Show Me the Money…How to Quickly Identify Your Online Money Making Niche
What is a Niche?
Niches are specialized subsets of broader markets in which a limited range of products are sold to a very specific group of people. “Niche” is a marketing term used to identify a group of people with a common problem or a common interest.Groups of people with common needs could be:
·-Work-from-home moms or dads
·-Men, Women, Teenagers, Children
·-Teachers, Builders, Sales Professionals, Coaches, Investors, College Students, Website Developers, Home Cooks. Golfers, Athletes, Gamers, Gardeners...
A niche is simply a group of people with a need and buying power in the marketplace. In reality, niches are created by identifying the needs and wants of specific groups of people.Niche marketing is accomplished by promoting and providing a limited group of products or services to accommodate the needs of prospective customers within the like-minded affinity group.
Simply put, niche marketing is the best way to make money from the gigantic pool of internet buyers because it is highly focused on the specific needs and wants of the buying audience.
There are hundreds and hundreds of niches from which to choose. What you want to find is a starving group of people who are ready to buy the solution you offer. Your starving group could be any affinity group with common problems, needs or interests.
Want to make money? Find a starving group of people who want to buy the solution you offer.
To be successful as a niche marketer, you must clearly understand needs and communicate effectively with the niche.That means you must be able to identify and meet their unique needs and be able to speak to their “hot buttons”—not as an outsider, but as someone who is in their circle.
Retirees for example, find it easier to talk to seniors and other retirees because they share similar needs and have had similar experiences. The same is true with new parents to other new parents or anglers who know exactly what to promote and how to communicate effectively to other anglers.
Money Tip #1: Choose a niche that you can relate to easily based upon your past experience and knowledge.