Entering into the fascinating and often lucrative world of internet marketing begins by understanding the concept of targeting a niche market.
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According to the pros, dont waste your time attempting to target anything else! After spending countless hours of learning from some of the best internet marketing mentors, it is clear that they all teach this as the key to your targeting efforts. Dont re-invent this concept when it works so well. So lets take a quick look into this.
First of all, what is a niche?
In terms of successful internet marketing, a niche is, in its simplest form, a group of people, typically known as members, with a common interest. For example, a group of people who have an interest in training show dogs.
Second of all, what constitutes a potentially good niche?
In order for a niche to be worthy of selecting it must have members with defined needs and wants that can be met by products or services that those members are willing to purchase. Let’s take a closer look at what that means relevant to our dog training example used above. Defined needs: they will all likely need to know what the basics of dog show training are and probably all want to know what the best trainers in the world do – what are the secrets to their great training techniques. To meet those needs an example of a great product would be an ebook that explains the basics of dog show training and to satisfy their wants, perhaps a video of an interview with one of the world’s best trainers. Finally, check to see if there is an indication that these members would pay for these products. If this combination of attributes exists, then you can proceed with a plan to target that market.
Next, how do you find such a niche on the internet?
There are several ways to find a niche market including studying magazines, general directory of websites, watching infomercials, reading direct mail etc. If you are truly interested in learning the details of each of these methods, I recommend you find a great internet marketing mentor. If you just want to do it on your own for now, use these ways to start your search by trying to see recurring or popular trends. For example, go to ‘training dogs for show’ websites and see if there are many sites, do these sites sell relevant products and services? Are there show dog training magazines? Using all of the resources mentioned above you should be able to determine whether your chosen area is a niche you can target market.
Finally, how do you pick a hot niche?
You need to learn how to check traffic inventory (how many members go to the show dog training websites, for example), survey what is known as the shotgun splatter effect, analyze the average sales price in that niche, search for competitors, avoid oversaturated markets and then, decide if that niche is likely to have other spin off niches that will be of interest to the niche you are considering.
Once you have made your selection you will be able to market to the members of this niche over and over again. Sound like fun? Get yourself a great mentor if you need to learn more. It is my passion and hobby to seek out internet mentors on a variety of topics that interest me, so I know there are great ones out there on this topic.
Good luck with targeting your niche market!
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