Tag: new niche

Selecting a Niche: Some Starting Points

Before we start searching for your new niche, lets review how the niche marketing process works.

•    Step 1 – You need to pick a viable niche.
•    Step 2 – You need to study and understand the niche.
•    Step 3 – You need to create and/or find a product to promote to this niche. (This is where you provide a solution to them)
•    Step 4 – You design your campaign, copywriting, and drive traffic to your niche website.
•    Step 5 – You generate nice niche profits.

In my next couple of posts we will discover a number of free tools you can use to assist in this process of selecting a niche.  But before we go into depth on using these tools lets start deciding what niche we want to research and develop.

There are 3 main themes that are highly lucrative for niche marketing, that you should be aware of. They are: –

1.    Health
2.    Wealth
3.    Relationships

You can never really go wrong with these as starting points when selecting a niche.  There are always people having problems and desperately looking solutions in all three.

However, these 3 categories mentioned here are very broad. So what you need to do is to use the tools, that will be demonstrated later, to dig deeper into these broad categories before selecting a niche to exploit.

That way you can become the “expert” to provide specific solutions to your new niche easier, faster and better.

In addition to these broad categories you may want to think in terms of broad motivations that people may have within a category.

For example, think of ‘people in transition’. If someone has just lost their job, they are more likely to be searching for solutions and willing to take action when an appropriate solution presents itself.

Another example would be a wife filing for a divorce. This is also a transitional period where the couple may be looking for a specific solution for the family or solutions on how to move forward with their relationship.

Sometimes one side of the couple may even be seeking out advice to get back together with the spouse or partner.

So people in transitions are normally ‘hungry’ because they are desperately in need to get out of their current chaos.

Another lucrative type of market is the ‘in the news trends’. While these may or may not be long lived niches, they can be highly profitable while they are prominent in the public’s mind.

In the news trends are often just a quick dash or sometimes a prolonged situation. Often it’s a wave that needs to be caught. An example of ‘In the news trend’ would be the recent retrenchment and unemployment news.

News stories about the current recession and high unemployment rates are all over the news. These people are currently in chaos. They’ve lost their jobs and need to find a solution as soon as possible to sustain their lifestyle and their monthly commitments.

While this may always be the case to some extent, when you are in a major trend it’s wise to use effective marketing to capitalize on the situation.

Another example might be ‘celebrity diets’.

News about the latest celebrity diets are evident in gossip magazines, TV channels, and on various trend indicators as we will discuss. When you see a trend capturing the media’s attention, it is ‘hot.’   People will very often craze about it during that period of time.

Again it takes some nimbleness, but niche marketers who are prepared to catch and ride on these waves can generate extraordinary niche profits.

So when thinking about effective marketing for a new niche consider not just what niche, but whether you can identify some “moving force” that might motivate people within your new niche to take action.

Starting From Scratch: Deciding What Niche to Pursue

Whether you are just starting out for the first time, or adding to an existing internet marketing empire you need to start with a simple marketing plan to find a new niche online.

The advantage of the internet is the ability for people to find specific information on narrow topics of interest to them. With hundreds of millions of people searching for everything under the sun, it becomes possible to do target market marketing by narrowly focusing on a lucrative market where there is demand for products. The trick as a marketer is to identify what niche you can effectively exploit.

In the next several blog postings we will discuss the topic of finding niches that you can develop into your own little piggy banks. Once we have finished that we will move on to how to properly develop those niches.

So what is a niche?

A niche market is a subset of the market on which a specific product is focused. Ultimately that means that every product has its own niche, but to start by focusing on the product is generally a mistake.

For niche marketing internet style, it’s best to first identify the niche, and their needs before you get to the product or solution.

So this implies that a niche is a group of people with a common interest. As an example, millions of people will identify themselves as fishermen or women. But within the overall category of fishing, you will find people who when more specific will say they are into Deep Sea Fishing, or Trout Fishing, or Bass Fishing, or even Ice Fishing.

Within any of these narrower categories there may be additional categories or sub niches, such as Bass Fishing Boats, Bass Fishing Vacations, or Bass Fishing Tips, etc.

As a marketer, our simple niche marketing strategy calls for us to seek out a small segment of larger markets, and identify the needs of the people in that small niche and then provide specific solutions to those needs by selling them solutions to fulfill their demand.

Easy enough to say, but how do we identify profitable niches, where people are hungry for solutions? That will be the topic of our future posts.