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Finding your "Niche" market for your home based business


When you consider starting a work at home or home based business, you want to make sure you find the right product. What do you want to sell? What are you passionate about? What subject do you have a lot of knowledge or interest in? It is a fact that selling a physical product or an information product online is much easier than selling a service. However, selling a service makes more money with monthly memberships in the long run.

Most marketers agree that these are the main reasons why a customer will want to buy your product:

  • Your product must solve a problem for your customer.
  • Your product should make life easier or more comfortable.
  • Your product must fulfill a want or desire.
  • Your product should be unique in some way.
  • You should be very enthusiastic about your product because it will show in everything you do.

Before you spend all your time working on a website and writing up articles, ebooks, etc. you want to be sure that you can find customers that are going to be interested in what you are selling. It is very important to do some market research.

Search for your product on all the major search engines - how many people are offering the exact same? Read through related blogs, newsgroups, discussion boards, and chat rooms and learn about your target market customer base.

You will want to research keywords with keyword tools such as WEBCEO from webceo.com. You need to discover which keywords are being searched for frequently. WebCeo is free software that allows you to search for a niche and related keywords across a number of the big search engines, not just Google. It also calculates the amount of competition and also makes suggestions whether or not there is still a "gap" in the market for another seller like yourself. It is absolutely no good trying to sell a product where there are no customers, or in a market which has been over-saturated by your competitors.

When researching your niche market, you may also want to use www.Amazon.com and find the current top best sellers. Find out what people are reading about. Use GoogleTrend to investigate the growth of your market over the past year(s). Find other related products that could also be used as "backend sellers related to your product. Could you also sell these so that you offer your customers more of a "one stop shop?

Doing a little poking around your competitors sites isn't a bad idea. This is one way to come up with ideas on what would make your company unique, different or better. Take a look at their traffic rankings and their related links. Go to Alexa.com and analyzing the information displayed there, you can see how many visitors they have each day and how "profitable their company is with regards to visitors.

Only once you have identified your niche market and product or service and have found the extra backend products, should you then start designing and setting up your website.

Remember - your ultimate aim is that you want to provide an excellent service to each and every person that spends their money with you and, more importantly, you want them to continue to be customers in the future.



Author: The Work at Home Wizard @ www.248wealthwizards.com
Step-by-Step Wealth Creation | Helping ordinary people realize their dreams