How to Assess the Willingness to Pay in a Niche Market

Niche markets can feel passionate but be monetarily poor. DemandSonar’s “Willingness-to-Pay Score” (WTP) checks three signals: presence of paid alternatives, average order value in adjacent markets, and “money language” in forums (e.g., “worth it,” “splurge,” “rip-off”). “Crochet patterns” had high passion but a WTP Score of 34, pattern sellers rarely charged more than $5, and price complaints were frequent. The platform suggested moving to “crochet kits with video courses,” which had a WTP Score of 72, commanding $39, $59 price points. Same craft, different business model. Passion without WTP is a hobby; with WTP, it’s a business. [Assess willingness to pay →]