Making Sure Your Niche Market Is Profitable
Wednesday, September 2, 2009 4:32How Do You Know Your Niche Will Make Money?
That is a great question to ask yourself when you’re looking to start a new campaign. You might be very interested in your niche topic but not enough other people are… I once saw an ad about bungee jumping when weddings! How many people would be interested in doing that? What products could you even sell? A good niche has one of two things, (or both would be better), a good volume of traffic or people with money ready to buy.
VOLUME OF TRAFFIC
A good sized market is better than a huge one. I know that you probably thought the bigger the better but you would be wrong eight out of ten times. Not great odds for starting a niche. If the market is too big then you will have to be better than a lot of people who are out there trying to go for that market. Its easier to do well in a market like chihuahua dog training than dog training. Another reason is it is easier to create an alliance with your competitors than to go head to head with them, (selling something compatible to there product).
You also want to be “The Authority” in you sub niche market. Too many people in the bigger market makes that extremely difficult to do. Of course if you already are “The Authority” in something, then you could probably get away with it… Being honest with yourself is a great thing when starting a niche market
When you are researching your niche it is a good idea to go to: http://inventory.overture.com/d/searchinventory/suggestion/ and check the amount of searches. Just so you know, sometimes the tool I just gave you to use doesn’t show up, (blank page), just try it again a few minutes later and it should work…
What you are looking for is a search volume is between around 40,000 to 200,000 a month. This is a benchmark that you will have to decide for yourself. I do know some internet marketers who have great success with only 15,000 searches a month, but they have been at it for years and know a few dozen checks that can only really be learned over time. If you are new, then I suggest you stick to my numbers.
A BUYING NICHE MARKET
Think about the mindset of your market. If your niche is “stop your chihuahua from barking” or “keep your chihuahua from chewing your shoes”, etc. then the people will probably be ready to buy. ALWAYS put yourself in your customers shoes.
You must think about things like: What is the age of my market? Are they men, women? Then you need to market to your demographic’s needs. Remember that your market must have money to by your products. If the main people who are searching for your niche are teenagers, how many of them will have money to buy your product? Of course there are exceptions to the rule. Teenagers and cell phones go hand in hand. The will by ring-tones and other things that teenagers will by that older people might not.
















