Tuesday, October 21, 2008

Choosing a niche? Think small.

If there’s one thing internet marketers try to drill into newbies it’s to pick the right niche from the get go. But what exactly is the right niche?

I’m not surprised when people fail to make money in their niche. A great part of the problem is most people don’t know what a niche is.

When people think of a niche they immediately think of an entire industry, like health. Healthcare is not a niche. Health care is a sector; in order to build a website within the healthcare industry you would have to find an issue in that industry and address it. For example, Diabetes in teenagers is a niche. Weight loss for men over 40 is a niche. You could build a website on either one of those topics and be successful.

A niche isn’t an industry; it’s a group of people who share similar concerns within that industry. Pregnant women are not considered a niche. However, women over 30, who are pregnant with their first child is a niche.

When you are choosing a niche pick an industry and then pick a small segment within that industry. Instead of trying to tackle a golf website, try creating a website for the beginner golf hobbyist.

Why think small? For starters it’s easier. If you were to try and create a website on golf in general, you would be overwhelmed very quickly. A beginner doesn’t have the same needs as a pro. Thus they expect something unique to their needs when their searching for information. When you try to cater to everyone ( which usually happens when you choose a broad niche) you end up with a flea markets website. These sites are difficult to manage on your own. Most of us can’t afford to hire a team of experts like eBay does to pull off a huge venture.

Second, you earn more. The thing most people forget when they work from home is they are working in a global market. You aren’t restricted to your location so you can afford to think small, and you should. Small, clearly defined niche sites earn more because their prospects aren’t confused. Confusion is the number one reason people walk out on a sale online. Remove confuse and you increase your sales potential.

People within your niche come to your website and they feel as if it was made for them, it solves their issues. What’s more it attracts more people like them, people they can relate to. This builds a sense of community and trust. They then are more willing to purchase products you offer/recommend and subscribe to your ezine, because they know your sites is for them.

We make the mistake of thinking bigger is better. It doesn’t work that way online. So how do you define your niche?

1. Pick an industry ie Fashion
2. Pick an age group: 25-36
3. Pick a budget: 100-500
4. Pick a gender ( this is optional): men
5. Pick an issue: What are men age 25-36 struggling with in the fashion industry
Create your niche: How adult men can create an expensive looking wardrobe too impress their girlfriend for under 500.

By asking yourself specific questions, you get specific answers. You now have a small niche that can be profitable online. You can partner up with affiliate programs that sell budget clothing for men. You can write an ebook on how they can save when shopping. And you can add an Adsense forum where men can discuss their fashion dilemmas.

Remember in order to be successful online you don’t want to attract everyone, just the people who fall under that niche category. By doing your keyword research properly you can pinpoint what keywords desperate buyers are using to find answers.

Picking a niche is the most important thing you will do first off. It doesn’t have to be difficult, just think small.

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