Finding a Niche Market

Wow, what a subject but here goes.

Just to set the record straight a Niche Market is a group of people all interested in the same topic. As the saying goes: If you can plug into it, you’ll make money. But will you? There are a few questions you need to ask.

1.      Is the market large enough?

2.      Is there scope?

3.      Is the market too technical?

Let’s look at the first one. Is it large enough? You’re going to spend a lot of time doing research, blog posts, article writing, sourcing or creating products and building lists. Is there enough in that particular niche market to warrant volume or will your sales be limited.  Selling is a numbers game; the more in it, the more you’ll get out of it. Unless of course you have a sure fire winner or you’ve got a high ticket price.

Is there scope in the niche for more products after your first? Try and think two products ahead and you won’t go far wrong. For example how many products could you offer a Beekeeper? Some, but not many. How many could you offer a person who keeps tropical fish? A huge amount: including types of fish, plants, tanks, rocks, breeding, equipment or how about a DVD on setting up an aquarium. There must be scope.

Is it too technical?  How about ‘The Association of Brain Surgeons’, boy I think I’ll let that one go :-) But seriously, unless you’re an excellent researcher don’t get into the technical ones. It’s too time consuming and time is money plus you‘ll get found out and your credibility will disappear along with your wallet.

Consider this: ‘Follow your passion and you’ll do ok’. But will you? Is there enough money in it? You might be passionate enough and knowledgeable enough to write a one hundred page eBook and produce dozens of reports with hints and tips, but are there enough people in your chosen niche market that share your passion?

Find your market and work your market. Build your list; build your relationship with your list. Send them free reports, hints, tips and reviews. Use a common sense approach, be nice, be authoritive but don’t be pushy. Become an expert in your niche, someone to trust. Become more personable on your eBooks by including a photo if you’re an attractive person or if you’re like me and look like a ‘bulldog eating a wasp’ forget it :-) only joking…I think.

Finding your niche market can be fun. Here’s a tip: If there’s a well known person (celebrity even) writing in a market, there IS a market.

On a lighter note, my favorite niche is golf and when I started to play I said to my instructor “I want you to teach me how to do a fantastic golf swing”, and he said “How flexible are you”? And I said “I can only come on Saturdays” :-)

What??

Remember: If you do nothing you get nothing, so do something.

Keep Smiling,

Barry

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4 Responses to “Finding a Niche Market”

  1. hey lovin your blog, its full of great of information which is very helpful!!

    Im one of the masterclass students

    Good luck

    Paul

  2. Good blogging – lots of useful stuff. keep up the good work.

    Follow me on twitter – thomasaspin

    Regards

    fellow masterclass student

  3. Hey Barry , Denise here from the master class just checking out your blog. Love this post thank you for sharing.

    check out my blog for some free ebooks
    http://deniseasinclair.com/20-free-internetaffiliate-marketing-ebooks/

    Regards Denise

  4. Hi Barry,
    Nice post you made here. Useful and easy to read. I like the funny parts of it.

    Keep up the good job
    Mostafa

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