If you are one of those who want to launch a niche product but has doubts how, consider the following:
1.Determining what you really want to sell, something that you can be comfortable selling, is the first step at the creation of a niche product.
2.If you are still unsure what niche product to create, make a list of what you have in mind. The more the better. You are the sole authority in this. You are the only one who really knows what you want.
It will also help that in determining your long list, try factoring the following:
a.Your hobbies and interests,
b.Improving on an existing product
c.Solving a problem
d.Combination of improvement of ideas
e.Conducting a different approach in the marketing of an existing product.
3.Evaluate the list that you have created on the basis of the products purpose and the target market of your niche product.
4.Focus on your purpose. Knowing your niche product uses and benefits become a basis for planning. Determining the purpose of the product is vital in niche product creation. Make it clear and specific. Adopting an honest straightforward look can make the next action step fall easily into place.
5.Identify your target market. Expensive pitfalls had been created by generic approaches, the variety of goods available already in the market will daunt anyone trying to make an entrance in to the market.
Make precision your keyword. Target the market bracket that you think will help you maximize your sales. Segments for consideration will be; Gender, age, education, status, etc. This way, you create brand that is focused on certain segments of the market and caters to particular needs that the market readily identifies itself with.
6.Conduct targeted niche product short list. Remember having to write a long list on products that you would want to create? This time, based on the purpose and the segment of the market that you consider targeting, eliminate all products that you previously have in mind, everything that does not fall into servicing the particular market segment that you have decided on.
7.Consider trimming the list further. The niche product that should result must be very focused on the target market that you want to attract. The result then becomes a shortened short list.
8.From the short list created consider the product that could represent your competitive advantage. Your edge. Something that carries leverage. Without a sustainable advantage, your product might just not find enough strength to remain in the market.
9.Check for copyright. If the product you have in mind is an improvement of an existing product, it would not be wise to infringe on another copyright aside from being expensive in the long run and damaging to you reputation. All products that have expired are posted on the public domain. Search engines can lead you to this.
10.Now that you have an idea of a product, you can already focus on attracting traffic to your product. Create a domain name and its message. These too are very vital. The domain and its content are the first tangible things that can speak for you. These are the things that well sell your products aside from you.
The name therefore must be easy to remember and memorize.
The content should be attractive enough to attract traffic to your site