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Why Knowing Your Niche Can Save Your Business

Aug 17, 2007
While searching for that perfect online business opportunity, one thing many people tend to neglect - and not on purpose - is finding their niche market and how they can benefit the most from it. Most people come into the online business world without even knowing what a niche is. In fact, when I started my own business, I wasn't aware of the concept, and to this day, still need to narrow down my scope into the perfect niche that could explode my profits. When your goal is to make money online - a huge, competitive market - it's easy to jump into something big without realizing the difficulty of having to put your advertising efforts ahead of the competition. So what is a niche, and how can we ensure that we are not trapping ourselves in a market that we will have trouble surviving in?

A niche market is an easily identified, easily reached group of people who have similar interests, values, or needs for a product or service that is in high demand, but that has low competition. When you look for a business niche, you are looking for that high demand product or service for that very specific audience. Making money online is a very high demand product/service, but when you do some research to find out how massive that market is and how broad that topic really is, you realize that you could be a very tiny fish in a huge ocean of sharks. A better way to approach this market would be to narrow it down into something very specific, such as, "How newbies to the internet marketing world can make money online using ezine solo ads". The more specific and targeted your product or service, the more success you will achieve in reaching that market.

How do you go about finding the perfect niche for you? First, you want to consider what you are truly passionate about in life because if you do what you love to do, you will be able to build and maintain your business, as it is something you enjoy. If you don't enjoy teaching people how to make money online through internet marketing methods, then it probably isn't the right niche for you, and you won't get very far with it.

You also want to choose a niche that you have some good knowledge about. The less you know about your product or service, the harder it will be to build a solid and useful website, full of quality content that will grab targeted customers. Take a good look at what skills you have, what your hobbies and interests are, and promote those things you know the most about. If you still don't feel you have anything worthwhile to promote based on your skills and knowledge, then choose something that really interests you, that you want to learn about, and go do your research on that topic so that when you do promote something, you will be proud to promote it. Continually learning about that new product or service will eventually make you an expert in that market.

Once you've found your niche, you want to do further research and make sure there is a good market for it. Find out what products and services are in high demand, but which don't have many competitors that you won't be able to surpass in your marketing efforts. "Making money online" is an example of a high demand, highly competitive market. Again, you want to narrow this down into something in high demand with less competition, such as "How newbies can make money online with Google Adwords". Be sure to do a keyword search for your topic using keyword tools such as Overture that tell you the demand for your topic. Also find out what your competition is doing so that you know what to do to keep up.

Your research may also include finding out from your existing customers what exactly it is they want. You can do this by sending a broadcast email to them and simply asking them what is missing, what they would like to see, what their needs and desires are, and what they hope to get from you. By creating a website full of quality content, articles, and information on your niche, your customers will be begging for more.
About the Author
Liane Bate owns a Plugin Profit Site web business, is a member of Success University, and the IAHBE.
Visit:http://www.HonestMoneyMaking.com and Plugin Profit Site
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