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Digg it UP - In Depth Analysis of a Successful Niche Product
Many small business owners do not regularly measure the results of their business. I have heard many small business owners say that they wait until their accountant comes in to tell them how their doing. Or perhaps they look at revenue and payroll each month then place the report in the drawer. As long as there is money in the checking account or available credit on their credit line, they are content to continue doing business in the same way they always have. While there are many lucrative businesses that enjoy the luxury of not having to worry about making more money, most of us want to obtain the maximum financial benefit possible from our hard work.Imagine you are at a baseball game and the scoreboard is not working. Imagine further that neither of the managers is keeping track
Another thing Frank could do is have a subscription box on his site to capture emails and then build credibility with visitors who don't buy on the first visit, and in the case study above, that's 95% of people!
Having listened to Frank talk on a bunch of internet marketing teleseminars I know that his aim is not to fiddle around too much with any one site. His method is called the "Underachiever Method". His aim is t
If you’re new to the world of Internet Marketing (IM), chances are you’ve joined in order to make you’re life financially better. Most likely you’ve been attracted through an information product offered on the internet and will be very excited at the possibility of making sums of money that will be yours and not paid to your employer. This can be hindered by a problem which makes no sense but happens to so many IM’s – The failure to take action.Taking action is the single biggest step you could take that will increase your chance of success in this business. It’s not money, privilege or intellect that separates the average worker from the Donald Trumps or Bill Gates of this world – it’s taking action. Ask any wealthy person what got them there and in one form or another they wil
There are a few niche information products targeting pet owners. Creating a product for pet owners is a very sound idea. People love their pets more than anything else they own.
Frank Kern created a product for parrot owners that is making him $20,000 a year on autopilot. A search for "parrots" in the Overture inventory tool at http://inventory.overture.com returned 88,000 results. That means 88,000 people searched for that term in February 2004.
Let's see how Frank is making money on autopilot with his product. By typing "parrots" without the quotes into Google's search box, I see that on the right side of the results page, Frank's parrot site is listed in the number one position.
It's very likely that Frank pays only the minimum of five cents per click with his Adwords campaign because there are only three other ads on that page. Let's say that Frank gets two percent of people who search for "parrots" to click on his ad.
He probably gets more than that since it's a very good ad. The wording of the ad hasn't changed for weeks so it must work, I've checked.
At two percent click through rate (ctr) that means 1,760 people visit his parrot site. If just five percent of people order Frank's product at $37.77, he's making $2898.72 per month. That's really an exact figure and I'll show you how I came up with it.
Frank uses Clickbank as his payment processor. They charge $1 + 7.5% for each transaction, that means out of $37.77, Frank gets $33.94.
Five percent of people ordered so that's 88 orders. 88 x $33.94 = $2986.72 Subtract the cost of pay per click advertising of $88 and that leaves Frank $2898.72 for the month. Multiply that by 12 months and Frank makes $34,784.64 a year. That's a nice income from a one page website using one source of advertising don't you think? Frank could spend an hour a week to monitor his Google ads and that's all the work he has to do for his site.
Frank could probably double his income by making a few changes to his business. Since he doesn't run an affiliate program, he could switch his payment processor to one that takes a lower percentage of his earnings.
Frank could also raise his prices. If he studies his market of parrot owners he'll probably figure out how much they spend on their parrots. Parrots aren't cheap pets. Also, pet owners WILL spend a lot of money on their pets. People send their dogs to obedience school, grooming services, and buy them all sorts of pricey things.
All Frank has to do is send his list of customers a survey asking them how much the information that they bought is worth to them. He could raise his price for the product or create a version 2 and sell more to his existing customers. He could also sell parrot supplies to his existing customers.
Another thing Frank could do is have a subscription box on his site to capture emails and then build credibility with visitors who don't buy on the first visit, and in the case study above, that's 95% of people!
Having listened to Frank talk on a bunch of internet marketing teleseminars I know that his aim is not to fiddle around too much with any one site. His method is called the "Underachiever Method". His aim is to
Many business owners agree that starting a small business will involve the personal finances of the owner, even though the business may be formally regarded as separate entities. This is probably due to the fact that the business owner may be likely to lose his source of income during the initial operations period, especially during the first 3 to 6 months. With this, adequate planning, budgeting and saving should be done by the business owner prior to starting the business so as to have a pool of funds to support personal expenses.One of the first steps to do this would be to track your monthly expenses on a daily basis in order to adequately determine your actual personal costs. Be sure to include buffers for emergency or surprise expenses. Once you have a clear idea where your mo
Let's see how Frank is making money on autopilot with his product. By typing "parrots" without the quotes into Google's search box, I see that on the right side of the results page, Frank's parrot site is listed in the number one position.
It's very likely that Frank pays only the minimum of five cents per click with his Adwords campaign because there are only three other ads on that page. Let's say that Frank gets two percent of people who search for "parrots" to click on his ad.
He probably gets more than that since it's a very good ad. The wording of the ad hasn't changed for weeks so it must work, I've checked.
At two percent click through rate (ctr) that means 1,760 people visit his parrot site. If just five percent of people order Frank's product at $37.77, he's making $2898.72 per month. That's really an exact figure and I'll show you how I came up with it.
Frank uses Clickbank as his payment processor. They charge $1 + 7.5% for each transaction, that means out of $37.77, Frank gets $33.94.
Five percent of people ordered so that's 88 orders. 88 x $33.94 = $2986.72 Subtract the cost of pay per click advertising of $88 and that leaves Frank $2898.72 for the month. Multiply that by 12 months and Frank makes $34,784.64 a year. That's a nice income from a one page website using one source of advertising don't you think? Frank could spend an hour a week to monitor his Google ads and that's all the work he has to do for his site.
Frank could probably double his income by making a few changes to his business. Since he doesn't run an affiliate program, he could switch his payment processor to one that takes a lower percentage of his earnings.
Frank could also raise his prices. If he studies his market of parrot owners he'll probably figure out how much they spend on their parrots. Parrots aren't cheap pets. Also, pet owners WILL spend a lot of money on their pets. People send their dogs to obedience school, grooming services, and buy them all sorts of pricey things.
All Frank has to do is send his list of customers a survey asking them how much the information that they bought is worth to them. He could raise his price for the product or create a version 2 and sell more to his existing customers. He could also sell parrot supplies to his existing customers.
Another thing Frank could do is have a subscription box on his site to capture emails and then build credibility with visitors who don't buy on the first visit, and in the case study above, that's 95% of people!
Having listened to Frank talk on a bunch of internet marketing teleseminars I know that his aim is not to fiddle around too much with any one site. His method is called the "Underachiever Method". His aim is t
I am sure you have heard of people losing lots of money in their online business or internet programs, and people who are making a 6 figure income online. It's not a uncommon for you to earn money online now.Here are 3 quick and easy ways that can get yourself going and start making yourself fat juicy paychecks month after month.First, the biggest mistake that most people did when starting their own online business is to create their own product. Product creation takes up precious time and money, you need to undergo product development and product testing. Its difficult to do so if you do not have the right support.Instead of creating a product yourself, look for a product that you are interested which it isn't your product, something that is relevant to your market. A
Frank uses Clickbank as his payment processor. They charge $1 + 7.5% for each transaction, that means out of $37.77, Frank gets $33.94.
Five percent of people ordered so that's 88 orders. 88 x $33.94 = $2986.72 Subtract the cost of pay per click advertising of $88 and that leaves Frank $2898.72 for the month. Multiply that by 12 months and Frank makes $34,784.64 a year. That's a nice income from a one page website using one source of advertising don't you think? Frank could spend an hour a week to monitor his Google ads and that's all the work he has to do for his site.
Frank could probably double his income by making a few changes to his business. Since he doesn't run an affiliate program, he could switch his payment processor to one that takes a lower percentage of his earnings.
Frank could also raise his prices. If he studies his market of parrot owners he'll probably figure out how much they spend on their parrots. Parrots aren't cheap pets. Also, pet owners WILL spend a lot of money on their pets. People send their dogs to obedience school, grooming services, and buy them all sorts of pricey things.
All Frank has to do is send his list of customers a survey asking them how much the information that they bought is worth to them. He could raise his price for the product or create a version 2 and sell more to his existing customers. He could also sell parrot supplies to his existing customers.
Another thing Frank could do is have a subscription box on his site to capture emails and then build credibility with visitors who don't buy on the first visit, and in the case study above, that's 95% of people!
Having listened to Frank talk on a bunch of internet marketing teleseminars I know that his aim is not to fiddle around too much with any one site. His method is called the "Underachiever Method". His aim is t
What does it take to become a successful Affiliate Marketer? What are the ingredients of an affiliate marketing success story? Is there a shortcut to Affiliate Marketing glory? All these questions play around in the minds of affiliate marketers who want to make it big in this business. Although affiliate marketing is touted as one of the easiest and most effective ways to earn money online, it is not as easy as it sounds. The wise affiliate marketer plans every action and executes it the best way he can. Smart marketer should also maximize the potential to earn by utilizing the right tools necessary for a successful Affiliate Marketing business.More and More people are lured into affiliate marketing and you might be one of them. Indeed, affiliate marketing is one of the most effec
Frank could probably double his income by making a few changes to his business. Since he doesn't run an affiliate program, he could switch his payment processor to one that takes a lower percentage of his earnings.
Frank could also raise his prices. If he studies his market of parrot owners he'll probably figure out how much they spend on their parrots. Parrots aren't cheap pets. Also, pet owners WILL spend a lot of money on their pets. People send their dogs to obedience school, grooming services, and buy them all sorts of pricey things.
All Frank has to do is send his list of customers a survey asking them how much the information that they bought is worth to them. He could raise his price for the product or create a version 2 and sell more to his existing customers. He could also sell parrot supplies to his existing customers.
Another thing Frank could do is have a subscription box on his site to capture emails and then build credibility with visitors who don't buy on the first visit, and in the case study above, that's 95% of people!
Having listened to Frank talk on a bunch of internet marketing teleseminars I know that his aim is not to fiddle around too much with any one site. His method is called the "Underachiever Method". His aim is t
In this society, business corporations sponsor everything from car and bike races; soccer; football; basketball; golf; tennis; dusting; bed-making; shoveling smoke; watching paint dry...you name it! There are corporate spokes-people for everything under the sun such as weight-loss products; soft drinks; beer; fast food; slow food; real slow food for Seniors; auto parts...you name it. Whenever there's a buck to be made, there's a corporate sponsor near-by! Put a corporate logo on a pile of manure, and see what happens! You'll sell it before you can get a shovel.I was dis-connected from the Internet and my website for 2 1/2 years, because of illness and hardship, so I'm still a novice in the writing and website-building business. But, the Lord has blessed me, and I'm back to star
Another thing Frank could do is have a subscription box on his site to capture emails and then build credibility with visitors who don't buy on the first visit, and in the case study above, that's 95% of people!
Having listened to Frank talk on a bunch of internet marketing teleseminars I know that his aim is not to fiddle around too much with any one site. His method is called the "Underachiever Method". His aim is to create 50 sites that generate money such as the parrot site. What a good idea. 50 streams of income that run on autopilot.
That got me to think. If he can create 50 sites like that, for me to create just one site is good enough. I started to research my own niches. I asked myself what other pets could people be interested in that would create that kind of income?
I searched for the following terms and found how many people searched for those terms.
Rabbits - 139,995 Humming Birds - 110,692 Ferrets - 76,820 Tropical Fish - 155,579 Hunting Dog - 30,725
Woh! Excellent potential - bling bling. I searched on Google and didn't find anyone selling information products on rabbits or hunting dogs. I did find one on ferrets and tropical fish. That shouldn't stop me from creating a product on ferrets and tropical fish. There's always room for improvement or joint ventures.
I looked at "hunting dog" more closely and saw that some related keywords are:
"rabbit hunting dog" "hog hunting dog" "squirrel hunting dog" "deer hunting dog" and a lot more.
There are so many niches yet untapped it's unbelievable. I think I'm going to create an information product for hunters and use all those little niches for the chapters. I don't mind revealing all this to you because I've got a bag full of niches that I've researched.
One method I use to find niches is to type in just a single keyword into the Overture tool and look at all the related keyword phrases. Those related keyword phrases are your niche markets.
If you're going to create a niche product, set up a Google campaign to survey the market to see the potential success. Once you're certain it's going to be successful, go to a bookstore like Barnes and Noble and look up a book or magazine about your niche. If there isn't a book about your niche then you really should look for another niche.
Look through the book to see what kind of content it contains. Now go to a freelance site such at http://www.elance.com and hire freelancers to write your ebook for you.
Then set up a one page website, hook it up to a payment processor such as Clickbank and then send some traffic to the site. This should take you no more than a month working part-time or two weeks working full-time.
Good luck!
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Copyright 2004 Gary Huynh
Gary Huynh is an independent internet marketing consultant.
He works full time researching and implementing new streams of profit for his existing business and for clients. View his Niche Marketing Power Zone at
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