Money Making Niche Market Ideas
Money Making Niche Market Ideas
Money Making Niche Market Ideas
If you've been on the internet for any length of time then you've heard the current internet buzz about Niche Marketing. It's one of the hottest topics out there right now. The conception of Niche Marketing may be more or less new to the internet but in the day to day world of bricks 'n' mortar businesses it's not something at all new. It's actually how things have always been done. So then you might be thinking just what is Niche Marketing and how does it all work? For that matter you may also be thinking "Why should I care?"
If you have ever taken a basic marketing course in school then you have heard the time worn saying, "Find a need and fill it." This is just what discovering a niche idea, for Niche Marketing is about. You want to find a targeted group of people who have a particular interest in the niche, and who are anxious to spend money on that interest. Your aim is to ascertain a suitable service or product for these targeted people who have an interest in purchasing it. This is the marketing aspect of "Niche Marketing."
Here are just a few examples of a niche:
People Searches, Dating, Your pets, Jewelry, Golf, Cooking, Loans, Insurance, Beauty Products, Hair Care, Music, Cooking, Travel.....and I'm sure from this brief niche list that you get the idea. We could create an infinite niche idea list here. But think of this niche idea list as the key categories, as there are many sub-categories in each of these niches. No matter what topic you think of you'll no doubt be able to find a niche market for your niche idea.
Yet in discovering a niche idea for your niche market that will help you to do well you need to ascertain a highly focused niche. Should you focus on too broad of a market when attempting to hit upon a niche idea then you're faced with tough competition which makes it extremely challenging, if not unfeasible, for the average Joe or Jane to get a foot in the door.
You're eliminating the heavy hitters and big dogs in on-line marketing when you narrow down the market size with your niche idea. These guru marketers have countless ad dollars yet in picking a tight niche market you're basically setting yourself up for success as these big dogs aren't interested in earning a couple thousand dollars each year from these micro niches. Their interests lie in making millions in the foremost mass markets. So in researching your niche idea judiciously and making the right choice you're well on your way to micro niche success.
And unlike these heavy hitter marketers if you're one person going it alone on line there's no way that you can be everything for everybody, so picking a micro niche idea to focus on makes tremendous business sense. For example instead of choosing the dating niche, focus on "Seniors Dating" or "Gay Dating" or "Asian Dating." Are you starting to get the idea now? No matter what niche idea you come up with, chances are that you can narrow it down to many more micro niches. You could even narrow it down to your local market as in "fly fishing lures in Los Angeles."
The Micro Niche Idea Competitive Edge:
As soon as you've narrowed down your niche market idea into a micro niche idea you now have a great advantage over bigger companies. Here're a few of the reasons why you now have that advantage:
In a micro niche you can promptly establish yourself as an expert in your field, if not already one.
In a micro niche market it's much simpler to stay up to date on the market trends
When transformations do happen in your micro niche you are able to react much more rapidly
You'll be in a position to build tight relationships with key customers that competitors can't beat.
So if you're now wondering how to get started in discovering a micro niche to market there're some things you can do that will only cost you some time and not a penny. Of course there're more sophisticated micro niche idea software tools on the market that you'll probably want to explore in time.
I like to use the Google Search Based Keyword Tool
.
Working Through the Steps to Your Micro Niche Idea:
Let's say that you want to check out a micro niche idea for fishing. Type in the broad term "fishing" in the KW tool will bring up a list of more detailed "fishing" related keywords such as "fly fishing", "fishing tackle", "fishing boats" and the list goes on. Now the key in discovering a micro niche idea with less competition is to scroll down to the searches that show about 1000 searches a month for those keywords. This will bring us in to terms like "daiwa fishing reels", "saltwater fishing tackle", "bass fishing tackle" and so on. Now you see that within the broad niche of "fishing" there are various micro niches to be found. With at least 1000 monthly searches you can be sure that there is an interest in your micro niche idea and the competition won't be so difficult that you don't have a chance in the market.
In researching your micro niche idea and having done this you've taken the very first step in uncovering a lucrative micro niche, the research. And once you decide on a specific micro niche idea you've fulfilled the second step, finding an acceptable product or service to market. With steps 1 and 2 out of the way the third step is to set up a website or niche blog so that you can market your micro niche idea. And once you're set up and running then you need to find a marketing, advertising and promotional strategy that works for you and stay consistent with it.
When you get your first micro niche idea site launched and have learned just how uncomplicated it all is then you can duplicate this process over and over with various other micro niche ideas. Imagine if just one micro niche idea site were earning you just $10 a day. That's $3650 a year. Now think of having 10 sites earning the same or 20 and how much you could earn yearly. The overall cost for all of this would only be the cost for each domain and your hosting service. You can find web hosting that hosts unlimited Word Press blogs for under $10 a month.
Things to Consider:
If you're a veteran online marketer then you know it's not as straightforward as putting up a site and expecting the consumers or traffic to come. And if you're brand new to on line marketing you should know right now that in order to show a profit you'll need to work at this, learn marketing strategies to get traffic, and stay on top of your business to attain success. Just like any business, if you put in the hard work, the benefits will follow.
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