1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

The Niche Guide - Intro & Part 1 (Finding A Niche)

Discussion in 'Making Money' started by wealthy199, Apr 5, 2008.

  1. wealthy199

    wealthy199 BANNED BANNED

    Joined:
    Sep 24, 2007
    Messages:
    585
    Likes Received:
    1,088
    Ok,

    Nearly every day someone posts a new thread on BHW that looks something like this...

    So I've decided to create a no B.S. lot of threads which detail a simple system to make money which WILL work if you implement it. It's not a get rich quick scheme or a quick fix solution. It's a proper system which thousands of people use every day to earn a full time income.

    It's called Niche Marketing and I'm sure you've all heard it before.
    The information detailed in this series are all part of the system and specify the exact process you need to go through in order to start profiting from these tiny Niche Markets.

    So...

    PART 1 - Finding A Niche

    The first step to creating your Niche Empire is to find some profitable niches.

    When selling a product, a lot of people make the mistake of developing their product first, and then trying to find a market for it.

    Of course, the process should be reversed.

    First, find a market that spends money, then find out what they want and give it to them.

    Deciding on what product or service you will promote in a niche market should be based on a simple principle. There should be a demand for your product or service. You want to offer something that people actually need, something that will make their lives better, make them feel better physically, make them look better, or help them solve a problem.

    The process I go through when looking for new niches to enter is as follows.

    For starters, I'm always aware of trends and current events in the real world. I read several newspapers each day, many magazines, both general and niche-specific, I watch the news, I listen to the radio. Occasionally something that I hear or read will stick with me. I may jot down some notes, or draw a diagram to help me remember it. Sometimes I'll call my phones voice mail and leave myself a message.

    But at some point I'll have several broad ideas to research. I want to look deeper. And I want to make sure there is a good market for them before I even think about creating a product.

    To begin with, I check out the hottest search trends at Google's http://www.google.com/trends/hottrends. At this point I am just looking for ideas.
    If I see that a particular topic is hot, I'll make a note of it and look at more targeted sub-niches later on at more specialized sites (which I'll show you in just a minute!).

    [​IMG]

    The http://50.lycos.com is another site, like Google's Hot Trends, where I will review the latest trends and look for hot topics to explore further. I will also look at http://buzz.yahoo.com for ideas as well.

    The http://pulse.ebay.com site is a great place to start looking at sub-niches. What I will do is select the category first (using the topics I've gathered from looking at the previous sites), then look for profitable sub-niches by then selecting a sub-category.

    The best chance for success is if I am as specific as possible with my niche selection. In the example below, I don't want to sell to the "crafts" niche.
    I want to sell to grandmothers who enjoy giving their latch rug hooking gifts to their families and friends. Whatever. You get the idea.

    [​IMG]

    Also, I'll always check the largest stores as well to see what they're selling. There has to be a reason they are the largest stores. They must be doing something right.

    TIP: eBay also puts out a PDF report of their hottest categories each month, available at http://pages.ebay.com/sellercentral/hotitems.pdf.

    Now that I have some potential sub-niches to work with, I want to see how much of a market there is there.
    Just because a sub-niche is popular doesn't mean people spend money on it.

    http://amazon.com is a great place to see what currently exists for any given sub-niche.
    Chances are, the more books there are written on that subject, the more that market spends on those topics.

    For example:

    [​IMG]

    First I specify "Books" to search. Then I enter my niche, in this case "crafts."
    Uh oh. There are WAY too many books returned. This niche is not targeted enough. It is too "mainstream."

    [​IMG]

    Much better! There are possibilities here.
    We now suspect the following:

    1) This sub-niche may be targeted enough.
    2) This sub-niche may spend money.

    Once you have an idea of which niche you want to target, it's time to determine its profitability. For this, you would have to use the tools found at:

    http://freekeywords.wordtracker.com/
    Or...
    http://www.digitalpoint.com/tools/suggestion/

    Simply type in the idea you have in mind, and press the submit button. You will then be presented with a list of keywords and key phrases that are related to the subject you have entered. Each keyword or key phrase would have an indication of the number of searches that they have gathered from search engine users. The number of searches made for a particular keyword or key phrase is a good barometer of the demand. You'd want at least 5,000 searches for your main keyword.

    Here are several other sites you can use to get niche ideas:

    Nichebot - http://www.nichebot.com
    Shopping.com Top Searches - http://www2.shopping.com/top_searches
    AOL Hot Searches - http://hot.aol.com/hot/hot
    Google Groups - http://groups.google.com
    Craig's List - http://www.craigslist.com
    Delicious Popular - http://del.icio.us/popular
    Dig - http://www.digg.com
    Google Catalogs - http://catalogs.google.com
    Google Suggest - http://www.google.com/webhp?complete=1&hl=en
    Technorati - http://www.technorati.com

    Also, I'll do several targeted searches in both Google and Yahoo (for example, on the subject of "hobbies").

    And of course I will always Google my keywords and check out the competition in the Adwords ads. In this case I pay special attention to the ads that sell information products (or services like mine if I'm selling a service).
    Some of the ads will be irrelevant as far as competition goes.
    Ok, the next thing I'll do is check how many magazines there are on the subject of my chosen niche.

    Ok, the next thing I'll do is check how many magazines there are on the subject of my chosen niche.
    There are two places I go online for that:
    Magazines.com - http://www.magazines.com
    and
    Amazon - http://www.amazon.com/exec/obidos/tg/browse/-/599858/
    At each site, I search by category to find the magazines in my niche.

    Obviously the more the better, up to a point.

    For example, golf has a lot of magazines, but it's not a good niche by itself. It needs to be more targeted. But in that case I can always get more targeted sub-niche ideas within that topic by looking at the types of magazines for that topic.

    The next thing to do to find out more about a niche is to visit the forums. By visiting forums and taking note of what people are most concerned about you can search the Internet for products and services that will help them solve those problems. Gather the information about the topic. Do some spy work.

    Ok. By now you should have found a profitable niche market.
    There are plenty of sites I use for research in addition to the ones above, but they are usually niche specific. These sites will help you to research practically any niche market effectively. Once you have this process down, you'll be able to do this very quickly.

    Anyhow, that's it for now. The next step is understanding who your target audience is. To find out how to do that, keep reading here:
    http://www.blackhatworld.com/blackhat-seo/making-money/10225-niche-guide-part-2-understanding-your-target-audience.html
     
    • Thanks Thanks x 418
  2. gokarter

    gokarter Regular Member

    Joined:
    Nov 6, 2007
    Messages:
    218
    Likes Received:
    40
    Occupation:
    Machinist
    Location:
    Canada
    Very Nice Wealthy

    This should Hopefully put and end to a lot of the repeat Questions being asked.

    Nows all they need to do is search for the answers to there Questions.
     
    • Thanks Thanks x 1
  3. Jagged55

    Jagged55 Power Member

    Joined:
    Mar 27, 2008
    Messages:
    747
    Likes Received:
    325
    Occupation:
    Internet Marketing
    Location:
    Canada
    The questions will still be asked but at least there will be a post to refer people to ;)
     
  4. gokarter

    gokarter Regular Member

    Joined:
    Nov 6, 2007
    Messages:
    218
    Likes Received:
    40
    Occupation:
    Machinist
    Location:
    Canada
    Yes You are very correct ,thats sorta what I meant to say in a round about way.
     
  5. DeskCoder

    DeskCoder Regular Member

    Joined:
    Feb 20, 2008
    Messages:
    376
    Likes Received:
    55
    Occupation:
    Coder
    Location:
    Kentuckiana
    Wait, so I'm a newbie, how do I make money from the internet?

    Anyone? Anyone? Bueller?
     
    • Thanks Thanks x 1
  6. bstbiz

    bstbiz Junior Member

    Joined:
    Jan 3, 2008
    Messages:
    126
    Likes Received:
    34
    wealthy199
    Nice and important thread you started.
    Can be trully helpful for many...:)

    Keep up the good work.
     
  7. RiTu

    RiTu Regular Member

    Joined:
    Oct 28, 2007
    Messages:
    403
    Likes Received:
    158
    Location:
    shiver down your spine
    Good, ultimate, basic guide :)
     
  8. zskk1

    zskk1 Registered Member

    Joined:
    Jan 23, 2008
    Messages:
    95
    Likes Received:
    57
    Very basic and straightforward guide. Great work.
     
  9. rushi

    rushi Registered Member

    Joined:
    Feb 2, 2008
    Messages:
    71
    Likes Received:
    54
    Really helpful information wealthy199
     
  10. millhoy

    millhoy Newbie

    Joined:
    Feb 20, 2008
    Messages:
    21
    Likes Received:
    3
    thanks for the info. now all i need to do is apply it to what i'm currently doing. I have to take some steps back but thanks for the direction.
     
  11. infinite78

    infinite78 Newbie

    Joined:
    Feb 23, 2008
    Messages:
    16
    Likes Received:
    13
    Location:
    NYC
    thanx im gonna put this to good use, i was just about to sign up to a proxy forum
     
  12. LloydDobbler

    LloydDobbler Junior Member

    Joined:
    Nov 7, 2007
    Messages:
    117
    Likes Received:
    10
    Occupation:
    Search Engine Marketing
    Location:
    NYC, Chicago
    great thanks
     
  13. articlecash

    articlecash Jr. VIP Jr. VIP Premium Member

    Joined:
    Feb 23, 2008
    Messages:
    101
    Likes Received:
    101
    Thank you wealthy199
    for starting this Excellent thread here.

    You show me, with examples and link to websites, how to find profitable niche....going and reading your other thread also.


    When ur site launch, consider me also...I subscribe to email list there
     
  14. drigger

    drigger Newbie

    Joined:
    Jun 4, 2008
    Messages:
    40
    Likes Received:
    28
    Location:
    Virginia
    Home Page:
    What was in the picture that's missing below:

    Uh oh. There are WAY too many books returned. This niche is not targeted enough. It is too "mainstream."

    [​IMG]

    Much better! There are possibilities here.
     
  15. eazimarket

    eazimarket Newbie

    Joined:
    Jul 4, 2008
    Messages:
    10
    Likes Received:
    18
    Occupation:
    Self Employed
    Location:
    Florida
    Home Page:
    I wanted to add another niche keyword search tool here at http://tools.seobook.com. I use it all time and it comes up with some awesome results.
     
  16. vinku

    vinku Regular Member

    Joined:
    Jan 22, 2008
    Messages:
    331
    Likes Received:
    1,054
    Thanks a lot
     
  17. lloydvoid

    lloydvoid Newbie

    Joined:
    Jun 28, 2008
    Messages:
    2
    Likes Received:
    23
    Pity there is no mention of Micro Niche Finder
    May be in Part 2 - Good Info - great stuff!!
     
  18. Rambo

    Rambo BANNED BANNED

    Joined:
    Aug 30, 2007
    Messages:
    499
    Likes Received:
    88
    This is a great guide for a newbie!

    I just hope people appriceate it.
     
  19. datruf

    datruf Newbie

    Joined:
    Aug 5, 2008
    Messages:
    36
    Likes Received:
    5
    Occupation:
    Midnight plumber
    Location:
    Near Tallahassee
    Great post
     
  20. b1xx1b

    b1xx1b Newbie Premium Member

    Joined:
    Apr 9, 2008
    Messages:
    28
    Likes Received:
    3
    THanks for a well thought out post.