Niche marketing is a phrase you will often come across referred to on internet chat rooms and forums in connection with ways to make an income online. In essence, we are referring to that component of a bigger market defined by a group of individuals with more specialist wants for goods and services that present us with a business opportunity. Looking to sell in a narrower niche market can be a more lucrative business model since there are consumers willing to buy from you but with less competitors. The following text is about how to put up a moneymaking niche marketing business.
The initial step in identifying niches you can turn a profit from is to do some market research and there are websites online that make this relatively simple. For example, Amazon and Clickbank are two hot online marketplaces and if you navigate their websites you will start to see how many niches there are to pick from. You can go through the products conveniently listed in several categories and filter out the top-selling ones. Jot down those products you are interested in for further research. The Financial World blog has much more to say on this.
Next, you will be eliminating those product markets from your list that are very competitive by using keyword research. There are numerous keyword tools both gratis and paid and when starting out, most people will use Google’s own keyword tool which is one of the free tools out there. The basic aim in keyword research is to begin with broad category words and progressively drill down into longer key phrases that still have a modest search volume. Often these ‘long-tailed’ keywords will have fewer competition and are the ones you should be aiming for in your niche market.
The way to check on the amount of competition for your selected keyword phrases is to type the word within quotation marks into the Google search bar and press enter. Check out the Financial Advice website for additional details. You will then see the number of search results returned for that term and this is also the number of web sites you will be competing against. Apparently, you don’t want too much competition for any of your keyword phrases. A number of these longer key phrases will be the names and model numbers of particular products which are search terms used by people who are about to spend money rather than those simply looking for information.
The important initial step of market research is completed and now you can produce a blueprint for your new site based on the keywords you have identified. A quick and direct way to build a niche website is by using the WordPress blogging platform for which there are many no-cost templates and plug-ins. If available, you should pay for a domain name that contains one of your keywords or phrases which will help to get your website higher up in the search engines. Don’t use brand names as this may lead to headaches later on.
When your web site is up and running and getting a good number of visitors, you can then start to monetize your web site and make a steady income from it. Alternatively, you may want to sell it later as a lucrative business for which there is a ready market.