Using Niche Marketing to Find a Niche
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.
By 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.
Cliff Posey
http://www.articlesbase.com/ecommerce-articles/using-niche-marketing-to-find-a-niche-50448.html
October 18th, 2009 at 3:47 pm
Who has a good niche marketing strategy?
I’m looking for a great niche marketing strategy that can make me money. I know that it will take some time to start seeing the money but I don’t want to waste time and money on a strategy that doesn’t work. What strategy have you used and has it been successful?
October 18th, 2009 at 8:49 pm
find a business which you think can get your interest and try to involve on it. f it works then you can continue doing the routine but if not try to look for a new niche where you feel your in it.
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October 18th, 2009 at 8:51 pm
I would really recommend that you check out http://www.mattbacak.com. He has made millions of dollars doing Internet marketing and really does give you inside information on what has worked for him and how you can be successful. You can definitely learn a great niche marketing strategy from him.
I recommend his IM Gold membership or the Internet Marketing Dirt newsletter. His blog and free newsletter has some great info, but if you want a real strategy to follow, then I suggest you spend the money on his product.
I have learned a great deal from him. No, I am not a millionaire but I only do IM part-time as I have a full-time job as a teacher. I started this summer doing Internet marketing while I was off from school and am already seeing some pretty decent money come in. The best thing about niche marketing is that you don’t have to work on it every day. I usually only spend 2 nights a week and the weekends doing it now since school started. Definitely check him out.
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Niche marketing strategy
October 18th, 2009 at 8:53 pm
a smart morketing strategy for any body is to get support from potential competitors. work with them not aginst them. when alredy sucsesful companies support you. things will turn out for you. perfect example. microsoft and apple. they are directly competitors. but guess what. microsoft makes software apps for apple their competitor. and apple dosent lash out when microsoft copies their inovation. even though they are both fighting to be the better company they both have a similar goal. so they help each ather, they take iseas from each ather. xerox was the first inventor of the computer we know today. apple copied their idea so we never found out about it. but gues what becasue of that apple got huge and with apples support. so did xerox. microsoft takes its ideas for graphical interface from apple. ibm made hardware platforms for microsoft. you see. when competing companies work for a similar goal and support each ather insted of trying to win. every single company wins. beacuse they compeate to be the best and also share the same goal in the product. they end up helping and pushing each ather up. so instead of having one small company and one sucsesful company that rules the market. every one in the boat together beomes 20 times stronger than they ever could be without each ather. so dont compeate to win. compeate to set the market. help competitors. they will help you. and both of you will gain from it. now marketing publicity. getting the products out into the eye of the public. well that just comes with sucsess. now this point in time. in the resetion. they say infation just causes more inflation. thats true. most companies. rase rate when their vendors rise their rates. in turn the customer is the one that suffers. keep ure prices low wile inflation attacks all the companies around you.yeh ule take a hit in the begining. but guess whos gunna have all the costumers. yeh think about that for a min. most companies today do things wrong. even though they have sucsess. get one thing off balance in their system most will crash and burn. you have to create your own economics not bank of of the existing economy. im starting to ramble now. sorry for that its 3 am and i ben up for 17 hours. anyways i hope this helped. oh the most important thing. trust your costumers. make the public see you on a personal level not corprate. most busnesess make the mistake of going into bisness to make money. no go into bisness for the people to have and share a new butiful product that you feel pasionate about. danm the money. if ure in it for you customers and not for the money. well in the end you will have more money than you know what to do with cuz people will trust you and your product. anyways, i talked enough im starting to annoy myself. peace!!
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