Your Next Steps After Finding Your Niche Market Product - Miles Beckler

Your Next Steps After Finding Your Niche Market Product

Testing will empower you by seeing if your niche market product resonates, BEFORE you invest your time, money and energy.Click To Tweet

After you’ve nailed your niche idea, the next question is what are the best niche products to sell online to your audience?

When you go from the research phase to your action phase in growing your online business, that’s where it starts to really get fun.

The next step is figuring out what niche market products will make you money!

This is tricky I know because I’ve been there time and time again. Through my experience I have figured out the absolute best way to help you determine the cheap and fast way to test your niche product ideas.

Want To Nail Your Niche Market Products Faster Than 4 Years!?

 

If you'd prefer to listen to this content from the video above, play it or download it from the podcast episode below.

My niche market product example is the end of a loooonnngggg product testing story.

Following this simple two step product testing framework you will not have to go through the LONG niche market product testing I did.

Why?

Two Words

Real Data

I was going off of guesses and trying things out, learning this internet marketing thing.

16 years later, hindsight is 20-20!

You are going to get two valuable pieces of data, specific for your niche market that will give you the ability to scale your business faster than some alternative.

The Importance of Finding The Right Niche

Your Next Steps After Finding Your Niche Market ProductLet me just give you a quick side note here.

You want to make sure you’ve found the right niche that suits you because the power in the two steps that follow can generate you a TON of income!

Get it right in the niche market but wrong for you…

You lose!

Making money is simple but making money in something that fits with You’re DNA, your life goals, your dreams and passions?

That’s a different story.

You have to know the best match and what’s in alignment to your personal DNA, passion and what excites you. Because this path you’re going down is potentially a long one.

Before you implement this niche marketing strategy ensure you are in a niche you love.

If you have any doubt about your niche decision, check out these 3 Real Life Niche Market Examples and these 55+ Niche Ideas built from solving needs.

Got your niche market decided?

Don’t Make This Rookie Mistake When Determining Your Niche Market Products

Don’t Make This Rookie Mistake When Determining Your Niche Market Products

The last thing you want to do is throw a ton of money down the drain while you’re trying to grow and expand your online business.

Knowing the best niche products that fit your online business is the most logical approach, being worth your time and effort.

List niche products that come into your mind definitely, but what you do with your list are going to be the next crucial steps.

Rookies often make seriously expensive mistakes by not knowing and following these steps.

I want to spare you from that.

Minimum Viable Product or Something Better?

Minimum Viable Product or Something Better?

Let’s say you have a new widget, a new soap, or whatever product you have in mind.

You may have heard the advice that you should create a minimum viable product to sell your niche market product.

This is the WRONG advice.

At this point, you’re just starting out and it makes no sense spending a massive budget on a product idea you’re not even sure is going to sell.

Time is money and without knowing if people will buy or if they are even remotely interested in what you’re offering them is not efficient.

Instead of going full on and exhausting your budget in creating that product, there is a better way to find out if you’re niche product is going to sell.

Expensive and slow is the wrong way to go!

Test your niche product ideas cheap and fast first.

Before you waste your time creating a minimal viable product, the question really is, can you create something that your audience would actually buy? Click To Tweet

What is a Successful Niche Product?

What is a Successful Niche Product

There are market research tools, survey methods to determine what to sell, and old faithfuls like following your gut.

None of it compares to getting real data from real people. Knowing if a real person on their computer or phone pushes the buy button and checks out with a credit card.

When you have this kind of real life stuff going on for your products that is the point that you have hit a successful niche product.

You are going to KNOW from Real User Data three things that will revolutionize your business.

  1. What you can give away that costs you virtually nothing, to get leads
  2. What those leads buy that’ll make you money
  3. How to scale those leads and sales to the highest heights

Here’s what to do after you find your niche.

The Ultimate Test for a Successful Niche Market Product Launch

The Ultimate Test for a Successful Niche Market Product Launch

Here’s what we learned from our experience when we were building our membership for our audience.

When you test an idea first you win!

You have to determine if people would even want to buy your stuff, and you want to do it quickly and easily. If it’s a yes, then boom, you know what to make and sell.

If it’s a no, you just saved a bunch of time and money!

By testing first you accomplish two rock star goals.

  1. Build your email list and sell - Super Win
  2. Build your email list and know what won’t sell BEFORE your create it - Win

This Perfectionist Mistake Will Slow You Down, Don’t Let It

This Perfectionist Mistake Will Slow You Down, Don’t Let It

When successful entrepreneurs begin building and creating,

You get stuck in the cycle of perfection and sometimes go weeks and months of redoing, replanning, scrapping stuff to come up with something you think is better.

Embodying this perfectionism syndrome will kill this simple niche market product formula.

Your attention to detail is like a bazillion times bigger than your customers' and 'shipping the work' is really the transaction point.

You are testing to create your Mona Lisa, not creating the Mona Lisa.

Covenant to me that you will think fast, decide fast, launch fast, to determine your niche product fast.

It is the simplest, cheapest, and most efficient way.

As Jay Abraham once said, “Everything is about testing from this point on.”

You only need good enough at this stage to get the data you need to scale your business.

Let’s have some fun, build some good enough data collection pages, determine your niche market products, and make some money!

1. How to Generate Leads for Your Niche

How to Generate Leads for Your Niche

Can you give something away people want and are willing to exchange their email address for?

If you can, you are at step one of making serious money online.

To sell the most for months and years to come, you need an engaged email list.

When you get a freebie dialed in that is a lead generating machine you can use it for your Facebook advertising, website optin form, Instagram marketing, and many other lead generating activities.

Your lead magnet (the free resource you provide to them) must be something that matters to them, that they really NEED and will make them say, “Hey, this guy’s got exactly what I want and I don’t mind giving him my email address for that guide/ video/ mini course / etc...

Make it irresistible, make it super helpful, here are a few hacks to craft a high converting lead magnet.

Out the gate, this first step will tell you what 20% of your niche market can’t resist in exchange for their email address.

If you are less than 20%, test a new lead magnet.

I am now around 40% on this website but it took me three tests to get to that number.

And, If you can’t give it away you definitely can’t sell it!

We’re not talking about a $200 dollar product here…

On my main website we give away a mp3 recording of my wife speaking over an audio track, but our niche LOVES it!

Retail value is in the 9-17 dollar range, cost to us?

A little bit of time, a licensed for business use music track, and a drop in our awesome hosting service.

What can you write, record, make a video of in 2-4 hours that you can give away to your niche market? How about?...

3 Tips to…

7 Things to Avoid When…

This One Easy Exercise Will….

You got this!

Go deep on How to Generate Leads for Your Niche Market

The Start of Your Sales Funnel is the doorway to Your Ultimate Goal

Opt-In Page Examples that Have Generated Millions

The Tool That Generated 178,632 Leads W/ Content Marketing

Now let’s sell some stuff

2. Two Easy Ways to Determine Your Niche Product to Sell Online

Two Easy Ways to Determine Your Niche Product to Sell Online

As you will see next in our niche market example,

Some people may be okay with giving their email address just to get that free thing you’re offering them.

But the whole game changes when it involves money.

Make Money and Test Affiliate Products for Free

Make Money and Test Affiliate Products for Free

If you don’t have a product yet, it’s all good. What you can do is promote an affiliate product.

Affiliate marketing is a missed opportunity of many businesses.

No need to spend hours creating your own niche product if you don’t have the time or idea at the moment.

You don’t have to create a product from scratch to make money in your niche.Click To Tweet

You can find someone who has a product that is a solution that matches your niche market. Point your audience to it, and make money while testing other peoples niche products to sell online.

If it works out, you can replace that affiliate product with your own product somewhere down the line or, you could just crush it making money with affiliate marketing.

Throw Your Hat Over the Fence and Test Your Custom Niche Market Product

The smartest route to take is to create a sales letter and see if you can get anyone to click on your BUY button.

This is the throw the hat over the fence model, a GREAT model!.

If they DO click on the buy button, then you can decide if you’re going to move forward in creating your niche market product or refund your purchasing customer’s money.

When we launched our test, the results were high enough so it then made sense to hustle for 3-4 days, create and build what we offered, and rock and roll.

If the purchases were not as high as they were, we would have just refunded the few who bought, and tried something else next.

You don’t have to create a product before you determine if people will buy it.Click To Tweet

This is the Ultimate way to make money in your niche market.

Determine your niche market product that sells with a super simple Minimum Viable Funnel.

A Successful Niche Market Product Example

A Successful Niche Market Product Example

A few years ago in my wife and my business, we decided we wanted to create our niche market product.

We had already defined our narrow niche and knew the best online business model is an information product but had no idea what all ours would include.

We also wanted to transition from Melanie’s consultations into a monthly membership plan.

Recurring revenue?

Heck yeah!

We sat down, had a mastermind session and wrote down everything we could offer in a monthly membership and wrote out a sales letter.

We thought, if no one purchases, then great, it’s not a waste of time because we now know. We don’t have to keep guessing and can just come up with a new idea.

The result of our niche market product example?

When we put out the membership offer, we ended up getting flooded with people signing up to stuff that wasn’t even existing at that point!

To Build or Not to Build?

We spent about 3-4 days hustling to create the product, built the membership and five years later we still offer that membership.

Before you go way over your head in the planning, designing, and actualizing your niche product idea, test first.

That’s how the pros do their niche marketing and going pro is the only way you want to go.

Testing will empower you by seeing if your niche market product resonates BEFORE you invest your time, money and energy.

How to Scale Your Niche Market Product

How to Scale Your Niche Market Product

How do we scale this thing?

You determine your why you want to create an online business because it is not easy and you need to have your why determined.

Then you reach more people in your niche market and get crazy on split testing everything!

And to test everything you need people to try out your tests on.

The Super Simple and Fast Way To Test and Scale Your Niche Product is to build these three webpages and start a $5 Facebook ad a day campaign.

That is the bread and butter of my online business that took me from a couple thousand a month to 5 figures consistently.

If you are a one man team or are just starting out, that is all you should focus on tomorrow.

If you’re already in this internet marketing game with a team or are up for the hardest challenge of your life, building out these two fronts simultaneously will make you unstoppable.

  1. The long term business success formula is the earn money online without a big investment method.
  2. The short and fast way to make money online is crafting your custom sales funnel template.

Commit hard to those two things while avoiding the number one mistake people make with split testing and make sure you come back and leave me a thank you comment from your condo on the beach.

Rock Out Your Niche Product Launch, Rock Out Your Life

Rock Out Your Niche Product Launch, Rock Out Your Life

My first attempt at an internet businesses failed. Actually, I’ve had dozens of niche product ideas and most of them ended up being scrapped because they weren’t working. But you know what, I learned more about my goals and dreams along the way.

It took me a while to get this to work. The big trick I learned and the takeaway for you is to test as quickly and inexpensively as you can and then let the data tell you what you do next.

Do you try another headline? Another lead magnet test? Do you try a whole new product? Do you test a whole new niche? Just stick to the successful online business principles and you will win.

You're feeling out the audience and learning about you.

The quicker you can get to this point, the quicker you’ll know for sure whether your niche product ideas are worth the time and energy to create them and what you can do to adapt your strategy.

The fake gurus will tell you you can make money overnight, but that’s just not true.

Start with a Minimum Viable Funnel, test the data, and do these quick, inexpensive, efficient, and super effective steps to creating niche market products that will actually sell.

Got a question on your mind? Leave it for me in the comments below! Thanks for your time, happy testing!

About the Author Miles

Miles is a full time internet marketer who sells information products and a niche membership program with his wife, Melanie. Together they have created a lifestyle business that allows them true location independence and this blog where you get to see behind the scenes and see how they have built their online business from scratch.

Leave a Comment:

10 comments
curiousian@gmail.com says June 25, 2017

Hi Miles,
Great and massive amount of content you have generated in little amounts of time. Very impressive!
I have followed a little and realized down the road that I have had a question lingering for a while, which felt a little ridiculous to ask, but at the same time I feel these are concepts that may overlap at times specially when the business is growing. Here I go:
What are the nuances, if any, between what you refer to as a funnel vs a e-com store? I see how the funnel is the typical go to for someone selling one or two solutions (such as a course or e-book), but what if you get into more material and content which turns an email marketing sales funnel into an e-store. I hope this makes sense... I'm really asking because I'm wondering if I'm heading more toward the pure e-commerce model should I still stick to the WordPress approach or look to packaged solutions (which as you said are much more expensive, agreed on that 100% - and not necessarily better, just faster overall)
Thanks!

Reply
    Miles says June 30, 2017

    To me, ecommerce is to sell physical products in an electronic version of a catalog. A funnel is to sell mostly digital products, but can work for physical product too when there aren't many choices.

    Funnels work for physical products if you have one product to offer on the front end and one or two to offer on the back end.

    For ecommerce on WordPress, look at Woo Commerce... Definitely the leaders in that space.

    We have over 100 digital products available and still don't do the whole e-commerce thing... Just lots of sales pages on our site that act as mini funnels.

    If I was going to start selling a line or multiple lines of gemstone jewelry, then I'd build an ecommerce to show off all the different products and have them sortable by type, gem, size, etc.

    Reply
Jayme Edwards says June 30, 2017

Hey Miles,

Nice to read your article. We've exchanged a few thoughts on YouTube.

A couple quick questions on this one. When you two launched your membership site back in the day, I'm assuming this was prior to Facebook ads. Did you use some other traffic source to get people to the sales letter?

I did exactly what you suggest not to do and made my membership site first, then built a funnel with an optin to watch a vsl on the front. I got a decent click through rate after trying several ads but no one would opt in to watch the sales video.

So I did some more reading and was suggested to create a lead magnet, so I made a free quiz people could optionally opt into to get into an auto responder series that would link to the sales video in the 5th email.

No luck with getting folks to even take the quiz. So I came across your video last night where you suggested giving information away to establish yourself as an authority before you even try selling anything. Is this what you two did before launching your membership back in the day?

Basically I'm trying to figure out how much free content to create before I should bother running ads to optin pages again. My membership is for personal coaching from me on advanced software development processes that consultants usually charge thousands per week for. I want to offer social coaching one on one for cheap so I can help more people instead of working for a single client.

Sorry that was so long! Thanks for any insight,

Jayme

Reply
    Miles says June 30, 2017

    To launch my membership, I leveraged my email list and my web traffic from my organic SEO efforts...

    A quiz is not really a value add to anyone's life. You only need one great free item to grow a list. For our list it is an MP3 that gives our customer avatar something they deeply desire that fulfills an emotional need for them.

    Once they have that experience with our MP3, they seem to like it and want more... So we offer them more MP3s and the membership that allows them to get all our MP3s for one monthly price.

    What part of the software development process can you give them to help them have a great experience with your content... Or catch them up on your 'philosophy' and prequalify them as the kind of advanced developer you want to work with?

    Sounds like you are trying to hold back all your best content and expect people to pay first... You gotta give first for a funnel to truly work for you! Check this video out for more on that philosophy: https://www.youtube.com/watch?v=mOo-_wvKuFM

    Reply
      Jayme Edwards says July 1, 2017

      Thanks Miles that's the exact video I was referring to. I'm considering splintering some of the content in the membership like Ryan Deiss suggests.

      Reply
        Miles says July 2, 2017

        Definitely a balance in there, somewhere... Can feel tough to 'find' but sometimes we error on giving too little, swing to giving too much, and find a balance through continued testing. I often defer to erroring on the side of giving more...

        I share a framework here in this vid: https://www.youtube.com/watch?v=7AEG7wJLh6U and sometimes you can give away a few parts that get people ready for the paid section... Give them the what to do for free... Sell them the how to do it in the membership with ongoing support. That is a great model for many!

        Reply
Melissa says August 12, 2017

Hi Miles - if I want to follow your videos from the beginning - can you send me a list in order?

Reply
    Miles says August 13, 2017

    There is no specific order... My YouTube channel is http://www.youtube.com/milesb and then use the search feature to find the answers to the questions you have.

    Reply
bearonawalk@outlook.com says January 3, 2018

Hey Miles, thank you for your awesome content! I really am trying to see if my niche is good enough or if I need to adjust. I came across a tool called "keywordsnatcher". Have you heard of it? And what do you think of it?

Thanks again 🙂

Reply
Add Your Reply