When Is A Niche To Small?
By Paul Forcey, Sat Dec 10th
Find a niche; pick a niche, niche markets will make you rich It seemed that every e-book I read and every one I spoke to wastelling me to find a niche market or I would never succeed. What is a Niche?
a.A situation or activity specially suited to a person'sinterests, abilities, or nature: found her niche in life. b.Aspecial area of demand for a product or service: “One niche thatis approaching mass-market proportions is held by regionalmagazines” (Brad Edmondson). A special area of demand soundseasy doesn’t it? Well the real secret is finding a niche thatisn’t already served by a million websites. In amongst all the reading I was doing on niches I read a forumpost from a knowledgeable guy, this man is an Internet marketerand from his previous posts he seemed to know what he was doing. His post was basically saying that unless the “niche” received18,000 searches a month there wasn’t enough of a market for it,I took his word as gospel and discarded any ideas I had thatreceived less than 10,000 searches a month (ok he said 18k but Ithought that was extreme). I was just about ready to give up on ever finding the “niche”that would make me a penny. Then I was looking for some help using a piece of software and Ibought an e-book. It was excellent, helpful and thorough, wellworth
the £9.99 I paid. I got talking to the site owner and hetold me that his niche received only 50-150 searches a month onoverture. In total from the main search engines his site received 50-100visitors every month, doesn’t sound like much does it? Out of those 50-100 visitors he had a 50% buy rate! Yes 50% ofpeople who visit his site buy from him, so that’s 25 sales amonth. At £9.99 each it isn’t worth it I hear you say, He has beenselling the same e-book since 2003, he hasn’t touched his sitesince 2004 and is still earning £250 every month come rain orshine! I thought £250 a month was nice extra money, pay for holidaysand Christmas presents. Then he admitted to me that he has 6e-books, in 6 different niches (no he wouldn’t tell me what theothers are) each earning him a minimum of £250 a month 6X£250=£1500 He spends an average of 2-3 hours a week checking the sites arestill there and no competition has sprung up. So what am I trying to tell you? Listen when people tell youstuff, but always keep an eye out for the exception to the rule. That exception could earn you £1500 a month or more. New VentureSuccess Is there to help you when you are starting out inyour new business. With information on everything from eBay tolinking strategies About the author:Paul has been online since 1999 and working full time onlinesince 2004. |
