Getting that really good niche – with loads of demand and low supply is the goal of online marketers. So how do we go about finding a niche market?
It is a task many just gloss over and take on something that seems close to their keyword or topic – especially if it is like a market that is selling well or seems to making heaps of money.
That or they choose a market in which they are both familiar with and possess a lot of expertise for. On the face of it – that seems like a good idea – but it go awfully wrong.
Let’s look at this second issue and then go back to the first issue raised.
Niche Marketing Based On YourExpertise!
It is good to produce an e-book or product on what you know – but just because it is something you know and think is great and a potential winner – it begs the question – is it something others are looking for to answer their questions or solve their issues?
First off then – it has to have a market. Then, a market with good to high demand – and then, low supply. To be a good niche it has to fill a gap or have a different slant on something that isn’t being provided.
It is no good joining into a heavily competitive market – no matter how good your expertise is – it takes too long – if you are attempting to build a following on non-PPC marketing…. that is on a low budget.
- There has to be a demand for your product – and a targetable audience – so you wouldn’t aim to sell to five year olds. The niche has to have money to spend.
- If there is a market – is it growing or declining?
The answer – before you go to all the trouble of making the e-book or creating a product (e.g. coaching course), drawing up a sales letter, bonuses etc. – DO YOUR RESEARCH to determine if there is a market.
- Use Google and browse the topic – see how many sites there are for it
- Use Google trends – to get an indication of demand
- Use Google Keyword Tool
- Use Google Traffic Estimator.
A good example is say, ‘weight loss” – a great market, with lots of money. But so highly competitive, it is almost impossible to compete – you just can’t do it generically. You would need something unique that will have demand or create it.
Having said all that – if you have a product your research tells you will be a goer – then you must market in a way that demonstrates that it isn’t simply a clone of something already out there – that it has a unique solution and approach. Well, at least a degree of uniqueness.
Imagine trying to set up a hamburger chain in competition to McDonald’s or Burger King.
The only way you could do that, I suspect, is to have free hamburgers – that tasted as good or better. Or have mountains of money – but then if you had that, why would you set yourself up to fail?