Wednesday, February 21, 2018

Picking A Topic For Your How-To Video? 3 Steps To Targeting A Profitable Niche

Profitable Niches

Researching a profitable niche topic is a key step in your success.

Choosing the right topic to produce your special interest, educational or how-to video is an essential element to being profitable in this industry. I’ve outlined 3 foundational steps you must do before you plan your production.

Whatever you do, do NOT start planning your production until you’ve DONE SOME RESEARCH. I can’t stress this enough. You are going to be spending a lot of time and manpower in your video production and marketing efforts and speaking from experience, nothing is more discouraging than having your dream production not sell.

Research Your Idea

First you need to research your idea. If you already have an idea in mind, great, you can go to the next step. If you don’t have an idea, I recommend taking out a pen and paper and start brainstorming. Ask yourself questions such as what are your hobbies, your interests? What do you know about your area of expertise? What problems do you know how to solve? Do people ask you if you know of a video on a certain subject? These are just a partial list of questions to ask yourself. The key here is to get your creative juices flowing. Make sure you write all of these down.

Find Your Target Market

Next, brainstorm every person, group, business, organization that you think would want to watch and buy this DVD. Be specific here. For example, if you wrote down that you know how to keep your plants from getting eaten by deer, write down all the people and groups that struggle with that problem you know how to solve, like nurseries, gardeners, etc. These will be your target markets. The point of this exercise is to determine if you can identify and reach your potential ideal customers.

Research Your Target Market

After that, research each target market. Then research specific niches within that market. Find websites, publications, newspapers, etc. already marketing to each of your potential target markets. Read what they offer. Write these down. You want to find possible competitors, joint venture partners and resources where you can market to in the future. Find out if the market is saturated already with similar products. You need to find out if there are already competing titles out there. Better to know now, before you invest the time and expense to produce your video.

Talk with members of this group – ideally, face-to-face, if possible. Ask them questions about their problems , interests, passions – what do they want? Listen for what they complain about because these will define what products you offer. Take complete notes. NOTE: your goal at this point is to listen and not try to sell to them…that will come later.

Then choose one target market and go further and choose the one niche within that market that you will be able to deal with.

Resist the urge to have more than one target market…at first. Once you’ve successfully sold to one group and your systems are in place, THEN you can branch out and service more related target markets. But in the beginning, make your life easy – stick with one niche. Picture a dartboard. You want to start at the bulls-eye and work your way out. The bulls-eye also happens to be where the highest points, i.e., profits, are as well.

Provide a title that people want and will pay money for in order to be successful. You want to become a big fish in a small, accessible pond – not a small fish in a big, crowded pond. The more you refine this, the better, especially if you plan on selling and marketing your videos yourself.

Next post I’ll continue my thread on producing and selling special interest videos and address the question, “what type of special interest video should I produce?” Sign up for our RSS feed to get the next post in this series!

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