subject: Finding a Niche Market [print this page] When a person starts to do research about making money online they will definitely run across the term niche market. Some people pronounce it "nitch" market and others "neesh" market. It is crucial that you understand what a niche market is or your efforts to make money online could be futile.
So what exactly is a niche market? Well it is a group of individuals who have a common problem and they are looking for a solution. A niche is usually a smaller pocket of a larger industry.
Let's look at the pet industry. The pet industry is worth over 40 billion dollars a year. So we could look at that industry and break it down to dogs, cats, horses etc. You get the picture. You also realize we are still working on a very large industry. So we have to keep digging down. Looking at dogs we can dig down to dog health or maybe dog training.
Now we can go into forums that have to do with dog training and see what dog owners are talking about. We can do this by going to Google and typing in dog training + forum. Here we will be able to see what dog owners are talking about and what problems they are having.
This could be a possible niche. As you can see it takes up a little corner in the much larger pet industry.
So now that we know what a niche is how do we go about finding a niche market? I think some of that I already covered above but just to kind of start at the beginning we will need to use one tool that everyone should have and that is your brain. Yes you heard me your brain. So turn off your computer and go for a walk and just let your mind wander. Takes some paper and pen with you and as ideas pop in to your head write them down.
After you come up with several ideas, then you can explore them further using a keyword tool like the one Google provides for free. First you will need to take your ideas which I am assuming are very broad and drill them down into a more specific topic or niche. This process could take awhile depending on what you start with.
Once you think you have had some luck finding a niche market we need to find out if this is a viable niche.
To be viable there must be a demand or people looking for a solution and there must be supply a product that addresses the problem.
Next as a beginner marketer it's time to check and see if we could possible have a viable niche. To check if there is a demand type your keyword into Google and see how many people are searching for that each month. Now that you know there is a demand you can look for a product to sell. You can type in your keyword + product and see if there is anything. If so then you are on your way to becoming an online marketer.
