Unless you’ve been living in a cave for the last couple of years you must be aware of just how powerful and profitable finding your own niche market or gap in the market can be, that elusive segment of a larger market which the smaller marketer can dominate and profit from, So how do you go about finding your own profitable niche market to start building your business around?.
We know that an ideal niche market is one where there is an interest from a small but sizable group of individuals ‘niche market’, this should ideally be a market niche left largely un-served by the masses.
As I said finding a profitable niche market for yourself doesn’t have to be difficult and if you follow the following simple steps you won’t need to spend any money on fancy software. There are many ways of locating your own niche market but fortunately they can be learnt quickly,for this article I’m going to be concentrating on just one, which I think is probably the quickest.
The knack to locating your own successful niche market simpler than you might think, one of the methods I use is to look at the fringes of a larger market for unfulfilled areas. For example, what about a mini site offering a guide aimed solely minimalist decorating, (just an idea)
Step 1.
Probably the best place for any new Internet marketer to start is with something they already know about, although you don’t have to start here, you will probably find things much easier and quicker if you work in a field in which you have some experience. Consider your interest and expertise or perhaps your hobbies, and try building your research for your first project around them.
Step 2.
So by using an interest or hobby you should now have at least 1 market written down, we’ll call this your main market. For the next part of this step we need to open up the ‘Google keywords tool’, don’t worry its free, just Google it. Now enter your main market into the Google keywords tool , check the ‘use synonyms’ box and click ‘get keywords ideas’, this will give you a list of relevant keywords to your original market (keyword), scan the list of keyword ideas and chose something you think might be an area of interest, for example, if your main market was plumbing, you might pick ‘Installing a bathroom’.
Now obviously ‘Plumbing’ would have thrown up millions of sites, 61,900,000 to be exact, not really what you would call a niche market, however ‘Installing a bathroom’ returns sites totalling 269,000 do you see how this works, within just a few minutes you can have the start of you first possible niche market, or you could take the procedure even further until you find something that works or until you find a market small enough to serve and obviously big enough for you to profit from.
Step 3
When you have your chosen area you’ll need to do some research on the competition. Don’t worry to much about competition at this stage as you will find later on that some competition can actually be a good thing, so don’t be misguided into believing what many so called gurus preach, believe me trying to market to a completely competition free market can be a waste of time,
Remember if the market is so small and with no competition the chances are area will not be viable or indeed profitable, that’s not to say that it won’t become so in the future, but for now let’s stick to the quickest way to profit through niche marketing.
A great free tool you can use to research your keywords is ‘WordTracker’s Free Keyword tool’. Wordtracker pulls data from a number of smaller search engines, but their figures tend to be reasonably accurate. Just enter your keyword into the software, and it will return a list of relevant keywords which you can use for the next piece of research. When researching keywords you should generally be looking for keywords with a count of over 30.
You should now have a list of keywords which are related to your chosen niche market, you’ll now need to carry out a little research using your competition to establish just how profitable your new keywords are, how profitable this niche is, or could be. For the next bit of research I use another free software called ‘Traffic Travis’ the company that market this software offer a paid and a free version, but the free version will do everything you need at this stage. Enter your keyword list into the Traffic Travis software (they supply user video’s and tutorials), to establish how many people are bidding on keywords from your list, in the PPC market. We’re only using the PPC market as a point of research as it gives the best indication of what works and what people are willing to pay money constantly for. The premise is that if they are willing to consistently pay for their ad to appear, then the keywords themselves must be profitable!.
Well that’s basically it, looking for your own niche market can be as complicated or as easy as you want it to be, so why make things difficult. I recommend you check traffic-travis over the following week to see if the same websites are consistently bidding for the same keywords. And if they are you’ll know this is a profitable niche market to get into.
I hope you found this article of some value.
