How to Research and Find Your Niche Online
What Niche Marketing is Not
Niche marketing is not about trying to sell your product or service to the world at large. As a small businessperson, you couldn’t afford that kind of multi-million dollar advertising budget. It isn’t possible. You can, however, with only a computer, an Internet connection and a good idea sell to a smaller audience using niche marketing.
Niche marketing is not about trying to compete. Competition is taken out of the equation when you do niche marketing. You aren’t out there in the world lined up beside or behind a million other people who are selling the same thing you are selling. You are selling to a specific audience that you have created for yourself with your opt-in email list.
Niche marketing is not about selling to different people every day of the week. Once you have your list built, you can sell to the same people time and time again. By taking as much time as you need and putting forth enough effort to get to know the people who make up your list of buyers you can continue to sell to them.
Niche marketing is not about focusing on the big picture. It is about focusing on the small picture and the smaller the better. Narrowing your niche down to a very specific part of a larger market assures you of gaining a fair market share of that small part. The world is a big place and there are billions of people. You only need an infinitesimal portion of the population to have a huge list of potential buyers of your products or services.
Niche marketing is not about seeing only the impossibilities. Niche marketing is only about looking closely at the possibilities. Small possibilities converted to sales can equal big profits.
Deciding on what product or service you will promote in a niche market should be based on a simple principle. There should be a demand for your product or service. You want to offer something that people actually need, something that will make their lives better, make them feel better physically, make them look better, or help them solve a problem.
Once you have chosen a product or service to market, researching to find the right niche for your product or service is the next most important part of beginning a niche marketing program. The things that you need to know are where they spend their time online, and what makes them tick from a personal and business point of view. There is niche marketing software out there that can help you learn these things about your potential niche market.
The next thing you need to learn as you research your online niche market is what you can reasonable charge for your product or service. The best and most effective was to do this is to visit sites that advertise products or services similar to what you have chosen to sell. It should be easy to see if they are giving away a service or selling the product at a price far lower than you would have to charge.
If you can determine that there are people out there who are willing to spend money to buy what you are selling and you can identify those people then you have a niche marketing product or service that can make money on the Internet. Sometimes it takes reframing your product or service to make it more attractive, better or just different than what others are selling it for. Research is the key to successful niche marketing.
