 Niche Marketing - How to
Find Your Perfect Niche Market
By
Herman
Drost
If you don't find a niche market for the product or service you offer, you
will have a difficult time being successful. Most newcomers who wish to do
business on the Internet often market to everyone they can find with the
expectation that everyone will do business with them. This is the same as
throwing mud against the wall and hoping some of it will stick. They have
not yet found their niche market.
What is niche marketing?
A niche market is composed of individuals and businesses that have similar
interests and needs, which can be readily identified and that can be easily
targeted and reached.
Finding a niche for your business means finding a great product or service
for a highly targeted audience.
Here's the process to find your niche business
1. Find a niche product or service you are passionate about. This will greatly
improve your chances of being successful. Why? Because it's the only way
you're going to be able to devote the kind of time and effort to create a
meaningful web site, build up the right traffic, generate worthwhile income,
and enjoy what you're doing.
2. Choose a niche product you are knowledgeable about. Reflect on what skills,
hobbies or products you know the most about. If you don't have the knowledge
yet, then choose a niche product that you would love to promote, then spend
the necessary time to research it, so you can eventually become an expert
in your marketing field.
3. Define your niche market - do the necessary research to see if there is
a market for your niche product. To create a profitable business for your
niche product, you need to ask yourself these questions:
a) Is there sufficient demand for it? - if you choose a field that is too
broad it may be hard to stand out from the competition. For example, camping
equipment could be your niche product. Well, unless you are a large corporation
such as Sports Authority (a large retail store in my town), you won't stand
out from the crowd. However, a more highly targeted niche product could be
Coleman Camping Equipment.
b) Keyword research - use keyword tools such as the overture
suggestion
tool or
wordtracker to find
how many people are searching each month on keywords related to your niche
product.
Here's an example:
According to overture (at the time of writing this article), the keyword
phrase "camping equipment" was searched 76164 times in one month. If you
do a search on Google.com for camping equipment you will find 1,610,000 web
sites show up - heck, that's too competitive.
However "coleman camping equipment" generated 1242 searches in one month
according to overture. Google.com shows 93,200 competing websites. That's
much better though still somewhat competitive.
Tip: Notice there are not many web sites (even the top ones), that have "coleman
camping equipment" in their titles. This is just one of the ways to obtain
a high ranking on the search engines for your newly targeted web site. This
will then provide lots of targeted traffic to your site.
c) Take a survey – you may already have products or services that you
selling to your customers. If so, ask questions within your survey about
what product or service would help your customers business. If it can help
them save time by gaining more knowledge or automating tasks, you could have
a winner.
d) Create Your Own Unique Selling Position (USP) - study your competition
to find out what they emphasize about the product which makes them stand
out from the crowd. Then decide on something that will make your business
unique from the others. It could be something unique about the product (ie
discount coleman camping equipment) or you could choose a more highly defined
target market (ie boyscout organizations and clubs throughout the USA that
use coleman's camping equipment).
4. Build and promote your web site - to develop a profitable web site for
your niche product, you need to create a number of informative pages that
will not only attract visitors from the search engines, but inform and move
them to purchase from your site.
Read my article,
"How to
Create a Web Site That Sells".
Niche marketing is the key to developing a profitable business that will
make you stand out from the crowd. By doing the necessary research and building
an informative web site, you will become an expert in your niche marketing
field.
Resources
ebook
- "Strike it Niche"
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