Find Your Niche - the Internet Marketer's Goldmine
If you haven't heard the word 'niche' being batted around by
Internet
Marketers then you haven't been listening. Finding a niche has
become
the antidote to competing in overly saturated online markets.
What is a niche?
According to Merriam-Webster's Online Dictionary a niche is
described
as "a place, employment, status, or activity for which a person
or
thing is best fitted... a specialized market".
Have you noticed that despite the closing of many businesses in
these
harsh economic times, the local hobby train store is still
around? That
the 'hole-in-the-wall' eatery is thriving? Or that trends such
as
scrapbooking can start with a bang and still close within a year
when
four similar businesses start up in the same area?
The online business world reflects the same trends as
experienced in
the offline world - often with faster turnover and startup
rates. Those
who promote a product or site that targets a small, select
audience can
tap into a market that is otherwise not being served. Despite
the
limitations of the client base, the targeted nature of the
business
creates a devoted and active market - the aim of any business.
HOW DO I FIND A NICHE?
Finding a niche requires diligent research. Whether you have
access to
software that harvests and sorts information or you take a
manual
approach you must first start with ideas.
With a pen and paper (or computer, if that's more comfortable)
brainstorm a list of businesses, products and industries. Create
a list
of keywords and phrases you think would be used by individuals
looking
for these items online.
Use a software program such as Wordtracker or a free resource
such as
the Overture Keyword Selector Tool to find keywords for your
niche that
have a high amount of traffic.
Although a program like Wordtracker makes it easy to find
details such
as how many sites compete for that market, you can also do your
own
research.
Concentrate your attention on question phrases such as "how do
I..." or
"where can I...". These questions will clue you into potential
markets
that need servicing.
Next, look in Google Answers. Type one of your keywords into the
search
area. What questions are being asked and how much are people
willing to
pay for answers? If you find a group of keywords with a high
number of
questions then enter these words in your browser's search
engine.
What sites come up? Do they provide answers or solutions to the
problem? How are they making money? Can you see an opportunity
to
service these individuals?
Finding a niche can open the door to a profitable online
business.
Research the market and be certain that your product or service
is
valuable to this group. Find forums or groups that target this
audience
and pay close attention to their concerns.
If you can help these people you WILL make money. The best of
both
worlds!