“Identify your niche and dominate it. And when I say dominate, I just mean work harder than anyone else could possibly work at it”. – Nate Parker
Niche marketing is far and away one of the best ways to reach a targeted market looking for specialty products and services. When you can market to a highly targeted group of people and offer them the information, products or services they’re looking for, you’re going to do well. The key, therefore, is to find those niche markets which are looking for answers.
Most often keyword research is the best place to start. However, keyword research doesn’t have to be a systematic non-creative process. Rather, keyword research can be a brainstorming tool.
The first step is to start with potential keywords or phrases you’re interested in. Use the keyword tools to generate a list of viable keywords and keyword phrases. In addition, research the viability, supply and demand for your topic keywords.
Start by taking your main topic and finding its most popular version. Which related keywords receive the most searches? Once you have your main keyword, then spend some time researching the lower competition keywords and keyword phrases. People are becoming savvier with their searching and instead of typing in generic keywords like “pet care,” they’ll be very specific and type in “Golden Retriever puppy nutrition.” These are they keywords and keyword phrases you’re searching for and the results from your keyword tools will help you find phrases with high demand and low supply.
“When you find your niche, go for it. Make the most of it. Exploit it. Share it. Make sure other people know you own it.” – Heidi Richards Mooney
Here are a few keyword tools to use when doing this type of research:
* Google AdWords – Visit adwords.Google.com/select/KeywordToolExternal. Enter your keyword/keyword phrase here and you’ll see a different list of results. You’ll see advertiser competition and approximate search volume.
* KeywordSpy.com – This is a great tool to research your competition. It’s also an excellent tool for generating profitable keyword ideas.
* WordTracker – This will show you how many searches have been conducted for your keyword phrase, how many they predict, how many pages Google lists for that search term and a number called KEI or Keyword effectiveness indicator.
* KeywordDiscovery – This site works in a similar way to WordTracker and also requires a monthly subscription.
Being on the leading end of trends is also a great way to find niche markets. Imagine if you had been able to predict the Balloon boy phenomenon – this would have been a couple of very profitable days.
There are a few exceptional tools to analyze trends including:
* Google.com/trends – This shows the most popular trends for the day.
* Pulse.ebay – Here you can analyze the most popular searches for the day. You can also see the most popular stores and the most watched items.
* Buzz.yahoo – This works similarly to Google in that it highlights the most popular search terms. However, it seems to tend toward gossip and entertainment topics rather than products and industry trends.
* Springwise – A newsletter, which you can subscribe to, that highlights current and possible trends.
* Trendwatching – Emailed to thousands globally to spot and report on upcoming trends. They produce an annual report as well as monthly “trend briefings.”
* Entrepreneur – Annually predicts the upcoming trends for aspiring entrepreneurs.
Finally, social networking can be a great way to recognize trends and niche markets. Pay attention to hot topics, frequent questions and controversy stirred up on mainstream sites. Facebook, Twitter, and MySpace are all great places to observe, research and brainstorm.
Finding niche markets is an ongoing process and it can be a fun and interesting process as well. Think outside of the box, analyze trends and pay attention to what’s going on online. The next big niche could be right around the corner.
“The beauty of the Internet is there’s a niche market for everything, and if you can focus on it, you can build a sustainable and viable business of it.” – Michelle Phan