You have a product or business idea that you think is pretty good. Do you flat out go for it? The answer is, you’ll save a lot of time and possible heartache if you drill down your niche idea. A marketable idea requires more than just identifying your interests. You need to divide the potential topic into a very specific area for two reasons:
1. To discover its marketability
2. To define the target audience in advance
Let’s look at how to break down a niche idea using a popular how-to topic in searching online: making money with Internet marketing.
Step One: Narrow Your Market Scope
First, the topic is much too broad and difficult to market. You’ll also have very high competition. Think of the process as an upside down funnel. Or, if you’re mathematically inclined, it’s like reducing a fraction to its lowest terms.
Broad Topic: Making money with Internet marketing.
Drill down to your target market: Men, Women, Moms, Kids, College Aged Adults, Baby Boomers, etc. — People who…
- want to work from home
- want freedom to choose their own work hours
- hate their job and want to get out of the cubicle
- lack advanced skills or degrees and need to learn a skill fast
- lost their jobs due to downsizing or outsourcing
- want to be able to work from anywhere using a computer
- are looking to supplement a fixed income
- need to earn extra money fast or consistently
- don’t want to go back to work at all
Yes! Now there’s an entire set of niche topics that can be developed. And all you did was take the time to analyze why people would want to earn money from Internet marketing.
Now, out of the topics you generate select two that interest you and/or represent areas where you have personal experience.
Step Two: Keyword Search
The next step is to take the first topic you chose and brainstorm five to seven key questions that people might ask in searching for it. Next, perform a search using the keywords you developed. Check out the websites revealed in your search. Write down what you learned.
Step Three: Establish Marketability
Search affiliate products on Clickbank (and other affiliate programs) you can use in developing your niche idea.
Questions?
Do you have any problems when it comes to defining your niche idea? Have you its checked market viability? Where are you at with this? What can I help you with?
