Finding Your Niche Market – 4 Simple Tips

Nothing stops you in your tracks faster when building your online business than struggling to find your niche market.

Here are the common challenges with finding your niche:

1. I just can’t seem to come up with niche ideas
2. Hot niches seem to be already taken and are just too competitive
3. Are the tiny markets the most profitable niche markets?
4. Do I focus on one large niche and build deep or do I pick many niches and work through them? 
5. What do I do next after finding a business idea?

These questions, and others like them, cause uncertainty, anxiety, fear and slow your progress down on your online business building to near a crawl.  Some people never recover giving up on their web business dreams altogether.

I hope you aren’t one of them?

4 Tipos For Finding Your Ultimate Niche Market

When someone asks me how to find niche markets, the first two things I make clear to them are:

1. We are MORE interested in proven, hot niche markets than we are in hidden, tiny markets…while there may be more competition, we know there are people buying and we should have confidence that we can out-market the majority so we can capture a good share of the profits being earned from those markets.  In fact, the extensive tutorials within InfoMarketer’sZone give you the unfair advantage you need to compete to reach the top with your web business in very little time. 

2. We need to always go into our niche research with niche products in our mind.  In other words, we always favor finding niche buying activity rather than just niche demand. 

With those two points made, here are some tips you can use to narrow your search for hot niche markets.

1. Start by looking at product buying activity.  Whether your objective is to develop a niche information product or setup a niche website for selling physical products such as golf clubs, barbecues, yoga equipment, etc…it all starts with knowing what products are selling.  For digital information products you want to look at Amazon books and examine the top selling categories right down to the most popular titles for ideas (you can do the same in Clickbank, Commission Junction, eBay, etc…) and for physical products you can again use Amazon or Commission Junction or eBay to look at top selling categories and products.  By focusing on products you at least know you are picking niche markets where money is changing hands – then it is a matter of putting yourself between the hungry consumer and eager supplier (you in the case thatyou create your own infoproducts)
2. Find signs of demand, but don’t be too rigid here in your criteria.  Look, tools like Market Samurai have emerged that make keyword research and website competitive review more of a science.  You can get very detailed information and conclusions from this tool on long-tail keywords associated with your niche market and even get an assessment on the level of competition using various criteria that include the use of the keyword in domain names, keyword density, backlinks of your competitors, age of their domain, etc…

This is advanced stuff, and yes, eventually getting into the bowels of niche research where you know everything except the mole on your competitor’s butt is useful stuff, but really this is the last 10% of being effective…so get started by looking at some very basic factors like:

a) When you do an exact match search on Google for your keyword(s), how many results do you get?  If you get fewer than 30,000 then the keyword is not likely all that effective, you can rank highly, but it may not be worth it.  If you get more than 500,000 (remember this is an exact match search), then it will be very tough to rank in the top couple of pages for this keyword phrase. 

b) If you are in a range from 30,000-500,000, then look at the top 2-pages of results noticing factors like their domain name, how many pages of content (roughly) their site has and check backlinks using the Google tool. 

Remember that to beat your competition you will create content that will beat your competition to the top spots on Google, using a few  simple SEO techniques this can usually be easily done.  However, if you find that the top couple of pages are held by sites that have huge content sites, thousands of backlinks and the keyword is in their domain name, you may not stand a chance.  In most cases this will NOT happen.  If it does, then a way around it is to find an equally good keyword phrase where your competition is not as strong.

If you want to see these techniques being used and want to access our help via a private mentor’s forum as you build your web business, then head over to InfoMarketer’sZone and join today. 

3. Work deeper into a category.  Let’s say you go to Amazon and search under Golf Clubs to find the hottest selling clubs, as you examine the results, you notice that the #10 top selling set is a Junior Golf Club set – now that can give you a sub-niche that you can focus on similar to women’s golf clubs or men’s hybrid golf clubs…these can give you a segment of the market that both aligns with hot selling products (Amazon told you so) and where you can better compete to sit high in the search results. 

4. Work upward from a specific product. Another approach to picking a niche is to work backward from a known hot selling product.  For example, you see that the Big Green Egg is one of the hottest selling trends in BBQ’s today, can you work up one level and identify a category of BBQ’s into which the Big Green Egg falls?  How about Best Charchoal Grill?  That’s a definite niche market, not as unruly as targeting all BBQ’s, but not a single product category either.  The same can hold true with information products…start by looking at the top selling books on Amazon non-fiction topics or on Clickbank and then think to yourself, can I target a wider segment?  So if you see a guide covering Heroids, could you work backward and create an ebook on Embarassing, Painful Skin Conditions and cover a few different topics? 

As you can see, finding niche markets is really not that tough if you know how to go about your niche research.  Dig in and get your hands dirty, you will be amazed at what you uncover.