What Is A Niche Market?
How to find a niche market, the easiest answer to this is, “What isn’t Niche Marketing? You see, a niche market exists everywhere you look in the real world, you see a niche market everyday of your life at the beginning of each new day. The problem is that you have never really been questioned about it until you ventured into the world of internet marketing.
So, how to find a niche market or better yet, what is a Niche Market? Basically, a niche market is the split of a specific product for a given market. And so, the niche market clearly specifies what product or services will satisfy a specific smaller market area. In plain English, it simply means that a niche market would be a market within a market that targets a certain area of interest, hobby, or need and can even be separated by the age and gender of individuals.
While many internet marketers might give a more elaborate definition of what a niche market is, a simple and most common answer is; “Find a specific need and fill it”, that's one of the best ways to make money online.
Let’s Look At Some Examples Of A Niche Market
To begin with, let’s say for example that you wanted to promote a product for weight loss. Now, in the online business world, the weight loss market is a very large market to consider promoting in. Unless your existing website or blog already receives a lot of traffic or you have a large amount of money for advertising, I personally would recommend not competing in the general weight loss market.
So, instead of promoting to the larger market that is very competitive, why not promote in one of the smaller niche markets where the competition is lower. Here is the example of the niche market for weight loss:
- Lose weight by drinking tea
- Healthy weight loss from drinking tea
- Lose 10 pounds without dieting
- Eat normally and still lose weight
- Over 40 and over weight? Try this!
- Fat loss made simple
- Fat loss for teens
- Burn fat quickly without dieting
- Build muscle and lose weight
- Get six pack abs and burn fat easily
- Easy weight loss for women
- Lose the love handles and gain six pack abs
- Weight loss tips for kids
Are you starting to see how you break up the larger more popular market and break it down into smaller niche markets? This is also the area where you would also key on the gender and age of individuals to dig deeper into the specific niche market.
Some Points To Consider When Looking For A Niche
First, write down what you might be good at, what skills you have? Are you a gamer or computer geek? What interests do you have outside of daily work? Do you have a favorite topic that you like to read about? What experiences have you gone through that would also show you as an authority on a specific theme or topic? This is an important phase that should not be overlooked when searching for a niche market to compete in. So, go ahead and write these things down as you will find out that there is a niche market for them and ones that you can profit from.
Consider The Things That You Like To Do
Do not make the mistake of thinking about internet business opportunities as a niche market. The best ways to make money online are, believe it or not, outside of the "make money now" internet business opportunity that so many new marketers get hung up with. Consider the things that you like to do now, even if you can’t make any money from them, would you still like doing them. If you are like me, of course you would. Do you have any hobbies that are literally a part of your life? If you do, than this is definitely an area of interest that can be made profitable with a niche market.
Now, Determine The Need
Once you have a list of your interests, the things that you have knowledge of or are good at, and your hobbies, it is now time to check the market condition for them. Let’s say that you have a hobby such as model building or some craft work. Are you like others that are always looking for certain supplies for you particular hobby? Of course you are, and so are others with the same interests. This segment of the market or the “Niche Market” for that hobby is something that you can capitalize on with your online business.
Follow Your Passion
If you have not heard this already, you will, especially with affiliate marketing business. “Follow Your Passion And You Will Find Success”. While some internet marketers might disagree, I believe that if you are just starting out with an online or affiliate marketing business, you should follow your passion.
If you are an affiliate marketer, this simply means that you would promote products or services that you like, have an interest in, or have some knowledge about. This will make your online research, efforts, and attention to detail much easier for you in the beginning since you have an awareness of the product. As you become more comfortable with affiliate marketing you can always add additional products to promote in other niche markets.
Just remember, in order for you to find ways to make money online with internet marketing, you need to start out small first with a niche market and than gradually take on the larger markets once you start learning more and making money.
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