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The most difficult part of marketing is finding
the right product to market. It does not matter
whether it is your own invention or you are
looking for an affiliate product. To start out
blindly is like fishing for something, you know
you are trying to catch something but you have
no idea what it is or where to even find it.
If you want to buy a specific product that you
need to do a specific job you will go to the
right store. You are not going to find an
electric drill in a pharmacy. And the pharmacy
will never place an ad in any form advertising
to sell drills. They most certainly will not
have drills on their racks.
The reason is simple; people come to a pharmacy
to mainly purchase medicines and related items
that is why they went there in the first place.
If they wanted a drill they would go to the
hardware store.
Although there are huge stores nowadays all over
the world which sell drills to pharmaceuticals
this is not your aim as a beginner marketer. You
are not big enough yet to have that kind of
store.
What you should try and achieve is to target
your prospective clients in the niche you intend
to sell to. It is a good idea to have an
interest in the niche you are intending
promoting but it is not a necessity. If you
don’t know anything about a certain subject you
can learn about it quite easily. Having passion
for something just makes the process easier
because you already have a vested interest.
How do you go about finding a profitable niche
that you are interested in, and will make you
money as well?
Not all products and services are the same. Even
if a product seems to be a good idea at first
glance this does not mean that it will sell.
This requires some serious investigation on your
part in nailing down exactly what it is you want
to do.
The first step is to make sure the product you
want to create has a market. That means will
people buy the product and do they really need
it. Just because people search for a product
does not mean that they are buying the product.
Your first stop is
Clickbank Marketplace. Do a search for
products related to the product you are
intending to create. If there are similar
products it is a good sign because it means that
there are sales. Check the gravity of the
product to see how well it sells.
If you find no related products you should
become cautious at this point. You have not
discovered an untapped market; chances are that
the product does not have a buying market.
The next stop is at
E-bay. Use the advanced search to determine
whether or not people are selling related
products and what customers are paying for these
products. This will be a good indicator of
pricing for your product, as well as if the
investment of time and money on your part will
pay off.
Next make a stop at
Amazon and have a look at how many books and
magazines there are related to your idea, as
well as the pricing. If you find five or more
books and magazines it is an indicator that the
market is there and willing to buy.
Only now is it time to start the creation of
your product.
If you
don't find a niche market for the product or
service you offer, you will most probably fail.
Most newcomers who wish to do business on the
Internet often market to everyone they can find
with the expectation that everyone will do
business with them. This is the same as throwing
mud against the wall and hoping some of it will
stick. They have not yet found their niche
market.
What is niche marketing?
A niche market is composed of individuals and
businesses that have similar interests and
needs, which can be readily identified and that
can be easily targeted and reached.
Finding a niche for your business means finding
a great product or service for a highly targeted
audience.
Here's the process to find your niche business:
1. Find a niche product or service you are
passionate about - this will greatly improve
your chances of being successful. Why? Because
it's the only way you're going to be able to
devote the kind of time and effort to create a
meaningful web site, build up the right traffic,
generate worthwhile income, and enjoy what
you're doing.
2. Choose a niche product or service you are
knowledgeable about - reflect on what skills,
hobbies or products you know the most about. If
you don't have the knowledge yet, then choose a
niche product that you would love to promote,
then spend the necessary time to research it, so
you can eventually become an expert in your
marketing niche.
For 70 high demand, low competition niche
businesses you can start on the Internet read
the Breakthrough new eBook "Strike It Niche"
It even provides you with easy-to-use
blueprints.
3. Define your niche market - do the necessary
research to see if there is a market for your
niche product. To create a profitable business
for your niche product, you need to ask yourself
these questions:
a) Is there sufficient demand for it? - if you
choose a field that is too broad it may be hard
to stand out from the competition ie camping
equipment is your niche product. Well, unless
you are a large corporation such as Sports
Authority (a large retail store in my town), you
won't stand out from the crowd. However, a more
highly targeted niche product could be Coleman
Camping Equipment.
b) Keyword research - use keyword tools such as
the overture suggestion tool or wordtracker to
how many people are searching each month on
keywords related to your niche product.
Here's an example:
According to overture (at the time of writing
this article), the keyword phrase "camping
equipment" was searched 76164 times in one
month. If you do a search on Google.com for
camping equipment you will find 1,610,000 web
sites show up - heck, that's too competitive.
However "coleman camping equipment" generated
1242 searches in one month according to
overture. Google.com shows 93,200 competing
websites. That's much better though still
somewhat competitive.
Tip: Notice how not many web sites (even the top
ones), don't have "coleman camping equipment" in
their titles. This is just one way to create a
high ranking on the search engines for your
newly targeted web site. This will then provide
lots of targeted traffic to your site.
c) Take a survey – you may already have products
or services that you selling to your customers.
If so, ask questions within your survey about
what product/service would help your customers
business. If it can help them save time by
gaining more knowledge or automating tasks, you
could have a winner.
d) Create Your Own Unique Selling Position (USP)
- study your competition to find out what they
emphasize about the product which makes them
stand out from the crowd. Then decide on
something that will make your business unique
from the others. It could be something unique
about the product (ie discount coleman camping
equipment) or you could choose a more highly
defined target market (ie boyscout organizations
and clubs throughout the USA).
4. Build and promote your web site - to develop
a profitable web site for your niche product you
need to create a number of informative pages
that will not only attract visitors from the
search engines, but inform and move them to
purchase from your site.
Read my article, "How to Create a Web Site That
Sells"
Niche marketing is the key to developing a
profitable business that will make you stand out
from the crowd. By doing the necessary research
and building an informative web site, you will
become an expert in your niche marketing field |
