Once you decide to start creating products yourself (such as digital products), your first step will be a brainstorming process in order to come up with great ideas which you can then follow through with.
The entire goal of creating your own products will be to make sales and profits, keeping 100% of the revenue for yourself. This being the case, it is important to start out with a good understanding of your target audience, so you can create products which speak to their needs.
Niche Marketing Explained
One of the reasons why online marketing and digital product creation are so successful is because of niche marketing. Niche marketing allows you to target a specific audience whom you know is already interested in a particular topic.
For example, if you want to locate a target audience of quilters or people interested in dog training, the internet can help. These people tend to congregate at certain sites, in certain groups, and interact with one another, comparing products and services as they share hint and tips.
Once you know whether or not your niche is a paying market with happy customers who buy products regularly (for example, quilters), then you can start offering them the kinds of products and services they really need in order to get the most out of their niche.
Know Their Pain Points
We commonly refer to niche needs as “pain points”. In other words, the people interested in your niche have a problem and they are looking for a genuine solution. Understanding the pain points is the best way to brainstorm products and then narrow it down to the one/s that will resonate with your target audience and turn them from browsers into buyers.
There are a number of ways to discover pain points. The first is to find out where they spend their time online. Discussion boards, social media, and blogs related to your niche are good places to start. Observe their behavior for a period of time, making notes on what they are talking about, what their problems are, their frustrations are and so forth. In this way, you can start coming up with ideas as to how to help them by creating products that will solve their issue/s at an affordable price.
Niche research is almost like mind-reader marketing. When you show that you understand and care about your audience’s pain points, you are much more likely to get people to buy.
Choosing a Delivery Method
Once you have come up with a list of pain point and possible solutions, think about the best format for the delivery of those solutions. You have a number of options.
The most logical is the ebook. You can post an ebook online at Kindle Amazon and have it up and selling in a matter of only a few hours. However, the pricing on ebooks is rather low. A better solution might be a multimedia product. It could contain video, audio, worksheets and other handouts. In this case, you will be able to charge a higher price because the item is of higher perceived value than the plain ebook. A multi-media course back can command $97 or more depending on the number of videos, handouts and so on.
Some people love audiobooks, so why no consider having someone read your book aloud and bundle the two together.
Start from the Beginning
If you are still stuck for ideas, think back to what it was like when you were first beginning in your niche or industry. What things do you wish you had known then that you have since learned the hard way?