Selecting The Right Niche
I wanted to share with you some specifics about selecting a niche market to target. This is generally the starting point in any marketing campaign and one that you need to have a good understanding of.
Many people make a mistake when they sell a product. They first develop their product and then try to find a market for the product. The key is to do things the opposite way. Find a market first then spend time (and sometimes money) to find out what the market wants and offer it to them.
It is certainly easier said than done, but there are a lot of places online where you can go to help you research your chosen market for free. They’ve done most of the work for you already. You just need to know where to go and know what to look out for.
Researching before choosing the niche
Make sure of the following things while you are researching for potential in your niche
1) See if you have an interest or passion for the niche. Think if you can develop an interest for the field. If you think you that is not possible, it’s better not to get into that.
2) Identify if it will solve any problem or if people will be interested in your niche.
3) Understand how big is the market and the competition you will have in the market.
5) Find out the products that are sold well in this industry. See if you can sell anything similar.Find out what you can do differently with those products.
6) Do a thorough competitor analysis and find out their selling methodology. Find out if you can make profit in this niche.
There are a number of places you can search to help determine if your niche is going to be successful or not. Some places to explore include:
– niche magazines
– TV and radio
– Catalogs and mail order – subscribe to newsletters, purchase inexpensive products, get on mailing lists
– Search Google Trends
– Checkout Amazon hot sellers
– Searching online forums (simply type “forum: YOUR NICHE” into Google)
You need to be aware of trends and current events in the real world that can then translate into opportunities online. Read several newspapers and stay in tune with the news in your local area as well as globally. There are so many niches out there. Target the right ones which show strong demand and a willingness to purchase and you are setting yourself up for a winning campaign.
Good luck in your niche selection!