Home Based Business - What Is A Good Niche, Anyway?
There’s a lot of talk about niche marketing on the internet. And with good reason - there is good money in the niches. But only if you can find a “good” niche.
Without getting that right, your online business is not likely to be particularly profitable.
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So what is a GOOD niche?
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What are the indicators that a niche is “good”, which for marketers means “profitable”? What should you be looking for when you are in the process of selecting your niche market?
1. A good niche is one that already EXISTS. That is to say, you don’t have to try to create the demand. It’s already there in the market place. You can see it, for example by going to google.com (or your favorite search engine) and searching for the key words Perhaps you can even measure the niche. One way to do that is with a count of the number of people who entered the main keywords into a search engine over the last month. There’s no guessing here.
2. A good niche is easily IDENTIFIABLE. Children with asthma is an easy to identify target market, whereas people who rub olive oil onto their potatoes before they roast them would be a lot harder to find. Just for laughs let me go out on a limb here and say that there might be more olive oil cooks than asthmatic children, but where do they congregate? Where would you go to meet up with the olive oil cooks as a group? - which is something you must do if you are to be able to reach them. And that leads on to the next point…
3. A good niche is easily TARGETABLE. Young men who ride bikes competitively on the weekend are easy to target - through their bike clubs. Home brew fans can be contacted through the vendors who sell them their brewing supplies. On the other hand, there might be a huge crowd of people who draw pictures of clouds but how would you find them? Through art supply shops maybe, but what I’m saying is that good niches are EASY to target.
Get the idea?
The big underlying question so far is whether your home based business can connect with your market, because you cannot serve them if you cannot connect with them.
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Part 2: What is a REALLY GOOD niche?
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4. We can now go a little further and say that a great niche is narrow in focus but BIG IN POPULARITY. The more people in your niche, the more profitable it can be — other things being equal (and they aren’t always).
5. Better still, you want your prospects to be PASSIONATE.
6. Lastly, you want to be able to reach the consumers in your market economically, so there is adequate profit left at the end of the day. If it costs $4 to reach your average customer and then you make $4 from her, that’s plainly not what you’re looking for.
Niche marketing is the most targeted marketing there is, and can also be the most profitable. Use the in this article to help assess any niche you are considering going into for your home based business.
Finally, a suggestion…
Make today the day you ACT ON what you have learned in this article.
