The Number 1 Way to Find a Niche Product

There are many ways to find a niche product and there are loads of people out there paying big dollars to track them down.

The simple rule, cheapest rule and the best way to find a niche product is to look in your own backyard. I don’t literally mean get out in your back yard and have a hunt around I mean have a look in your life experiences. What have you done with your life? What kind of jobs have you done? Where have you travelled? What have you experienced? Somewhere amongst all that is a pile of niche products. You’re all probably saying to yourself “what is this bloke on about?”

What I’m trying to get at is there is something that you have been really into maybe your still into but whatever it is you enjoyed it/enjoying it and you know a load about it.

Think of anything?

You won’t take long to figure it out I’m sure. Have you got it yet? Ha-ha, all good if you don’t because you will.

The reason why it’s a good idea to focus on something that you enjoy is because the niche products that will be best suited to you are things/services that you know a lot about and you may also enjoy them.

So what I’m trying to say is your niche product is going to be something you are already aware of. The best niche product is something you enjoy focusing on as you already have a head start when it comes to research, article marketing and websites.

Let’s say you are an avid “photography” fan. You have a good camera and you like to get out and about to take some pics once every 2 weeks. So its fare enough to say that you enjoy photography and you know about the different cameras, amongst other things.

Can you guess what your niche product would be? It’s NOT cameras because it’s too broad. If someone typed “cameras” into a search engine they would be looking for all over information and not sure which is which or what it does. People who do this are most likely in the market for a new every day camera and they are NOT your target market. Your target market is people who are also into photography and know their cameras. When they do a search they will type in the name and brand of a certain (most likely top brand) camera because they know what they want, they have done their homework and they are probably photography fanatics.

See what I’m getting at?

Decide on a broad market/product/service you have knowledge about and then break it down into groups such as tools, equipment, brands, etc. Look at what kind of people would be associated with your chosen broad market and you now have target markets. Focus on one of them and you have your niche market that is in demand for a niche product.

Niche Products – How To Offer Niche Products and Services Rich People Love To Buy

Niche products and services is the one category consumers are still buying in this recession. But the ideal target customer for most consumer related products and services is the affluent buyer. Do you have a premium service or product that can serve the affluent consumer? Unfortunately targeting the wealthy consumer can be intimidating to many. Perhaps because they’re viewed as more demanding, discriminating or picky. But contrary to popular belief and how they’re viewed in the media, it’s often no worse targeting products and services to the rich than it is to average consumers. Here’s why.

First of all you’d be surprised how many millionaires shop at places like Wal-Mart, Target and Kohl’s. And second, many average consumers or even consumers on Welfare can be as tough and picky and more demanding. Why? Because they have less money to work with. So, if you can confidently provide a good product and can give excellent service, take it up a notch by offering products and services rich people love to buy.

– The advantages of offering products and services rich people love to buy:

– They’re the best repeat buyers!

– They’re the best at influencing others to buy what they buy!

– They’re the most loyal customers when you keep providing good service!

– The love to buy unique niche products and services!

– They’re not at the mercy of economic downturns as much as other consumers!

These are the top reasons to make it a point to target some of your efforts by target marketing a product or service to rich people. They love to buy products and services that make their life easier, saves time or entertains them. But don’t let that stop you if you’re still drawing a blank as to what to offer the rich client. If you already have a product or service you can simply offer a deluxe, premium or ultra service or version of your product.

Want another valuable idea that will get you started in the right direction? Here’s other services rich people love to buy.

– Offer a faster turnaround time,

– Offer a more extensive or detailed service than what you normally perform.

– You can also offer a more customized or personal service or product than usual.

This is what rich consumers love to buy.

Here’s another valuable niche idea. To add an extra incentive you can bundle an offer to your customers. Just because affluent people have money doesn’t mean they don’t like a good deal, how do you think they got so rich? So, you can try selling them a product and bundle in a premium service with it or offer a premium service and throw in a high demand product for no or low cost.

Remember rich people love perks, in fact they expect them. If you’re in a highly competitive niche market the more perks you can give up without losing your shirt or skirt the more business you’ll get from rich people. Just remember perks can often get you in the door, but it can’t keep the door open. The only thing that can keep rich people coming back is fanatical customer service and unique niche products that save them time, pain or inconvenience. These the types of niche products and services rich consumers  love to buy. Use them to add profits and punch to your business.