THE ULTIMATE NICHE FORMULA....

VegasVince · 11-20-2008, 02:08 AM

After posting my thoughts re: the World's Richest Niche on my blog....I decided it was worth sharing with my fellow Warriors...considering how much of this board seems devoted to the subject.

To me, the ultimate niche, much like the ultimate USP....is very easy to sum up. Here's my formula...one that's worked well for me.

The World's Richest Niche combines the following 3 elements..not one...not two...but all three!

1. A specific niche product.

2. A specific niche market.

3. Both the product and the market are specifically targeted to the AFFLUENT POPULATION who will buy what they want, when they want it--- with little consideration to the high price you're charging.

That's a niche you can get rich with! Capiche!"

At the very least...you'll make more money going the route above...then a $7 ebook consisting of Steve Waggs--- never before published poetry etc. UGGGGGG!

So in other words....don't just sell the next great OVER PRICED golf club gimmick.

Make sure you sell it to a list of higly paid defense Lawyers who desperately want to increase their driving distance by 30 yards in between court cases!

Oh yeah...Mr. Lawyer will pay you a lot of money for that club! Why? Because he can. Why argue.

I am often amazed at how many marketers look at the NICHE... soley as a product...or simply as a market. It's obviously both.

More importantly, why not combine affluent niches and go where the money is?

Never understood why that concept is so intimidating or hard?

Affluent niches are often easier... and surely more profitable then a book on--- Humming Birds in Heat...And Why They Destroy The Ozone Layer. Ya think?

xxx Vegas Vince

Legend.

mudmat · 11-20-2008, 02:25 AM

So it means that sell it to someone who have the money to burn and won't care if you overpriced it. They only care about increasing their driving distance.

If the product can help them improve their golf swing, they will buy it any price because they got too muc money right?

affiliateppc · 11-20-2008, 02:47 AM

Vince, as always, wise words you share.

Another legend, Gary Halbert, called them "PWM's" (Players With Money).

Quoted from one of his newsletters:

Quote:

What I want to impress upon you is... if possible... you should endeavor to confine your selling efforts to...

Players With Money!

Why? First of all, it is easier to sell something to someone with money. It's an obvious fact that person has the money to buy what you're selling. If you've got a $500,000 house for sale, it doesn't matter how appealing the house is if the family you're pitching it to has a pitifully low total income.
But there's another fact you mustn't overlook. People with money usually means they also have an important character trait most of the "sheep" out there don't possess. Namely...

They Have The Ability
To Make A Decision!

Read the full newsletter here
The Gary Halbert Letter

George Wright · 11-20-2008, 03:14 AM

Great Post Vince,

It reminds of something that was said to me by a young person a few years back when I asked him what he was going to do when he moved from NY to Sunny Cal.

He said, "I'm going to hang around rich people, they will pay you to do the funniest things like clean swimming pools and wash their cars."

George Wright

Solidsnake · 11-20-2008, 05:58 AM

Absolutely correct... a product cannot be good if it doesn't have a good market..

Kate Carpenter · 11-20-2008, 08:10 AM

VegasVince doesn't often start a thread, but when he does, I always read it because they are Gold!
Thanks, once again, VegasVince!
Kate

VegasVince · 11-20-2008, 01:55 PM

Quote:

Originally Posted by affiliateppc

Vince, as always, wise words you share.

Another legend, Gary Halbert, called them "PWM's" (Players With Money).

Quoted from one of his newsletters:

Read the full newsletter here
The Gary Halbert Letter

Thanks for reminding me just how much I miss the legendary Gary Halbert.

Gary was probably the greatest marketer who ever lived in terms of creating irresistable offers.

More importantly, he was proud of who he was....and what he did for a living.

Gary had no problem selling you the entire kitchen sink and everything in it....for the most money possible.

That's as it should be.

xxx Vegas Vince

Steven Wagenheim · 11-20-2008, 01:58 PM

If I ever wrote a book of poetry, it would be targeted to rich old men who
can't get a date and I'd spin it on how to pick up 25 year old hot chicks with
these words of rhyme and I'd charge a fortune for that book.

So who says a book on poetry can't make money?

All kidding aside, great post my friend.

11-20-2008, 02:08 AM	#1
VegasVince I Am Legend War Room Member Join Date: Oct 2006 Location: Las Vegas, Nevada...and Florida. Posts: 1,278 Blog Entries: 2 Thanks: 289 Thanked 470 Times in 184 Posts Social Networking	THE ULTIMATE NICHE FORMULA.... After posting my thoughts re: the World's Richest Niche on my blog....I decided it was worth sharing with my fellow Warriors...considering how much of this board seems devoted to the subject. To me, the ultimate niche, much like the ultimate USP....is very easy to sum up. Here's my formula...one that's worked well for me. The World's Richest Niche combines the following 3 elements..not one...not two...but all three! 1. A specific niche product. 2. A specific niche market. 3. Both the product and the market are specifically targeted to the AFFLUENT POPULATION who will buy what they want, when they want it--- with little consideration to the high price you're charging. That's a niche you can get rich with! Capiche!" At the very least...you'll make more money going the route above...then a $7 ebook consisting of Steve Waggs--- never before published poetry etc. UGGGGGG! So in other words....don't just sell the next great OVER PRICED golf club gimmick. Make sure you sell it to a list of higly paid defense Lawyers who desperately want to increase their driving distance by 30 yards in between court cases! Oh yeah...Mr. Lawyer will pay you a lot of money for that club! Why? Because he can. Why argue. I am often amazed at how many marketers look at the NICHE... soley as a product...or simply as a market. It's obviously both. More importantly, why not combine affluent niches and go where the money is? Never understood why that concept is so intimidating or hard? Affluent niches are often easier... and surely more profitable then a book on--- Humming Birds in Heat...And Why They Destroy The Ozone Layer. Ya think? xxx Vegas Vince Legend.
	GirlsWhoSmoke.Co....Smoking Hot Barter Arbitrage...now the highest selling barter trade course ever. Squeeze BARTER IS BEST

11-20-2008, 02:25 AM	#2
mudmat Quick Cash Master War Room Member Join Date: Jan 2008 Location: Singapore. Posts: 364 Thanks: 32 Thanked 10 Times in 9 Posts Social Networking	Re: THE ULTIMATE NICHE FORMULA.... So it means that sell it to someone who have the money to burn and won't care if you overpriced it. They only care about increasing their driving distance. If the product can help them improve their golf swing, they will buy it any price because they got too muc money right?
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11-20-2008, 03:14 AM	#4
George Wright You R GREAT if you are A War Room Member Join Date: Jul 2002 Location: Shakey/Sunny CA, USA. Posts: 6,761 Blog Entries: 31 Thanks: 2,920 Thanked 1,836 Times in 738 Posts	Re: THE ULTIMATE NICHE FORMULA.... Great Post Vince, It reminds of something that was said to me by a young person a few years back when I asked him what he was going to do when he moved from NY to Sunny Cal. He said, "I'm going to hang around rich people, they will pay you to do the funniest things like clean swimming pools and wash their cars." George Wright
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11-20-2008, 05:58 AM	#5
Solidsnake Banned Join Date: Aug 2008 Posts: 999 Thanks: 38 Thanked 75 Times in 56 Posts Social Networking Contact Info	Re: THE ULTIMATE NICHE FORMULA.... Absolutely correct... a product cannot be good if it doesn't have a good market..

11-20-2008, 08:10 AM	#6
Kate Carpenter HyperActive Warrior Join Date: Feb 2008 Location: Northern California, USA. Posts: 269 Thanks: 39 Thanked 5 Times in 5 Posts	Re: THE ULTIMATE NICHE FORMULA.... VegasVince doesn't often start a thread, but when he does, I always read it because they are Gold! Thanks, once again, VegasVince! Kate
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11-20-2008, 01:58 PM	#8
Steven Wagenheim Content & Copywriting Wiz War Room Member Join Date: Dec 2006 Location: Roselle, NJ, USA Posts: 16,394 Blog Entries: 11 Thanks: 1,531 Thanked 6,192 Times in 2,288 Posts Social Networking	Re: THE ULTIMATE NICHE FORMULA.... If I ever wrote a book of poetry, it would be targeted to rich old men who can't get a date and I'd spin it on how to pick up 25 year old hot chicks with these words of rhyme and I'd charge a fortune for that book. So who says a book on poetry can't make money? All kidding aside, great post my friend.
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