Niche Marketing Strategies - Finding A Market Niche To Target

One of the toughest niche marketing strategies to master at first is finding a market niche that is the right level of granularity. If you go too broad, you're likely going to be competing against a lot of other advertisers and, consequently, your advertising budget will have to be massive to compensate for that. On the flip side of the coin, if you go too specific on your niche market, you run the risk of excluding too many potential buyers and limiting your possibility of success.

For example, if you're going to go after the weight loss market, and you decide to target a phrase like "weight loss" or "lose weight", you need to be prepared to spend hundreds or even thousands of dollars on advertising before you even make a sale. Why? Because the market is huge and highly competitive and major advertisers will pay upwards of $10 per click for the term "weight loss".

An important note is how generic a term like "weight loss" is. Going after a generic term like this is going to get tons of curiosity clicks...people looking for free information on losing weight but not really looking to buy anything. I'm sure I don't have to tell you that that's not what you want as an Internet marketer, especially if you're doing Pay-Per-Click advertising.

So, how do you go about finding a market niche? Let's say we have a great weight-loss information product that we're looking to sell. We've already established that targeting the market as a whole is a bad idea so let's look deeper. Who really, urgently NEEDS your product in this market? Who would be willing to spend money on it RIGHT now? Perhaps people who need to lose weight quickly for an upcoming event.

For example: Women who want to lose weight before their wedding, or men who want to get in shape for spring break at the beach. You will likely be able to target these niches with phrases like: "lose 20 pounds for wedding" or "lose my gut in 30 days".

You see, those are the types of niche markets were looking for. These are people who will be willing to spend money right now, if you can convince them that your product is the solution to their problem. Obviously, finding the right keywords in these markets is critical to success.

Another important note is to not get too granular here. Deciding to go after something like "how can I lose 18 lbs in time for my wedding in Cancun in June" is not going to rake in a lot of profit. There simply won't be enough people searching for it to make it worthwhile. You need to find the right balance of search volume vs. competition in order to realize maximum profits, and that isn't always easy to do.

Now, some of the more experienced marketers have the system and information down to a science and can quickly do this analysis manually, but they are the exception, not the rule. Most, if not all, successful niche marketers use one or more types of niche finder software to help them with finding a market niche and associated keywords that will be profitable.

If you are just starting out, or experienced but are looking to increase the effectiveness of your campaigns, I highly recommend buying a good niche finder software package and using it to maximize your campaigns and develop better niche marketing strategies.

For an in-depth review of the niche finder software I use to quickly expose lucrative niche markets, go to http://www.squidoo.com/Niche-Finder-Software