In this article I share several ways to find a niche market and determine whether that niche is a hungry one or not. So stay tuned, if you want to learn more about finding profitable niches. Find out:
- What is a hungry niche market?
- How (and where) do you find and test these potentially profitable niche markets; these hungry niches?
Follow the steps in this article and you will find more niche markets than you can handle!
Successful Niche marketing entails concentrating your business on one or a few specific segments. It is the process of finding and serving small but potentially profitable market segments; small segments of the market that aren’t already being served by the mainstream market. These segments are also called niche markets, or niches.
The key is to focus.
Comparing to mass marketing, niche marketing is more cost effective than trying to reach “everybody”. It is a less risky strategy and provides the best opportunities for small businesses throughout any marketplace. Focussing on niche markets is probably the only chance at winning against a big competitor.
When it’s done the right way a niche marketer ends up knowing the target customer (his/her niche audience) very well.
This way chances are that your online niche business would resonate well with the audience, because the customer’s needs could be met easier and better.
Yes, when your Added Value increases, it’s more likely that your web business will strengthen and eventually this will result in higher (profit) margins.
Let’s start defining hungry niches…
What is a hungry niche market?
Well, a hungry niche:
- Is a niche market with potential to make real money;
- Is easy to market to, even if you are a beginner internet marketer;
- Will buy your (affiliate) products and services over and over again.
Finding a potentially profitable niche is important, because it can make the difference between no sales and selling over and over again.
Remember it’s all about PEOPLE and finding them: People with needs (basic necessity like food, or a car to get to work), wants (given choices, that what you prefer: healthy food, a practical car), desires (examples: a lean body, a Porsche, Maserati, no more back pain, freedom).
Your mission should be to (find them and) provide them Value and / or Solutions.
To increase your chances for online business success, it is important to take your time to research your niche market idea(s) to ensure that: It’s an idea with enough demand, meaning “a consumer’s want / desire and willingness to pay a price for a specific good or service”.
Focus on where people Already are, what they Already need, want, desire… That’s the way to locate your target audience.
You should be aware that it’s more difficult to find a virgin niche. Don’t try to create new niches and then attract people, when you are a beginner internet marketer.
It could be extremely hard to market such a niche idea, because you first have to create demand for that niche.
Keep it as simple as possible, keep it lean 🙂 especially when you’re starting out.
Besides the above guidelines, here are some additional niche finding tips to help you find niche audiences:
- Think about what people are thinking about a couple of times a day, what keeps people awake at night (back pain, acne, belly fat, hair loss, school results, …);
- Notice the words people are using. From buyers words (like own, spend, buy, review, bonus, discount, promo code, for cheap), and/or trigger words you can determine the purchasing habits of people. This means that if you market those products people would like to buy, you would likely make a lot of money marketing such products.
Okay, now we know what hungry niches are, but….
How do you find and test these potentially profitable niche markets; these hungry niches?
There are different ways to determine whether a niche is a hungry one or not. If you want a niche that is doing well in the market, and you want to test it out, then there are different sources that can help you.
Follow the steps (and tips) below to Find and Test lots of (profitable) niches……….
Findings from the next online resources would help you make a decision as to whether to use the niche idea or not:
1. Get your niche market ideas: Some interesting websites to check out.
2. Test your niche idea(s), using several online resource:
- Check out Groups and Forums;
- Google search results;
- Google’s keyword planner tool;
- Finding Your Niche products – search tool.
Let’s zoom in on the first step to find some niche markets, and get a list of profitable niche ideas…
1. Get your Niche Market Ideas: Some interesting Websites to Check Out
One way to find and test your niche markets is visiting this website: Magazines.com.
Information from Magazines.com will help you to determine whether you are likely to make money from your niche idea or not. When you visit the website, take your time to check the various categories.
When there is a magazine about a specific topic, chances are high that this topic will be a hungry niche market.
You can also head to Amazon.com to search for a good niche. Check out their books and audible department!
What if you find one or more books about several topics in Amazon’s books department? It shows that People are interested in these topics….. so these are likely to be profitable.
It could be a good idea if you market such a niche. You will probably make some real money promoting products about such niches.
Here you find lots and lots of Other Ways to get a list of money making niche ideas.
Once you have a list of niche ideas…, It’s time to Test these niche markets.
Okay, one way to determine a profitable niche is from the number of magazines / books for a specific (niche) topic, but…
What are other methods to test whether your niche idea is potentially profitable?
2. Test your niche idea: using several online resource
You can both use Magazines.com and Amazon.com to Gather niche market ideas, as well as to Test your ideas.
Here’s how you can use other online resources too:
- Check out Groups and Forums;
- Google’s search engine results;
- Google’s Keyword Planner tool;
- Finding Your Niche Products – search tool.
Check out Groups & Forums
Next, you can determine profitable niche ideas when you visit Google groups. Google groups are discussion groups for people sharing common interests.
Consider all the posts made and spot the most active ones. A lot of Active posts in a group mean: profitable niches that are ‘alive and kicking’.
You can also use (online) Forums to find and test ideas.
How?
Head over to Google search, put in the niche idea you want to market (your keyword niche market), add a plus sign to it, as well as the word “forum”.
This way you find all relevant (niche) Forums, which can help you find out what people are talking about right now; you can check for the latest posts on several topics, as well as the number of posts and / or comments.
Some of these Google search examples are: soccer coaching +forum, purse +forum, drones +forum, shoes +forum, belly fat +forum, back pain +forum, acne +forum… This will show the results (web pages) with the words “your keyword” and “forum” in it.
You can then determine the most profitable niches from those that have the most (actual) forum posts and comments.
These Groups and Forums are great sources of information:
- To help you find and choose the most profitable niches. It shows you those niches (and products) people are spending their money on, and which niches they would like to spend their money on in the future.
- For showing the kind of people who are likely to buy pain relief related products (based on the large number of posts and people’s comments).
- Also for pleasure related (niche) products; you can check on those pleasurable things (what people would like to do, have, buy) by researching posts and comments.
- To find answers (and questions) your target audience is looking for. Now you can learn what content you could create, and share (video, article / post, ebook, etc.). An excellent starting point to define your content strategy.
Find out more about Forum marketing and learn to monetize your niche idea(s).
Google search engine results
You can go to Google search and key in your niche keywords. Consider the ads on top and the right hand side. If there are large numbers of ads, it is an indication that the niche is a profitable one.
Why? Well the advertisers are willing to pay for advertising. They wouldn’t be advertising if they aren’t making money… most of them are making a profit.
Here’s where you get a feeling about the advertiser’s competition. You can check at the market level (example: “weight loss”), and/or niche down to determine the profitability of niches, like “lose weight after pregnancy”, “lose stubborn belly fat”, “healthy weight loss per week”.
Still too much competition? Then,… Niche down that market. How?
Use “Searches related to ‘your keyword’ ” at the end of the search results page.
Here’s more detailed information to check out the online niche market competition for free sources, as well as paid traffic sources….
Google’s Keyword Planner
Many internet marketers use Google’s Keyword Planner to find a profitable niche in the market that can make enough profits.
Check out the Keyword Planner to determine how many people used a particular keyword within a certain period. The keyword(s) represents the niche market(s).
When you use the Planner, you would find both the low competitive keywords, as well as the high competitive keywords. This has nothing to do with ranking, it’s about advertiser’s competition.
Those keywords with high cost per click are highly competitive markets. These are buyer markets. Niche it down to find market segments with less competition.
Look at the search results you get. If you can find a lot of keywords, then you know it’s a hungry niche and chances are high it’s a hungry market
Here’s more detailed information to find low competitive, but profitable niches….
Finding Your Niche Products – search tool
One of the biggest hurdles for entrepreneurs starting their online business are the very first steps of finding a niche in the market and figuring out what products to actually sell online.
A profitable and ideal niche market is that with a big range of Products you can sell. If you can only find one single product that you can sell to a few people, that could limit your profits. However, it depends on the type of product.
As an extra service, we have added a customized search function for You to find lots of CPA / affiliate products from several networks. Just another indication to find out whether your niche idea could be profitable or not. Type in your niche keywords Here…
Wrapping It Up
When you explore all the above steps, you would know whether you are choosing a profitable niche market or not.
Be aware, there are a lot of hungry niches out there; It’s your call to find, test, and monetize them. I am sure this article will help you.
We shared different ways to determine whether a niche has potential or not. If you want a niche that is doing well in the market, there are different online sources that can help you find and test a niche idea, such as:
- Websites (such as Magazine.com, Amazon.com);
- Groups and online Forums;
- Google search engine results;
- Google Keyword Planner;
- The Finding Your Niche Products – search function.
You have learned to recognize great indicators for hungry niche markets, like:
- The availability of magazines, and / or books (at magazines.com and / or amazon.com);
- Lots of (recent) posts, and / or comments in Groups and Forums, plus the use of buyer words;
- Ads at the top of Google search (engine results), as well as side ads;
- Many keywords for a certain (niche) topic (in Google Keyword Planner);
- Enough (niche) products and services to promote and sell online.
Follow the steps (and tips) above to Find and Test lots of profitable niches……….
But remember, you should always provide added value to your (potential) customers.
To your Success!