“…Okay. Let’s bring ourselves right up to speed, just look at the fundamentals of the business model, just for second. The fundamentals.
I get all these people come to me… in fact I had a guy sent me an email this week saying, “I’ve got this great product…. it’s taken me three years to develop…… now who can I sell it to?” I said “What you need is a copy of the Cash On Demand course”…. Because you need to learn that the first thing you look for is a hungry market, okay. You have to find a hungry market. If you’re new to Cash On Demand, write that down. You need to find a hungry market. There is no point developing a product if you don’t know who you’re going to sell it to.
There are a number of ways that you can identify a hungry market. If you…. just jot that website down….. if you go to Andrew-Reynolds.com/research……. Literally this week I’ve had the techies put a nice little page there. It’s a brand new tool. I’m hoping to get time tomorrow to go through with you and show you how it works. It’s a very simple little tool where you can put in the words and it will give you an estimate of the number of people that are searching online on all the search engines on the internet every single day.
Would that be a great tool to find out about hungry markets? So for example if you were to find out how many people search on the words….oh, I don’t know…. say ‘diet’. You’d put in the word diet and it will say…. based on the figures at the beginning of this month approximately 526,000 people per day are searching on terms containing the word diet.
Would that help you to discover hungry markets? Yeah. That is just a tool; you’re free to use it. I have put it up on the Andrew Reynolds website.
A very simple way that I started in this business looking for hungry markets, though, you don’t have to do a lot of complicated research. I frequent Borders Bookstore in Oxford Street in London. I think there’s actually one in Brighton as well. Borders Bookstore. Or your local book store, if you go to the local book store…I mean Borders I like particularly because they’ve got this great magazine section. Borders have this huge great magazine section….they have a coffee shop, you can take the magazines. You can sit in the coffee shop, you can through all the stuff – it’s fantastic.
I spend hours in the magazine section of Borders. Because I’m looking on the shelves in Borders bookstore for lots of magazines on the same subject. Because you can be sure, with Oxford Street rent and rate, if Borders Bookstore is stocking a magazine on their shelves, it’s because it’s selling. It’s because it’s making them money. So if it’s a niche market publication that’s making them money, that means there is a hungry market for that information. Does that make sense?
So, for example, fitness magazines. I found whole sections of them on the topic of fitness. Fitness magazines. That’s a little hungry crowd of people. People interested in information on fitness. Massage magazines. I found a section on massage. Magazines exist just on the topic of massage. That’s a niche, niche market, and that’s a hungry market. These people are hungry for information on massage.
Diet and fitness. There are loads and loads of these things. I’m getting in trouble with my girlfriend actually because I keep taking these bloody big bags full of magazines and I’m saying that “Darling, honestly, it’s for research purposes only.” You know?
Fitness, diet. Natural health. Huge great market. Hungry market for products on health.
As the baby boomers get older and older we all start, you know, our bits start creaking, don’t they? We all want to learn about health. Health magazines. All these little subgroups, these are all in sections in the bookstores.
Yoga magazines, I had no idea about this stuff. Yoga magazines. There are magazines on yoga. Little, niche, hungry markets. That’s where we make our money as Cash On Demand marketers.
See you’ve got all these little niche publications all in the Borders bookstores and the WH Smiths, all making money, because otherwise they wouldn’t be on the shelves. There are all these little hungry markets out there. Fantastic! We’ve done number one. We’ve identified a hungry market. What can we sell them? If you’ve read your Cash On Demand you’ll know that there are just three types of products……
The above is an extract from a live presentation to Cash On Demand students by Award winning businessman Andrew Reynolds at the Entrepreneurs Bootcamp
For the next in this series of articles, see the three types of products sold by Cash On Demand marketers.