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If you haven't heard the word 'niche' being batted around
by Internet Marketers then you haven't been listening.
Finding a niche has become the antidote to competing in
overly saturated online markets.
What is a niche?
According to Merriam-Webster's Online Dictionary a niche is
described as "a place, employment, status, or activity for
which a person or thing is best fitted... a specialized
market".
Have you noticed that despite the closing of many
businesses in these harsh economic times, the local hobby
train store is still around? That the 'hole-in-the-wall'
eatery is thriving? Or that trends such as
scrap-booking can start with a bang and still close within a year when four
similar businesses start up in the same area?
The online business world reflects the same trends as
experienced in the offline world - often with faster
turnover and startup rates. Those who promote a product or
site that targets a small, select audience can tap into a
market that is otherwise not being served. Despite the
limitations of the client base, the targeted nature of the
business creates a devoted and active market - the aim of
any business.
HOW DO I FIND A NICHE?
Finding a niche requires diligent research. Whether you
have access to software that harvests and sorts information
or you take a manual approach you must first start with
ideas.
With a pen and paper (or computer, if that's more
comfortable) brainstorm a list of businesses, products and
industries. Create a list of keywords and phrases you think
would be used by individuals looking for these items online.
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