Finding out the profitability of a niche is one of the most important steps before launching your blog or starting your online business. This is one of those crucial steps in online entrepreneurship that many of the newbie internet marketers ignore so easily and carelessly without knowing its impact on their venture. If you don’t want your online business to crash and crumble down after you have invested in so much of energy and money into it, you cannot afford to miss this step.
Many online entrepreneurs are not even aware of this step or its importance and how it can seriously affect their online business if skipped. Niche profitability is so imperative that, it can cause your online business to make or break. Finding out the competition, needs and profitability of a niche are some of the crucial exercises that any blogger or online entrepreneur must perform in order to build a flourishing online venture.
Here I have discussed one of those effective techniques to quickly ensure the profitability of your targeted niche.
Creating a Dummy Sales Page
This is one of the smartest techniques to quickly and easily check your target niche’s profitability. In this technique, you will collect the details of a small section of your targeted audience from the niche by telling them the benefits of your product in advance before it’s launched.
This technique is divided in 4 easy to do steps.
In the first step you decide on the niche that you are going to enter before launching your blog or decide on the information product or service that you are going to offer to your targeted audience.
In the second step you need to create a basic sales page that highlights some or all of the benefits of your product that it can provide to your target audience along with other important details of your product and how your information product or service can solve some of their most daunting problems.
This is the most important part of the whole process. Here you will set up a subscription form to collect the names and email addresses of your prospects to let them know about the product launch in advance. You can offer a special discount price to your subscribers when the product is launched. As a bonus, you can also offer a free short report or any other freebie for your subscribers to improve the subscription rate and make the subscription process more attractive for them.
In this step you drive traffic to your dummy sales page by running a Pay-Per-Click Ad campaign for a short period. You can also publicize your sales page by providing a link to it on your email signature, forum signature or even tell your friends and colleagues through email or through discussion groups like LinkedIn or Facebook Page.
Now all you need to do is to wait and watch the response that you get from your ad campaign. And check the number of people who are eagerly signing up to your email list and downloading your free report after landing on your sales page. If you get a good number of sign ups to your email list then you can be sure that your product will be a big hit after its launch.
But on the other hand, if you get a colder response, and unable to grab the interests of your prospects to easily sign up to your list, then it will even harder to make them spend their hard earned money to purchase your product – after it’s launched. In simple words you just found out that your product will not be a profitable one.
You can also apply these techniques to understand the profitability of your blog before launching it.
It is also very effective to run a simple survey to ask your target audience what they want that will help you learn more about their needs, problems and requirements. This can avoid all guess work and help you create your product that appeals to your target audience.
I am sure you found these techniques easy and effective to test out your niche’s profitability much before you start working on your product. I will be posting insightful articles on blogging and internet marketing regularly on this blog, so don’t miss out. And please subscribe to its RSS feed to get instant updates when I publish.