Firstly, in case you don’t know, a niche market is a specialized area that an internet marketer concentrates on specifically to target a smaller but more focused audience of potential customers.
Most of the successful marketers out there start with one or two niches then diversify into other niche markets, that way they don’t have “all their eggs in one basket” as the results with niche markets can differ drastically.
If you have dozens of interests, perhaps you have considered taken that interest online and building a niche business around it? If you have, there are a number of things that must be taken into consideration.
You should write down a list of things that you are interested in or good at first of all.
Okay so maybe you have a dozen things on the list. Now, look at every topic on that list and ask yourself a few questions.
Would I be able to write a lot of interesting articles on my chosen subject?
Remember, however you are going to promote your chosen niche, whether it be on a WordPress blog, a stand alone website or a Squidoo lens, you will have to write regular interesting post on your niche subject. You should also write articles for ezine publications too, to get links into your site.
Will my niche have too much competition?
Many niche subjects are saturated on the internet and the easiest and quickest way to find out is to punch in your niche market term into Google, put it in quotes. Let’s say we want to find out if “internet marketing” has a lot of competition. Beneath the Google search box is a number, and this case it is 36,100,000 and that means an incredible amount of competition. Remember if you have a website or WordPress blog you want your niche market term to be up there on page 1, so that is pretty much impossible with that particular search term.
If you are just starting out, you can use Google’s Adword keyword tool, it’s free and simple to use. You put in your term and a list of related terms will come up. It will give you competition, the amount of global monthly searches, local monthly search trends and a trends graph. If you sort the columns by global monthly searches, the term “internet marketing” is the highest at the top of the list, with other terms listed in decreasing numbers. You want to aim for terms in the middle somewhere. The term “web marketing tools” is searched about 74,000 times per month, so if you have some great web marketing tools, that would be a good niche to choose and of course, these are excellent keywords to use. You never want to try to create a niche around something that has millions of searches every month.
Is my Niche Profitable?
Obviously this is very important if you want to make some money! My first niche website was about tea, I could write lots about it, there’s a lot of interest in tea but profit-wise it was DOA. Most people can buy their favorite tea at a supermarket for a dollar or two!
When you look at the profitability of your niche, you should also look at affiliate programs that can help you make money. If you can’t place income generating ads on your site, unless your little niche is a labor of love, move on to something else on your list.
Do plenty of research to see if your niche business is actually viable and it will save you a lot of time and frustration. Another valuable tip – when you register a domain name, do your best to get your niche title in the name – for example, internetmarketing.com. That will help you with the search engines, and help people to remember the name of your site.
Do you have a successful niche marketing site? Do you have any other tips for someone just starting out? Anything that should be avoided? We would love to hear from you!