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The 6 Simple Steps to Build a Highly Profitable Niche Business

 


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Many marketers focus on ‘making money’ rather than building a ‘real business’. By ‘making money', I mean things like bum marketing that aren't sustainable and that can't be grown without additional effort. It's important that you focus on growing a business now. A business selling products, with prospect lists, with buyer lists, with systems, and with the potential for growth and backend income.

In this article I'm going to reveal the simple steps you need to take to have your own profitable niche marketing business. Let's get going. . .

Step #1
Niche Identification & Research

As always, the first step is to identify your niche, or your market. The number one characteristic your market should have is that there are already people buying products. With your business you're going to be selling. Whether it be your own digital products, physical products, services, or someone elses. That's the way you make money so make sure the market you choose already has proven buyers.

Step #2
Product Creation

You've identified your market and hopefully you've researched the competition, potential partners, market trends, what your prospects want and all the rest. Now you can create your own product. I always recommend starting with a short, low priced report just to test the market and to build a list of buyers that you can profit from in the future.

One thing I will say on product creation is that the single most important thing is that you create quality. Competition is fierce online, and the only way you can stand out from the rest is by providing quality content for your prospects and buyers. Just take a look at the rise of Lee McIntyre in the last 6 months or so. Why has he become one of the most talked about internet marketers? Why has he been able to have 5 figure months after just a short time online? One reason - he provides QUALITY. Not only for his buyers, but also for his free subscribers.

Step #3
Copywriting

I've only recently understood the power of copywriting. Copywriting is not limited to your salespage. Copywriting involves your sales message, your emails, your articles, the title of your product. Every aspect of your business should do something to persuade your prospect to invest in your products.

I have one short report on the market in the “beauty" niche. This is a big, passionate market. 3 months ago I was getting 500 visitors per month and 3 (yes, THREE!) sales per month at $10. My salespage just didn't have that WOW factor. It was beautifully structured and read fluently, but it didn't grab attention, or persuade, or convince anyone why they should buy the product. Fast forward 3 months and after a little editing I'm now getting approximately 600 visitors per month and close to 35 sales. There's still room to grow, but that's a massive improvement. It's important to learn basic copywriting principles if you are to be successful with this business model.

Step #4
Traffic Generation

You have your salespage, now you need traffic. . . and buyers. Driving traffic can be done in many different ways. There are creative methods, and there are your regular run of the mill type methods. I prefer the traditonal article marketing, backlinks, joint ventures, SEO. I find this to bring the best quality of traffic and is the best long-term strategy.

Again, the focus is on quality. You need to write quality articles, get links from quality sites, JV's from quality partners. Everything about your business should exude quality.

Step #5
Backend Profits

The main profits from this business model will come from the backend. The short report should simply be used as a filter; to filter out the dead wood and the people who wouldn't spend money with you anyway. What you're left with are people that trust you, people that are able to (and comfortable) with buying products online, and - if you have provided quality - people that will buy from you again, and again, and AGAIN!

Here's how the process should work:

1) Prospect comes to your site, likes what she see's and buys your short report for $10.
2) Immediately after payment, she is redirected to the download page where she downloads her product and signs up for your list.
3) You now send her emails (perhaps 2 per week). Sometimes you can pitch affiliate products and other products you develop, but most of the time you send her top quality content. Look after your subscribers, and the rest will take care of itself. This subscriber could be on your list for the next ten years. She could spend thousands of dollars with you. You could have thousands of subscribers that do the same. Do you see the potential?

Step #6
Grow Your Operation

You've created one short report now. You're getting a lot of traffic, buyers and subscribers. Now it's time to grow your operation. Create more short reports and get more people into your funnel. Create longer products that you can sell for more money. Create physical products that you can sell for three figure prices. Host seminars and sell tickets for four figure prices. Sell your expertise by mentoring a few subscribers for five figure prices.

This is how you build a BUSINESS. Stop thinking small time with bum marketing and pay-per click affiliate marketing. That's great if you want a few hundred dollars a week, but that's not what you should be striving for.

James Penn is an experienced niche marketer who has developed and profitably marketed a library of niche info products and reports. To discover how to create an insane passive income online by creating tiny reports, visit http://www.shortreportprofits.com

James also runs a blog which details his trials and tribulations of being an internet marketer. He posts his tips, tricks, techniques and secrets that will help YOU to make money. Visit his blog at http://www.teenagemarketer.com

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