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How To Discover Your Niche Market (Part 2)

Dec 23, 2007
You've almost completed your research on your target market. You have done research on the search engines and you've even visited news sites. There are just a few more ways you want to check out your potential target market in order to get the full picture.

The third way for you to do research is by finding trade magazines or newsletters (ezines) on your keywords or topics related to your target market.

By doing this, you'll learn about the problems or issues that pertain to that market. If you live near a bookstore you may want to find magazines that relate to your market and look at the table of contents for news stories. Take note of the articles that deal with issues your potential target market is having.

You'll also learn what products they like and what products they don't. Sometimes you'll even catch people in your potential target market offering ways to improve existing products. This is where the light bulb over your head should come on because now you have ideas for a new product.

Internet marketing guru Mike Filsaime even said the idea for one of his products came about from reading comments from people in an Internet forum. People were posting ways a particular product could be improved. Mike took their ideas and created a product with it. His millionaire dollar idea came from people in his target market!

This brings us to the next place you'll want to do research-discussion forums. Find out where your potential target audience likes to hang out. You'll want to get to know these people who may very well become your future customers. You'll want to "lurk" and watch the conversations and note the issues and problems that come up repeatedly. You can also do a survey or pose a question to the people about what they think about certain topics, issues and or products.

You can do a search for your market in discussion forums such as Yahoo and MSN groups.

The last way to do research is to use a keyword research tool, like Wordtracker. You can explore the words your target market is typing into the search engines. Here you will discover issues and or problems they want solved by the kind of words they type. You'll find a lot of details about your potential customers that you would have never known if you had not done your keyword research.

You can also learn about the competition that exist in your market and even learn the size of your potential customer base-at least online

Keyword research is a great method to use because you'll know what keywords your target market is using which in turn, reveals their needs and interests. Once you figure out what these words are, you can go to the websites that cater to those needs and see how those sites fulfill or don't fulfill those needs. This is where you can come in and dominate that market.

Keyword research does take some time to do, but it's worth the effort.

Once you've think you've identified your market, you want to make sure they are actively looking for a solution to a problem. There must also be a big enough market for you to provide a solution for as well.

Lastly, you want to check and see if the solution, your product or service, is something that can be easily sold over the Internet i.e. people will buy it over the Internet.

Once you've done your research and everything checks out ok, you'll want to start thinking of how you can develop a product or improve upon an existing product that solves the problems of your target market. See how simple the steps are to discover your niche market? Now get to it.
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Corrisa Malone is home based business entrepreneur.
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