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Small Niche or Large Market?

by Jimbo James
12 replies
I'm a newbie and i feel like i have been torn in two.

I read that its important to target a niche market, a starving crowd. Then i read you must target a market that is already making money such as the weight lose market???

Any feed back would be much appreciated.

I'm chomping at the bit to get started.

Jimmy
#large #market #niche #small
  • Profile picture of the author cellcom
    Jimmy - here is my recommendation, hopefully it will make sense to you:

    "It is much easier to get a small piece of a Huge Market, than to dominate a small market"

    And, never be afraid of competition. I would be more afraid of a market that no one is in because that tells me there is no money to be made there.

    Hope this helps
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    • Profile picture of the author Marc Meole
      Don"t worry about competition..it will always be there...The more competition, the better the market.

      Pick a large market....ie..your example of weight loss...

      Now pick a couple of smaller niches within that market...

      Find or create a product to promote for each smaller niche

      Build your lists, and your customers...then cross promote the products

      Larger niches have tons of sub niches you can do this with...
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    • Profile picture of the author Daniel Brock
      Here is my take on it.

      There are plenty of small niches out there where you can dominate pretty easy.

      But the thing about these smaller niches is that it is harder to turn it into a 'business'.

      Sure, you can make good money at it. However, you have to look at what all you can sell. If the only thing on the market is some sort of cream for example, then you can't really go far with it.

      After all, once they apply the cream and it fixes their condition, what more do they need to buy from you?

      However, with niches like weight loss there are literally endless amounts of products out there.

      Machines, ebooks, video courses, dvds, coaching programs, etc.

      You can turn these into a business because there is so much you can sell.

      You can follow up with different offers, you can make your own products, you can make complimentary products, etc.

      You can make a gigantic mailing list and send out an email on virtually anything weight loss related and you know you can get sales with it.

      With a lot of the smaller unknown niches out there, there is only so much you can do.
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      • Profile picture of the author proaffiliate26
        Take a niche that's already doing well and find a mini-niche inside that niche.

        For example, you may think about creating a page about digital cameras. Rather than doing that, where you'll face a LARGE amount of competition, choose a mini-niche that's specific like Panasonic Lumix or even more specific, like Panasonic Lumix DMC-ZS3K 10.1 MP.

        You'll want to make sure that the mini-niche you choose is still getting a good amount of traffic (you can use the free google adwords keyword tool).

        Good luck and welcome to the wonderful world of Internet Marketing!
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        • Profile picture of the author AndrewCavanagh
          What you really need to think about is getting yourself easy and economial access to a hungry market.

          And not just in theory.

          You need access to an email list or to someone's website with traffic or a proven pay per click campaign.

          In other words you don't identify some fantasy "niche" then try to make a product to sell to that niche.

          First find a real list you can sell to. For example can you set up a joint venture with a marketer who already has a large email list and a site with a ton of traffic in a particular market?

          You could create a product that is related but non competitive with what that marketer is selling, give him a large percentage of the sales and make some good money.

          It's not just about finding a lucrative niche...it's about getting real access to real prospects and customers.

          Kindest regards,
          Andrew Cavanagh
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          • Profile picture of the author Barry Unruh
            I love the real estate book example.

            Take that example and consider the weight loss market. You know the person who enrolls for Jenny Craig has probably already tried Slim Fast, the SubWay Diet, bought two or three books, tried the suggestions of friends, and is still seeking an answer.

            In the IM market, how many reports, books, and courses do we consume to find new ideas?
            We don't only listen to one teacher.

            How many new golf aids, books, magazines, lessons does an avid golfer buy?

            Every big market has searchers not finding what they want or need. You just need to find those people and direct them to the right place. I always search for terms which have at least a few competitors who are spending money to advertise. This is the surest way I know to increase the chances it is a buying market.
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            • Profile picture of the author Julie Suplour
              I have a few small niches that bring me in cosistent sales with very little effort. If you are going small, try to pick an evergreen niche. You want new prospects coming through your funnel constantly.

              Large markets are great for big returns and joint ventures.

              When you are first starting out, just pick something and go with it. You will learn more than what your first sales are worth by taking action and putting together a campaign.
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    • Profile picture of the author dan7am
      hey jimmy what cellcom says is right, small piece of big market, find stuff that people are spending money on,
      i was a marketing consultant to book authors, and i would find successful real estate investors, they would be advised to write a book on real estate to market them self to potition them self as an expert in the market, they would say but there are 100's of books on real estate, but at a seminar of a room of 200-300 people we asked the question put you hand up if you have ever in you life bought a book on real estate about 50-60% of the room put up there hands, then we said keep you hands up who has bought more than one book on real estate. 90% or more kept there hands up.... this is a hot market in the book industrie and people will spend more there, so they keep pumping out real estate books. same goes for online.... if they are spending money there, you come in and you are now another place they can spend their money, make sure you have good copywriting on your site/ sales page.

      when you get good at marketing then hit the niche, then you want to be the big fish in a small pond, the only logical choice.....
      dan
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  • Profile picture of the author livehappy5
    jimbo --

    just want to say that I feel your pain. I waver on this all the time. Some mentors tell me to dial into a really specific niche market, and other people encourage me to follow the clicks and where people are paying for traffic (the big markets).

    so I am entering a really big market, and trying to put my own little spin on a small corner of it.

    Remember that you have a unique voice -- let your voice be heard and there will be customers out there who will be able to relate to You better than anyone else out there.

    Good luck!
    Meghan
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    • Profile picture of the author Jimbo James
      Wow thank you all so much for your input.

      There is now no doubt in my mind how to attach this.

      Thank all again so much.

      Jimmy
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    • Profile picture of the author joseph7384
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      • Profile picture of the author francoza
        Originally Posted by joseph7384 View Post

        You always should find a niche within a larger market and then check to see how much ppc is in that niche, because if people are spending money on adwords, that means that the market is commercially viable.

        Joseph
        Competing for large markets is very difficult and you wont rank well because of large variety and competition.I would suggest taht it is better to compete for micro niches....they are very easy to rank and you will get highly targeted visitors too.
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