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I want to share with you some ideas on how to be successful in a crummy, low-dollar, saturated niche.
I’m going to answer this question for you and give you some thoughts and things to think about.
We’re going to dive right into it.
More about Saturated Niches
You might have a niche that you’re interested in getting into that’s extremely saturated. And these saturated niches can be profitable, but they also might be a low dollar.
I love the cooking niche, but I can say that these are very saturated niches. That’s because it’s easy to get into. Anybody could create recipes and recipes as you know are not copy write proof.
You could take recipes and republish them in cookbooks. This is one of the reasons why KFC is very protective of their crispy chicken recipes.
Simply, there’s no protection for trademarks or for recipes to reuse them. People would have just copy those things and create a new intro or outro in their book or their courses. And all of a sudden there’s not much you could do about it. There’s no protection.
It’s a low dollar niche. When people search for recipes, they’re looking for free things. They just want to look up the recipe and see what are the ingredients. They want to learn how to make something. And that’s it.
Sometimes you could buy a cooking book, but this might be $5. It could be a $25 item, but it’s not a lot.
How to Succeed in Saturated Niche?
The truth is that the cooking niche is very saturated, and there’s a ton of competition.
You need to create a lot of youtube videos, blog posts, and sell a lot of products to make a living in this area. That comes down to you thinking about the bigger picture.
Most people look at this in a one-sided spectrum. If I look at it from one view, I could look at it from the YouTube view where now I could create recipes and videos. And I make ads.
The next step from that would be writing some ebooks, and I make some money from selling those ebooks. But it’s very tough to sell those ebooks because people just want the recipes and they’re done with you.
Why would they buy your eBook versus another book? There’s so much competition that goes on. But the way that you can scale these things up and drive at home is to think bigger and more connected.
Think about more connection with your audience.
How do you get that deeper connection and deeper drive?
Well, it comes down to thinking about why they are looking for recipes. People that are just looking for basic recipes probably not going to get more involved with you beyond that.
People want to get more healthy, and want to read something about:
- healthy eating
- vegan planning
- about meal plan
- about strategies for busy people
- working out
- losing weight
And, all of a sudden, you have a targeted audience and segment that you can now cater a course and an additional product. It gets deeper and more connected to what they’re looking for.
One-on-one Coaching Session
You might offer one-on-one coaching by meal planning with someone instead of them having to pay these other health delivery services or food delivery services $20 per day for their food.
Well, you could meal plan for two weeks and show people how to make a meal plan. And how to get those things in operation. You might charge them $200 for that versus let’s say their annual spending for all these meals that come to their house. That could be $2,000-$5,000 a year, depending on the size of the family.
In this case, you’re spending maybe 1-2 hours of your time and $200-$400 rather than selling a ton of books to make up that money. You might cater to vegan people. Or maybe you’re targeting people about nutrition that are working out, bodybuilders.
You might have a session every month because they need consistency and repetition. It could be $200 session this month, $200 session next month, and then you meet again maybe three months down the road.
In that case, out of that lifetime customer for that year, you get $800 just on nutrition planning and consulting. That’s what I want you to think about is get deeper and more connected to your audience and customer.
Some of those niches are very tough to break into. And you can make 50 cookbooks, and you might not make any money that’s sustainable for you compared to just going out and getting a regular job. That’s because they’re so saturated, and it’s a low dollar niche. And people expect things for free.
On the other hand, if you start getting more connected with your audience, you might only have 20-50 customers. But because the price of your service can be very targeted and a lot higher, you’ll be able to make a sustainable living from that situation.
If you’re interested in some other niches, check our Freebies section at the Backstage Income website.
Maybe you’re trying to get into:
- YouTube space
- Pinterest space
- some affiliate programs
From our Backstage Income freebies section, you could download a ton of these great PDFs, checklists, and much more.
Here’re some of the great freebies:
- 125 YouTube niches that pay
- Clickbank affiliate niches
- Productivity hacks
- Local money-making strategies
Check that out if you’re trying to get started and trying to discover some niches in the space of YouTube or other areas.