Jun
26

Finding the Right Niche Market

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Select the right niche market and everything else will follow. Finding the right niche is the foundation for your online business success.

Finding the right niche market

Finding the right niche market

There are two different approaches to niche selection. Some Internet marketing experts would argue your interest in the niche doesn’t matter. All that matters is the potential for profit.

The other opinion is that that you should at least start your Internet marketing business in an area that you have a passion or an interest in.

I do have many websites in niches that I knew very little about when I started them. But I have to say that most of the content for these sites is outsourced. I just don’t have the interest to keep me motivated to write the content. In contrast I’m passionate about teaching and sharing my knowledge about Internet marketing.

The best of both worlds – passion and profit

You can have the best of both worlds – a topic you’re interested in and a profitable niche. Start with a topic that you are interested in. Then do your keyword research to find a profitable smaller area or niche within that topic to focus your business on.

Start with what you know

My advice is to start by writing down a list of everything that you’re interested in. This should include your hobbies, interests and areas that you have expertise or knowledge about.

You should also include in this list things that you would be interested in learning about. (Writing content about the new interest or hobby can be great because you will be able to relate directly to others who like you are new to the topic and want to find out about it.)

At first you may wonder what knowledge and interests you actually have. Just think about all the things you do. I’ve travelled all over the world. I enjoyed my career as a teacher. I love my cats, tennis and taking photographs. This is part of my list:

My Hobbies and Interest List

  • Internet marketing
  • Teaching
  • Travel
  • Photography
  • Personal development
  • Tennis
  • Scuba Diving
  • Cats
  • Cooking
  • Film
  • Theatre
  • Sailing
  • Gym

Hot niches

Now look for the hot niches within your general areas of interest. A hot niche is an area where people are rationally passionate, eager and enthusiastic. They must have money and already be spending money on products in the niche.

A hot niche from the area of photography in my interests list would be digital photography. People spend a fortune on digital photography. But digital photography is too broad a market. In this case I would need to drill down further and find a less competitive sub-niche within digital photography. For example, I might choose digital photography lighting or Macro digital photography.

Tips for spotting a hot niche

A really simple tip for spotting hot niches is to look and see if there are magazines published on the topic. Look online or in the shops. If there’s a magazine – there’s a market. Magazines cost a fortune to produce and make most of their money from advertising. Those magazines are full of adverts for products and services that are being bought in the niche.

Keyword research

Internet marketing is search driven. We can only sell what people are searching for. We also need to target keywords where the competition is not too intense.

Keyword research really is the key to your online success. It is the foundation to a successful online business.

Free keyword research tools

There are some great free keyword research tools including the Google keyword tool. Many of the paid keyword tools in fact use the same data from Google. An important tip for using the Google keyword tool is to create and login to a Google ad words account to use it. The Google Adwords account is free and the keyword tool within the Adwords account has more features than that provided outside of the Google Adwords account.

Paid keyword research tools

It is possible to do keyword research without using paid tools. However if you have a budget, Market Samurai provide a range of tools in one package that are relatively inexpensive and do make keyword research easier. The link below takes you to a free trial so you can use Market Samurai risk free yourself. One you’ve tried the free version you can easily upgrade to a full lifetime subsciption at any time.

Market Samurai free trail offer

Ask any questions that you have about finding the right niche in the comments section below. Don’t forget to sign up for my free report and more online marketing tips by entering your email address in the box on this page. 

Regards,
David Francis

NewInternetMarketingAcademy.com

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