Niche marketing can be many different things to different people. However, if the Internet Marketer is to make it profitable then he/she must be aware of what attributes the niche requires to generate income.
Firstly, when choosing a niche, the internet marketer is looking for a captive market that is being serviced by a relatively low number of competitors. To get an idea of the competition you can first enter your chosen niche into the Google search bar and determine how many competitors are active in your chosen niche, the fewer results the better.
Internet marketers need to target their marketing techniques and adapt to real life search strategies by consumers. The easiest way to do this is to target longer phrases instead of generic one or two word searches for example; rather than choosing 'guitars' the niche marketer would chose a phrase relating to guitars that only a subset of the guitar market would be looking for such as 'Antique Spanish Guitars'.
Obviously the market for antique Spanish guitars would be a lot smaller, but so would the competition from internet marketers promoting this niche. Therefore it is significantly easier for the Internet Marketer to be an authority in this niche and capitalise on an under-supplied market.
The term used for this strategy is to use 'long tail key words' which can be found using free tools such as 'Google AdWords' or if you require a more in-depth search there are several tools on the market that will make the process a lot quicker and easier but come at a price and are not needed when first starting out.
To help determine the strength of the niche you can use Google AdWords or the marketing tools to see how many people are actively searching for your 'long tail key word'. Obviously if the search is very low then you will ultimately have very few visitors to your sight, and if the number is very high then chances are the competition will be too great. Therefore I recommend you choose a 'longtail key word' that has somewhere between 5,000 and 10,000 searches per month to maximise the activity from the niche.
Now that you have found your niche its time to start generating some income. To actually make it profitable you will have to actually sell something to the visitors on your website or blog that solves their problems, or services their needs. Now, you can spend time and money creating your own product which ultimately brings higher revenue, however, chances are you are not in a position to do so as you are not familiar with your new found topic or more likely you do not have time to research and create it.
When things are going well you can outsource this by paying others to build the product for you but to get started a much better option is to 'affiliate market' someone else's product and make a commission on the sale. There are lots of places these products can be found but I would recommend starting with two of the bigger ones being 'ClickBank' or 'Amazon'.
you can sign up as an affiliate marketer (free of charge) to both and scan the marketplaces for products that relate to your new niche. There are several indicators on the websites such as 'Avge $ / sale' or 'gravity' which will help determine how profitable each product is and how well it is selling with other affiliate marketers.
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