While it’s a good idea to focus on just one niche when you are starting out, there is a way for you to use the same product and make money with it in multiple niches. This process is known as “Retargeting”. In this article I am going to explain how that works.
You want to have a ‘universal’ product that appeals to a broad spectrum of users. For example, it might be a plugin for business websites, a course on marketing, a product on how to make business-to-customer videos, a grant writing course and so forth.
In this example lets consider a course on building web sites for people who don’t have a clue how to do it.
Now, I know your first thought is probably the same one I had: Why would anyone PAY for a course on how to build websites, when there is plenty of free information out there that teaches you how to do it?
Maybe people are lazy and don’t want to do the research themselves. Or they don’t know the information is available for free.
Or more likely, they don’t know WHICH information to follow. They can look at 5 different search results and get 5 different answers. Which one should they use? What’s the best one? How do they avoid mistakes? And so forth.
If you can simplify and clarify things for them, they’ll gladly pay you.
Plus, while most people have a good idea of how to go about building a website, they still feel better if an ‘expert’ shows them step by step how to do it.
The added lesson here is this: If you’re afraid to create or launch a product because the information is already available online for free, stop worrying. Most information products contain a ton of info that’s readily available for free. It’s just the nature of the business.
Let’s say you’ve created a course on how to build a business-to-customer type of website. You could use some PLR and add your own stuff into the mix as well. Let’s assume that it’s a good course that delivers on its promises.
But here’s the twist: You market this course to all different niches.
For example, you could sell this course to dog groomers, accountants, lawyers, plumbers, cleaning services, restaurants and more.
You can market the course online and offline, by advertising to each niche individually. Naturally, you target small business owners who aren’t tech savvy and just want to develop their online presence themselves.
And here’s a really interesting tidbit – you charge whatever your market will bear. A dentist or lawyer can afford to pay more than a gardener for example. You can determine the correct price point for each niche by continuing to raise prices until your return on investment decreases.
Notice you’re tracking ROI and not conversion rates. A lower conversion rate at a higher price point can mean more profits than a higher conversion rate at a lower price point.
And while you might think you should tailor the course to each niche, you don’t need to bother. It’s the exact same course. The only thing to change is the advertising that you use.
For example, you might advertise, “Plumbers, create your own website using free online tools in just 24 hours.” And then just simply replace the word, “Plumbers” with whatever profession you’re targeting.
Your ultimate plan is to target a hundred different professions and businesses. And while each buyer will think the product is specifically tailored to their niche, it isn’t.
Is this ethical?
Since you never promise that there is any information that is specifically for one profession or another, I think it’s fine. Of course, you could make alterations to your own course to make it look like it’s more customized. You could spend a bit of time adding some specific information for each profession.
And your course doesn’t have to be on building websites – it could be on anything that businesses need, like getting new customers or automating some aspect of their business, like list building.
Double (or more) Your Income
One more thing – you could make a second stream of income by selling a done-for-you service, too.
For those who buy your course and don’t want to put in the work of building their own website, you hire a team of outsourcers to build the site for them. You could discount the cost of the website by however much they paid for the course, so the course is then ‘free.’
People are essentially lazy and will pay you good money to take away the hassle and do things for them. You can get outsourcers on places like fiverr.com, upwork.com or guru.com to do the work for you. Set the price right for the customer and you too could be making good money for very little work, other than setting the whole thing up.