Picking a niche market that will make money on the internet is a tricky exercise, and more often than not, people are getting outright FOOLED!
Each week I have dozens of people come to me within InfoMarketer’sZone looking for advice on how to find a niche market or how to turn their chosen niche market into profit…and therein lies the critical success factor for choosing niche markets.
NICHE MARKET DEAD-END’s
Your goal for picking a market and starting an internet business is presumably to make money – and ideally, lot’s of money without killing yourself right?
And it stands to reason that you want a crowd of hungry people that are eagerly interested in something to target as your niche market…may as well tap into demand, correct?
Right so far…but here is where the mistake is often made.
Just like a dog chasing his tail, you can chase hot niche markets until you are frustrated, broke and dejected and still not make a buck, and unfortunately, that is what many people do.Â
Here are a few examples of niche markets that may “seem” like good targets, but will most likely result in a Dead-end result:
1. World Cup. Millions and millions of people are hot about the World Cup – searches are extremely high and websites are popping up everywhere, so it seems like that would be a good trend to ride correct?  No – for two main reasons. First, do you know how you would monetize hundreds of thousands of users who have an interest in the world cup? What would they buy? Are you sure they aren’t just looking for game information? And second, how long will that trend last…about another 3-4 days in my estimation…that isn’t even enough time to begin to draw in traffic even if you could get your site up today.Â
Bad IDEA!
2. Summer niches – swimming, sunbathing, etc… Again, lots of searches but extremely unclear how you would monetize these niches – you would be better to target specific things that people BUY in the summer like jacuzzi’s, pools, barbecues, etc…
3. Weight loss…what is the challenge here? No it is NOT competition, it is that your niche market is not specific enough. Don’t get me wrong, I love the sub-niches within weight loss, but targeting overall weight loss is not what people have in mind when they jump on the internet. Instead, they have in mind “toning their legs”, “getting rid of belly fat”, “building six-pack abs”, etc… Ask yourself, is your niche too general? Can you target a more specific RESULT for a subset of people within your niche?Â
NOW…GETTING GREAT AT PICKING HIGH PROFIT NICHES
You may be seeing the pattern from reading about the niches that turn out to be BAD ideas…
To succeed wildly your niche market MUST be organized around:
1. An existing desire for something that costs money…
A hot niche to me is not a topic that is just seeing a lot of buzz or search activity, you can go poor VERY quickly chasing after these niches — instead, go after niches where there is evidence of MONEY changing hands.
What is selling? Either physical products or information products – what is moving and what is not – THAT will tell you which niche is hot from a money-in-your-pocket perspective.Â
Or — you could choose to go the ad route, in which case you want to study where ad spending is happening. If you check Google Adwords and see that people are spending 3$, $4 or more per click, then it stands to reason there is more ad revenue opportunity in those niches – cha ching!
Go where the money is flowing NOT just where the traffic is going…follow the money trail.
The first several trainings in the 6-week Information Product Profit Secrets training course inside InfoMarketer’sZone walks you through a dozen or so ways to uncover existing buying patterns on the internet so you know exactly what people are spending money on…a massive advantage for you to step in and immediately begin to take part in an active niche making profit right away.Â
2. A specifc desire for a RESULT
We humans are peculiar creatures, we constantly long to be different, better, experience less pain, overcome limitiations we are convinced we have…and we will go to the ends of earth to make that happen!Â
When we work with ebook writers and information product creators they are often amazed at how irrational and strong the desire is for their products once they tap into the right niche and hit the right marketing buttons – it all comes down to targeting a result that a particular market wants backed by strong emotional attachment.Â
Believe me, for anyone that has tried everything to market a product or service on the internet and can’t muster more than a few sales, you will be amazed when you put the right product in front of a hungry audience how easy making money really becomes.Â
What result do you target with your information product or online niche business?Â
If you can’t answer that question easily, don’t undersatnd fully how to identify these emotionally charged desired results within markets or can’t undersatnd if your targeted result is missing the mark, then I highly recommend that you step inside Infomarketer’sZone, take the InfoMarketer’s Product Profit training system and you will have a skill that you can use forever to identify and monetize hot niche markets.
