Deciding what market you want to work in can actually be confusing for some people because they get pulled into areas that they have little knowledge of but think that is where all the money is. One of those markets that many people feel they need to be part of is the make money online niche, but the truth is there are hundreds of other markets that are just as profitable and far easier to start in.
There is nothing wrong in showing people how to make money online because it is a huge market with tons of new people entering it every week who are hungry for information, but it is a more ruthless market and does require a different mindset. Subscribers to lists in this market tend to be on many subscriber bases and therefore are used to being marketed to on a daily basis, and so it requires a slightly different approach when connecting to these people. Before anyone can sell a product or information than they have to gain the trust of that subscriber and in this niche, it can take a little more effort because most subscribers will have come across unscrupulous marketers who sell rehashed products or simply things that just don’t work. This creates a different mentality and trust takes a little longer to build. It is still a very lucrative market though.
If you don’t have a clear idea of the market that you want to build your subscriber base in been a great place to start is with your interests and hobbies. This is because you will be firstly interested in the subject and therefore that makes it easier for you to create content without getting bored and also your enthusiasm will be obvious to the subscribers. The opposite of that is true of course if you are involved in a niche that you have little interest in.
What you must do is understand if your chosen niche is in what we called a buyers market. This simply means a market that has lots of people looking for information and products. Ask yourself what do you purchase in this niche. Are there are higher-priced products because this is important as well.
An example of a buyer’s market would be the golfing niche. Golfers are hugely enthusiastic about their sport or pastime and they spend money to try and improve their game. Think about the products that are available to golfers, everything from clothing and new equipment to video courses and discount holidays. Actually, the list of products is far bigger than that but you get the picture. The people in this niche spend money and are hungry for information.
An example of a poor buyers market is the diabetic niche. There are thousands of people constantly looking for information and this niche because there are thousands of people being diagnosed with the condition every week but they are not necessarily buyers. Much of the information they require is given by health authorities and is freely available on health websites. The products that are used like blood testing machines are genuinely given out for free because the drug companies are more interested in selling the testing strips that go into the machine.
Diabetics and their close family do buy books but there is not a huge amount of money to be made from promoting books unless you write one yourself. There are more expensive products out there that promise a cure for diabetes but these are created by the snake oil salesman and have no truth to them and so therefore best avoided.
More to follow.