Product Creation For Niche Markets
How To Find and Create Products To Sell In Niche Markets
by Ryan Ringold
You may have heard marketers talk about "niche" markets. In a nutshell, niche marketing is simply breaking markets into tightly targeted segments of potential customers. The truth of the matter is that almost every market is already a niche market, however, when we talk about niche marketing we narrow in our focus even more.
What do I mean when I say every market is already a niche market?
I mean that all prospects you target are already a smaller sample of a bigger population. Whether you sell to women, men, young, old, business owners, boaters, skaters, engineers, train enthusiasts, etc.... you are selling to a group of people interested in your product or service. However, when we say niche marketing... it tends to refer to lasering in on even a tighter segment of prospects and customers.
For example, if your product usually attracts extreme sport enthusiasts, then a "niche" market to go after might be skateboarders. If your product attracts women, then a niche market may be women that work in a hospital.
How To Find and Create Products
One tool that I use to brainstorm product creating is a free tool from Overture (now YahooSearch). This tool allows you to type in search phrases and keywords to find how often internet users are searching for them.
For example if you type in the word "dog training" this tool will tell you how often people are searching for dog training online. It also suggests more "niche" terms around dog training, like "dog behavior training" or "dog training school". The terms that are more niched may suggest that people searching for these terms are closer to a buying decision.
For example if you go to Google and type in the movie "wedding crashers" then you may be looking for a video clip, the cast members, dvd information, etc. It is very broad and general. However, if you type in "wedding crashers Toms River New Jersey AMC 20 Theater", then you may be looking for showtimes at the AMC 20 in Toms River, NJ. It is much more specific.
Knowing the specific terms that internet users are searching for is a HUGE advantage for several reasons. One advantage is that you can bid on those specific keywords with PPC search engines and the people that click on your ads may be closer to a buying decision.
You can play around with this with the FREE tool at: http://freekeywords.wordtracker.com/
Type in phrases, keywords, thoughts, ideas, your self interests...whatever... and see how often these terms are being searched for. Then you can go to Google.com or Yahoo.com and again type in the same keywords and see if other advertisers are paying for PPC ads.
If advertisers are paying for ads under those keywords, then there is a chance that they are making money with whatever they are selling.
This is a great way to research the market before you decide to sell a product. Use this to brainstorm, research, and develop your products and then go out and make money!
This is one simple way to develope and create products for niche markets.
If you currently have products and use PPC, then I recommend you check out a powerful way to get free pay per click at www.MyGoogleAds4Free.com
