Want to create a product? Do this FIRST
See, once you "get into the groove" of crafting your sales letter/video....you know exactly how to create your product (member's area, pdf, videos, etc.) This is a formula that has proven itself to me on more than 1 occasion.
You definitely need to know your niche well before you can start writing a sales letter to them. You can do so by hanging out niche forums and reading posts with the most views/replies. Find out what makes them happy, and sad. Most importantly find out what they want....as in an end result.
For example, for the IM niche....one of the biggest "wants" or "end results" that internet marketers crave....is to be able to quit their job (due to income generated online to replace their job income). Take that "want" and run with it....
Maybe....you can create your whole sales page/product around that want...I remember back in my early days of IM a super popular ebook came out called "Dayjob Killer"...it was a bonanza! People were buying with their own clickbank id's, savvy affiliates were crafting bonuses if you bought through their link...the gravity was over 700 for a while...it was white hot!
(the sales page is still up after several years! dayjobkiller dot com)
Do you see what I mean?
The key is knowing how to "push buttons"....when you talk to internet marketers who are struggling...heck even if they are already successful...you automatically get their juices flowing when you start talking about (ie sales copy, emails, etc) getting them to the point where they can make enough money online to quit their job.
There are a ton of other "wants" that you can push buttons on....but being able to quit a job due to internet marketing income is HOOOJ for the IM crowd (you should know cuz you are one of them, as am I).
Now....of course you want to offer QUALITY products....I am not telling you to go learn how to "push buttons" in a niche...just to offer crappy products. People will stay with and buy more stuff from you down the road if you give them quality stuff.
I'll sum it up by saying this....learn a hot niche...learn the people....write a sales page that pushes their "buttons"...then deliver on what you promise them.
Matt