Niche marketing is the first step that every business owner must do. Whether you a multinational or a small company, niche marketing is the only success road. Some big companies neglect to do niche market research, before launching a product. You cannot beat the big companies, but take advantage of it by using niche marketing.
Currently, countries all across the world are experiencing an economic downturn.
Millions of people are flocking to the Internet in search of ways to make money online. Unfortunately, most of these people will never attain the success that they seek.
Only a few people that are successful will be able to have the lifestyle that most people only dream about. Have the financial freedom and choose whatever lifestyle they want. If you want to be one of the few people who are successful making money online, then you must be diligent in finding a niche.
This article will show you how you can proceed in finding a niche in three simple steps.
1. Finding a niche through diligent market research
The simplest way in finding a niche is to research the industries in which other marketers are already participating. You can do this quickly by visiting these marketplaces:
• Discussion Forum
• Google Groups
Most online users already know that Amazon and Ebay are the biggest buy and sell marketplaces, but not many are aware of Clickbank.
Clickbank’s marketplace has a wide assortment of niche products in a variety of industries. A brief search will allow you to discover which niche products have the most demand through their gravity score. A high gravity score is a metric to determine the popularity of a product and indirectly the niche market. This strategy should be the first one that you implement in finding a niche.
2. Finding a niche through keyword research
Every niche market has a core group of keywords that people use to search for information regarding that niche market online. It is your job as a marketer to determine which keywords will generate the greatest amount of traffic with the least amount of competition. To make money online you need to find niche keywords.
Some of these markets are more competitive than others, so your keyword metrics may change depending on your market.
However, in order to see results quickly, it is suggested that marketers target keywords that generate at least 50 searches a day and are low in competition. You can research potential keywords in Google’s Adwords keyword tool. Google provides this resource for free and it will allow you to get a targeted list of keywords quickly.
3. Finding a niche through competition research.
If you have completed the two steps above, then you have gone through the process of finding a niche that you believe will be profitable and determined the best keywords to target for this niche market.
Now it’s time to research the competition to determine whether or not this niche can actually be profitable for you.
The best way to research your competition would be to conduct searches for the popular keywords in your niche market and see how many competitors are advertising based on that keyword.
For example, if you searched Google for the keyword “dog training” you would see a multitude of competitors advertising based on that keyword.
This is a good sign that the niche market is profitable, because people generally don’t continue to advertise if they are not making a profit. You can also take your research further by determining the average pay-per-click costs of the major keywords in your niche market.
The higher the pay-per-click costs, the more evidence that the niche market is competitive and profitable.
Finding a niche can literally be as easy as 1- 2- 3. If you follow the steps above, you will have no problems in finding a niche that is profitable and one that will allow you to take steps in the direction of the chosen few who make money online.
Make money online by selling drop ship products
Once you have found your niche keyword, you need a product to sell. The safest way is to find a supplier that can ship the product for you under your business name. This is called drop shipping service. With drop shipping you don’t need to buy any inventory upfront, reducing your inventory risk to zero.
You only purchase the product once you have made a sale online. Instead of buying wholesale, you now can have a zero-inventory business. Your profit will be the difference between the product cost and the sale price to your customer.
If your keyword is “joint pain relief”, you need to find a product that can provide joint pain relief. You may not find the right product immediately, because the name of the product is different than your niche keyword.
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