A lot of people ask questions on forum, search engines, etc on how to choose niche that will generate good profit.
Every business endeavor takes a significant amount of time to set up it does not matter if its a brick and mortal business or online business.
Do not by fooled by the hype on internet, if you are not ready to devote your time to setting up your business the right way its a failure waiting to happen.
These steps am sure a lot of you have heard about but not just sure how to put it to use or got stuck along the way while trying to use them.
Do not reinvent the wheel: Do not go after a market that does not have history of buyers or without buying patterns. You want to investigate the market to know the number of products that is out there which are related to your niche. if your niche is pet related, you will want to know how many sites are out there on pets, discussion forums, Dvds, books, training etc. Its very important to have a fore hand information and have a feeling of what already exist in the market.
Marketing Medium: choose a market where the information is already selling how many websites, newsletters, forum, groups, etc are out there serving the market you have in mind and what are the marketing channels. These will allow you have an insight to how much it will cost you serve this market.
Keywords research: This is a topic on it own, you can not go into niche marketing without having this well thought out.
Your keyword research is very important because this is what potential customers are searching for on the internet, getting it right means you are half way in business. There are couple of tools that could help you out with these just go online to do some search.
Lets use our pet niche example, if you were to serve a pet niche your keyword research will help you identify a sub profitable niche that could be served with little competition.
watch trends: There are couple of places you could go to when you wants to watch trend, a good place to start is google trend. You be able to see the demand for your niche market, the good thing about is that it allows you to know if the niche you have in mind can stand the test of time. What you need to do is hang out around your niche and keep your hears on the ground.
Marketing Positioning: After you must have done the above, is now time to launch yourself into this niche in a unique way. Position your product in such a way that it stands out and fill a gap that you must have noticed during your research.
Every business endeavor takes a significant amount of time to set up it does not matter if its a brick and mortal business or online business.
Do not by fooled by the hype on internet, if you are not ready to devote your time to setting up your business the right way its a failure waiting to happen.
These steps am sure a lot of you have heard about but not just sure how to put it to use or got stuck along the way while trying to use them.
Do not reinvent the wheel: Do not go after a market that does not have history of buyers or without buying patterns. You want to investigate the market to know the number of products that is out there which are related to your niche. if your niche is pet related, you will want to know how many sites are out there on pets, discussion forums, Dvds, books, training etc. Its very important to have a fore hand information and have a feeling of what already exist in the market.
Marketing Medium: choose a market where the information is already selling how many websites, newsletters, forum, groups, etc are out there serving the market you have in mind and what are the marketing channels. These will allow you have an insight to how much it will cost you serve this market.
Keywords research: This is a topic on it own, you can not go into niche marketing without having this well thought out.
Your keyword research is very important because this is what potential customers are searching for on the internet, getting it right means you are half way in business. There are couple of tools that could help you out with these just go online to do some search.
Lets use our pet niche example, if you were to serve a pet niche your keyword research will help you identify a sub profitable niche that could be served with little competition.
watch trends: There are couple of places you could go to when you wants to watch trend, a good place to start is google trend. You be able to see the demand for your niche market, the good thing about is that it allows you to know if the niche you have in mind can stand the test of time. What you need to do is hang out around your niche and keep your hears on the ground.
Marketing Positioning: After you must have done the above, is now time to launch yourself into this niche in a unique way. Position your product in such a way that it stands out and fill a gap that you must have noticed during your research.