Finding a niche market for your online business should be the same no matter what your business model shouldn’t it?
Not exactly, a common mistake is to treat all online businesses (information marketing, amazon affiliate, selling your own services, ad-funded model, e-commerce, etc… the same when in fact they are not the same and how you uncover demand is very different.
Finding A Niche – BIG Difference
The first question I ask people when they request help finding their niche market is – “Finding a niche for WHAT! “
In other words, what “type” of online business appeals to you?
Would you like to build a store-front, e-commerce business that passes through items to your target market or would you rather sell information and answers to help your target market achieve what they want?
Do you see the difference?
One market jumps online looking for very specific products – “a Model X, Y, Z Food Processor” while the other market jumps online looking to solve a very specific challenge (lose weight, gain confidence, start a business, etc…) – where you want to place a solution in front of them.
If you want to find demand around a physical product where you will sell as an affiliate (Ex Amazon affiliates) then look to 1) What is already selling and 2) Hot new products that are in demand. For example, we recently sold a camping site that sold physical items extremely well, same thing for a yoga mat site – both were taken directly from researching what was selling and then dominating the searches around those items.
On the other hand if you want to find a niche for information products (ebooks, courses, membership sites, etc…) then you want to look for desparation usually quite evident around either 1) Getting rid of something painful (medical conditions, fat, shyness, etc..) or striving toward something (new business, better financial investing results, sweeter golf swing, better relationships, etc…)
Two very different ways to track down a niche based entirely on your desired way of monetization.
