There's a lot of talk about niche marketing on the internet. And with good reason - there is good money in the niches. But only if you can find a "good" niche.
Without getting that right, your business is unlikely to be particularly profitable.
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So what is a GOOD niche?
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What are the indicators that a niche is "good", which for marketers means "profitable"? What should you be looking for when you are in the process of selecting your niche market?
1. A good niche is one that already EXISTS. The point here being that you don't have to try to create the demand. It's already there in the market place. You can see it, for example by going to google.com (or your favorite search engine) and searching for the key words Perhaps you can even measure the niche. One way to do that is by getting a count of the number of people who have entered the main keywords into a search engine over the last month. There's no guessing here.
2. A good niche is easily IDENTIFIABLE. Children with asthma is a clearly identifiable target market, but in contrast people who rub olive oil onto their potatoes before they roast them would be a lot harder to find. Who knows, there might be more olive oil cooks than asthmatic children, but where do they congregate? Where would you go to meet up with the olive oil folks as a group? - which is something you must do if you are to be able to reach them. And that leads on to the next point...
3. A good niche is easily TARGETABLE. Young men who ride their bicycles competitively with their weekend bike clubs are easy to target - through their bike clubs. Home brew fans can be contacted through the vendors who sell them their brewing supplies. On the other hand, there might be a huge crowd of people who draw pictures of clouds but how would you find them? Through art supply shops maybe, but what I'm saying is that good niches are EASY to target.
Get the idea?
The big underlying question so far is whether your home business can connect with your market, because you cannot serve them if you cannot connect with them.
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Part 2: What is a REALLY GOOD niche?
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4. We can now go a little further and say that a great niche market is narrow in focus but BIG IN POPULARITY. The more people in your niche, the greater the profit it can bring in... other things being equal (and they aren't always).
5. Better still, you want your prospective customers to be PASSIONATE.
6. Lastly, you want to be able to reach the consumers in your market economically, so there is adequate profit left at the end of the day. If it costs $4 to reach your average customer and then you make $4 from her, that's not quite what you're looking for.
Niche marketing is the most targeted marketing there is, and can also be the most profitable. Use the points in this article to help assess any niche you are considering for your home based business.
Finally, a suggestion...
Make today the day you TAKE ACTION on what you have learned.
Without getting that right, your business is unlikely to be particularly profitable.
===================
So what is a GOOD niche?
===================
What are the indicators that a niche is "good", which for marketers means "profitable"? What should you be looking for when you are in the process of selecting your niche market?
1. A good niche is one that already EXISTS. The point here being that you don't have to try to create the demand. It's already there in the market place. You can see it, for example by going to google.com (or your favorite search engine) and searching for the key words Perhaps you can even measure the niche. One way to do that is by getting a count of the number of people who have entered the main keywords into a search engine over the last month. There's no guessing here.
2. A good niche is easily IDENTIFIABLE. Children with asthma is a clearly identifiable target market, but in contrast people who rub olive oil onto their potatoes before they roast them would be a lot harder to find. Who knows, there might be more olive oil cooks than asthmatic children, but where do they congregate? Where would you go to meet up with the olive oil folks as a group? - which is something you must do if you are to be able to reach them. And that leads on to the next point...
3. A good niche is easily TARGETABLE. Young men who ride their bicycles competitively with their weekend bike clubs are easy to target - through their bike clubs. Home brew fans can be contacted through the vendors who sell them their brewing supplies. On the other hand, there might be a huge crowd of people who draw pictures of clouds but how would you find them? Through art supply shops maybe, but what I'm saying is that good niches are EASY to target.
Get the idea?
The big underlying question so far is whether your home business can connect with your market, because you cannot serve them if you cannot connect with them.
==========================
Part 2: What is a REALLY GOOD niche?
==========================
4. We can now go a little further and say that a great niche market is narrow in focus but BIG IN POPULARITY. The more people in your niche, the greater the profit it can bring in... other things being equal (and they aren't always).
5. Better still, you want your prospective customers to be PASSIONATE.
6. Lastly, you want to be able to reach the consumers in your market economically, so there is adequate profit left at the end of the day. If it costs $4 to reach your average customer and then you make $4 from her, that's not quite what you're looking for.
Niche marketing is the most targeted marketing there is, and can also be the most profitable. Use the points in this article to help assess any niche you are considering for your home based business.
Finally, a suggestion...
Make today the day you TAKE ACTION on what you have learned.
About the Author:
For a limited time, the author is offering a FREE REPORT called Niche Attack. Visit FindHotMarkets.com now to get your copy. While you're there, check this out: Gary has identified 58 ways to find good niches. Sounds good to me but see what you think.
There are lots of ways one can earn money online, one way of doing that is by the way of seminars. The great thing about attending or giving seminars is that you get to interact with many people and those could well become your affiliates. To know more visit my site.
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