You may have been told in the past that the business opportunities which you should pursue are those which you are passionate about, but also reside in an overlooked niche market. This is absolutely what you should be pursuing. Consequently, you ponder your interests and search for matching keywords and search phrases. If you find that certain keywords are being frequently searched each month, and then a potentially niche market exists in your targeted area.
Unfortunately, seeking and finding a niche market which interests you is only part of the task. You have to ensure that you are in fact reaching the demographic which is most interested in your products or services. Once you have done this, you have to identify what this market wants or needs, convince them that they have these wants and needs and find a way to provide the solution to them. How do you do this?
My suggestion is that you avoid all of that. Instead of trying to develop a completely new concept and identify a new niche market, you can piggy back on an existing niche market, if is well aware of the concept which you are promoting. For instance, who is not familiar with the concept of weight loss? Everyone is familiar with this concept. However, while people who wish to lose weight fall within a niche market, this is still a fairly heterogeneous market. There are those people who want to lose ten pounds for an upcoming wedding, and others who need to lose one-hundred pounds if they want to stay alive. Can you see what we are doing here? We are taking a niche market, and breaking it down into further sub-niche markets. This is where you will find your business opportunities.
It is totally unnecessary for you to try and search for a new niche market which no one has uncovered as of yet. If you were to go this route, you would still be charged with the task of teaching this niche market about your new concept, in addition to convincing them that they actually need what you are offering. This whole process would probably take you over a year to research, not to mention tens of thousands of dollars. Does not sound like a lot of fun.
Fortunately, someone else has done the heavy lifting for you. Not only have they targeted the market, but they have spent all of the money researching this market. All you need to do is reap the benefits of their hard work. This will be done by first identifying the your niche market of interest. Thereafter, you will search for the top companies within this niche market, and visit their websites. Here is where you will need to focus. Look at what they are doing to show their visitors that what they are offering is going to satisfy their visitors’ want and needs.
Now here is what we are going to do. Let us take the weight loss example that we have been using. Remember how we were able to identify our target market of those who are interested in weight loss, and then further break that market down? We were able to separate those who needed to lose weight to stay alive, from those who wanted to lose weight just to feel better about themselves. What you will see with the larger companies, is that they treat everyone within this niche the same. In other words, they just focus on losing weight in general. Therefore, they offer one thing to a heterogeneous market. For instance, a more popular company offers packaged meals to those who want to lose weight. The only thing is that most people who want to lose ten pounds in the next three months are not going to go for such an offer. It probably is not worth the money or effort for them. Rather, such an individual might be more apt to be attracted to software which can tell them if they eat certain things, and exercise for a specified amount of minutes each day for the next ninety days, they will lose “x” number of pounds. The fact is that such software does exist, and may be the solution for this sub-niche market.
So what do you know about your sub-niche market? You know that they do not need to lose a lot of weight. You know that they are price sensitive. You also know that they have a goal to lose a certain number of pounds by a certain date. Are you starting to recognize what this sub-niche market’s hot buttons might be? Use this information to show your sub-niche market how your offer provides the solution to their problems. Focus on the customer, and what is in it for them. They must be able to envision themselves as they want to be. You have to let your customer know that unless they buy your product, they will not hit their goal.
As you can see, with a little bit of imagination and research, business opportunities come to live. Identifying these sub-niche markets is how you can do extremely well with your online business.
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