How to Choose Niche Market
Niche Market, in short, is a one segment or sub segment of a larger market. Choosing a niche market seems to be the first thing that people do not put much
thought into, but should seriously consider when creating a product. This is the most important step in the whole process and must be done properly.
Most people do either a) choose the market that is selling well, or seems to selling well, or b) they choose a market where they have a lot of expertise. The option [b] is a good thing, but a niche market needs to be carefully selected so that competition is not fearsome especially if you are a beginner. Even if you already have experience you have to be very careful when selecting a niche market to avoid tough and fearsome competition.
There are many problems with both mentioned ways if not done properly. Let's take the option [a] as it seems to be the most common. When you choose a market that looks like it’s doing well, if it is a hot market and a lot of money is exchanging hands in that hot market, there is most likely going to be some pretty tough competition in that market. They have larger budgets, more staff, and can accomplish much more in a much shorter time period than you can. That market is a bad choice.
There are niche markets out there that you can choose from that have not been exploited yet. Choose a niche market based on something that you already know to do, where you have experience and where you can offer people help and assistance with their work. When you really have true passion for what you are doing, then you can do it better. It doesn't seem like work to you, it's fun because you enjoy doing it.
Again, my suggestion is to create a product based on something you already know, and after you study all the steps I am explaining on this website, you will be ready to set up website and business activities around your niche market.
Before creating a product you have to do some research. As more effort you put into research before any action, the better your position on that niche market will be.
Below are a few considerations that you need to look at before choosing a niche:
• The competition you will have, and how big the competitors are
• Page rankings and domain authority of your competitors
• Backlinks and popularity of competition
• On-page SEO quality, etc.
Read about all considerations in more detail in the following sections.
All considerations are important, especially the second one. If keywords research is properly done, then you will have a clear view of on which Niche to compete, also will help you to choose your website domain name and you have a good chance to thrive in that niche. Please read about this in Keyword Research section.
When you select niche market, you finished big and most important step in your journey.
IMPORTANT - Don't jump on to the hottest market just because it has keyword phrases so much asked for on a monthly basis, find your niche where competition is low or medium (for a beginner is better low) and you will prosper and make money. Targeting smaller audience will increase the amount of money you can make.
When you have filtered out your topic ideas use Google Trends tool to check the popularity of your topics. With this tool you can test your topics on regional and global basis, make comparisons and have clear popularity view. Please read more in Keyword Research section.
Keywords and Niche Selection
Before you start building your website, you should have already performed keyword research and decide on your niche market. In other words, you build your website around targeted keywords.
As mentioned throughout this website, if you are a beginner, you should focus on keywords that bring you low competition and substantial traffic volume. If you focus on high volume traffic with high level competition, you will most likely have a lot of difficulties in your path.
Besides, it’s better to be on the first page of Google search for a keyword phrase that gets 3000 exact searches per month on your website, than to be listed on the second page with 1.000.000 searches, but no visitors at all on your website.