The Niche Marketing Blog

Tools for understanding and reaching your market

Using Niche Marketing to Find a Profitable Market to Target

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You have been hearing a lot of people promoting the fantastic opportunities and profits they claim can be had through something called “niche marketing.” But you’re a little skeptical and are wondering how exactly you should go about finding and researching a viable niche that you could develop into a profitable business-one that is not only real, but still has room for newcomers to succeed.

  1. Start with you. Where do your existing skills and areas of expertise lie? Do you have job experiences you’ve enjoyed or interesting hobbies? You are far more likely to have the persistence and energy to work over the long term in an area that truly interests you. And building on an area you already know about will be far easier than starting from scratch to develop the kind of knowledge-base you’ll need to create a quality website and earn credibility.
  2. Identify related keywords. Once you’ve identified some potential areas to explore you need to develop a list of “keywords” that describe or relate to these concepts. You can find help for this process at an online site called “Wordtracker” that will take your initial ideas and bring up an array of associated words and ideas that can help you define your interests in terms of products and services. You’ll be surprised at how quickly your keywords will multiply, maybe into the hundreds.
  3. Explore the market. Next you want to test whether these keywords are also interesting to a significant number of other people-do they have a potential market. For this you’ll want another kind of online service that tracks the popularity of keywords among both suppliers and searchers. In other words, how often is someone searching using this keyword, and how many websites do they find out there when they look? Two sites that can give you this kind of data are “Product Idea Evaluator ” (P.I.P.E.) and “Site Build It!” Identify the keywords which have high demand (many people are searching) compared to the supply of existing sites providing the answers they are seeking.
  4. Cost out your keywords. Take the top candidates you’ve identified as keywords having high demand and low supply. Sites like Overture and Google AdWords will give you estimates for what it will cost you to advertise using the keywords that describe your chosen interests. What you are looking for is leads to existing products that you would be able to market through an affiliate relationship. This is where you begin to determine what the financial potential is of the niche you’re looking at.
  5. Who’s ahead of you? Explore the sites and offerings of the people who are already in business in the area you’re considering. Are they as up-to-date and attractive as they could be, or are they sagging a bit and showing signs of neglect? Consider ways that you can enter this market competitively-with something fresh and unique to offer. Truthfully, it’s difficult at this point to find a completely unexploited online niche with strong profit potential. But there are still areas that have been underdeveloped and have room left for an imaginative and energetic new enterprise.

If you’ve made it this far, you are ready to start building your all-important web presence. The key to efficiency at this stage is to create solid, informative and well-targeted content that will draw people to your site. If you succeed in providing the right information expressed in the right way, more and more people will find you and your search rankings will rise organically. At this point, your site will have developed the kind of value advertisers will pay to be associated with. And you will have found your niche-hopefully a rich one!

Do you want to start a profitable business online, achieve financial independence, and become successful using niche marketing, then you need to visit: http://startaprofitablebusinessnow.com and get your online business up and running today!

Article Source: http://EzineArticles.com/?expert=Eric_Fernandes

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The Questions To Ask Before Beginning Your Market Reasearch

By Donna Rios

Market Research is like sticking your toe into a lake before jumping in. It helps you get the feel of the waters. this will save you a tremendous amount of time as well as money. Once you know, you can focus and alter your product or services to fit the needs of your target market. Then you will be able to craft your message to reflect your business and services to your customers.

Market Research does not need to be costly by consulting surveys or focus groups. You can simply begin by asking the right questions to your faithful customers and also yourself.

To determine if the niche is right for you begin by asking these questions:

  ” Do I have an identifiable target population with similar interests and needs?
  ” Is the market large enough to support my business?
  ” Can I tailor my products, services, and business identity to address that market’s particular needs?
  ” Is my target market currently underserved?
  ” Can I reach my potential customers in a cost-effective manner?

I encourage you to take the time to set the goals and focus of your Marketing Strategy. This can be an overwhelming process for someone just starting out in a business

Some might think that the narrowing of their focus or marketing strategy to a defined niche will be cutting into their profit margins and eliminating many potential customers. But the truth is that a well defined niche marketing strategy can become one of the components that will give your business the power and drive that it needs.

Brian Tracy, a well known Business Strategist, encourages us to define our Goals, Objectives, Strategies, Plan, and Actions that we will take because they then give us a greater REO…Return On Energy that you have put into your business. And when your goals (on who you want to reach) or your marketing strategy is defined you have a higher probability for greater success.

Now that you have identified your niche, this will give your business a laser-sharp focus to begin your marketing strategy. The more you specialize, the more your market will see the value of your services because you speak directly to their unique situations. Assuming your niche is large enough, you can do quite well by becoming a provider of products and services that can’t be found anywhere else.

To Your Success My Friend

Your Marketing Coach

Donna donna@donnarios.com 706-231-7238

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