Do you spend a great deal of time trying to find profitable niche markets? If you’re like most marketers, the answer is definitely “yes”. Here are 4 proven ways on how to find profitable niche markets.
Rather than trying to find a product to promote, step back and focus on a niche audience to promote to instead. Why does it make sense to focus on an audience for your niche, instead of a product? Here are a couple of reasons why:
1. When you take the time to really understand the deep-seated needs of a certain audience, you’ll discover new options opening up to you. You’ll make the transition from trying to find ideas for products to immediately knowing what kinds of products you should promote to your audience since they will naturally correspond to their needs.
2. Products will always come and go, but a niche audience is virtually permanent. That’s why a popular product only lasts so long, and then people start to anticipate the next big thing. It’s the audience you should be focusing on, not the product.
Once you understand these basic principles of niche marketing, there’s no stopping you. Know your audience and give them what they need. Period.
Fundamentals On How To Find A Profitable Niche In 4 Simple Steps
1. Brainstorm A Niche Audience In A Variety of Ways
– Pick an audience that you are drawn to; people who you can relate to
– Pick an audience that you would categorize yourself in. For example: female college student 18 – 24 years old, or professional older male accountant
– Work in reverse and pick an audience by first choosing a niche topic you’re interested in or somewhat passionate about. This could be anything from “cure candida” to “stop tinnitus”. Next, perform research to determine what kind of people are looking for a cure for candida or how to stop tinnitus.
2. Recognize the Problems of The People in Your Niche
This process involves researching their pain, desires, problems, aspirations, and problems they may have. There are endless places you can discover this information online including popular high-end blogs, niche forums, trend sites, and how-to sites.
3. Choose the Profitable Problems of Your Audience
Not every problem is created equal. Your audience will be more than willing to pay to have some of their problems solved, while others not so much. It’s your job to understand the difference. You can use these filters to help you figure it out:
– How many monthly searches are there for the problem?
– How many searches suggest a desire to solve the problem?
– Determine the stability of search terms relative to the problem
– How much quality information is freely available on the Internet relative to the problem?
4. Take Time to Deeply Understand The Most Profitable Problems
It’s not enough to just know the basic facts or statistics of a problem. You must learn everything about it and how it affects people at their very core. Also, you need to speak the language of your audience on their terms to effectively communicate with them. [Go Here To Learn More About How To Find Profitable Niche Markets]
Also published on Medium.