Puzzle Piece: Defining The "niche Market"

You have all heard of the infamous Niche Market! Aside from the confusion about how to pronounce niche: nee-schss, or nitch

. Whichever way you pronounce it, it means money and a successful business to you, but only if you understand how to use the niche market properly to increase your profits.

By definition, we are talking about a small segment of a larger market. A cubby hole, as it were. If you consider the top level as "sports," then every kind of sports and sports activity becomes part of a big, unqualified, niche. Try to sell a product in the "sports" market and your competition is in the hundred's of millions.

You have to keep looking for a smaller part of the niche so you have less competition and you can become the big fish in the little pond! So you don't sell golf, you sell golf balls. You don't sell golf balls, you sell red golf balls because they are easier to see and the golfer won't lose as many balls. The benefit to the golfer is: lost balls cost money and lost balls cost strokes.

You also need to find the right customer in the right market. You probably won't make many sales if you try to sell ice cubes to an Eskimo, but what if you are trying to sell those same ice cubes to someone who lives in the desert? You have a better chance to make that sale by targeting the right customer.

The necessary research that must be accomplished can be done with search engines liker Google or Yahoo or Ping. Put in your keywords and see what you get. Is there activity in the niche? Is there competition? Are there Forums, magazines or books for sale? The results will tell you if people are buying what you potentially want to sell. You don't want to come into a market or create a product that no one wants. You may be passionate about the product, but who is going to buy left handed golf balls that spin counter clockwise on Tuesdays to take advantage of the solar wind. OK, silly example, but you get it.

Another way to do your research is to go to the Clickbank market place and look at the products that interest you and fit the niche. Again, are there products in that niche, do they sell well and what commissions are being paid for those products?

All the research may be boring and tedious but it will save you time and money when it comes to sales time. Remember that whether it is your product or you sell an affiliate product, you will still need to invest the time and money in your website and squeeze page and traffic, etc., to make it all profitable and drive sales. A little time and effort spent up front finding the right niche and the right product will pay off in the end by increasing sales.

Copyright (c) 2010 Davis Fiedler

by: Davis Fiedler

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