If You Spend Hours Running Around In Circles Selecting A Niche Here's Help

Niche selection is a very important aspect of internet marketing. If you choose the right niche, you could be in business forever - but if you choose the wrong niche, you'll be spinning your wheels trying to make pennies and there isn't much of an in between - so it is important that you choose the right niche the first time.


As I begin to discuss niches, I would like to back track a bit and talk about markets - because I see people confusing the two - or talking about choosing a niche when they are really choosing a market.


If you are inadvertently choosing a market instead of a niche you may be facing some stiff competition. Markets are generally huge and very broad, and could take years to profit from. That's why drilling even further down is so important.


The process of discovering a niche is akin to finding a specialized 'problem' that a group of people want a solution to. Notice that I didn't say 'need' here, I said 'want'. This is important when trying to distinguish whether the buyers in this niche are rabid or just looking to cure something.


If they are looking for a cure, once they get the answer to their problem they are no longer buyers. On the other hand, if they are rabid buyers who buy because they want to and not necessarily because they need to (whether they know it or not) you have a niche that is worth pursuing.


A rough model should look something like this: Market - Sub Market - Micro Market - Niche - Sub Niche - Micro Niche.
·

Market: Dogs
· Sub Market: Puppies
· Micro Market: Puppy Training
· Niche: Potty Training A Puppy
· Sub Niche: Potty Training A Puppy Chihuahua
· Micro Niche: Potty Training A


From a strictly 'keyword' prospective, I have come up with the following chart based on the Google Adwords Keyword Tool's traffic numbers. Please keep in mind that this is merely a guideline to get you started. As you become better at choosing markets and niches to pursue the keyword searches and search volumes will become slightly less relevant.


Too often when choosing a niche we get so wrapped up in keyword research that we forget a core fundamental in our research which is choosing the right markets in the first place - but a topic for another time.



Keyword research should not be a long and arduous process, it should simply supplement your well thought out plan of going into a hot market with healthy competition and advertising.

The category of search volume you should fall into when choosing a niche from a keyword perspective is somewhere around the niche to micro market area. Now it isn't unacceptable to go after sub niches. There are plenty of people who succeed with that volume. I happen to believe that it's better to target well chosen keywords with more volume that's all.

What Is A Niche Market?


Simply put - a niche market is a segment of the population with the urge to temper or solve a pre-existing 'specialized' problem.


For instance, a group of people looking to train their puppies represents a great start for a niche. They want specialized help with training since their dog is young or even brand new. It's not too broad and has good search volume but I must reiterate - try not to focus so much on the keyword search volume - in later lessons I will teach you what is equally if not more important than that.


Your two main responsibilities are to locate this market and present the solution. This isn't necessarily the product, but you must present the solution to the market in order to be successful and make any money.


You want to:

• · Discover groups of people that share a common want or need

• · Provide them with something that solves their dilemma, preferably temporarily

• · Gain consistent access to them so that you make consistent money

• · Rinse and repeat

Where Do I Go To Find Good Niches?


The absolute best way to find niches is simply to ask people what they could really use right now?


I got an email from Eben Pagan, a well-known marketer, and in the email to me he asked me one very simple and direct question .


The question was "What's the biggest challenge you're facing right now growing (or starting) your business?"


Now with enough responses Eben has a very good pulse on what his next product is going to be. By simply asking his list what they 'want', he knows exactly what 'solution' to provide them.


Asking people what they need is a very strong niche selection play, but you don't have to start there for ideas.


Some of the best niche markets are discovered using these outlets:

• · Your local magazine rack, or Magazines.com (read the headlines)

• · A simple Google search (are there plenty of Adwords Ads?)

• · Reddit.com/R/IWantToLearn

• · Clickbank.com

• · Amazon.com

So Which Niche Should I Choose?


This question may be easier to answer starting by how you choose to run your business. Are you going to be doing this full time, as a career? Or will you simply be using this as some passive income in your spare time, much like a hobby? Differentiating between the two will give different responses.

• · Long Term: Choose Non Passions just as much, if not more, than Passions

• · Short Term: Choose a Passion or a Hobby

If you plan on being in business for a long time it will benefit you to pursue as many niches that you are not necessarily passionate about as you are passionate about. Hopefully as your business progresses and you begin to outsource the low leverage daily tasks you will realize that it's just as easy (and in some cases easier) to make great money in markets you know nothing about.


On the other hand, it's a good idea to choose something you are passionate about if you are going to start this out as a part time thing. This way you stay interested in the subject matter and you will be less likely to start something only to abandon the project half way through. Once you make the decision to pursue this business full time then it might be a good idea to look into other unfamiliar niches.