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Choosing A First Information Product

by Cwookie
4 replies
Hello Warrior,

I hope y'all having a great night.

I have a single problem that might be resolved through your help. So, here it goes; I started following some expensive course that explains how to make money selling information products. The person states that every niche on the internet should be seen as a need and therefore potential costumers through which you can make money if you offer them a solution for that need/problem.

Knowing that, I am still unable to decide what niche to chose or what my product should be about or even less how it should be named, but that last part is okay. I'm 18 years old and managed to make money online before through SEO, but I actually never offered any solution... You get what I mean? Those quote on quote black hat niches where people look for free stuff and they never get them.

Anyways, how should I go about this? I can't seem to find the right niche for myself.

Here are some few ideas I came up with
*5 Things You Should Know About Smoking Weed
*5 Easy Steps in Order to Have Your Own Place (Even though I didn't move out yet)
*How to dress well without spending too much

Also other niches that interested me were
*How to organize your life
*How to overcome social anxiety & shyness

Oh and one last thing! How do you go about testing out those niches?

What do you successful Warriors think about all this?

Charles
#information #product
  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by Cwookie View Post

    The person states that every niche on the internet should be seen as a need and therefore potential costumers through which you can make money if you offer them a solution for that need/problem.
    A lot of people seem to regurgitate that sort of "information", but I think it's lazy and pretty misguided thinking, myself.

    Generally, I don't think "problem-solving niches" are nearly as good as "enthusiasts' niches".

    Once you've built your subscriber-list, established your credibility, formed your subscriber-relationships, and all the other basic, essential things you need to do to make marketing worthwhile, you're then going to promote your first product to each subscriber, according to the number of days for which s/he's been a subscriber and autoresponder emails s/he's already received from you (assuming that you have the sense to wait until then, and not lose most of the potential customers by promoting too early, as many people do!). A proportion of them will buy it.

    At this stage, "in problem-solving niches", looking at it in very simple terms only, one of two things happens.

    Either they like it, they think it's great and it solves their problem (the result is that you can't sell them anything else because they don't need to buy anything else, so you've just lost most of your potential future income) ...

    Or they don't like it, they don't think it's great and it doesn't really solve their problem, (the result is that you can't sell them anything else because you recommended a bad product, from their perspective, and blew your credibility, and they don't trust you any more).

    Not a great outcome for you, either way.

    In "enthusiasts' niches", people gradually buy more and more and more, to feed their enthusiasm, so you don't have that problem to anything like the same extent. (Having bought expensive things from this winter's Louboutin collection won't stop me from enthusiastically buying more expensive things from their 2015 summer collection.)

    Be aware that for many successful marketers, most of the long-term money comes from making repeated sales to the same captive audience (your subscribers - that's why listbuilding is so important!). That's why "enthusiasts' niches" are better than "problem-solving niches", and we're perhaps better off looking at those, rather than at how to solve others' problems.

    Once you solve someone's problem, they may not still be a customer at all; and once you fail to solve it, they may not be your customer.

    .
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    • Profile picture of the author Cwookie
      Originally Posted by Alexa Smith View Post

      A lot of people seem to regurgitate that sort of "information", but I think it's lazy and pretty misguided thinking, myself.

      Generally, I don't think "problem-solving niches" are nearly as good as "enthusiasts' niches".

      Once you've built your subscriber-list, established your credibility, formed your subscriber-relationships, and all the other basic, essential things you need to do to make marketing worthwhile, you're then going to promote your first product to each subscriber, according to the number of days for which s/he's been a subscriber and autoresponder emails s/he's already received from you (assuming that you have the sense to wait until then, and not lose most of the potential customers by promoting too early, as many people do!). A proportion of them will buy it.

      At this stage, "in problem-solving niches", looking at it in very simple terms only, one of two things happens.

      Either they like it, they think it's great and it solves their problem (the result is that you can't sell them anything else because they don't need to buy anything else, so you've just lost most of your potential future income) ...

      Or they don't like it, they don't think it's great and it doesn't really solve their problem, (the result is that you can't sell them anything else because you recommended a bad product, from their perspective, and blew your credibility, and they don't trust you any more).

      Not a great outcome for you, either way.

      In "enthusiasts' niches", people gradually buy more and more and more, to feed their enthusiasm, so you don't have that problem to anything like the same extent. (Having bought expensive things from this winter's Louboutin collection won't stop me from enthusiastically buying more expensive things from their 2015 summer collection.)

      Be aware that for many successful marketers, most of the long-term money comes from making repeated sales to the same captive audience (your subscribers - that's why listbuilding is so important!). That's why "enthusiasts' niches" are better than "problem-solving niches", and we're perhaps better off looking at those, rather than at how to solve others' problems.

      Once you solve someone's problem, they may not still be a customer at all; and once you fail to solve it, they may not be your customer.

      .
      It's definitely an interesting point of view.

      I therefore have a few other questions that came up from your post. Here's the first one: how did successful marketers like Eben Pagan manage to sell that much information products and still does!?

      What's your opinion on information products which makes sure people subscribe monthly in order to get constant help and coaching?

      Thanks Alexa taking the time to post such a complete response.

      Charles
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      • Profile picture of the author Alexa Smith
        Banned
        Originally Posted by Cwookie View Post

        how did successful marketers like Eben Pagan manage to sell that much information products and still does!?
        I'm not in his niches, and probably won't be good at answering that. But I suspect that substantial parts of the answer may be (i) by being very good at what he does, and building trust-based relationships with potential customers; (ii) by having good writing skills, and (iii) by having become "big" quite a while ago when there was a whole lot less competition than there is now.

        Originally Posted by Cwookie View Post

        What's your opinion on information products which makes sure people subscribe monthly in order to get constant help and coaching?
        Are you asking as a potential affiliate or as a potential vendor?

        They can be good to promote if you can find really good ones to which a majority of subscribers actually remain subscribed, without cancelling, for long periods (thus proving that there's "real value" there), if you have the right skills and niche-understanding to promote them successfully.

        They're also rather high risk. The important thing is to form a clear impression, before recommending a rebilling product to your subscribers, of the proportion of customers who renew. To promote something which nobody renews for long can blow your credibility and the reliance that people have on your recommendations very quickly indeed. Trust and respect are slow to generate, but can be lost in an instant.

        .
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  • Profile picture of the author loaf1011
    Cwookie - before anyone can answer that, you need to answer these questions:
    • What are you passionate about?
    • What can you get results for other people in?
    • Who do you want to serve? (Who is your ideal customer?)
    • What is that person's biggest pain points? What problems do they have?
    • What sort of solutions can you offer them? Are they willing to pay for that solution?

    By answering those you should be much closer to answering your initial question. It's all about providing people 10x the amount of value that they paid you, and ensuring that they get solutions to their problems.

    The ideas that you listed make good potential lead magnets (ebooks or videos that people can opt-in for), but they don't solve a problem.

    I hope this helps!
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