Finding a Niche Market (In Plain English) -
I remember when I first started all this make money online stuff, people would say, “Find a hungry niche market and market to them”. Easy, right? Just get in the way of the money that is already being spent. Ok, got it. NOT! What the heck is a niche? A sub-niche? A micro-niche? And how the heck do you find a hungry niche market? Let’s talk about this in “plain English”…
What Is a Niche Market?
The whole “find a niche” thing drove me crazy. For some reason, I just couldn’t wrap my little pea brain around the concept. If you’ve already got this figured out, then please, go back to work. I am about to ramble about my “A-Ha!” moment and I’ll bore you to tears….lol
A niche market is a market that is targeting a certain demographic. It could be age or gender, but usually it is according to hobby and interests….or needs. Whatever the target topic is, those that work within that niche are each targeting those consumers that have that age, gender, hobby, interest, or need in common.
Ok, that makes enough sense when you read it, but when you go to APPLY it to your online marketing efforts, do you get kinda lost? I know I sure did!
Sub-Niche – The Market Within a Market
So, let’s get even MORE confused, ready? Let’s talk about sub-niches. These are markets within target markets. So let’s say the big market is new mothers. A sub-niche of that might be something like new mothers that are single, or new mothers of twins.
When we work online, we do best working in micro-niches. (Am I TOTALLY confusing you yet?). An example of a micro-niche might be something like new mothers of twins who want a new stroller or, even more “micro”, new mothers of twins that want a stroller made by Graco.
Still with me? =)
Niches and Keywords
Using the example above about strollers, how would this work with your favorite free keyword tool?
Let’s take a look:
The niche: baby strollers
The Sub-niche: baby strollers for twins
The Micro-Niche: Graco baby strollers for twins
The Micro-Micro Niche: Red Graco baby strollers for twins
Why is this important? When you are working to make money online using all free methods, you need to stick to the micro-niche and the micro-micro-niche keywords. These are the “long tail” keywords that you hear talked about.
The more general the niche market, the harder it is going to be to see results. The more targeted your keywords are on a micro-niche, the faster and better results you will see with your free one-page marketing methods.
Still with me? Good! Let’s keep going
How To Find “Hungry Niche Markets”
This is where I got really, really stuck. How in the world would I know if a micro-niche market was profitable? Then one day, a simple trip to the grocery store stopped me dead in my tracks.
The Magazine Aisle
Standing there browsing the magazines while I waited for my teenage daughter to go get the latest and greatest hair conditioner that she HAD to have, something hit me like a ton of bricks falling from the sky.
I stopped….looked up…and looked around me. The answer was right in front of me.
Each magazine was a niche market.
Think about it… Each magazine you see is a niche market. It is carefully planned and created to attract a certain demographic of people that have at least one thing in common.
Better yet, if there is a magazine about that niche market – there is MONEY in that niche market.
How do I know that? Magazines survive off the revenue of their advertisers. The advertisers pay more for larger subscription/circulation stats. If the advertisers are willing to advertise, guess what? Those ads are probably profitable.
Here’s where it gets even better for you. Each magazine is carefully created to contain the things that people in that niche market WANT TO KNOW. They’ve already done the research…they probably have a really good idea of what to put IN their magazine to please their readers AND their advertisers, right?
Ready for this? Each article within one of those magazines is a sub-niche or micro-niche of that niche market. Those headlines on the FRONT of the magazine should be paid attention to, also. There is a reason they are there. The magazine is counting on those words to attract their market to reading the magazine.
Let’s Take An Example
Ok, sitting here next to me is this month’s copy of one of my favorite magazines, Entrepreneur. (Yes, I’m a geek…lol). This magazine targets those that want to be their own boss and offers them ideas, helpful tips, up and coming trends, interviews with successful entrepreneurs, and business opportunities, etc etc etc.
So, let’s open the magazine and see what’s inside… what do people who read this magazine (those in this niche market) want to know?
Well look at this, page 39 in this January 2009 issue is an article:
“Join The Tweetup”
This simple, one-page article is not just about the general topic of how to use Twitter, but more specifically about business owners using Twitter while at seminars and conventions.
Guess what? A hungry niche market wants to know that information.
Your Passion vs. a Profitable Niche
We hear it a lot, don’t we, “Follow your passion and the money will come“.
I have a little bit of a problem with saying that….especially when talking to someone new to the make money online world.
You may do that – follow your passion – and spend hours, months, and years working on that passion. And yes, it very well might be fulfilling and rewarding. But, will it be profitable? C’mon now, we are doing this to MAKE MONEY, aren’t we? Once you got the money tidal-wave crashing in, you can follow all the passions and quirks you want to.
So, where is the balance? How can you pick something you enjoy and something that is profitable?
Here is my suggestion. If you feel lost as to what to write about online. If you feel hesitant to write about topics you don’t know or you don’t enjoy, BUT you’re nervous to just go all-in on a topic you enjoy for fear of no profit, try this…
Go to the store. Stand in the magazine aisle. Stop being a marketer – just be YOU.
What magazine do YOU want to buy and read?
If there is a magazine, there is a hungry market. If YOU like it, you will be more excited to work within the market. The words will flow more easily. The research won’t feel like research….it will feel like learning about things you enjoy and sharing them with others.
To sum this up… don’t follow your passion…. follow your magazine passion. Open that magazine up and the ideas, micro-niche markets, and enjoyment will blow you away!