Niche Marketing – The Easiest Way to Finding a Profitiable Niche
There is one absolutely primary question that any new entrepreneur seeking to establish a highly targeted online business must ask. It’s easy to be carried along by your own enthusiasm. Maybe you already have an idea for selling something you’re excited about. But do you have good reason to believe that you can provide it and make a profit? No profit, no business, after all.
How can you make sure from the start that you are entering into an area where there is real potential for earning money? With the incredible growth of niche marketing in recent years, it’s not as easy as it once was to find online business opportunities that are not highly saturated already.
Your Energy And Possibly Money
You need some methods you can use to research this question and avoid investing your energy and possibly money in a business that will never rise above the static. I have some pretty simple steps you can take to test your ideas and find new ones.
Keep in mind, you don’t necessarily want a business where there are no competitors to deal with. That can be a sign that there is too little demand or potential profit for that area to be a good investment.
Take some topic that interests you where you might have some ideas for development or expertise to offer. Find the places online where this topic is being discussed, where people bring their questions and talk about their concerns. Look for areas where there seem to be more questions than answers.
For example, when you are exploring forums and discussion groups related to pets, perhaps a question keeps popping upâ€¦like how to deal with a dog’s annoying barking? This could be a great starting point for further exploration. Try come up with a few ways of phrasing this issue to gather more informationâ€“”stop dog barking” or “dealing with nuisance dog.”
Now start searching using these expressions. Google is a good starting place-and they offer tips for formatting your search for best results.
Searching on Google
Searching on Google Products in particular will give you some idea of how many products and sellers are already out there ahead of you to deal with this need. If your searches give you too many returnsâ€¦well that may be an over-saturated market. Too much competition.
Google can also tell you how many searches have been made using your sample topic or idea. This can help you get some sense of the size of the audience for your idea. You can find this no-cost research tool by searching for “adwords keyword tool.”
Enter your sample search phrases and see how many people seem to be looking for information or help in this area. If there are not at least four or five hundred, the potential market may be too small to be worthwhile.
As it happens, there may be way too much competition out there for stopping dogs from barking-more than 26,000 hits on Google Products. You might try “flushable cat litter” instead!
Once you have hit upon a marketable interest that has the right balance of supply and demand, you can start looking for a product or service you can provide. Try a new search that combines some version of your chosen search phrase with “affiliate program.” This can lead you to suppliers in that niche who are interested in partnering with someone like you to market their product.
The Internet is not just a great place to establish a niche marketing business. It offers a wealth of information that can help you find the essential ideas, identify your specialized niche, and define the critical supply and demand issues to make your small enterprise successful.
By Eric Fernandes