FINDING NICHES:BUYER AND PROFITS

Hi Nichers,

One of the toughest areas to understand, for the new
Internet Marketer, is finding a niche and profiting from
it. There are the challenges of competition, saturation,
“freebie seekers” vs. buyers, seasonal trends, customer
profiles, prices to charge, etc. Even the matter of what
day of the week to make an offer is different from market
to market.

Market research begins with finding a ready pool of buyers.
It’s relatively easy to attract people to a source of
information, if it’s free. Driving hungry buyers, with wads
of cash to spend right now, to an offer they “don’t refuse”
is a skill that takes knowledge and practice. It all starts
with locating active buyers. Never make the mistake of
trying to sell something that people don’t want. Go to
where people are already spending money and help them spend
some more.

The best place for the novice to begin (and the expert to
expand) is people who are desperate. Here’s an example: if
you have a wretchedly painful toothache for long enough,
even a phobia about dentists won’t stop you from finding
one and getting help. You certainly won’t mind paying a
premium for an immediate appointment and quick relief. Now,
consider all the painful, embarrassing, obsessive, nagging
problems that people have, from physical challenges to
greed for money, from lonely hearts to acne scars.

If you can find an affiliate program for a product or
service that caters to such a buyer, or you can create one
yourself, you have the makings of a niche market that will
pay top dollar for your solution. Remember, these people
are either hurting or greedy and have a powerful emotional
drive to spend NOW. There is one rule you need to follow
with this type of market – deliver the goods. In fact, make
a point of overdelivering on your promises to them. You’ll
create a customer that will happily send more customers
your way, via word of mouth advertising or your own
affiliate program for your product or service.

Beyond desperate buyers, there are the folks with money to
burn and a need for the best. Some of the most profitable
online businesses serve rich individuals (and companies
with big budgets) with exclusive products and services. One
pair of designer sunglasses can retail for thousands of
dollars. One corporate account for holiday gift giving can
net you enough money to buy as many pairs of designer
sunglasses as you could possibly want. Consider the luxury
market when investigating niches. The amount of money spent
in these niches is disproportionately large, when compared
to the total amount of money spent online.

Finally,  there’s your personal passion. If you love
fishing, needlework, dogs, rock climbing, post cards or any
of the hobbies and interests that appeal to other people,
there’s a way to “monetize” that hobby for fun and profit.
You can create an Authority site, a monthly membership
site, deliver products and services in your niche or simply
blog about it and put up advertising that appeals to your
readers. By exploring the Internet for others who share
your passion (and are making a buck doing it), you can
begin to develop an idea that could become an excellent
source of income for you.

The bottom line in Market Research is locating a market of
buyers FIRST. Don’t put the cart before the horse, here.
You may have what you think is the greatest idea since the
invention of round, wheel-like thingies, but will sadly
discover that no one wants to buy one from you. Find the
river of money first and bring a bucket.

Yours in profits

ugheghe enoma victor