If you have spent anytime searching for ways to generate an income on the Internet, it is probable that you will have heard the words, “niche marketing”. In essence, we are referring to that part of a bigger market defined by a group of people with more specialist wants for goods and services that offer a business opportunity. The reason niche marketing can be lucrative is because you can discover niches where there is not a lot of competition as the bigger markets and yet there is the potential to find groups of people who are ready to purchase. Today, we will look at how you can turn niche marketing into a lucrative undertaking.
The initial step in identifying niches you can make money from is to conduct some market research and there are sites on the Internet that make this relatively quick and simple. By going to the Clickbank and Amazon sites, for instance, you’ll quickly discover that there are a wide variety of likely niches you can research. You can go through the products conveniently listed in various categories and identify the top-selling ones. Jot down those products you are interested in for further research.
Now it’s time to research a few keywords for your short listed products to find out if they are in a potentially lucrative niche. Tools to do keyword research are in abundance, some free and some you pay for, but the free Google keyword tool is just fine when starting out. In searching for the keywords you want, you normally start with a more general word that will lead you to the longer phrases that people are looking for. It is these keywords that could be the ones you can target providing they have sufficient searches.
As with your initial research, you will want to record the keywords you uncover and then check these to find out if you would be able to compete for the specific terms. This is usually done by inputting the keyword phrase in Google’s search bar and placing quotation marks around it as this gives you the amount of sites you are competing against for that term. In essence, you want to find keywords with little competition that still receive a modest number of searches. A number of these longer key phrases will be the names and model numbers of certain products which are search terms used by people who are about to purchase rather than those simply looking for information.
The crucial initial step of market research is finished and now you can make a blueprint for your new web site based on the keywords you have chosen. A self-hosted WordPress blog has been found to be especially effective for this, especially if you can use this on a domain that is a perfect match for your keyword phrase. If you see that an exact match domain is available, this can help your site to rank well for the search term although we don’t mean trademark names here but more general buying terms.
Once your website is set up and getting a fair number of visits, you can then start to monetize your website and make a regular income from it. Alternatively, you may want to sell it later as a lucrative business for which there is an existing market.