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 make is ignoring the concept of niche
marketing and focusing on big markets that appear to be big
moneymakers.
While this can be quite tempting, 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 against companies who
have already cornered the market.
With niche marketing, it is a different story. Entrepreneurs can
significantly increase their chances of success by focusing on specific
niche markets. You determine a need and develop products and services
that will satisfy that need.
Niche marketing also provides you with an opportunity to market to
a very specific audience. By targeting your audience, you can easily
tailor advertising and promotional campaigns that are almost guaranteed
to work.
By now, you're probably wondering how to go about finding niche
markets. Fortunately, it's much easier than one would think. The key is
to find a group large enough to produce a reasonable volume of
business, but small enough to be looked over by your competition.
The following steps will teach you the ins and outs of finding a niche market.
Step One
The first step involves research and may take some time on your
part. If you need to, break these research sessions up over a span of a
few days. This will ensure that you have ample time to properly
research potential niche markets.
To start, open two Internet windows. Set one at www.google.com and set the other at http://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.
y entering products into these two search engines, you can find out
the number of searches the products have per month and determine how
much competition exists in the market. Google and similar search
engines will tell you how many results pages are out there for a
specific search term, allowing you to gauge the extent of your
competition, and http://inventory.overture.com
will help you determine what sort of customer base you have be telling
you how many people entered a specific search term in a given month.
Step Three
Analyze your findings. The level of competition that can be found
in the market determines the best niche markets to get into. Though
some competition is good, too much competition is bad. Niche marketing
only works if there is demand and a market for the product or service
that is being sold.
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 1
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 2
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 3
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 is left to do is enjoy your niche marketing experience.
About The Author
Cliff Posey has also operated several other successful web businesses
including Love Song Cards and Radio Career Consultants. The content in
this article was developed from his experience in these businesses.
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Distributed by Hasan Shrek, independence blogger. Also run online business , matrix, internet marketing solution , online store script .
Beside he is writing some others blogs for notebook computer , computer training , computer software and personal computer
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