Niche Market Research | Find A Niche

Now, If you have a potential list of topics and markets that you are interested in that will be great. However, before you solidify your options, you will need to further conduct market research to find a niche.

The objective here is for you to be able to give you some idea to quickly find a niche and evaluate it prior to registering a domain name, setting up a website or creating a product, so that you know, without a doubt, that the markets you choose are worthwhile.

First of all, if you are unsure of what a "niche" actually is, in simple terms, a niche is simply a specific topic within a market.

For instance, if you are involved in the weight loss industry, if you find your niche, your personal niche might be to focus on "body building" or perhaps "raw food diets". Choosing a specific niche rather than a general topic allows you to cater more specifically to a target audience, and hone in on your customer base.

As you probably know, generic websites that cover a broad range of topics is often far more difficult to be successful with in comparison with a website geared towards specific topics. This is because those seeking answers or solutions to their problems are looking for targeted information, and while there are exceptions to this rule, it's usually easier to dominate your market, if you break it down into individual niches.

Look over the list you created with potential ideas for topics and see if you can dissect each one even further so that you are zeroing in on specific niches, yes find your niche. If you have "make money online" as find a niche topic, filter out ideas by covering specific sub topics within that market, (example: affiliate marketing, work at home jobs, freelancing, info product development, SEO services, etc). The more targeted your niche, the easier it will be for you to enter the market and be able to develop targeted campaigns that reach out to specific groups of people (your target base).

One of the biggest mistakes that new marketers and online business owners make, is in trying to find markets that are virtually untapped.

They want to be the primary authority in the market, to create business in non-existant industries, and in all reality, this is exceptionally difficult to do, not to mention exhausting in terms of time, money and resources.

Instead, try to focus on existing markets where business is booming, competition exists and products are already created, because if you do this, you're far more likely to focus on profitable markets. After all, the more competition, the more products typically equates to more people searching and actively purchasing this type of material.

This doesn't mean that mainstream markets are a snitch to do business in, in fact, this is exactly why you need to dissect your market and where you determine and find your niche.

Broad markets like "Weight Loss" or "Personal Development" are very hard to infiltrate because of just how incredibly competitive the market is. What you need to do is investigate "sub niches", smaller markets that exist within the large, mainstream culture, so that you can still focus on profitable (and popular markets) but with fewer competition.

To find a niche , you also need to consider whether your potential market consists of "desperate buyers". It's easier to sell products to people who are already actively purchasing and have available funds to continue purchasing, than it would be if you were selling a product geared towards helping people who are struggling with finances.

(Example: Selling an info product on weight loss to someone looking to lose 50lbs would be easier than selling an ebook on budgeting to someone in a cash crisis and less likely to spend money so easily). 

So, how can you determine what markets are profitable and whether it's worth pursuing?  Finding Profitable Niche  ( Cont... )

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