A Quick Guide To Finding A Niche Market

Unless you’ve been living in a cave for the last couple of years you must be aware of just how powerful and profitable finding your own niche market or gap in the market can be, that elusive segment of a larger market which the smaller marketer can dominate and profit from, So how do you go about finding your own profitable niche market to start building your business around?.

We know that an ideal niche market is one where there is an interest from a small but sizable group of individuals ‘niche market’, this should ideally be a market niche left largely un-served by the masses.

As I said finding a profitable niche market for yourself doesn’t have to be difficult and if you follow the following simple steps you won’t need to spend any money on fancy software. There are many ways of locating your own niche market but fortunately they can be learnt quickly,for this article I’m going to be concentrating on just one, which I think is probably the quickest.

The trick to coming up with a successful niche market is to look at the fringes of a larger market for unfulfilled needs. For example, what about a dating mini site offering a guide aimed solely at dating for single mums or what about a guide to buying a used car for woman,

Step 1.

Probably the best place for any new Internet marketer to start is with something they already know about, although you don’t have to start here, you will probably find things much easier and quicker if you work in a field in which you have some experience. Consider your interest and expertise or perhaps your hobbies, and try building your research for your first project around them.

Step 2.

Assuming that you have at least 1 market or interest written down, we’ll crack on. We’ll call your idea or interest your main market. To continue this step open up the ‘Google keywords tool’, don’t worry its free, just Google it, enter your main market into the Google keywords tool, make sue you have the ‘use synonyms’ box checked and then click ‘get keywords ideas’, this will give you a list of many relevant keywords to your original market (keyword), the list will appear in order of relevancy, but this is unimportant at this point, what we’re interested in here is other areas based around your first entry which make sense and may be of interest. for example, if the main market you entered initial was plumbing, you will scan the list of associated keywords & phrases until you find something of interest, lets say you pick ‘Installing a bathroom’.

Do you see how this works, within just minutes you can have the seed’s of you first possible niche market which might be a great place to start or if not just carry out the same procedure until you find something that works. Once you have a keyword that looks promising try repeating the process even further which can help to reduce the market further until you find a market small enough to serve and obviously big enough for you to profit from.

Step 3

When you have your chosen area you’ll need to do some research on the competition. Don’t worry to much about competition at this stage as you will find later on that some competition can actually be a good thing, so don’t be misguided into believing what many so called gurus preach, believe me trying to market to a completely competition free market can be a waste of time,

Remember if the market is so small and with no competition the chances are area will not be viable or indeed profitable, that’s not to say that it won’t become so in the future, but for now let’s stick to the quickest way to profit through niche marketing.

The tool I use to do the next bit of research is ‘WordTracker’s Free Keyword tool’. I’m sure your aware of this software so I won’t go on about it. Just enter your keyword or phrase into the software, and wordtracker will produce a list of relevant keywords which you can use for the next piece of research. Wordtracker analyses data from a number of smaller search engines, although this isn’t Google, the figures tend to be relative. When researching your keywords using this tool you should be looking for keywords with a count of over 30.

Now you have your list of niche related keywords you need to do a little competition research to see how profitable they are, For this step I use a free version of a software called ‘Traffic Travis’, enter your keyword list into Traffic Travis to see how many people are bidding on those keywords in the PPC market. I’m not advocating that you get straight into PPC advertising, we do this just to determine whether people are willing to pay money to have an ad appear for those keywords, and if they are the keywords themselves must be profitable! So there you have it,

There you have it that’s basically the quickest way you’ll find of locating a profitable niche market, Try not to over complicate things, as in my experience you’ll get board fast and give up. Stick to what I’ve told you here, research 2 or 3 ideas at a time if you can. I recommend you check traffic-travis over the following week or two before you make your decision on which niche to get into, see if the same websites are consistently bidding for the same keywords, and if they are you’ll have a pretty good idea about the profitability of the niche market before you get into it.

I hope you found this article of some value.