This YouTube video (Why niching down allows you to charge more - pt.1) by Eric Deeran explains how niching—targeting a specific market and method—lets video sellers charge higher prices. The speaker contrasts general video services (~$500) with music videos for independent artists (~$1,000–$2,000), noting the latter market has limited purchasing power.
Now, I want to illustrate a point with why niching down and finding a specific market and having a specific method is so, so, so important. And I'm going to demonstrate it here. You sell video, so you probably could charge around $500 for that. Now, let's say you're selling a music video to artists. You probably could charge 1,000 to $2,000 for that. Now, it's video for a person, a specific type of market. But that market doesn't have a lot of purchasing power because they're typically independent artists who don't have to spend on video content, right?
