In the blog post on how to Become A Business Tycoon Oline we talked about step 2 as finding focused niche markets to tackle within your identified market.
More specifically, to be effective, you niche market must combine the following:
- Active buyers seeking to solve a problem/challenge or achieve a highly desired outcome/result in their life
- Buy multiple products, including high-end products to get the results they seek
- You identify “a way in” – that is you see a clear path to enter the market despite evidence that there are hundreds or thousands of other competitive products
Here’s a great example of a top notch, proven niche market AND a new entry method that is gaining attention.
New York City author J C Davies – first time author of “I Got the Fever: Love, What’s Race Gotta Do With It?” lept into the highly competitive world of dating – one of the most lucrative niches in information publishing, but also one of the most challenging to enter due to the level of competitiveness.Â
As is mentioned in this article, Davies has chosen to enter the competitive niche using a controversial method of discussing racial differences in dating.Â
Risky yes, but really – when it comes to entering competitive niches thinking outside of the box in order to bring new light to traditional niches in a way that brings publicity and attention to your topic is not a bad approach.
How else might one enter the dating niche?Â
- Same sex dating techniques
- Dating for 60+ seniors
- Dating guide for introverts
- Dating guide for divorcees
Each of these drills into a further sub-niche of dating (which in itself is a sub-niche of relationships) allowing laser focus on that particular subset of the market – in addition each of these topics brings with it a somewhat risky element whic his sure to get publicity and attract attention that you can use to market your product.
How can you sub-niche your topic and make it make it a more attractive attention grabber within your market?
Find the right combination and you can dominate large niche markets despite strong competition.
