Welcome to Your 5 Day Training Course
Day 3: Choosing A Niche Video
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Today is an extremely important day; you will be choosing the niche for your online business. Today I will show you some examples of niches and ways to find lucrative, small segments of the market. But before we jump into today’s lesson, make sure you have completed the tasks of Day 1 & Day 2.
In case you need a refresher………..
Now that we all are current, lets begin with Day 3 Lesson:
What Is A Niche?
No doubt, you know the meaning of the word ‘niche’. For business purposes, Merriam Webster defines it as:
“the situation in which a business’s products or services can succeed by being sold to a particular kind or group of people.”
This is a fairly broad definition as it relates to business. A more specific definition as it relates to the Internet and web marketing can be found here. The author states that a niche site is:
“A Website that Focuses on Specific Information that is Both Useful and Interesting for a given audience”
In other words, a niche is a small segment of the market which you will target with your website. Your niche should be…….
- a topic you are interested in, have some knowledge about, and are able to provide helpful information people are searching for
- as NARROW as possible. I am going to show you on a hot niche what I mean by NARROW and ‘how to drill a niche down’.
Market: Digital Cameras
Digital Compact Cameras > Point & Shoot > Make > Model > Price Range*
Digital Compact Cameras > Superzoom Bridge Cameras > Make > Model > Price Range*
Digital Compact Cameras > Interchangable Lens Cameras > Make > Model > Price Range*
Digital Compact Cameras > DSLR Cameras > Make > Model > Price Range*
*Price Range to attract people that search with price range specified
Despite the fact that everybody can take pictures, and even record a video with their cell phone, the Digital Camera Market is still one of the hottest markets. I choose digital cameras to demonstrate the importance of narrowing down a niche in the video below.
I think this video made it obvious why you MUST narrow down the big ‘Digital Cameras Niche’. You can do that in every segment of the market. Here are a few more examples:
Market: Video Games
Video Games > Sport Games > Niches: Football, Basket Ball, Baseball or Hockey
Video Games > Adventures > Niches: First Person Shooting, Quests, etc.
Video Games > Board Games > Niches: Chess, Checkers, Monopoly, etc.
Niche Research: How To Find Your Niche
At this point you should have some basic niche ideas you are interested in. Now you have some research to do to find out what’s trending, searched for and, most importantly, selling. The best source to find out all of this is……….Amazon.
The largest online retailer in the world is a treasure chest for affiliate marketers. They make it easy for you to determine what niche you want to attack.
Simply log in to amazon.com and look at their main menu. Here you have the different markets. Go through the whole menu and click on the main category “Cameras“, and you get a list of sub categories to explore. I am sure, you get the drift. Drill down and look at the products, prices and so forth.
They even have a tab “Best Sellers” for each category and the sub categories.
2) The “Google Alphabet Soup”
I am sure you performed google searches and noticed the ‘suggestions’ that pop up as soon as you type the first word. These suggestions are actually compiled from the phrase people use in their searches. There is a little know technique you can use in your niche research.
Let’s stick with the ‘Digital Cameras‘ example: Type Digital, then a space, enter an ‘a’. Look at the suggestions, nothing of use for you. Back space and enter a ‘b’. Same thing, nothing. Back space and now you enter a ‘c’.
Now you get, among others, ‘digital camera’. Ok, you have ‘digital camera’ in the search bar, enter a space after the word camera and start all over…….when you get to ‘c’, Canon pops up. Yes, now we are getting somewhere; continue doing this and you get a pretty good understanding where your niche will be.
These are two proven methods to perform niche research, and you can do it without any tools. Yes, there are tools available to make life a lot easier, but for now, the manual way is efficient enough.
This concludes Day 3 of our 5 Day Training To Success.
But not so fast, don’t leave just yet. There are a few Day 3 Tasks you need to complete, because tomorrow will be an exciting day.
Day 4 Topic: You Build Your First Website!
Tomorrow we will be talking about Domain and Website names, your niche and how this all ties together. Then, you will create your first affiliate website!
Day 3 Tasks:
1) Log on to your Free Wealthy Affiliate Account and complete Lesson 2 of the Get Started Course
2) Log on to your Free Wealthy Affiliate Account and complete Lesson 3 of the Get Started Course
3) Complete today’s lesson and decide on your niche
4) Go to MY Profile Page at Wealthy Affiliate and tell me your niche ideas!
That’s all for today. See you tomorrow!