Making Money Online - The Secret To Choosing A Profitable Market Niche
Making Money Online - The Secret To Choosing A Profitable Market Niche
Wouldn't you like to make money at home - sitting in front of your computer - maybe even become your own boss? This article reveals the single most important thing you need to do to become a successful Internet entrepreneur and provides tips for achieving it. As you will see, one of the biggest keys to money making on the internet is called desperation.
If you're new to making money online, the single most important thing you can do is pick a good niche - one where you can compete effectively and earn money.
What exactly is a niche?
Simply said, a niche is a group of people bound together by a common interest or common need. For example, making money on the Internet is a niche. So, too, is gardening, dog training, weight loss, anti-aging, and muscle building. As you can see, all these examples have one thing in common-they are a shorthand way of identifying people who have a common interest.
Most Internet marketing experts will tell you that the best niches are those made up of "desperate buyers."
People who are really anxious to lose weight would be desperate buyers. Young adults looking for an answer to their acne would be desperate buyers. So, too, are people suffering from chronic headaches.
Niches that are too broad
While weight loss is a good example of a desperate buyers niche, it is far too broad and much too competitive. A better niche within the weight loss category might be something like weight loss for teens. In other words, if you want to create a moneymaking site in a niche such as weight loss, you need to "drill down" to find a narrower niche within that niche where you can compete more effectively.
What are your passionate about?
An excellent way to pick a niche is by selecting something that interests you or something about which you are passionate. For example, if you live to garden then a niche within the gardening category might be a good choice.
Define by demographics
You can also pick a niche by defining a set of what are called demographics or characteristics. Demographics, of course, are factors such as age, sex, and geographic location. Other demographic factors are income and presence or absence of children in the house. For example, one set of demographics would be stay-at-home mothers, age 30 to 40, with a household income of $60,000-$70,000 and two or more children living at home. Once you do define a market this way, you should be able to think of what would interest those women-which would become your niche.
Turn to Google for help
Finally, you can sometimes find a niche by searching Google on the term "how to." This will show you the kind of help that many people are searching for. You might find a niche for something as simple as "how to "preserve vegetables" or "how to repair bicycles."
As a general tip, try to find a niche where there are people who have both a common need and who are willing to spend money. Once you identify a niche with these characteristics, you will be well on your way to making money on the Internet.
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