What does a niche market look like?
The internet has grown so rapidly that hundreds of millions of people are able to go online, look up information, send emails and shop…
…and that’s just accounting for North America!
Now that doesn’t mean that everyone is going to start buying all their products online (even though they can)… but it does mean that just about anything you want to buy, but couldn’t find in the past, is now available to you!
The most successful online entrepreneurs have one thing in common: they focus on a specific niche.
So what is a niche market?
A niche market is a group of people who are searching for a solution to their problems on the internet and not finding many results.
- People looking to cure their dandruff
- People who want to train their parrots to play piano
- People who need an inexpensive hood ornament for their car
Niche markets are not huge, but they’re the perfect group of people to develop as a customer base.
That means that there are millions of new opportunities that weren’t there before, and those customers have never been served before! In fact, they’re going online everyday looking for new possibilities.
In a typical town, a business selling nothing but organic budgie food wouldn’t make it- there’s just not enough demand! But online… with over 2 billion people worldwide on the internet… even if only one or two people in every town want that specific, hard-to-find product, that’s more than enough to make up a market for a profitable business!
If you’re selling a product or service that satisfies your niche markets common need, you can build a profitable business, and that’s the ultimate goal