How To Find A Niche Market
When you first get the idea that you want to make money online, it’s natural to get a little overwhelmed with the thought. You know you want to make money online but you don’t really know where to start. You also know that if you want to be really successful and in complete control, you’ll need a website. But then you’re left scratching your head thinking, what do I want my website to be about? This article will help you find out how to find a niche market.
Like I said, the very idea can be overwhelming. I know it was for me. Afterall, the Internet is a giant bottomless hole with an infinite amount of information. How do you carve out your own little slice of the pie and be successful at it and make money?
What is a Niche Market?
First, let’s talk about markets. (Boring, I know, right?) Computer companies would be a computer market. Electronics would be another market. Some other markets would be:
These are all examples of markets. So what is a niche market? A niche market would be a subset of a market. So a subset of each of the above markets might be:
- Childrens’ books
There are many subsets of many different markets that can generate income for your website. The key is to find a niche that is not overly popular. Build a site on that and then expand on it.
How to Find a Niche Market?
This is where a lot of people get stuck. They say to themselves, “I don’t know what I‘m interested in” or “I’m interested in so many things, how do I choose one?” Start by examining what your interests are. Start with hobbies. One of the best places to start is to look in your email box. Chances are there are loads of lists you have subscribed to because you have an interest in particular topics.
So let’s try one. Let’s say that you have an interest in photography. That’s a market. Let’s drill down a bit more. Afterall, photography is a HUGE market. Here are some ideas on possible money making niches:
- Digital photography (maybe even specific techniques)
- Specific types of cameras
- Camera accessories
- Camera packs
Who is your target market?
Get yourself a pad and a pen or pencil and start writing down what type of people you want to visit your site. Consider these questions:
- Who are they?
- What age bracket?
- Do they live in a specific area of the world?
- Is there a direct link between the types of people you want to visit your site and the type of site you want to create?
You Are Part of A Target Market
Whether you are aware of it or not, you are part of a target market for many products. Just take a look at all that junk mail you get each day. Flyers for all kinds of products: pizza, grocery coupons, home insulation, new doctors/dentists in town, etc.
Using Customer Loyalty Cards
What about every time you swipe your customer card at a grocery store or department store? Each time you make a purchase, you are giving away free statistics to the company regarding what you purchased so in future, they will target you for similar products.
What About Online Shopping?
Let’s take a look at your email account again. Ever buy anything at Amazon? If so, then you are instantly part of a target market. Notice how if you buy, say, a computer book, for example. The next few emails from Amazon are advising you of new and recommended products; “people who bought your product(s) also bought [fill in the blank here].” See? You are part of a target market!
Why is Finding The Right Niche So Important?
If you have a topic/niche that you are really interested in or passionate about, you will have no trouble finding topics, researching, and adding content to your site. It won’t even feel like work to you. It will be fun and you will enjoy it! The more you research, the more you will find to write about. So get out a pen and paper and write down a few topics that you are interested in.
So you’ve got your list ready now, right? OK, great! Click below for the next step!