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Find Your Niche - the Internet Marketer's Goldmine
by: Mike Parker
If you haven't heard the word 'niche' being batted around by Internet Marketers
then you haven't been listening. Finding a niche has become the antidote
to competing in overly saturated online markets.
What is a niche?
According to Merriam-Webster's Online Dictionary a niche is described as
"a place, employment, status, or activity for which a person or thing is
best fitted... a specialized market".
Have you noticed that despite the closing of many businesses in these harsh
economic times, the local hobby train store is still around? That the
'hole-in-the-wall' eatery is thriving? Or that trends such as scrapbooking
can start with a bang and still close within a year when four similar businesses
start up in the same area?
The online business world reflects the same trends as experienced in the
offline world - often with faster turnover and startup rates. Those who promote
a product or site that targets a small, select audience can tap into a market
that is otherwise not being served. Despite the limitations of the client
base, the targeted nature of the business creates a devoted and active market
- the aim of any business.
HOW DO I FIND A NICHE?
Finding a niche requires diligent research. Whether you have access to software
that harvests and sorts information or you take a manual approach you must
first start with ideas.
With a pen and paper (or computer, if that's more comfortable) brainstorm
a list of businesses, products and industries. Create a list of keywords
and phrases you think would be used by individuals looking for these items
online.
Use a software program such as Wordtracker or a free resource such as the
Overture Keyword Selector Tool to find keywords for your niche that have
a high amount of traffic.
Although a program like Wordtracker makes it easy to find details such as
how many sites compete for that market, you can also do your own research.
Concentrate your attention on question phrases such as "how do I..." or "where
can I...". These questions will clue you into potential markets that need
servicing.
Next, look in Google Answers. Type one of your keywords into the search area.
What questions are being asked and how much are people willing to pay for
answers? If you find a group of keywords with a high number of questions
then enter these words in your browser's search engine. What sites come up?
Do they provide answers or solutions to the problem? How are they making
money? Can you see an opportunity to service these individuals?
Finding a niche can open the door to a profitable online business. Research
the market and be certain that your product or service is valuable to this
group. Find forums or groups that target this audience and pay close attention
to their concerns.
If you can help these people you WILL make money. The best of both worlds!
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About The Author
Mike Parker has been a successful Internet retailer since 1998. He started
from scratch selling inkjet cartridges online. Mike now works in the digital
info market, his latest web site is
http://www.gingeparker.com/.
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