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17 September 2009

How To Identify Your Niche - Part 1

My blog on how to build a profitable niche market, I mention offering product to people who already want them. But I did not specify how to create the product you are offering them. Surveys are one way of knowing that.

Very little can give you as big a head start on success as knowing what people really want.


Learn To Do Surveys - Properly.

Doing a proper survey right is beyond the scope of this blog. Just understand that you can bias your results if you aren't careful. Do some reading. It's not hard to get the knack for this.

Learn to do online research. Dig into keywords. Study your competitors. Dissect businesses, and learn what works for them and what doesn't. Sign up for the lists of other marketers in your field. Read the influential blogs and other publications.

Look for trends. Not in opinion, but in actions.

Constantly open doors for feedback. Ask questions in forums, or just read what people have to say in response to the questions of others.

Create systems for your subscribers, prospects and customers to tell you what they like, what they dislike, and what they want.

Here's a key point to making the most of your feedback, however you get it... Don't just listen for the most common responses. Listen for the responses that sound the most desperate!

The most desperate ones, the ones that talk about real pain, are the ones that will turn a profitable promotion into a monster. Those are the ones that can kick your conversion rates up by multiples instead of fractions.

Those are your relevant points for building a profitable niche.

They're also the things you should focus on for your higher-priced back-end products and services.


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