Niche, within the niche, within the niche...

There are certainly differing opinions about niche selection for starting a new "business" "campaign" or whatever you chose to call it.

Obviously great marketing combined with good sources of traffic are of Huge importance... However as most truly successful marketers would tell you, research research research is THE most critical part of the equation.

Why? well choose a market that doesn't spend money, are not already desperate for resources you are offering or simply is too tiny and hard to reach will mean all the greatest sales letters or videos and "Bait" fired out there lure them in to bite will be fruitless.

So when considering which markets to target, now we know it is probably the most critical 1st step (not the only critical mind you)
The opinions differ even from within the "Guru" space (some say go larger, others go micro but multiple) and so this is why i throw out the following questions.

A - Do you choose larger markets ie the big 3, Make money , health and relationships. And try to compete within those markets ?

Pros would be.... Large audience and 3 huge internal motivations that drive all of us to find answers and solutions.
Cons would be... Markets being dominated by companies and or marketers who have been in those spaces for more than 5 plus yrs.
They have seasoned websites, they have huge followings and marketplace presence and budgets to match.

B - Do you chose "micro" niches either buried Deep withiing the "Big 3" markets eg health would be "hemmaroid cream" :rolleyes: instead of tackling say "lose weight" because of the competition aspect.

Pros of "micros" would be ... Less competition , easier to create a "quick" market presence and obviously less grunt work to get ranked if doing the SEO methods of marketing.

Cons would be ... well just the opposite of a Huge market, it would be a small market and so you would be limited in your ability to "expand" within that market.
An example of this could be say, Iguana care secrets ebook. Hmmm ok well yes it is a niche but what is the ceiling you are putting on your business when you focus so "micro". Lets say you sell an ebook for $27 on caring for Jaws the iguana. Ok maybe that little list of buyers you create you can pitch a sale on tank and heater systems from Amazon. ok sweet now what ?

Now if you were in a "lose weight" market(bigger market) you could do the following
Create a larger list
Cross sell , up sell and inside out sell :rolleyes: products from exercise, to diet to personal development to hypnosis and self belief etc etc

You could focus on just creating great marketing and obviously killer products and leave the SEO to an army of affiliates that you get to do all the selling for you right?

So yes you may be passionate about iguana's and that's great BUT ...

we chose to pursue IM to make money and i just think that doing what you love and doing what Actually makes money are sometimes (not always) 2 very different things and so this brings us back to which general advice floating around out there do you follow when chosing your niches to target.

Do you go into the big markets or chose the hobby sites or maybe a middle ground kind of deal.

How niche within the niche within the niche do you go ?

Hopefully this can provoke some thought but also bring out some of the "big players" who are having great success to post what their thoughts and processes are for chosing markets.

I think this will be beneficial to all who are starting out and still trying to narrow down how to chose a market or better yet , a "Business" to get out of the gates.

Big , Small or obscure what is your poison and why?