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How best to identify YOUR "Niche"?

by Darrin Bentley
10 replies
While many will say, "Find something you're passionate about, then start either a blog or website", I'm sure a lot of you guys/gals who are selling weight loss (or similar) products aren't exactly "passionate" about it (well...maybe the profits

What are some solid ways to identify a "Niche" market?

Thanks,
D
#identify #niche
  • Profile picture of the author jbsmith
    I would suggest that when you find market leaders - they are passionate about their market and how their products and services can help that market.

    You don't reach a full-time income online without doing a significant amount of work involving market research, market participation, relationship building, knowing your topic, creating or finding great products and then marketing the hell out of them which involves either producing (or at least overseeing) the production of content that adds value to your market.

    It's up to you - but I have found the people that do this best are the people that do have a passion (or at least significant interest) in serving those markets.

    My niches have all been selected based on a combination of passion/interest, opportunity (measured by several factors including existing product sales, market involvement, testing, upstream potential, etc...) and viable business model (products, ads, partners, etc...)

    I wouldn't waste my time working my a** off on something I'm not that interested in.

    Jeff

    Jeff
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    • Profile picture of the author David Burnett
      I'm sure that there are plenty of people who are passionate about weight loss. I bet that they bought a product that changed their lives and now they want to do the same for others.

      But that being said...

      Your right. There are plenty of people out there that aren't passionate about what niche they are in.

      So in my opinion, what you are passionate in should only play a part in what niche you go into.

      What I would suggest is look at the market and choose some niches that are working and you know people are making money in.

      Then take all of those and pick the one that most interests you. That way you've found something that your interested in but will also make you money.

      Hope this helps
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    • Profile picture of the author Darrin Bentley
      Great response, thank you! I understand you have to be (somewhat) passionate (or at the very least, have a strong interest) in whatever it is you consider doing in the IM world. But I'm sure there are marketers that are making a killing in Porn, but while they are experts in the market, aren't exactly passionate about it. They may just look at it as a business (a lucrative one, but a business just the same).

      I am a total newbie and while I have several ideas of "Nice" markets I would like to consider (and yes, several of them are things I'm VERY passionate about), I need to know exactly how to understand the available market (i.e. is there good profit potential there).

      I asked in another thread about identifying and analyzing potential competitors. You obviously have a deep understanding of IM and perhaps can share some methods on how best to do my market research.

      Thanks in advance.

      Darrin
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    • Profile picture of the author Michael Harris
      Hey Darrin,

      I usually start, by heading over to spyfu.com (free version)
      with some broad keyword ideas.

      For this example I will use the keyword weight loss here.

      I plug that in and see what it returns.

      The results are in three categories e.g
      "Broad" "Phrase" and "Exact"

      The exact category returns the following data
      60.5 K searches/month,
      $4.21 Cost/click
      $474 daily ad spend

      There was also 89 advertisers on the keyword in the last
      3 months.

      This is a clear indication there is money in the niche.

      Next I run a google search on my keyword and collect first page results,
      in this case I would take first 2 pages of urls.

      And put them into Alexa.com and Quantcast.com (both free versions also)
      to get the demographic profile of the average user.

      I repeat the above exercise several times,
      using the "Searches related to weight loss" keywords at the bottom of the serps results,
      because sometimes that's what is needed to get enough data from alexa and quantcast.

      Then I spend time in weight loss forums & yahoo answers,
      looking for problems and solutions to those problems.

      Also noting buzz words/slang this group uses.

      Also a quick look over at google trends can reveal some interesting info.

      Hope that give you some ideas.
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      • Profile picture of the author Darrin Bentley
        Originally Posted by quantumtiger View Post

        Hey Darrin,

        I usually start, by heading over to spyfu.com (free version)
        with some broad keyword ideas.

        For this example I will use the keyword weight loss here.

        I plug that in and see what it returns.

        The results are in three categories e.g
        "Broad" "Phrase" and "Exact"

        The exact category returns the following data
        60.5 K searches/month,
        $4.21 Cost/click
        $474 daily ad spend

        There was also 89 advertisers on the keyword in the last
        3 months.

        This is a clear indication there is money in the niche.

        Next I run a google search on my keyword and collect first page results,
        in this case I would take first 2 pages of urls.

        And put them into Alexa.com and Quantcast.com (both free versions also)
        to get the demographic profile of the average user.

        I repeat the above exercise several times,
        using the "Searches related to weight loss" keywords at the bottom of the serps results,
        because sometimes that's what is needed to get enough data from alexa and quantcast.

        Then I spend time in weight loss forums & yahoo answers,
        looking for problems and solutions to those problems.

        Also noting buzz words/slang this group uses.

        Also a quick look over at google trends can reveal some interesting info.

        Hope that give you some ideas.
        AWESOME!! Thanks for that!!
        Signature

        A sucker MAY be born every minute, but that don't mean you have to take advantage of them.

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  • Profile picture of the author Randall Magwood
    Well you can find something that you're good/excellent at and start selling in it, or......

    Find a super ripe niche that you know NOTHING about, but is extremely lucrative, and learn more information about it than you would ever care to know. I personally like this option better. You'd probably rake in more cash with this option.
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  • Profile picture of the author Miguelito203
    Originally Posted by Darrin Bentley View Post

    While many will say, "Find something you're passionate about, then start either a blog or website", I'm sure a lot of you guys/gals who are selling weight loss (or similar) products aren't exactly "passionate" about it (well...maybe the profits

    What are some solid ways to identify a "Niche" market?

    Thanks,
    D
    There's a saying in internet marketing that goes "Where's there's a magazine, there's a niche." This is because a lot of research and money goes into them, including the advertisements. Using a site like Amazon is a good place to start. Then, you can use a keyword tool to break down niches further.

    I personally had to try out a bunch of niches to see which ones I liked and ones I didn't. While something like weight loss can be very profitable and is for lots of people, that's not my thing. Here's another tip. I found that what I happened to major in college was a profitable niche.

    It was cool because I not only really liked it but knew a lot about it and had tried a number of products in the niche by the time I had graduated and such. Because of all this, I was able to pretty much write from my head and generate commissions pretty quickly. I hope this helps.

    Good luck,
    Joey
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    • Profile picture of the author TopWebZone
      what did you major in btw ?
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      • Profile picture of the author David Burnett
        Originally Posted by Darrin Bentley View Post

        Great response, thank you! I understand you have to be (somewhat) passionate (or at the very least, have a strong interest) in whatever it is you consider doing in the IM world. But I'm sure there are marketers that are making a killing in Porn, but while they are experts in the market, aren't exactly passionate about it. They may just look at it as a business (a lucrative one, but a business just the same).

        I am a total newbie and while I have several ideas of "Nice" markets I would like to consider (and yes, several of them are things I'm VERY passionate about), I need to know exactly how to understand the available market (i.e. is there good profit potential there).

        I asked in another thread about identifying and analyzing potential competitors. You obviously have a deep understanding of IM and perhaps can share some methods on how best to do my market research.

        Thanks in advance.

        Darrin


        Haha probably not talking about me with the deep understanding part

        Check out this article though... it can help get you started with your market research

        How to Do Market Research--The Basics | Entrepreneur.com



        It's a little bit different because we are working online... But the basics are the same.
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    • Profile picture of the author JohnMcCabe
      Finding something you are passionate about is one way to go about it.

      Another way to approach the subject is by finding someone you are passionate about or have an abiding interest in.

      In other words, explore business ideas from a people perspective, rather than a product perspective.

      I'm in a few "niches", but they all have one thing in common. The people I try to serve. Each niche attracts people with similar characteristics. Not coincidentally, I share many of those characteristics. So I have a leg up on what they want, how they want to be approached, what turns them off, and so on.

      People like to say "you are not your market". When they do, they usually mean that the people in your target market don't have the same level of exposure to what goes on in the market.

      You can be your market. Figure out what people like you want and offer it to them.
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