Are you thinking about starting a blog? Maybe you are a budding infopreneur. Perhaps you would like to start your own online business. No matter what type of Internet presence you are trying to develop, it is a good idea to focus on one particular niche.

At first thought, you may think that blogging about some large topic like beauty products is a good idea. After all, men and women spend hundreds of billions of dollars each and every year trying to look beautiful and attractive. With all that money out there, doesn’t it just makes sense to shoot for some large business category?

The answer is… No!

Sure, there is a lot of money to be made in the beauty product category. However, there is so much money in that field that large companies sink tons of cash into dominating that niche. There are literally thousands of blogs, websites and online businesses which have developed a respected position online selling beauty products.

Niche Marketing - Keyboard close-upSo the competition is extremely large, very talented and knowledgeable about their field, and they have much more money than you do to spend on marketing and attracting customers.

The smartest way to choose a niche for your business is to do what the oil companies do… dig down deep.

Before we explain the proven and profitable system for selecting a market for your business, let’s define exactly what a niche is.

Niche Marketing Defined

BusinessDictionary.com (a great place to go online for defining business and marketing terms, by the way) has this to say about niche marketing:

“Concentrating all marketing efforts on a small but specific and well-defined segment of the population. As a strategy, niche marketing is aimed at being a big fish in a small pond instead of being a small fish in a big pond.”

Niche Marketing - Definition in dictionaryThat illustrates our example about beauty products perfectly. Your niche should not be some large market. The more targeted you are when you’re selecting a focus for your business, the less competition that is out there. Also, smaller niche markets tend to be closer to making a purchase decision. The people that make up these focused niches are very passionate about the goods and services that are marketed to them.

This makes selling much easier. It makes researching much easier to, since you have a narrow and pinpointed field, instead of a vast market to understand. And contrary to popular belief, you don’t need a large market to make a very good income online.

Being Seen as an Expert Is Easy

Another benefit of choosing a very specific niche, rather than a general one, is sometimes overlooked by beginning online marketers. As we just mentioned, researching a small market is easier than researching a big one. That means there is a much quicker path to becoming an expert or guru.

This means that you can quickly develop a reputation as the “go to” guy or gal in your niche market. Also, when you focus on one area of expertise, building products, whether real or virtual, and offering services is much more efficient. You don’t have to offer a ton of different services to your audience.

Many niche marketers and bloggers have just 1 information product that is the base of their revenue. They may develop other products and offer other services from time to time, but that main info product is what they are known for. Seen as an expert with your name attached to a single problem-solving product virtually guarantees sales for years, as your name and the name of the product you are selling become synonymous.

Take this example

When you think of General Mills, you think of food. General Mills in 2013 rated as one of the top 5 food producers in the world. They have literally thousands of products which they offer. So when you think of General Mills, you think of food in general, but not any specific type of food.

On the other hand, what comes to mind immediately when you hear the name Orville Redenbacher? Popcorn!?! By focusing on a single food product instead of several, the bow-tied gentlemen in the Clark Kent glasses created and manages a billion-dollar company.

More to the point, he did so by focusing on a very specific snack food. He knew that people who love popcorn would voraciously eat up (pun intended) his product if he made a better popcorn than everyone else, and marketed it properly. He did, they did, and another niche market success story was created.

To recap …

  • Researching and managing a smaller company is easier than a large one.
  • Your target market is passionate about what you have to offer.
  • You face less competition.
  • It is easier to be seen as a guru or expert.
  • Selling is easier versus a large niche, because your market is closer to making a buying decision.

Okay, now that you know the reasons for “niching down” when choosing a market for your business, let’s look at a couple of ways to uncover the perfect niche for you – 1) Brainstorming and 2) Keyword Research.

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