These days everywhere you look on the internet people are talking about “Niche Marketing” and how by identifying a niche you can make lots of money. However, what is seldom discussed is what exactly a niche market is. Now, as it happens a niche market can be defined is several different ways but for our purpose, which is to make money on the Internet, this is a pretty comprehensive definition:

“A niche market exists when a lot of people are searching on the Internet for information on a very specific topic, and they can’t find an answer to their questions.”

If you can answer their questions, then you have a Niche Market.

Another way of putting it is “Look for a niche an inch wide and a mile deep”. This means, look for a topic that is very specific (an inch wide). For example photography is too broad, but landscape photography isn’t. This topic must have lots of scope to provide a depth of information so you can have multiple products (a mile deep). For example you could provide information on specific techniques, using digital or SLR, night photography in the bush, how to set up a landscape photography business, how to save money on framing, how to get free publicity for photographers etc . The list goes on.

How To Start Identifying a Niche

The first place to start is with your own interests or passions. If you decide to create a business around marketing and selling information products on a topic, you are going to be immersing yourself in that topic. So make sure you enjoy it or the fun will fizzle out pretty quickly. And really, life is too short to be doing something that isn’t fun!

Start making a list and keep it somewhere obvious so that every time you come up with an idea or a topic that you like, write it down before you forget it. Ask your friends what things they think you are good at or have a lot of knowledge of and write these down too. You might be surprised at what they come up with.

You should also look for ideas in magazines. The fact is that the popularity of a subject can be assessed just by finding out how many magazines there are devoted to that subject. The easiest way to find that out is logging on to www.isubscribe.com and having a look around. Once you see some subjects that interest you go to your local library and have a look at back issues to get a feel for what these magazines are publishing. Look too at the letters page as this shows the sort of subjects that arouse most interest or passion or complaint. The object here is to identify some topics you can explore.

Another place to look for ideas is at http://pulse.ebay.com/. This excellent resource tells you which topics are searched for the most often on eBay and you can drill down through different categories to really get some valuable ideas on how to narrow down your niche.

After you have been doing this for a while you’ll start to see ideas and opportunities everywhere! Really, the possibilities are endless.

Carry a note book with you so you can quickly jot down ideas as they occur. A conversation you have, something you hear on the radio, even something a child says, can trigger an idea once you are in the entrepreneurial zone. Grab them quickly and write them before you forget. When you get home, add them to your list.

So get to work. The next step will be to see if there is a demand for your ideas, but that’s a topic for another day.

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Category: Marketing

2 Responses to “Identifying Your Niche Market”

  1. James Green says:

    I’ll get back to you on this later. At the moment I’m stuck in a major project for a client so time is limited.

  2. Renee says:

    I have a niche, I have the site, I have the blog but how do I get the traffic and how do I get affiliates? Any critique of my project would be greatly appreciated!

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