Home Business - What Is A Good Niche, Anyway?
There’s a lot of talk about niche marketing on the internet. And with good reason - there is good money in the niches. But only if you can find a “good” niche.
If you dont get that right, your internet business is not likely to be particularly profitable.
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So what is a GOOD niche?
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What are the indicators that a niche is “good”, which for internet marketers means “profitable”? What things should you be looking for when you are selecting your niche market?
1. A good niche is one that already EXISTS. That is to say, you don’t have to try to create the demand. It already exists in the market place. You can see it, for example by going to google.com and searching for the key words Perhaps you can even measure the size of the market. One way to do that is by getting a count of the number of people who have entered the main keywords into a search engine over the last month. There’s no guessing here.
2. A good niche is easily IDENTIFIABLE. Children with asthma is an easy to identify target market, but in contrast people who rub olive oil onto their potatoes before roasting them would be a lot harder to find. Just for laughs let me go out on a limb here and say that there might be more olive oil cooks than asthmatic children, but where do they congregate? WHERE would you go to meet up with the olive oil folks as a group? - which is something you must do for marketing purposes. And that leads on to the next point…
3. A good niche is easily TARGETABLE. Young men who ride bikes competitively on the weekend are easy to target - through their bike clubs. Home brew fans can be contacted through the vendors who sell them their brewing supplies. On the other hand, there might be a huge crowd of people who draw pictures of clouds but how would you find them? Through art supply shops maybe, but I’m sure you see my point about being EASY to target?
Get the idea?
The important underlying question so far is whether your home business can connect with your market, because you cannot serve them if you cannot connect with them.
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Part 2: What is a REALLY GOOD niche?
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4. We can now go a little further and say that a great niche market is narrow in focus but BIG IN POPULARITY. The more people in your niche, the more profitable it can be — other things being equal (and they aren’t always).
5. Better still, you want your potential customers to be PASSIONATE.
6. Lastly, for today, you want to be able to reach the consumers in your market economically, so there is adequate profit left at the end of the day after all your expenses. If it costs $4 to reach your average customer and then you make $4 from her, that’s not quite what you’re looking for.
Niche marketing is the most targeted marketing there is, and can also be the most profitable. Use the principles in this article to help assess any niche you are considering for your home business.
Finally, a suggestion…
Make today the day you ACT ON what you have just learned.
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