What you’re looking for ...
How to determine a niche market on the internet and why the "internet marketing" niche should be avoided so that you can build a profitable online business.
Most people are worried about how to get traffic or monetizing the market. This is important stuff but ... it should not be the main concern at all.
The main concern should be finding a good market which is actually, finding good keywords online.
So, what is a good market?A market that you can make money in ... and also, preferably dominate. Dominating means being the #1 in the mindshare of your potential customer.
You see, the "internet marketing" and "business opportunity" can be excellent markets as well. In real actual fact, THEY ARE.
But the statistic of success would be very low unless you have these 2 power "ingredients":
1. Success proof- Success proof is basically the evidence you can show to be 'qualified' as someone who can pass on the knowledge or teach.
Most of the of time, it's dependant on how much money you have made online, traffic, subscribers, etc that you have depending on what you're going to teach. If you want to teach the topic of "list-building", you better have a huge list of your own to act as a proof of what you're going to teach. If you want to teach about "viral marketing", just make sure that you're getting traffic FROM viral marketing.
The good news is, if you know how to select an uncompetitive niche market, you have "qualified" yourself easily.
Put it this way You can be an authority on "how to makeup" as long as your makeup methods can make a girl look pretty. Make sense? It's about PROVING RESULTS.
2. Supported credibility- Supported credibility can come in many forms. If you're an author of a tangible book or a speaker in a well-known seminar, you have automatically gained the supported credibility. Another form of supported credibility is by having testimonials from YOUR COMPETITORS or other well-known Individuals in your particular niche market.
If you have these two power ingredients, you should get into these types of competitive niche markets that you want to do.
What I'm trying to say is that you should not go into these niches if you do not have success proof or supported credibility, because it'll definitely be easier if you have them in your hand.
If you're going into an uncompetitive niche market, those problems are automatically solved.
But choosing a market depends on more than just merely looking at the market entry advertising cost and the volume of searches from http://inventory.overture.com/d/searchinventory/suggestion
It's not about the stats you got from research.
It's about…UNDERSTANDING YOUR MARKET.
I know you might hear about this over and over again.
I hope I've "nailed" it down in your mind this time...
"UNDERSTANDING YOUR MARKET will make you a very wealthy person online."
Put it this way, if you don't understand your market, you can't sell a thing to it.
One of the ways to determine a buying market that I've always stressed to my students is ...
These are the 'believers/followers'. It's really hard for me to tell you which niches these are ... but as a simple guideline, ask yourself,"How much do they really need it?"For instance, model train hobbyists are crazy spenders for anything related to "model trains".
That's why, "internet marketing" or "how to make money" niche markets can sell very well. There are a lot of hardcore believers/followers in these niches.
Look around you. You're probably subscribed to newsletters belonging to internet marketers that make money by just 'teaching' people how to make money from the internet. Is that wrong? Absolutely not ... if what they teach works. Of course, it would be VERY WRONG if they have never tried the methods to know that they are workable 100%.
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ABOUT THE AUTHOR
Discover the simple-to-follow 8 steps to be successful online and get a free copy of the Internet Niche Marketing Plan In 30 Days! Report by Patric Chan for FREE at: http://www.youchandoit.com