc.

          Go to Amazon, the "Dummies" series of books, Magazine.com, and the search engines to see the popular products, searches, etc in the niche. It won't take long to see what problems people are trying to solve, what desires are unmet, and what they spend time doing.

          You should know, in advance of picking a product to create or sell (as an affiliate) exactly what the market audience is clamoring for. By focusing on the audience first, you will know soon what they will buy.

          Remember this: WIIFM

          What's in it for me? That's what your audience wants to know about every product they consider purchasing. Know that in advance.

          Good luck,

          Steve
          Thanks for the great insight, Steve! I need to look harder at current spending habits of my target market for sure. I'm not certain there are enough men (or women for that matter) investing in products that will help them out of mental ruts that they may not even realize they are in! Definitely some ambiguity with this authority site model. Appreciate the guidance!
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  • Profile picture of the author johndetlefs
    Hey HJ, and welcome to the forum!

    Sounds like in many ways our stories align, I jumped corporate ship around 4 years ago, and it's taken me that long to set up a business that makes the sort of money you're talking about. Last year (2016) is the first year where I made more money than I was making with my previous corporate position, and I did it by creating an Adwords agency specialising in corporate.

    So, to answer your question.. IMHO I think getting to $100K annual income in two short years is going to take a metric f*** tonne of work, and that's assuming you've picked a market that's cashed up.

    The good news is the 25 - 45 year old male market is pretty cashed up, and with kids happening later in life, the 25 - 35 year old market especially so. If I was advising a client looking to go into this market with a content strategy, I'd be going for email signups and the cross-selling (affiliate marketing) other products that also align with the demographic.

    A couple of cons though..

    Unless you're a qualified psychologist or councillor it'll be tricky-ish to get a lot of traction helping these guys to achieve any sort of emotional breakthroughs. And more importantly, with mental illness, you really don't want to put yourself in a position where you might be responsible for less than awesome consequences.. I hope I'm not being too subtle here?

    Also.. just be aware of how much you're going to have to take on.. when your blog gets a lot of traction you're going to hear about a lot of heavy stuff, and for some people that's hard to shake off. Personally I wouldn't go near it, because I wouldn't be able to shake it off very easily. Depends on how resilient you are with this sort of stuff. It's the "sleep at night" factor.. are the stories you hear going to keep you up nights?

    And finally.. people with mental illnesses don't tend to be all that cashed up, which is why many of these people are served by the government or via charities.. If making a $100K profit per year is a genuine goal you'll have to be very focussed to make sure you're attracting the right kind of people to the blog.

    So, going back to the "if I was advising a client" thing.. I'd be getting you to have a really good look at the business model and make sure you're really passionate about the project. There's a lot of furphies in there to look out for.

    Doesn't mean don't do it, just take the time to make sure you're genuinely passionate about the project and will continue to be long term.

    Long post, but I hope it helps!
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    You only get one shot at life - make it awesome.

    Everyone else also gets just one crack at it - help make theirs awesome too... or, politely step out of their way.

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    • Profile picture of the author HJMarketer
      Originally Posted by johndetlefs View Post

      Hey HJ, and welcome to the forum!

      Sounds like in many ways our stories align, I jumped corporate ship around 4 years ago, and it's taken me that long to set up a business that makes the sort of money you're talking about. Last year (2016) is the first year where I made more money than I was making with my previous corporate position, and I did it by creating an Adwords agency specialising in corporate.

      So, to answer your question.. IMHO I think getting to $100K annual income in two short years is going to take a metric f*** tonne of work, and that's assuming you've picked a market that's cashed up.

      The good news is the 25 - 45 year old male market is pretty cashed up, and with kids happening later in life, the 25 - 35 year old market especially so. If I was advising a client looking to go into this market with a content strategy, I'd be going for email signups and the cross-selling (affiliate marketing) other products that also align with the demographic.

      A couple of cons though..

      Unless you're a qualified psychologist or councillor it'll be tricky-ish to get a lot of traction helping these guys to achieve any sort of emotional breakthroughs. And more importantly, with mental illness, you really don't want to put yourself in a position where you might be responsible for less than awesome consequences.. I hope I'm not being too subtle here?

      Also.. just be aware of how much you're going to have to take on.. when your blog gets a lot of traction you're going to hear about a lot of heavy stuff, and for some people that's hard to shake off. Personally I wouldn't go near it, because I wouldn't be able to shake it off very easily. Depends on how resilient you are with this sort of stuff. It's the "sleep at night" factor.. are the stories you hear going to keep you up nights?

      And finally.. people with mental illnesses don't tend to be all that cashed up, which is why many of these people are served by the government or via charities.. If making a $100K profit per year is a genuine goal you'll have to be very focussed to make sure you're attracting the right kind of people to the blog.

      So, going back to the "if I was advising a client" thing.. I'd be getting you to have a really good look at the business model and make sure you're really passionate about the project. There's a lot of furphies in there to look out for.

      Doesn't mean don't do it, just take the time to make sure you're genuinely passionate about the project and will continue to be long term.

      Long post, but I hope it helps!
      Wow, thank you for the very detailed response and insight! I completely get what you're saying regarding less than awesome consequences. I think I maybe have a conflict with what I believe the 25-45 year old male market needs vs. what they are readily spending money on. My goal is to have others share their own stories to help achieve the breakthroughs, not necessarily through any of my own guidance. Perhaps, if I move forward with this, I can give my target market what they need through content, and what they want through affiliate products and/or my own products. Thanks again for the great insight!
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  • Profile picture of the author johndetlefs
    It's a pleasure mate, and I hope you do continue through with it. Finally having a business of my own that is totally run online is one of the most satisfying things I've ever done. I still work 50 hours per week, but it's different when it's your own.

    Best of luck!
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    Everyone else also gets just one crack at it - help make theirs awesome too... or, politely step out of their way.

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    • Profile picture of the author HJMarketer
      Originally Posted by johndetlefs View Post

      It's a pleasure mate, and I hope you do continue through with it. Finally having a business of my own that is totally run online is one of the most satisfying things I've ever done. I still work 50 hours per week, but it's different when it's your own.

      Best of luck!
      Completely agree! I was a quick service restaurant franchise owner for about 6 years until this past year. While in many ways it was not the business model for me long term, I do miss the feeling of being my own boss. I'm naturally entrepreneurial, however, need help with focus at times! I've always been passionate about writing so blogging and/or sales copy seems like the logical next step! Thanks again John!
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  • Profile picture of the author spartan14
    Well you must choose a niche where you are good at it .Then start producing quality content and build your audience give your people value .I advise you that IM its not easy and if you want to achieve that income you have 2 paths : Hard work or paid traffic or both combines but don expect to work 3 hours per day and then to make 1000 000 $ per year .I dont want to descourage you but i think its necesary hard work to succed online
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  • Profile picture of the author menjac21
    you know where your going search for people who are 10 years ahead of your goal that already got the result you want and do what they did
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  • Profile picture of the author JohnMcCabe
    I may be wrong (it has happened once or twice before ), but your plan sounds like the prototypical "passion project."

    One of the main ways to monetize something like this is through selling group counseling or therapy or coaching. The trick is that it does not sound like you have the credentials for such a plan.

    [Before the "we don't need no stinking credentials" crowd chimes in, you may not need a credential to help people, but in the mental health field, you may need a credential to get official approval to even be in business.]

    If your $100K/2 years plan is topmost in your priorities, I'd lean toward finding a way to leverage your business experience/knowledge over your passion project.
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    • Profile picture of the author Paul Guilfoyle
      Originally Posted by JohnMcCabe View Post


      If your $100K/2 years plan is topmost in your priorities, I'd lean toward finding a way to leverage your business experience/knowledge over your passion project.
      I agree with John on this.Its often difficult not to

      Also IMHO this is an ultra tough niche in which to start with no experience, your IM career.
      Consider first taking the steps to learn what's required to create a successful online business in an already proven niche.

      In very simple terms first learn how to find a high converting offer within a profitable niche and then learn how to drive traffic to that high converting offer.

      Hope this helps.
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      • Profile picture of the author HJMarketer
        Originally Posted by Paul Guilfoyle View Post

        I agree with John on this.Its often difficult not to

        Also IMHO this is an ultra tough niche in which to start with no experience, your IM career.
        Consider first taking the steps to learn what's required to create a successful online business in an already proven niche.

        In very simple terms first learn how to find a high converting offer within a profitable niche and then learn how to drive traffic to that high converting offer.

        Hope this helps.
        Very helpful, thank you Paul. I like the suggestion to focus on the basics to start, and ensure I fully understand how to build traffic that converts.
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    • Profile picture of the author HJMarketer
      Originally Posted by JohnMcCabe View Post

      I may be wrong (it has happened once or twice before ), but your plan sounds like the prototypical "passion project."

      One of the main ways to monetize something like this is through selling group counseling or therapy or coaching. The trick is that it does not sound like you have the credentials for such a plan.

      [Before the "we don't need no stinking credentials" crowd chimes in, you may not need a credential to help people, but in the mental health field, you may need a credential to get official approval to even be in business.]

      If your $100K/2 years plan is topmost in your priorities, I'd lean toward finding a way to leverage your business experience/knowledge over your passion project.
      Thank you for the candid advice John. I am going to steer away from the mental health angle at the least based on feedback, and perhaps focus on a more specific problem affecting my target market that I can truly help with.
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