How To Choose The Right Niche

The most important step in starting any business is the first step: choosing the right niche. If you don’t pay much attention to this very first step, your whole plan will fail because everything depends on this step. This first step of choosing the right niche is like choosing the right seed, a seed that you plant and nurture and help grow into a big fruit-bearing tree. Plant a weak or bad seed and you will never see the friuts of your labor. Your choice of niche can ultimately be the determining factor between failure and success, so choose wisely.

But what is a niche? A lot of people venturing into the world of internet marketing are not really sure about what a niche is, some are over-thinking it while others are just plainly confused. Wikipedia defines ‘niche market’ as the subset of the market on which a specific product is focused. In layman’s term, it is basically a corner of the market that you will be targeting. A niche is an audience. If a group of people would like to lose weight then that is a niche, you can supply them with the information on how to lose weight. If someone would like to learn how to play the guitar then that’s a niche. A person who wants to whiten her teeth is a niche. A person who wants to learn how to train his dog to do tricks is a niche. A mother who is looking to buy a baby car seat is a niche. Every segment of the society that could use what you can provide is a niche.

Now that the meaning of the term ‘niche’ is clear to us let us learn how to go about finding the best niche for you. Many coaches would suggest that the best niche to choose is something that you are passionate about, something that you really know deeply. This is good advice because it would be easy for you to create content for this niche because you know so much about it and you love it. Keep in mind, you’re going to have to update this fan page on a daily basis so it is important that you know your way around your niche. When you love something, you enjoy creating things around it, churning out content for something that you feel strongly about won’t feel like work, it’d be fun.

But choosing something that you are passionate about does not always guarantee success. Some niches are profitable but many are not. If what you love happens to be something that is not profitable then it would not be good to build your business around it because no matter how much effort you put into it, the profit would never come. So you need to know if the niche that you are planning to get into is profitable or not.

The ideal niche is a niche where a good number of people need something and are willing to spend money for that something. A niche is also good if there is not that much competition. So basically, what you need to find is a niche where there is a good demand for a product but not that much suppliers. But of course such a niche is not easy to find that is why you need to learn the science of researching profitable niche markets.

Steps in Choosing The Right Niche

There are four steps in choosing the right niche. The first step is finding an audience. The second step is figuring out what the problems or needs of this audience are. The third step is finding products that will solve their problem or satisfy their needs. The fourth step is introducing the product to the audience.

To make it easier for you, I will supply you with a list of niches that are proven to be evergreen. An evergreen niche is a special market place that retains its vitality and provides income for a long time. Here are some of the proven evergreen niches that you can start with. See if some of the things you are passionate about could fall under these evergreen niches.

1. Dating. The reason why this niche is evergreen is because of human nature. Deep down within each one of us there is this need to connect with someone special, to love and be loved. As long as there are human beings in this planet dating services will continue to thrive. In recent years dating services have become more and more popular, more and more people are into it. The new trending websites in this dating market are those which match couples based on religion, ethnicity, and interests. Here are some of the proofs that this niche is evergreen: 40 million Americans have tried online dating; an average user spends $237 a year on dating sites; 20% of current committed relationships in America started online.

2. Health and Fitness. No one would like to be sick and many people are willing to spend money in order to stay fit. According to a recent Harris Interactive poll, three fourths of all American adults have gone online to find health information. Six in every ten adults look up health information online one to five times a month. Obesity is becoming a big problem in America in recent years so many people are looking for solutions to their weight problems online. The weight loss niche has always been a gold mine for online marketers. But the weight loss niche is not the only good sub-niche under Health and Fitness. Yoga, kettlebell, raw food, low carb, building muscle, running, acne, veganism, are some of the sub-niches under the health and fitness niche that you can choose to dive into. Under this niche you can always promote health supplements, health membership websites, medical equipment, health books and videos.

3. Make Money Online. Yes, more and more people are looking at possibilities of earning online. You are one of them, you purchased this product because you want to make money online. There are many many people like you around the world who want to have their share of the money that can be earned online. Everyone wants to make money, and online is one of the places where computer literate people can be their own boss. Selling products that teach how to make money online is quite lucrative.

4. Pets. Yes, almost everyone loves pets. If you look at some of the most popular Facebook pages now you will see that a number of them are dedicated to pets, mostly about cats and dogs. If you check these pets pages you will see that people are really passionate about their pets, you can see it at the interaction of the pet owners in the page. The stats on the pets niche is also good, 62% of all households in America have a pet and the cost of pet care has increased by 122% over the past ten years. Each household spends an average of $870 every year on pets.

5. Coupons. More and more people are changing the way they shop now. Many have become aware of the fact that they can take the little effort required to minimize their spending without cutting on their buying. 80% of consumers like to shop using coupons. More than three billion coupons were redeemed last year. Many companies have learned that discount coupons can actually boost their sales that is why they give out more and more coupons each year. You can help market these companies’ coupons and earn a lot of money doing it.