“Passion to Profit” Finding Your “Targeted” Niche
What is Niche Marketing?
Focused Message – Niche or target marketing delivers a “focused” or “targeted” message to a group identified on the basis of their shared belief-systems, social or personal history or lifestyles.
Authority and Credibility – One of your main goals you need to accomplish is to establish yourself as an authority in your niche.
By picking a targeted Niche and keeping your focus on that Niche, you will establish credibility and trust in your market. This is a must to dominate your niche.
If you fail at this your competition is going to have no problem whatsoever drawing your customers over to their side.
Think about this one question. Do you buy from those you do not trust or see as a credible expert in their field?
Of course you’re not. Most people coming online have a very hard time buying from anyone at all as they are always in the fear of a big scam and ending up with no return for the investment they are looking to make.
One thing you need to know is that it is Not Always Easy – Finding the right niche for your authority website isn’t always going to be easy, but DON’T let this process stop you cold in your tracks.
There are so many profitable Niches out there right now that you should not just give up because you’re unsure about finding a good profitable Niche.
Finding you’re Niche seems to be the ending point for so many trying to get started.
If after proper research into the many possibilities you may have swimming around in your mind you are still unsure, just go with a niche that you see people making good money in already like the making money online and weight loss niches.
At least you will be able to get started and learn the process of making money online.
Just learning the process and getting some kind of result is going to be all it takes to give you that drive and momentum you need to push forward.
If you’re still looking for a topic, you may need to look no further than your own experience. You have many marketable skills and talents you haven’t seen in a marketable light – yet.
You may be saying to yourself, “But I’m not an expert on anything.”
PLEASE, think again. Everyone has life experience, training, and skills that others do not have.
Everyone knows something that others want to know, or can do something that others want to learn.
You may know how to grow the greenest and most lush lawn in the neighborhood, and it’s pesticide-free
You may be able to cook the perfect roast turkey that is praised by the whole family
You may have been told by others that you’ve raised a perfectly ethical child.
Maybe you have raised children with special needs that required you to learn and develop other skills that brand new parents that have just begun their journey with a special needs child will need to learn from you.
Maybe you’re an adoptive parent and you can shed some of your light and experiences of raising adopted children.
The list goes on and on of the experiences you may have just laying within that others need for you to share.
Tips to Help You Discover and Prosper in Your Niche Market
Here are a few things you can start to think about that may help you discover the ultimate Niche.
- Choose a Topic That Will Keep Your Interest
- What is your PASSION?
- What are you KNOWLEDGABLE about?
- What kind of talents and skills do you have?
- What are your hobbies?
Out of these suggestions let me focus just a second on choosing a topic that will keep your interest.
This is very important. Like I have said already this is not going to be easy. Getting an online business started up is going to require a lot of hard work and effort on your part if you wish to succeed.
Many people including myself have found that when you’re not doing something that excites and interests you, that when faced with the daily challenges of starting up a business, you will find yourself to the point of just wanting to give up and quit.
You have to do something that excites you in order to have that drive to want to continue to push forward.
I remember many times not wanting to even set down at the computer because I didn’t feel I was doing anything meaningful with my life.
I felt like I was just existing in in life. I needed something more that would feel as if I was actually providing value to others with what I was doing.
How was I going to convince someone else that they needed to be doing what I was doing if I was not excited about it.
The truth is I wasn’t convincing anyone at all. I even quit sending out to my list at one point because I didn’t even want to share anything about Internet Marketing with them. I was ready to go back out and look for a job again where I felt like I was at least contributing something to life again.
I don’t want to make this sound like you’re not going to be doing anything meaningful in your life by starting up a home business.
What I am telling you is this. You need to discover what makes you tick. Maybe just being able to get on a call and start answering questions and interacting with others is what it will take to really drive you. Maybe it will be teaching webinars or doing teleseminars where your teaching skills really can shine.
Just find what it is that makes you feel good about getting up in the morning and pushing forward, and what it is that makes you feel like you provided value into the life of someone else at the end of the day!
Researching Your Target Market
Now the fun begins as we take a look into the Niche to see if it is going to be profitable, and if you can come up with an idea for your product.
Choose a topic where the following three criteria can (and must) be met:
- People are looking for information to solve a common problem
- They are willing to spend money on that information.
- You, personally, are at least moderately interested about this topic.
Although the third point is optional, like I have already said, I recommend it if you are going to stay interested and motivated to promote your products for months and years to come. You have the option of choosing something you love or something that is popular. Make work fun by choosing a market that you enjoy.
So why is it so critical to identify a group of people with a common problem rather than looking for a hot product on the market now!
Well, the simple truth is that people very rarely go online to actively look for products to buy.
Much more often, they go online to search for solutions to their problems.
Once you identify a group of people with a common problem, you can start to think about a product or service you can position as a solution to that problem.
Then, all you have to do is put yourself in the way of your perfect potential customers, and set yourself up for an incredibly successful business!
We are looking for something that can be evergreen and stay around for some time instead of always looking for the next hot thing to come around. We want something that we can grow our business around.
Find a Niche You Are PASSIONATE About
What do you have a passion about that also has a large number of people willing to flip open their wallets?
We all know something that is of value to someone else, something that others are seeking information on.
You need to discover what drives you, what excites you, what makes you tick – YOUR “TRUE PASSION”.
I will say it one more time, you need to find something that will hold your interest and keep you excited about pushing forward.
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.
It is also extremely important to your success that when someone comes to your website, they need to feel what you are feeling. Your website will reflect exactly how passionate you are about your product.
If they don’t sense your passion they are not going to feel the need to stick around. Your website visitor needs to sense that you are excited about the things that you are feeling the desire to share with them.
How are you going to convince someone that they need what you have when you do not seem in the least bit excited about it yourself?
Simple answer… YOUR NOT!
LISTEN ALWAYS AND PAY ATTENTION
Now if you are still just unsure of what it is that you are passionate about, and you’re unsure of what kind of problems are going on that might need you to find a solution to that people are willing to pay for here are a couple things you can try.
- Pay attention when folks you meet start talking about their hobbies, their passions. Maybe this is something you can get started in as well. One thing you will have going for you is that you will know an expert in the Niche. The person that you were paying attention to just could be a great person to help you get going and maybe even become a partner.
- Take a look on your bookshelves, magazine racks in the stores, or in libraries. What kind of topics do you read already? What are others reading? Look at best seller’s lists.
- Watch the news. You will discover some real clues as to what kinds of problems people are facing that you could possibly deliver the answers for. In our present times you will be hearing a lot about the downfall of our economy and the vast number of layoffs.
Maybe helping people write resumes is your thing.
- Ever eavesdrop on someone’s conversation while you were standing in a checkout line? If not you should maybe start if you’re looking for a great Niche. People are always dwelling on their problems they are facing. Maybe something will spark an interest within you.
- Oh, by the way, don’t forget to look right under your nose! Maybe you are the one who everyone comes up to and tells you how great your children are and what wonderful parenting skills you have.
Become Involved In your Market
When considering a good authority site, make sure that you can easily identify the problems, questions, and needs experienced by the people targeted by this niche. (You supply the answer or the solution.)
Make sure that you choose a niche where people are ready, able, and willing to spend money.
You need to become involved with the market you are targeting. Let your presence be seen. Remember you need to be seen as an authority in your niche market.
Learn the language that your targeted market is speaking. An example of this would be if you are marketing to teenagers.
I am not saying you need to walk around talking slang like a teenager everywhere you go in order to sell them on your products. What I am saying is that you need to know how to communicate to them.
You need to be able to understand them.
Know the problems they are facing in life and help them feel you understand where they are coming from and that you and your product is the one that can help.
Your Unique Selling Proposition
Stand out above the crowd as something different than everyone else is offering.
One of the biggest and most harmful mistakes most people getting started online make is not showing their target market what makes them unique and not positioning themselves as the best choice in the market over all the rest of the competition.
You will find that there are many markets that are very competitive and it is very important that you come through shining with what makes you different than everyone else. If you are going to be like the majority of people trying to get started online, and failing miserably by using the "same as everyone else" type of marketing you will find you will quickly be joining the majority that try and fail. Your online and even offline business absolutely positively has to have a USP that you can show your potential customers by helping them cut through all of the clutter going on right now. This separates you from the competition, and positions you as the best choice... the ONLY choice and this is what you must be seen as if you are to succeed and have a long lasting online business.
As you can imagine already, building your USP takes some effort, but it is a must and you will find that it was absolutely worth every one of your efforts to create it because of the added advantage you'll have over your competition. Coming up with a strong and powerful USP will make your job of marketing and selling much easier, and will enable you to easily increase your online presence and sales.
One of the best examples of a great USP is the USP of Federal Express. Federal Express is able to dominate in the package delivering business because of their USP. "Federal Express: When it absolutely, positively has to be there overnight."
They identified a problem and a pain and came up with a solution that was unique over the rest of the competition in their market.
They knew that there were people who needed to get things shipped out and delivered overnight, and that there were not any competitive companies with the promise or guarantee of overnight delivery.
Solution: Give the guarantee which also removed the risk of using their company.
What can you offer that you see the competition lacking in. Maybe it is something as simple as offering top of the lone customer support, Offering Video tutorials in a Niche that only delivers information through ebooks, using webinar services to deliver your content, one on one coaching.
Research your competition and see what kind of holes are being unfilled and you, fill them up!
Questions to ask yourself when trying to figure out your USP are as follows:
- Will my perspective customers perceive my USP as an advantage to going and buying from the competition?
- Is my USP I am using to significantly different from what my competitors are offering?
- Do I feel my prospective customers will actually believe in this USP? Put yourself in their place!
- How will my customers benefit from this USP? You must find an important benefit unique to your product or service. You must identify the main advantage your product offers over the competition.
- Will this USP motivate customers sufficiently to actually make a purchase? Will they see that you have done your job in adapting to their needs, is your offer, innovative, does it add more value to their life, does it deliver beyond the customer’s expectations and will the customer see a significant return on their investment?
Research the current market to help you decide what format would be best for you to use in delivering your solutions to the market that is in need.
There are several formats you can use to deliver your focused message.
You may use audio files, eBooks, video, webinars, teleseminars, physical conferencing, etc.
As you do your research pay attention to what is being used right now.
Ask yourself if you have the capabilities to deliver in the same formats and also in other formats that are not being use.
Be careful when deciding upon using a method that is not being used currently in the market place.
It is quite possible that the method not being used is not being used for a very good reason. Possibly the formats being used are not accepted by the market.
If a method is not being used ask yourself why. If you do not know what the answer to that question is then it is time to do some research.
It is possible that the Niche you are in just does not know about any other formats and you will be able to rise above your competition.
If the Niche you have chosen is relying heavily on delivering content by the use of ebooks then maybe this is a great time to introduce video into your Niche
Develop a Focused Sub Niche
Look into developing an even more focused sub-niche as a means of expanding your customer base.
Break Down Main Niches into Sub-Niches
“Guitar” gives about 267,000,000 results.
Guitar may have a very large amount of competition and possibly have a very saturated market.
Also those searching for the keyword guitar are probably really not sure what it is that they are really looking for at this point.
They are just beginning their search.
Their child may have approached them and said something like, “can I get a guitar?” So now Mom and Dad begin to search for something they may know nothing about.
“Electric Guitar” gives about 15,000,000 results.
“Acoustic Guitar” gives about 14,100,000 results.
“Beginner Acoustic Guitar” gives about 37,500 results.
“Beginner Acoustic Guitar Lessons” gives about 6,690 results.
“Learn how to play acoustic guitar by ear” gives about 1,100 results.
As you can see, by breaking the broad term keyword “Guitar” down into sub-niches, you can find a more targeted niche to work with.
After searching for the word guitar with no real results that solved the problem of buying the child a guitar, the same Mom and Dad ask their child questions like, “which kind of guitar are you wanting to play? We are finding Electric and acoustic guitars which one sounds like more fun to you?”
Also knowing their son or daughter will need lessons they begin the search for lessons to go along with the new guitar.
As they search their keywords they are using will turn into keyword phrases that will be more focused upon what they are searching for.
Soon they are typing in exactly what it is that they are searching for and you want to be right there to meet them at the search bar
Another example is the Chicken Niche.
Let’s start out by just using the word “Chicken”
Next let’s break this down into a more focused Niche by just adding an “S” to the word chicken
Now let’s look into a more targeted Niche yet and let’s try “Raising Chickens”
We can take it a few steps farther and look into raising a certain breed of Chickens.
Let’s look into “Raising Silkie Chickens”
As you will notice as your digging deeper into your Niche you will find that there are fewer and fewer searches for your more focused Keywords.
What you will also notice that is more important is that those searching for your more focused Keywords are going to be more easily converted into a customer.
Take a look at the 2 Niches we just looked at…
Which one of the people searching online are more sure of what they are looking for and would have the most potential to buy once they find your website with your product?
The one searching for “Guitar”
Or, would it be the one searching for, “Learn how to play acoustic guitar by ear”
In the Chicken Niche would it be the one searching for “Chicken” or, the one searching for, “Raising Silkie Chickens”
Which one of these folks would you want to show up to your website? Of course all of them but the one that is sure of what they are looking for and is typing the most targeted Keyword phrases is going to be more ready and willing to buy.
More Niche Examples
Electronic gaming is not a niche (too broad).
- Xbox repairs is a niche (and very profitable)
- How to win at Madden is a niche (one guy earns $300K on this alone!)
Gardening is not a niche (again, too broad).
- Hydroponic growing is a niche
- How to grow bigger hybrid tea roses is a niche
The Advantages of Narrowing Your Focus to a Small, Niche Market
- There's MUCH less competition
- You can often find great deals on advertising on other sites that target your small market
- You can easily gain the loyalty of your customers – which offers you lots of opportunities to expand your offer with related products and follow-up offers!
- Small markets are much easier to dominate – so you can become the source for your product or service online
- Since niche markets are often close groups, your reputation can spread by word of mouth – offering you an ever-growing base of potential customers
Researching the Competition
Let’s do a little evaluating our competition.
Your competitor is the one in your business that has the loyal following.
There are two types of competition, DIRECT and INDIRECT.
Direct competition is a company that is basically offering the same products and services to the same market that you do.
Indirect competition is a company that offers the same products and services that you do, but offers them to a different market.
A few things to look inot as you begin your research are the following:
- Know what types of products and services are available on the market. (eBooks, software, audios, video, memberships coaching, seminars, workshops, forums, blogs, live chats, affiliate programs, etc.)
- Are their products ranging from low to high in prices?
- Does the market have a good back end? If not, can you create back-end products that people will buy? What comes first and what comes next?
- Is there major large well established competition? If so, you may need to rethink your niche. Don’t get me wrong competition is great. If you don’t find any at all there may not be a profitable market for your Niche.
What we want to be careful with is getting into a large saturated Niche that will be almost impossible trying to come up with a USP to compete.
- What extra benefits do they provide? Membership sites, forums, blogs?
- What kind of customer support is available?
- Do they have affiliate programs?
- Are their websites easy to navigate with good design formats that are pleasing to the eye?
All of these areas you are looking for holes that can be filled by you. A couple examples that come to mind would be finding a Niche that has very poor quality websites that are hard to navigate.
You fly in with your professional easy to navigate websites and dominate.
Maybe support is an issue and you can offer good support for your services and products.
Maybe the Niche knows nothing about affiliate programs and you can come in and offer a way for others to make money from your products as affiliates.
If there are only ebooks or videos used in the Niche can you do webinar trainings to better serve the customer.
Always be looking to see what holes need filled and then you fill the, This will help set yourself apart from the competition, and establish you as the credible expert in your Niche.
Research Your Niche
Research each topic on your list. Which ones have people buying digital products in large numbers online?
Here are some suggested places to look for possible Niches that you may be interested in pursuing.
Amazon.com is an amazing resource for finding niche markets you’d never have thought about entering.
- Step 1. In search drop down select books and hit “GO.
- Step 2. In the left hand navigation column, you'll notice all the different book topics. Pick one that interests you. Now, you'll notice a new set of topics in the left hand column. Pick one.
- Step 3. Check reviews. Reviews indicate a market that's involved and active, which is what we're looking for. Look for larger numbers.
- Step 4. Next, take a look at the titles. These are all possible sub-niches.
- Step 5. Next, take a look at the sales ranking of these titles. This can be found by clicking on the book cover and moving down the page to the section title Product Details. The lower the number, the higher the sales for that particular item.
*** Use Amazon.com Bestsellers – http://www.amazon.com/gp/bestsellers ***
eBay.com gives good insight to into what is selling right now and what people are looking for.
Under the category drop-down menu, select the niche you are interested in and look at the results that appear.
You will find the top 10 most popular searches for that category and the top 5 largest stores for that category.
Look at the keywords that you see for your niche and use the drop-down menu to go deeper into your niche.
Make a list of good keywords related to your niche market.
Go to eBay Pulse for finding hot niches. http://pulse.ebay.com/
Dummies.com is probably one of my most favorite places to search for a profitable Niche.
If dummies.com has a book written on a niche, it means they have identified a problem and offering a solution. (They have researched the niche.)
The Dummies Company has made creating niche products an art form in its own right.
Search through their titles in general niches that interest you and jot down potential eBook topics.
One thing you will notice by using these places to search for profitable Niches is the fact that they have already paid for the research to be done in the Niches they cover.
There is no need for you to pay for research to be done when it ha already been done and paid for already.
The key when visiting this kind of site is to just make a huge list of potential topics, and then when you’re done go and research.
If there are people searching for information on the subject, (at least five thousand a month) you’ve just found a niche topic that could turn into a very lucrative home-based business.
One more thing you can use the Article directory for is researching the competition and finding possible JV partners.
In the resources of each article you will usually find a link to a website.
Go check out the website and see if they are list building.
Usually you will find that those that know what they are doing will be using articles to direct back to a site where they will have a squeeze page set up ready to collect your name and email.
Write this person down and their contact information as a possible JV partner to help you launch your products.
You should even sign up for the list so you can check out what kind of follow up series they have, what kind of products they offer, etc.
Always be looking for ways to identify what is going on in your market.
Here is the process for researching:
- Type in a keyword related to the industry you are searching.
Let use the words “Job Loss”
- Create a list of all the questions people are asking within that topic.
Example of a question asked may be, “How to find a new job and find better job security?”
- Probe to find the hot button (people search for a how, but behind all of this there is a “why” …why does this person want to find a new job with better job security?)
Possibly because they are losing their jobs or have already lost their job (in most cases) and are looking for assistance in finding a new one.
- Next formulate a campaign from your findings. An example of a solution you could offer would be help in writing resumes if that is your strong suit or you have access to affiliate products on writing resumes if you don’t want to create the product.
You could also train on how to prepare and handle a job interview. This would be a great follow up product to teaching on how to write resumes. Always be looking and thinking about what comes next.
- Make money leveraging new avenues (like the Internet).
A great way for you to leverage the internet here would be to introduce this person into the make money from home Niche.
Show this person that they don’t need to go out looking for a job because there are opportunities for them to learn how to start up and run their very own online business from home.
Research through Keyword Use
Another way to research your product is through keyword research.
Keyword research is basically the practice of looking at what users are searching for and how they search for it on the Internet.
More specifically, keyword research helps us understand the types of things people are trying to find, as well as the words they’re using.
With keyword research, we can use measures to find out if we really should be selling our product in the first place. We can make decisions on whether we need to find a smaller, more targeted niche within our niche.
Long Tail Keywords
No matter what niche you decide on, if you go about targeting one- or the two-word search terms you will find it can be difficult and ineffective.
You will find yourself competing with big established websites, and you will most likely run into the problem of low conversion rates.
You will find that the long tail keywords, even though they are less popular, less competitive, and less searched for, will generally be able to drive a lot of good, qualified, quality traffic to your website. And that will give you higher conversions of sales.
Generally, people searching long tail keywords will become buyers. They know exactly what they are looking for, and most likely have the intention of buying.
You will likely find that the people that are just searching for the one- or two-word keywords are not really prepared to buy. They are just investigating their options.
So it will benefit you to look into breaking your Niche down into sub-niches like we talked about earlier.
Google Keyword Tool
Column 1, Advertiser Competition – This tells you the volume of people who are bidding on a particular keyword phrase. All green means a lot of people are bidding on phrases.
Column 2, Local Search Volume – This tells you roughly how many people searched for that keyword phrase in your country. If you are running this research from the USA, it tells you what the volume is in the USA.
Column 3, Global Month Search Volume – This tells you a rough number as to what the search volume looks like in all other countries.
Column 4, Search Trends
Check Google Adwords Ads
When you do a search on Google for your keyword, you will get the Google search results page.
On the right hand side of the page you will see "Sponsored Links" by Google.
These are what are known as pay-per-click (PPC) ads of your potential competitors.
If you find there are no Adwords ads, then the market is relatively un-discovered – or quite possibly it is not going to be very profitable as there is not much interest in it from advertisers.
Where marketers are paying for advertising, it usually means there is a market for the products they are advertising.
Look for some advertisers that stay at the top for a while.
Use ClickBank To Explore Your Niche And Affiliate Income Potential
The reason this is so cool, is that these are all information products, like ebooks, downloadable audio or video etc.
Visit the Clickbank “Marketplace” and do a search with your Niche Keywords
Look for Affiliate Products? The reason this is so cool, is that these are all information products, like ebooks, downloadable audio or video etc. If there is a product (or even better, several products) in the niche you’re interested in listed here, you know that there are people buying products in this niche on the Internet…
- Product ideas
- What we can do to add value
- Research Competition
- Find JV Partners
- Get noticed on Radar of your Niche
- Find options for monetizing your Niche with ready-made affiliate offers.
- Step 1 : Go to clickbank.com and search the marketplace for Affiliate Products in your Niche of Interest
- Step 2 : Type in related Keywords in Find Products search bar
- Step 3 : Research Affiliate Products offered
Check Stuble Upon Categories
Take a look at the categories that StumbleUpon offer to their Stumblers.
Look for a category closely aligned to your proposed niche,
potentially a great source of free targeted traffic to profit from
- Step 1 : Look For Topics related to your Niche
Search Magazines (Both Offline and Online)
Start out by searching for magazines within your Niche using the Google toolbar. Remember to be as specific as you can within your Niche. The deeper that you dig the less completion there will be.
Once you have searched and gotten your results the rest is just simply researching to find out what is available for you to dig into. As you can see by the next few pictures included below you just follow the trail.
With each step you are looking for products available already within the Niche and also using your research for idea generation.
Keep track and write down all of your results.
As you can see as the trail continues to unwind before you, there will be many ideas that you may never have thought of that spring up right before your eyes.
As you will see in the picture below you can uncover many things when doing your research. In the picture below you will see many possibilities that you can use and do in your own marketing that your competition reveals to you.
In the results below you will see that the owner of the website has many things for you explore.
- By the opt-in box we know we have found a possible JV partner with a list.
- Product ideas such as Video tutorials, Gardening tips, resources, articles
- Question and answer section to find out what others are asking.
- About us page for possible contact information
- Content for idea generation and possible content ideas for your own website.
Possible Niche Topics
If you just can’t come up with a Niche that you feel is profitable or are having doubts and second guessing yourself about the profitability of your chosen Niche, here are some Niches that are well established and profitable that you can choose from to get you started.
- Weight loss and dieting
- Health (or fixing health problems)
- Fitness and exercise (lifting things that are drooping and tightening things that are sagging)
- Looking good (reversing aging, removing hair, keeping hair, etc.)
- Relationships (finding then, keeping them, getting over them)
- Making money (online or offline, small business, finding jobs, etc)
- Saving money
- Parenting problems/concerns
- Personal development/self -awareness
Finding Your Niche Summary
- What are the problems that the market is facing in the niche I have chosen?
- How can I best do to help solve my niche’s problems with products and services that I may offer?
- What is that “something extra” that I bring to the market, that my niche market doesn’t have yet?
- How can I best set myself apart from the competition so that I stand above the crowd and will be noticed?
- What is different about my product or my service that I will be offering, that will cause the market to seek out my services and products?