Finding the niche within a niche

by Joe1204 7 replies
I would like to know if there are articles or advice out on how to develop the new product out of the niche that is identified. Most of the advice I came across talk about doing something that you are passionate and the niche area is where there is a lot of demand (for solution) and very little competition. I figure new product would means ZERO competition. Is there a process available to figure this out even though I may not be an expert in that niche market. Thanks.
#main internet marketing discussion forum #advice #finding #niche #process
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  • Profile picture of the author James Schramko
    The passion argument is stupid. You can pursue hot markets as long as you can stand reading about it and knowing the market.

    Look at what is already being sold. Go to wikipedia and type in a popular term and drill into the categories and terms you will find lots of niches within niches.

    Same as forums.

    Warrior Forum is Internet Marekteing, categories are broken into >> SEO , PPC , Copywriting, JV's etc.... lots of sub niches in here
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    • Profile picture of the author JasonKing
      As James says, trying to create a new niche means re-educating the customer about your product.. which is often a very expensive exercise.

      Sell something people are already accustomed to buy.. with your only little twist of added value somewhere in the mix.

      -JasonKing
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  • Profile picture of the author drr
    Zero competition does not absolutely indicate that you've found a goldmine all to yourself. Some areas/niches are left untouched because there's just no money in it - people may have tried and failed with trying to make money with it.

    While you should not ignore the levels of competition, if you just focus on creating a good product/service and driving targeted prospects to your offers you'll always do well.
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    • Profile picture of the author James Schramko
      Here is something that I learnt from Stephen Pierce and has served me very well:

      Create a product that complements, enhances or improves an already existing market.

      I'm serious. Great tip.
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      • Profile picture of the author peteinoz
        Originally Posted by James Schramko View Post

        Here is something that I learnt from Stephen Pierce and has served me very well:

        Create a product that complements, enhances or improves an already existing market.

        I'm serious. Great tip.

        Very well said mate

        pete
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        • Profile picture of the author Chris_Willow
          True

          Look at a businesses that are making money, do the same and improve it
          In fact with some research you will be able to find out approximate figures for many online businesses
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    • Profile picture of the author jhongren
      Originally Posted by drr View Post

      Zero competition does not absolutely indicate that you've found a goldmine all to yourself. Some areas/niches are left untouched because there's just no money in it - people may have tried and failed with trying to make money with it.

      While you should not ignore the levels of competition, if you just focus on creating a good product/service and driving targeted prospects to your offers you'll always do well.
      I think it is two ways - if you have a product, you got to drive targeted customers and vice versa.

      And you need to do research first and it is the most important step many people ignore or even find cumbersome.

      John
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