Launch Your Niche Product…
Posted on | September 15, 2008 | 1 Comment
Missed the fourth part in the series? You can access it here: Complete Your Niche Research…
There are two things you should primarily watch as the list begins to build:
- How much traffic are you getting from PPC. You want to compare what you’re getting with the previous estimates, at this point you want real numbers, not estimates.
- Your opt in percentage. If it’s too low, either your squeeze page copy needs to be tweaked, or, if you’ve done your homework with the copy, perhaps this market is not made up of enough buyers.
Listen, if they’re not going to opt in, they’re certainly not going to buy!
Now if traffic and opt ins are both good, now is the time to start thinking about a product, which ideally should be along the same lines as the content they signed up for in the first place.
Sometimes you can even email your list at this point and simply ask them what they want, or try to determine their wants and needs from carefully constructed survey questions. Just remember that people often say one thing and do another. It’s only 100% accurate when they vote with their wallets.
An even better way to test your list’s desire for a particular piece of information is to announce a free teleseminar to them, then see how many show up. If a large percentage of your list calls in, it’s a good bet they’re interested in your call topic.
HINT: Teleseminars also make GREAT products or bonuses themselves if you record them and sell them after the fact. In fact, sometimes you can even announce a paid teleseminar rather than a free one.
Why?
Because then you know people will pay money for that information, an even better test indicator. They are voting with their wallets. Plus you can always sell the call recording after the fact as well.
Another technique to test whether this niche is built up of buyers or tire-kickers and freebie seekers is to promote an affiliate product within that niche.
If the product content is similar in nature to what you want to create as your product, it’s a good indication that you have the potential to get a similar percentage to buy yours. Just make sure it’s either a non-competing product or a front-end sale. If it’s a front-end sale, you’ll develop a mid or back-end product.
Bear in mind that in the case of the latter, you’ll get less of a percentage to buy (compared with the percentage who bought your affiliate front-end product), but you may make up the difference and then some with a higher ticket item. It’s a risk, but it should be a calculated one.
The beautiful thing is, once you confirm a niche will be profitable, with this approach you already have a pre-built list that keeps getting bigger by the time you launch the product.
So there you have it.
There are plenty of sites you can use for research in addition to the ones identified earlier, but they are usually niche specific. These sites will help you to research practically any niche market effectively. Once you have this process down, you’ll be able to do this very quickly.
After all time is money.
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One Response to “Launch Your Niche Product…”
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October 28th, 2008 @ 9:27 pm
Well written article.