Niche Market?

According to  Wikipedia.org  a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. A niche market may be thought of as a narrowly defined group of potential customers.

A distinct niche market usually evolves when a potential demand for a product or service is not met by any supply, or when a new demand arises due to changes in society, technology, or the general environment.

Niche market ventures may become profitable even though they are by nature small in comparison to the mainstream marketplace, due to the benefits of specialization and focus on small identifiable market segments even without the benefit of economy of scale. 

I gain my own experience on niche market product when I was writing an eBook about how to start your own goat farming in local slang. This is a very good niche, as they were no competitors and at the same time Malaysian government is giving fully support to this business lately.

The eBook sales like hot cakes. That was the true experience to describe what niche market is in internet marketing. Other points when we talk about niche marketing is when we have to deep down or be more specific on the topic.

For instance when we talk about cars, don’t just mention it generally but be more specific by pointing out the type and accessories attached to it. You can explicitly indicate that you want to look at sports cars with high type audio accessories.  

Why Niche Market is Important to Make Money Online?

Today, many of us go into the internet to get or look for information, solution, details or even just for fun.

Some even buying stuff from the internet. That is why we need to be focus and have a unique product to sell so that the right customer will come at our doorstep at the right place.

For example Amazon.com, they dominated the market by selling books online and today they have more than a book to sell. They sell other products as well. When you have a specific niche market you will notice that your website or blog  will get top ranking in search engines easily, mean your website or blog will experience heavy traffic which indirectly will generate more money once you have your google adsense or adwords program. 

Everyone who has a website is constantly trying to improve their search engine rankings by carrying out optimization and getting inbound links etc. However one of the easiest ways is to create content that no one else has- unique content. Unique content written for an extremely focused niche market is a sure ticket to promotional success.

Article source from:

http://www.jobbankusa.com/CareerArticles/Marketing/ca81206e.html

According to Matt Bush . One of the biggest decisions you have to make when marketing online:

“Choosing the right niche”

 How important it is that you choose a niche that has money in it!  I know that people are always saying “anything can be a niche”, and while that’s true, it doesn’t necessarily mean you will make a lot of money.

 Example, I spent a ton of time creating a really strong site, and now get hundreds of visitors a day.  But the bummer is that he don’t make as much money per visitor as he had hoped.

Why?

Because his niche contains people that aren’t exactly looking to spend money online.

He also suggest  that the niche has decent products that people will be chomping at the bit to purchase.

How do you do that?  Easy!

Just head to good old google, and do a search using one of the keywords in your niche.  Take a look at the ads.  If people are running lots of ads, this tells you that there is money in the

niche.  It’s as simple as that!

He also give  case study:

1) If I type in “captain crunch cereal” I get 3 ads.  You know why? Even though the cereal is delicious (Yes, I’m a fan) this isn’t exactly the kind of thing that people are looking to buy online.

It’s pretty cheap, and can be found at any grocery store.

2) If I type in hoodia diet pill, several pages of ads show up.  I think we have a winner here!  People who want to lose weight are usually pretty determined to do so, and if they can take a pill that will help speed it up, they certainly won’t mind spending some money to do so.

My friend Nazrul had awesome niche blog called “famous hubble telescope image”. The blog is about photographs from aerospace. He got a top ranking in google search engine for that amazing blog. You can see the screen shoot below.

Hopefully from the experience of my friends and myself, will give you some ideas what is niche marketing all about. For a start, do scratch your notepad and be creative in order to have your own niche product for your next blog or website.