The definition of Niche is: a position particularly well suited to the person who occupies it; “he found his niche in the academic world”
But that’s not really what I’m talking about when I say “Niche.” Maybe it should be called “Highly Targeted, Small Market Marketing” instead because that’s what it is.
The Golf Market is not a niche; it’s too big to be a niche in my opinion. But you can find niches in that market, like “30 Days to Tiger Woods Putting” or “10 Steps to Getting on the PGA Tour”. Products like this aren’t targeted at the entire golf market; instead they focus on smaller markets within the golf market. It’s a fact that the more targeted your visitors are, the more profitable your business will be(better conversion rates, ROI, etc).
When you advertise a niche product like “30 Days to Tiger Woods Putting” you don’t advertise to people looking for golf clubs, golf magazines, golf balls, or how to fix a slice. You advertise only to the people that want to putt better, or maybe even the people that want to improve their overall golf game.
I should probably warn you that unless you get Tiger Woods’s permission, it may be a bad idea to create that exact product.
Tip: If you use PPC to advertise a niche product for keywords that aren’t very targeted(like “Improve my golf game”), you could qualify your prospects in your Ad by writing it so that only those interested in putting better click on it. That will greatly increase your ROI and Conversion Rate because you won’t have untargeted people clicking the ad.
The first step to creating a profitable niche product is finding a hungry market. The niche product I’m working on now kind of fell into my lap so research wasn’t done in the normal way. It’s related to another one of my successful niche products so the main research I did was on a competitor that appears to be making a lot of money.
When it comes to finding a niche, the most common advice is to use one of those search tools that tells you how many times a keyword or phrase has been searched for. That’s not a bad thing to do, and it’s definitely useful information. What it doesn’t tell you is how “hungry” that market is.
To find out how hungry a market is, you should check out forums related to that market and look at what people are asking. Are there a lot of people looking for answers about specific topics? Are they getting good answers? Do they look desperate for answers or help? Forums not only tell you how hungry the market is but they also tell you exactly what that market wants, so you can create a product that contains everything your market wants to know.
To really understand which niche products sell and which ones don’t, you need to look at some good examples. One place you could do this is the Clickbank Marketplace. Go through each category and sub category and look at the top 10 or 20 products. Those are the ones that are selling.
You don’t have to be original or innovative. Don’t “reinvent the wheel”, when you can easily see what’s working and create a product for an already proven market.
Now pick something that you know is selling, that has a hungry market, and that doesn’t have too many competitors(but some are good).
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