Niche Marketing – How to Find a Niche
This article shows how to find the right niche.
Niche markets provide a product or service for a specific group of customers who have very specific needs. One of the biggest mistakes that new online business owners can make is ignoring the concept of niche marketing and focusing on big markets that appear to be big money makers.
There is simply too much competition in the big markets. Those who are new to the online business world don’t stand a chance of competing. With niche marketing, it’s a different story. Entrepreneurs can significantly increase their chances of success by focusing on specific niche markets.
By now, you’re probably wondering how to go about finding niche markets. Fortunately, it’s much easier than one would think. Let’s get started.
Step One: Open two Internet windows. Set one atwww.google.comand set the other atwww.inventory.overture.com.
Step Two: To find niche marketing opportunities, start doing a few searches in these search engines. Try basic products that you may be interested in selling, such as digital cameras, computer software, or Siamese cat toys. By entering products into these two search engines, you can find out the number of searches the products have per month, while determining how much competition exists in the market.
Step Three: Analyze your findings. The level of competition that can be found in the market determines niche markets. Remember though, some competition is good. Niche marketing only works if there is demand for the product. Though opinion varies when it comes to the numbers, in general, a word that has between 10,000 and 2,000,000 searches per month is considered an opportunity for niche marketing. Let’s see some examples:
(Example one: digital camera)
The term yielded 1,312,659 searches and 239,000,000 results pages. This is a big market with plenty of competition.
(Example two: computer software)
The term yielded 101,294 searches and 1,550,000,000 results pages. This is a big market with HUGE levels of competition.
(Example three: Siamese cat)
The term yielded 16,314 searches and 1,800,000 results pages. Niche marketing could work here! This has high search volume relative to competition.
Step Four: Choose your niche. Now that you have some niche markets to choose from, you can find the one that is the best fit for you. Afterwards, all that’s left to do is enjoy your niche marketing experience.