What is a niche market anyhow? A niche market is a specialized market that has a limited and clearly defined range of products sold to a specific group of people. So when you are starting your own website or online business you want to have a specific niche to base your website around but you can’t seem to come up with anything? Well not to worry! I will show you a couple methods I have used and recommend for people just like you.
I must tell you when deciding what you are going to sell or what your website will be about, make sure it is something that you are passionate about. This is very important to the success of your website and to keep you motivated! Its much easier and fun spending time working on something that you can really wrap your arms around and get into versus going through the motions. While there are a number of different ways to make money online such as selling your own products, affiliate marketing and so on. I always suggest trying to come up with at least a couple products of your own but you can decide that later.
Here are a couple of easy methods to help you figure out what you’re niche market could be and how to narrow it down. Go to Google Keyword Search or AdWords. Now think about something or a topic that interests you, lets say for example “Gardening” type it in the space that says word or phrase.
Now also check the small box under that says “only show ideas closely related to my search terms” and do a search on it. This will give you a list of related topics or phrases generated for that one keyword. This search will then break down the related phrases and tell you how many times each one was searched per year and per month.
It will also tell you the level of competition for that word or phrase. Let’s say one of the phrases was “tips to a healthier garden” and the competition was listed as high. This means you are going to be competing potentially against several other websites on that particular phrase. Now let’s say another phrase was “how to grow a healthier garden” and the competition is listed as low or medium. This is narrowing down your niche and gives you a better chance at targeting a certain group of people and potentially lowering the competition.
Another thing I would suggest is go and do a couple searches on Google and a couple other search engines like Bing and Yahoo. Use the same method as far as using a keyword or phrase and search for websites that would be similar to what niche you are interested in. Take notice to the title of their website and the description. This is another useful method to see what some of the competition may be in that particular niche. One thing is for sure these days, …