Niche Marketing - How to Find Your Perfect Niche Market
Niche Marketing - How to Find Your Perfect Niche Market
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 (http://inventory.overture.com/d/searchinventory/suggestion)
or wordtracker (wordtracker.com) 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.
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.
About the Author Herman
Drost is the author of the popular ebook: "101 Highly Effective
Strategies to Promote Your Web Site"
http://www.isitebuild.com/web-site-promotion You can read more
of his in-depth articles at:
http://www.isitebuild.com/articles
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