Micro Niche Markets.

byredagents

16 followers

16 years ago

Micro Niche Markets.

I’m now going to reveal my Top 5 Micro Niche Secrets.

1. You must understand customer demand. But, not just any demand. You need to find niches that are full of people looking for stuff to buy. You don’t want researchers. You don’t want people looking for information. You want people who are ready to buy. They think in terms of words like: buy, used, discount, coupon, purchase, and best price. They are many, many words like this… floating around in their minds. You need to tap into this demand in these niches. Related Hint: I tend to look for niches where there are at least 1,000 searches per month by people ready to buy.

2. You need to understand commericial intent. This is a fancy way of saying that some words in some niches indicate a bias. In some niches people are ready to buy. But, it’s not always easy or obvious to tell this. When someone types “iphone case” into Google, do you know if they are researching or ready to buy? You must know this or you’ll just be helping people who are reading and researching, not people who are ready to buy. Again, you want to be in a niche with thousands of hungry and desperate buyers.

3. You need to be in a premium niche. You need to stay out of niches where the average product price is only $5-10, or some other low dollar amount. You want to be in niches where there are ultra high profit margins (e.g., information products) or high prices with high commissions. You’re not dealing with huge volume so you must deal with huge price.

4. You must go with everygreen. What I mean is that you should go with niches that have long lasting power. Stay away from fads unless you can instantly dominate the niche and pull down huge cash with very little effort. I personally stay away from trends and fads (e.g., Pokemon, Chia Pets) and stick with evergreen (e.g., stop smoking, weight loss, make money). Of course, I enter into a micro niche not the big niche.

5. You must understand supply. In a micro niche, you will only know your chances of success if you know your competition. The only way to know the truth about your competition is to know the “supply” of available pages, sites, and products. If demand is high but competition is low you can win. However, if competition is high but supply is also high, your chances of success go way down. You want to stack the deck in your favor. You want an unfair advantage. You want to be the giant ogre who goes into the kindergarten class and beats up everyone, including the teacher.