There’s absolutely no doubt that you can make a good income as an affiliate marketer but if you want to know how to take your business to the next level then you need to know how to create your own products.
Depending on what niche you are in, you might want to consider creating some physical products to sell but we are going to talk mostly in this article about how to create your own digital products rather than physical ones.
I would just like to point out one important point right from the start as this is a mistake that many people make when they decide to create a product. You might have noticed that the title of this article is “How to create your own products that sell” as opposed to “How to sell your own products”. What’s the difference?
Well if you just create a product because it’s something you fancy creating and then try to sell it, you will often find that it’s a complete flop! Why is that? Unless you spend some time finding out what your market actually wants to know then you are creating something that possibly is only of interest to you.
To create a product that sells, you first of all have to identify a hungry market, and then offer them whatever it is that they are hungry for. This is the hard work and is something that is worth spending time on. Don’t move on to the creation part until you find that ideal audience of people that is ready and eager to buy.
When you have done that part right, creating the product is actually the easier job, as well as the fun part because you know in advance that what you are creating is going to solve people’s problems and thereby make money for you!
How To Find A Hungry Market
A hungry market is a group of people who are motivated to learn a lesson that you can teach them. They have a pressing need for information and are willing to part with money to get that information
So how do you identify a hungry market?
Here are some of the most important things to look for when considering a possible market for your product:
- They are in “pain”. This can be both physical and mental / psychological pain. They will be looking for a way to relieve the pain and will be willing to pay to get the relief they desire.
- They have a genuine problem. When someone has a problem that they haven’t been able to solve themselves then they may well be willing to pay you if you can offer them a genuinely effective solution to the problem.
- They have an aching desire for something. If someone has a desire for something that they cannot find by themself then they may well be willing to pay you to provide them with the object or experience that they desire.
All of these things have great potential for creating a product that addresses the customer’s needs. You might initially think that providing something the customer desires is the best idea. However, research has shown that while people will definitely pay to experience pleasure, they are much more likely to pay good money to get something that relieves pain or solves their problems.
Another thing that many people worry about is going into a market where there is competition and other people selling products similar to what you might be thinking of creating.
You should remember that it’s very unlikely that you are going to discover some brand new untapped niche that has no competition. The good news is that competition is a very good sign that the niche you are considering is going to be profitable. In fact if you don’t see any competition (or very little competition) I would seriously consider passing on it, as it might be a sign that nobody is actually spending money in that niche.
Once you have found your hungry market you are going to allow the market to tell you what they desire from you as this will be what you use to base your product on.
Instead of making the classic mistake of creating a product and looking for a market for it, you will actually have found the market first and then create your product to provide the needs and desires of that market.
Can you see how this is a much more sensible way of doing things?
When you have identified your target market, spend some time thinking about who might be in that market. Are they older people, mostly women, teenagers, parents, sports fans, introverts, health conscious etc. Getting a good understanding of who makes up your particular hungry market will help with the targeting of your message in your content.
One of the things that can be really helpful when creating your product is to create an avatar of your ideal customer within the hungry market. If you have decided that your ideal customer is a woman in her mid 40s with teenage children then find a picture of someone who fits that description and stick it on the wall near where you work.
As you create your product you will be constantly reminded of who you are creating the product for and it can have a powerful subconscious effect on how you tailor what you create. You should always have your customer in mind while you are creating and constantly ask yourself how you can best help your customer to solve their problem or achieve their goal.
Good Markets To Consider
There are hundreds of markets to consider but if you want to find one where there are a huge supply of customers looking for products then you might want to consider something from within these mega niches.
- Health and fitness
- Weight loss
- Making money / Saving money
- Realtionships / Dating
- Personal Development
Now, as I just said, these are huge mega niches so you don’t want to create a product which covers the entire niche. You want to identify a much smaller and more targeted niche within the mega niche and also a particular prospect too. Remember if you try to sell to everybody, you will end up selling to nobody!
Lets pick out some examples within each mega niche. How about:
- Exercise plans for over 60’s
- How to lose weight for new mothers
- How to make money with affiliate marketing
- Dating tips for divorced men
- Stress management for middle managers
Don’t just pick a niche until you have identified that there is a hungry market within that niche. Do your research thoroughly and find out what problems they need answers to and then base your product on answering these questions.
I hope you are beginning to see the power and potential of what I am talking about here. Rather than trying to guess what people want from a product, if you do your research properly you will know what they want and the things that they will pay you to provide for them.
This will save you from the frustration of creating an undesirable product that people don’t buy.
In my next post I am going to talk more about creating a digital product and will give you a basic outline of the process. However, if you really want to get started and learn how to create your own products that sell, then Heidi and i have created the perfect guide for you.
Our book – also called The Digital Marketing Launchpad – goes into much more detail and shows you the exact process we use to research the markets for our products. It also shows how to create your products and how you can do almost everything with some amazingly powerful tools which are completely free.
Creating your product is great but then you will want to sell it too. In the book we also show you how you can set up a sales system for your product and then get it in front of thousands of people who are looking for exactly what you are offering.
To find out more just click this link: The Digital Marketing Launchpad Book
Creating your own products is actually much easier than you think and it can be a lot of fun too. There is also great satisfaction in knowing that you are creating something that will help others to solve a problem.
Until next time – start doing some research on what might be a good hungry market to create your own product for.
All the best