Finding niche markets needs a degree of research, but it’s something that you can easily do yourself.
For starters, if you’re feeling a lack of inspiration, pop over to Amazon and take a look at the “Hot One Hundred” books list – any ideas? Take a look at the current best sellers in all the categories. These are all subjects which people are interested right now. And, what’s more, they’re putting their hand in their pocket and paying for items in those niche markets.
Say, for example, you noticed that books on outdoor survival were very popular – you may then want to note this down for further research – size of market, competitors, keyword searches etc.
I am frequently asked what is meant by a “niche market.” Well, a niche market is a subset of interest amongst a large group. For example, what are your interests? Your likes? Your dislikes? Find something you’re interested in and then “niche down”.
“Niching down” means that if you decide that FLOWERS will be your niche then you will quickly spot that FLOWERS is far to generic and “niche down” to something like “RED ROSES” or “PURPLE TULIPS.” The number of customers in the purple tulips marketplace will be smaller but so will be the competition. Having a niche market makes it easier for you to know exactly who your target market is and it becomes much easier to reach that exact audience. The more you “niche down” the truer this is.
Finding niche markets needs a degree of research, but it’s something that you can easily do yourself.
