The first secret of choosing a profitable market is the audience itself.
You want an audience that’s proven to buy.
And more than that, it’s even better if the audience is fanatical.
For example, one of my clients mentioned last week that a few of his buyers paid a premium fee to spend a couple of days with him. Nothing unusual about that. But they took a private jet to his location. They paid another expert to come with them and learn from him at the same time. Once you include that private jet and everything else, they spent a lot just for a couple of days with him.
And this is NOT a business market. It is a hobby market.
They’re not just buyers. They’re fanatics.
That’s the kind of audience you’re looking for.
They buy dozens of products on the subject.
A portion of them will pay premium fees for the best value they can afford.
How can you tell if you’re in a fanatical buying market?
You ask them.
Check the Amazon bestseller listings to see what’s selling.
Scan the reviews of those products to see if they mention how important the products were to them, whether they’ve tried other options, and if they use emotional language to describe the results.
Go over to the Clickbank marketplace and see what’s popular in your category.
Are there multiple products in your market that are doing well?
Join Facebook groups, Linkedin groups, or individual forums about the topic.
Do they discuss products in the market? Is this something they throw themselves into completely?
Are there magazines on the topic?
Are there expos, workshops, or clinics on the topic? What about meetup groups in your area?
Speak to people in-person or over the phone.
Are they passionate about the subject? Have they tried a lot of options? Is this a topic they’ve been interested in for years or even decades?
In addition to being an ‘addicted’ buying audience, you also want it to be a market that’s easy to reach.
Are there popular Facebook pages and interests you can target with advertising?
Are there Youtube videos with a lot of views?
Are there popular keyword phrases people are searching?
And finally, you also want a market where you value to share.
That doesn’t mean you need to be the premier expert on the topic. It simply means you need to have something to give or share.
You have a ‘reason’ to be in the market and help people.
I’ll be talking more about all 3 of these elements in the July issue of the Monthly Mentor Club.
It will be sent to the printer tomorrow June 30th.
Discover how you too can tap into a hungry, buying market that’s a good fit for you.
That’s a key. It not only needs to be a hungry buying market, but you also need to find your competitive advantage.
There are many Internet Lifestyle entrepreneurs who have chosen a market…but they’re still struggling…because they haven’t focused on their competitive advantage.
Now you can…in the July issue of the Monthly Mentor Club.