Niche Markets: Accurately Targeting A Niche Market

This post was written by Internet Marketing John on May 22, 2010
Posted Under: Niche Markets

Accurately targeting a niche market is absolutely the most overlooked and most essential part of any home based business.

When targeting a profitable niche market that you hope to be successful in, don’t just pick the target; discover it!

Much has been written on targeting a niche market by the the marketing gurus, information peddlers, and coaching experts giving advice that “you must have” in order to succeed.

But the only real way to do it, is by finding an unmet need, and solving it with information that you are able to furnish.

First of all, there are basically two types of information.

Suggestions and Solutions

  • Generally, the “experts” are the people who create suggestions.
  • The real money makers, are the people who create solutions.

Remember that!

The real difference between the two, is that one is being searched for, and the other is not.

Anyone and everyone can provide suggestions.

People are willing to pay real money for solutions, they don’t pay money for suggestions.

So the question now is how do you know what you’re relating; suggestions or solutions?

If you’re teaching suggestions, they are based on logic and long term thinking; basically What A Person SHOULD Be Doing.

Suggestions are normally based on prevention, and are are usually theoretical or conceptual in nature.

Let’s take an example.

If you’re teaching suggestions such as with weight loss; you would telling your audience, YOU SHOULD eat low carb foods that don’t have a lot of processed carbs.  Or, YOU SHOULD eat low fat meals so that you don’t gain any weight.

Suggestions are very logical and are all based on what is the right thing to do.

But, suggestions are NOT what people are really looking for!

Try contrasting this with solutions.

Solutions will provide a specific tangible, measurable result, deliver immediate relief for an aching problem, and are being searched for by a great number of people.

When someone is searching for a solution for something; they will go to any length to attain it.

They will purchase the product because they basically can’t help themselves from not doing so.
Super targeting is the partial secret.

However, here is the key to successfully targeting a niche market.

The difference that makes your information either a solution or a suggestion, isn’t about the information or the knowledge itself.

The thing that makes it a solution, is that someone is looking for it.

The proportion of information products that are out there on the Internet on suggestions, coaching, or advice, versus solution information products; is about 95% suggestions to only about 5% solutions.

The ideas people give you to start information businesses, are almost always suggestions and not the answer to what people are actually searching for.

Psychologically, people are prewired with an instinctual drive to meet our needs.  If our needs are not met, we got out and search for solutions to meet them.

It’s just that simple!

When targeting a niche market, the biggest “consumer needs” are with the big 3 mega niches.

  • Relationships
  • Health
  • Success In Money and Business

Almost all of the money that is made with information products, advice, and coaching is made because we need successful relationships, we need to survive, and we need success in our lives.

Most people fail with information products because they create products that are not specifically designed to meet an internal psychological need.

The people who typically succeed, do so because they created a product that solves one of these deep underlying needs quickly and efficiently.

When you combine the ideas of discovering a need, creating a solution for the need, and doing it with one of the three mega niches; you increase your chances of success dramatically.

About 95% of niches aren’t worth a hoot anyway when it comes to selling high priced information products, advise, or coaching online.

When targeting a niche market;  map the problem, make a solution for it, and remember these points.

  • Is your prospect emotionally motivated enough to take an action? Is there sufficient urgency or pain for them to act?
  • Are at least 1 in 1000 people looking for a solution to this problem right now?  You need to ensure that the market is large enough to make some real money.
  • Does your prospect have few, to no options?  (less competition)
  • Is your prospect proactively looking for solutions?  These people are much more likely to become buyers.  Search engine marketing is good for determining this.

Successfully targeting a niche market is easy, if the answers to all these questions are, Yes.

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