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Isn’t it crazy that the most successful small businesses understand that only handfuls of people will buy their product or service. The most difficult task is figuring what exactly to sell who to sell to. Once that hard part is done you know how your targets. Simply put, your target market is a narrowly defined group of customers, while your market niche is the particular product and/or service you plan to offer to your target market.
How to Target?
How to find your target marketing is difficult but try to describe them with as much detail as you can, based on your knowledge of your product or service. Question your family, friends and other colleagues to see who would buy your one of kind jewelry made out of antique spoons or whatever other clever things you are thinking of selling.
Niche marketing on the internet is without a doubt the easiest way to understand exactly what a specific market wants. Once you know what they want then you get ranked for niche long tailed keyword phrases which tend to convert higher than any market saturated with competition.
However, the challenge is the same as it is for many people…what exactly is a niche market and how do you know if your niche is online compatible. Too many times people find out that their niche market is great but not great for online and more often than none it seems as if their niche market only pertains to them.
First you must know, understand and comprehend that a niche market is much smaller than many think. Here are some take away points:
- If the market your are entering is similar to another than its most likely saturated this doesn’t mean throw your idea away but 3M it which is my saying for take something and make it better or re-invent it.
- If your niche is considered by most as different or strange/unique then you are most likely getting warm.
- The idea needs be able to exists under the radar of companies deeming it unprofitable to create products for that market.
Second, a niche market will most likely be very severe to be successful Here are some things you should ask yourself about the niche market:
- Are those people currently involved in these niches hobbyists that are extremely passionate and loyal?
- Are those involved in this niche desperate to have everything related to it?
- Are those who fall into the category above willing to pay for anything for it or willing to go to some extremes to get it?
After putting your niche idea through some of these questions and applying this school of thought to your niche idea take a look at these 5 websites below and see if there is really a market online for it.-
- Google Trends- With Google Trends, you can compare search volume patterns for your search terms across specific regions, languages, and time frames which let you compare the world’s interest in your chosen niche markets.
- Google Adwords Keyword Tool - >is a free tool that reports on search performance and seasonal trends on keywords and keyword phrases that you enter into the search box. Statistics show the relative amount of users searching for that keyword on Google.
- eBay Pulse- is a daily snapshot of current trends, hot picks, and cool stuff on eBay, listingpopular searches, largest stores and most watched items. Although eBay Pulse page shows an overview of the entire eBay marketplace, you can use the drop-down menu to refine and filter the lists to show content for specific categories on eBay.
- Google’s Insights for Searchlets you compare search volume patterns across specific regions, categories, time frames and properties. Check out the examples of how you can use Google Insights for Search accessible from the homepage
- Yahoo’s Buzz Index-focuses on the entertainment industry, providing their most popularsearches on a daily basis for actors, movies, music, sports, TV and video games.