| Whether you are just starting out for the first time, or | | | | quality information but not all. You want to avoid a |
| adding to an existing internet marketing empire you | | | | niche market that doesn't already have competitors |
| need to start with a simple marketing plan to find a | | | | selling to them because the odds are they aren't |
| new niche online that you can develop. | | | | buyers. |
| The advantage of the internet is the ability for people | | | | Once you have found a new niche market, you want |
| to find specific information on narrow topics of interest | | | | to understand their problems, trends and behaviors. |
| to them. With hundreds of millions of people searching | | | | This means you will need to spend some time learning |
| for everything under the sun, it becomes possible to do | | | | about the niche, listening and discussing issues that |
| target market marketing by narrowly focusing on a | | | | affect them, and research the existing products and |
| lucrative market where there is already demand for | | | | vendors that are active in the niche. |
| products. The trick as a marketer is to identify what | | | | The result of your market research and analysis |
| niche you can effectively exploit most profitably. | | | | should be a thorough understanding of the niche |
| So what is a niche? | | | | market, so that you are an actual expert in the niche. |
| A niche market is a subset of the market on which a | | | | This doesn't mean you need be the most informed |
| specific product is focused. Ultimately that means that | | | | person, but clearly the better you understand your new |
| every product has its own niche, but to start by | | | | niche market the better. |
| focusing on the product is generally a mistake. | | | | As part of this new market research you will examine |
| For niche marketing internet style, it's best to first | | | | the existing products and services offered and |
| identify the niche, and their needs before you get to | | | | determine their strengths and weaknesses. As you |
| the product or solution. | | | | gain familiarity with the niche market you will want to |
| So this implies that a niche is a group of people with a | | | | do trend research to see where the niche is going. To |
| common interest. As an example, millions of people will | | | | the extent there is a trend you clearly want to get in |
| identify themselves as fishermen or women. But within | | | | front of it and become its leader. |
| the overall category of fishing, you will find people who | | | | Where there is no trend you will need to focus on |
| when asked are more specific. They will say they are | | | | what's missing? What subset of the niche market is |
| into Deep Sea Fishing, or Trout Fishing, or Bass Fishing, | | | | still having a problem that's not being met. |
| or even Ice Fishing. | | | | If such a subset exists, you have found a new niche |
| Within any of these narrower categories there may | | | | market. |
| be additional categories or sub niches, such as Bass | | | | Perhaps an existing affiliate product is the best product |
| Fishing Boats, Bass Fishing Vacations, or Bass Fishing | | | | on the market but is not being marketed well. You |
| Tips, etc. | | | | should be able to market it better than it is now, now |
| As a marketer, our simple niche marketing strategy | | | | that you have a clearer understanding of the niche. |
| calls for us to: | | | | Each journey into finding a niche and creating niche |
| *Seek out a small segment of larger markets | | | | profits is different. |
| *Identify the needs of the people in that small niche | | | | But each successful niche marketing research project |
| *Provide specific solutions to those needs | | | | seeks to: |
| *Selling them solutions to fulfill their demand | | | | * Identify Specific Market Needs |
| Easy enough to say, but how do we identify profitable | | | | * Identify Price Range of Existing Products in the |
| niches, where people are hungry for solutions? | | | | Market |
| Market research is the foundation and key to all | | | | * Evaluate the Quality and Effectiveness of the |
| successful niche marketing programs. It is important to | | | | Existing Products |
| identify and research an appropriate niche before you | | | | * Focus on Understanding the Demographic Base of |
| decide which product or products to sell. | | | | the Niche |
| The first step is finding your niche. You want a target | | | | When you are done with your research, you should be |
| audience that is hungry for a solution to a problem | | | | able to identify your specific audience, and know |
| they have. And that are willing to pay for a proper | | | | exactly what they are looking for. You should be clear |
| solution. | | | | on how you can help them meet those needs and |
| This second point is important. There are hungry niches | | | | have a specific solution to their problems. And finally |
| that are not willing to pay for a solution, particularly | | | | you should be able to establish a solid case for why |
| where the solution is information. Now there are many | | | | they should listen to you, when you offer them your |
| niches markets where people will be willing to pay for | | | | solution. |