My personal philosophy has always been governed by somewhat of a "go big or go home" attitude. When I started researching methods on ways to make money online I immediately chose vendor over affiliate. It just made a lot more sense to me to build a product of high value and get other people to promote it for me rather than vice verse. Obviously there are tons of successful affiliates crushing it, but I feel like if they invested the same effort in product creation they could make a lot more money.
There is a ton of information on SEO, product creation and all the other jazz involved so I want to focus on the hardest step (and in my opinion the most important) for most people trying to break into being a vendor. PICKING A MARKET.
If you pick a winner and do everything else correctly you will make money
If you pick a loser and do everything else correctly you will lose money
Therefore, I think market selection and becoming a vendor were the two vital decisions I have made in my IM career.
Step 1: Find a market
Here were and still are my qualifications
1) Evergreen Market. I don't want to put hundreds of man hours, hundreds of dollars and my sweat equity into a product that will not be marketable after launch, or a couple months/years down the road.
Sure there are vendors who crush it with launches and products that will have a temporary need, but guess what? My products will sell forever. I have one clickbank product that does over 20k a year in a VERY evergreen niche that there will always be a demand for (in the foreseeable future.) This product will make me around 20k a year for life as long as I keep the marketing efforts up.
And by evergreen let me clarify...
There will always be a need in niches such as dog training, design plans, pet care etc. These products can sell for life!
There will NOT always be a need for the latest SEO technique, the latest MLM or membership site, the latest diet fad etc.
2) Desperate Buyers Market
By definition, this a market where consumers are DESPERATE to alleviate there problem or concern.
For example this would include, get an ex back, cancer remedies etc
People who would not bat an eyelash at spending 50 bucks to help their problem immediately!
So when I was deciding on a market I chose this one over say "resume cover letter builder." Sure they sell, but I guarantee yours and your affiliates conversions will be WAY higher in a desperate buyers market. You are essentially guaranteed to make sales and convert at a respectable level as long as your product and sales pitch is semi solid.
3) Market Need/ Search Traffic
When I look at new clickbank products to create ( I am the owner of 4 that currently generate revenue on a consistent basis with more in development) I obviously look at search traffic.
There are definitely micro niche product opportunities available, but those arent going to get you 5-6 figure checks.
If I am trying to dominate a market, I will use the previous two qualifications and then see if the search traffic is AT LEAST 30-40k a month for the main keyword and if I can rank in the top 3. If not, I skip it.
If I am trying to break into a giant market with millions of searches like in say "Bed Bugs" I ignore all competitive factors and just do. In the markets with astronomical traffic, it is almost impossible not get visitors if you optimize correctly. If you build it, they will come.
The hardest part is finding a market. I already have a team of outsourcers that handle everything from product creation, articles to different SEO tasks. (Although I did everything myself for my first product.)
Now that we have picked a market where know we will have a converting winner that will last forever and has demand its time to make the product.
If you have any questions feel free to PM me or post here... I love helping who are new to the industry and stumped on how to get started.