Checklist for Choosing Your Online Niche
Niche market selection is sometimes the most important part of building an online business. For bloggers, infopreneurs and other online business owners, knowing that you have a viable market is important before you spend your hard-earned time and money. The following tips are useful for choosing a niche, and will give you the best chance at success before you even begin.
☐ The phrases Google suggests have already been searched previously by millions of web surfers.
☐ Amazon has already done a lot of data research for you. If a niche market is popular on the world's largest retailer, there is definitely money to be made in that area.
☐ Remember, "It is better to be a big fish in a small pond, than a small fish in a big pond."
☐ Smaller, niche markets tend to have prospects closer to making a purchasing decision. This means less marketing, and a shorter sales cycle.
☐ Niche markets, as opposed to monster markets, are easier to research as well. There is not that much information you need to consume to become an expert or looked upon as a guru.
☐ Selling is easier in a smaller marketplace. You don't have to deal with the competition of a large niche, and it is easier to create a "face-to-face" virtual relationship with your prospect.
☐ Use your local magazine rack or bookstore to brainstorm business ideas. It costs a lot of money to produce and market books and magazines. The publishers and creators that market this print media do a lot of research before spending money on marketing, so when you see a book or magazine for sale, it is probably based on a topic or niche that is popular.
☐ Search for a potential niche on Amazon. Type a keyword into the Amazon search engine. Look to the left hand side of any results you are given, and filter for a list of viable niche markets.
☐ Create a blog or business based on something you're passionate about.
☐ Choose a niche in which you have received certification or advanced education. This gives you the appearance of authority from the start.
☐ FAQFox.com is a great site for understanding what people are talking about online regarding a certain keyword or phrase.
☐ The Udemy search engine (at Udemy.com) reveals markets where people are paying their hard-earned money for courses and education.
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