How Do I Find A Niche Market?
Author: Bean | 
| Niche Development |
How Do I Find A Niche Market?
Today’s Niche Research: Primer
When conducting your Niche Market Research, begin by narrowing down the field. You will find that Niche markets are generally subsets of larger markets. Then determine, by narrowing the research, if it's a potential market that can stand on its own.
Business is business and you can market virtually any product or service. Remember though, in general, if there is no demand, there is no market.
Exception That Proves The Rule:
Prior to the popularity of “Pet Rocks” there was absolutely no market for this product. With a good marketing campaign, a lot of money, and an unusual niche market product, you can sometimes create a “demand” and a “market” simultaneously. However, this is the exception, not the rule.
Narrowing down a Niche Market - Overview:
A.)
- Sports – Top Level Market
- Baseball – A Subset of Sports
- Baseball Memorabilia - A Subset of Baseball
- Baseball Cards - A Subset of Baseball Memorabilia
* The following results were current as of this writing.
SEARCH VOLUME*
| KEYWORD | LOCALLY | GLOBALLY | Est. CPC |
|---|---|---|---|
| Sports |
68,000,000 | 55,600,000 | $1.02 |
| Baseball | 24,900,000 | 24,900,000 | $0.96 |
| Baseball Memorabilia | 90,500 | 135,000 | $2.43 |
| Baseball Cards | 1,500,000 | 823,000 | $0.7 |
SEARCH ENGINE RESULTS PAGE (SERP)*
| KEYWORD | YAHOO | |
|---|---|---|
| Sports | 919,000,000 | 6,370,000,000 |
| Baseball | 144,000,000 | 966,000,000 |
| Baseball Memorabilia | 3,720,000 | 38,600,000 |
| Baseball Cards | 30,700,000 | 105,000,000 |
B.)
- Collectibles – Top Level Market
- Sports Collectibles - A Subset of Collectibles
- Baseball Collectibles – A subset of Sport Collectibles
- Baseball Cards – A Subset of Baseball Collectibles
For “B.)” I’ll leave the research to you for the “Search Volume” and “SERP.”
SEARCH VOLUME:
SEARCH ENGINE RESULTS PAGES:
Yahoo
Bing
Etc.
You should also perform this simple task at MSN, Alto Vista, etc., or any Regional Search Engine you may want to target.
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So here we find that the Niche Market “Baseball Cards” resides in at least two General Markets and in reality, is quite a large market by itself. Competition certainly looks tough! Hmmm, You may want to further consider smaller subsets or niches to suit you.
Review
Visit and Study Forums:
- See what problems the members face
- Review what they are discussing
- Review member solutions to issues
Study the Competition!
- SERPs Ranking for the Relevant Keywords
- Web Design of the Competitors
- Quality of Content
- Keywords they advertise for
Perform Keyword Analysis
- Get Count of Competitive Web Pages with your Keywords
- Get Count of Search Volumes for those keywords
- Feasibility Study: Perform calculations on that data
- Hone To Niche Relevance
Now, clearly these result show that “Sports” is not a niche market. This keyword search term is too broad, generic, and is not considered a ‘Buying’ Keyword. If you were to target “Sports” and be exceptional at SEO this may get you lots of traffic, but not quality traffic that converts.
It is very difficult to get products listed on the first few pages of Google (or other search engines) with (SERP) competition like Sports illustrated, FoxSports, Yahoo, CBS Sports, etc. They have huge backlink structures as well as volumes of content, amongst the myriad of other things going on. Besides the fact, this is not a Niche market!
By now, you should have a list of a few general topic areas that will get you started on defining your niche market. But how do you narrow these down?
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