How to Find a Killer Niche to Sell to

When creating a product the first thing you must do is choose what type of niche you’d like to enter. Obviously, to have a product we must first find it a home. Somewhere people will find it and purchase to solve their problems. Finding a niche is one thing but finding a KILLER niche is a whole different ball game.

First, we need to define the term niche. Wikipedia says:

A niche market is the subset of the market on which a specific product is focusing on; Therefore the market niche defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact.

An often used technique for affiliate marketers. By seeking out smaller segments of larger markets, referred to as niches, a website can be developed and promoted quickly to uniquely serve a targeted and usually loyal customer base, giving the affiliate a small but regular income stream. This technique is then repeated across several other niche websites until a desired income level is achieved. A bigger niche is harder to market to as the expense of online advertisements increases according to the popularity of the keywords used on Adwords for example. Many niches are becoming saturated with marketers, increasing competition reduces the slice of the pie available to each according to classic “supply and demand” economic theory. The secret is to find smaller “undiscovered” but still profitable niches, usually by searching out the best keywords to target. These lower cost keywords are called “long tailed keywords”, as in the long tail of secondary keyword phrases which usually follow the main keyword in popularity of number of searches conducted by internet users. Some are too obscure and may have very few or even no clicks per month, and therefore not much use to target. You can see the keyword search popularity by using this free keyword tool provided by a certain search engine.

In other words: A niche market is a little piece of a big market where it is suitable for a person to enter, establish themselves and solve a problem in the form of offering a product to sell.

A great example would be the cell phone market. Obviously you can’t enter a market that big because it would be impossible to compete with the other manufactures. To find a niche inside the cell phone market we need to go down one level and look at the cell phone manufacturer and the products they provide. Now we’ve focused in a little more but we could go even more by looking at a specific manufacturer’s phone categories such as smartphones vs. regular phones.

Instead of entering the cell phone market we could enter a specific manufacturer’s smartphone market and be in a much more suitable niche because of the smaller size and competition.

You need to think about a large market and try to zone it down as much as you can to find your niche. We do this because we cannot compete in giant markets so we must start small and work our way up!

There are a few things you want to do when trying to evaluating a niche to see if it’s right for you. First, you must…

Find a Problem

Your main goal should be to find a problem in the marketplace and solve it. That is the exact definition of an entrepreneur! They solve other people’s problems for a profit in a specific niche.

Make sure you sell the cure to their problem, not prevention. People will often pay much more for you to solve their problem than for you to prevent it.

Ask yourself, “What problem are you solving in the marketplace?”

A great example is Spyware Remover. It solves the problem instead of preventing it.

Find a Need

Go into a niche with the intention of finding a need or want; something the consumers in that niche would be willing to give up their hard earned dollars for. Your main intent should be to find a need and fill it. You’re the problem solver here!

When researching your niche you also want to find out if the people in that niche are spending money or not. You could have found a “perfect” niche but if no one is spending money in it it’s pretty much useless. A great way to discover this is to acknowledge the competition and see how they’re doing.

Ask yourself, “Are there potential customers that my competition is looking after?”

Find the Time to Listen

The greatest way to find out if a niche is worth your time or not is to go inside it and listen to the conversations taking place. Find out what the people in that niche are talking about by visiting discussion forums and blogs. Listen to them carefully and figure out what they are missing or complaining that they don’t have.

Ask yourself, “What conversations are taking place in the marketplace?”

Find the Future – TODAY

Always try to be one step ahead of the game by knowing what’s coming next. What trends do you see appearing in the marketplace? Can you predict where they’re going to go next?

Take a look at Google.com/trends and take a look around to predict where your niche is going in the future.

Ask yourself, “What’s the NEXT great thing?”

Find an Affiliate Program

Head on over to Clickbank.com and sign up for an affiliate account if you haven’t already. Search for your niche in the Marketplace and sort the results by High Gravity. This will sort the results by best-selling to worst-selling so you can see what’s actually making money and what isn’t. If there are products with a gravity of over 75 they are selling relatively well which tells you people are spending money in that niche.

Look for proven products with professional sales letters and document what you notice about them.

Ask yourself, “Does the Merchant provide me with all the necessary marketing tools?”

The Niche Formula

There is NOTHING more important than choosing the proper niche – NOTHING.

It seems like beginner internet marketers almost always take the “shoot-fire-aim” approach to choose what to sell and who to sell it to.

They’ll go to great lengths to create a product – write a book, create a membership site, audio program, etc – and then they pay to have a site created, graphics done – all the stuff you have to do to get up and running on the web.

They work feverishly to get everything setup just right. At the same time they’re studying the marketing techniques taught by all the “gurus”, etc. And then when they finally get things up a running…

Crickets chirping….Nothing. Nada. Zilch. Zippo.

Why does this happen so often?

Because they didn’t take the time to study the market and find out that there was NOT a market for what they’re selling.

CLICK HERE TO CHECK OUT THE NICHE FORMULA AND DISCOVER A RED-HOT NICHE IN SECONDS

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