Successful Strategies for Finding a Lucrative Niche Market: Part 3

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This is the third and final part of a three-part article. You may want to read Part 1, and Part 1 if you haven’t done so already.

Are you new to internet marketing? If so, at some point you will ask yourself this question, “what do I promote?” Well, I would like to cover an approach contrary to what most gurus’ recommend. How to Find Your Niche

Niche Market and How It Works

For the past couple of days, I have been talking about strategy techniques to help you expand you affiliate business.

Now for those of you who have been selling affiliate products for quite some time, you may want to consider creating your own products to help take you business, and income to the next level.

Before you get to nervous about creating products, I have a few proven techniques to help you dig a little deeper into the needs, and desires of your niche market.

In this post, I will describe two techniques, The Private Investigator, and The Survey Research Approach, by Moe Muise, M.A., a ClickBank vendor, and affiliate.

First, I want to explain why affiliate marketers need to do their own research, and not just rely on the vendor.

Why Affiliate Marketers (Not Just Vendors) Need To Do Market Research

First, think of yourself as being in business, not an affiliate, because as an affiliate, you are in business for yourself.

Think of ways you can reinvest you profits, outsource different task, and finding different ways of understanding you audience – their needs, wants and desires.

At this point you might be thinking, “I’m an affiliate marketer. I don’t have any customers. So, why do I need to understand my niche market?”

While you may not have direct customers, understanding how to attract customers to your merchants’ sales pages is a direct link to you. Getting prospects to click your ad, PPC, banner, and text links requires writing compelling copy-writing to get you visitors to click your links.

So, where do you get your information in order to write compelling sales copy, by researching your niche market?

Research Techniques That Find Gaps in Niche’s To Create Your Own Product

1. The Private Investigator Approach

This approach won’t cost you a dime (unless you put a price on your time), but requires you to break out your “private investigator” hat, magnifying glass, and your coat of gadgets, and go undercover on the web.

Clearly understanding your niche market requires visiting niche forums, problem, and how-to websites where people pour out their souls, and seeking solutions to their problem. Let me explain.

Niche online forums – are places where people gather to talk about a particular topic.

Niche forums are excellent resources to gain insight on the pain people are going through. Many people seek support of like-minded people, in hopes that someone with the same experience can provide a solution to their problem.

How can you find niche forums to research and find those problem points?

1. BoardReader.com is a service you can use to find forums related to your niche (they allow you to search by keyword to target your particular niche); be sure you select forums that are active; otherwise, you may collect outdated data.

2. Once you have found a few active forums, do some forum research to find challenges members or seeking answers too.

“Problem” Websites

General “problem” websites such as Yahoo! Answers, AllExperts.com, and Answers.com exist to help people solve problems.

On these sites the public and post their problems, as well as post solutions to other people’s problems.

The range of problems and solutions on site like these can be large; beware, sites such as these attract spammers, who post question, and then post answers to those questions, linking to products they sell.

Focusing in niche-specific site will deliver a much clearer picture of the problems people are seeking answers too opposed to general sites.

“How-to” Websites

These sites do exactly what you would expect; giving answers “how-to” fix something regardless of the question.

Some of the best well-known websites include HotToDoThings.com, eHow.com, and WikiHow.com, VideoJug.com, and HowCast.com (the latter two focuses on how-to videos).

Sites such as these spend a great deal of money figuring out what solutions people are looking for. You can actually piggyback your research by taking note of the answers they give to questions in your niche market.

If you have the financial stability, paid “how-to” websites are a better source of market intelligence. These sites require you to pay in order to ask an expert a question. Many of these sites will not allow you to search for common questions, but you can pay and expert to tell you what the most common questions are.

2. Survey Research

When doing survey research, you are able to hone in on exactly what problems people are seeking solutions for, but unable to find, if you properly-word your questionnaires, and target the right audience.

In my opinion, survey research is much more powerful because you are seeking solutions to problems that your niche audience. You’ll also be able to use some of your research for ad copy, email titles, and any other way you communicate with your audience. Essentially, what you have done is sought out the answer to the problems you viewers are having, and then let your audience know that you have found a solution to their problem. If done properly, your viewers with buy your product as you as you launch.

As you do your Survey Research, make sure you have the following:

a) Choose a problem facing you niche audience

b) Identify your primary 5-10 keywords

c) Setup a survey page with about 4-6 questions; any more than that

d) Setup a Google pay-per-click advertising campaign

Before you ask the question, “how to I run survey campaign through pay-per-click when I don’t have any money?” You can use Yahoo, Bing, or Miva (Miva is a less expensive).

In addition, emailing surveys to your existing mailing is an excellent way to gain insight as to what solutions your audience is seeking.

e) Begin driving traffic to your PPC Survey campaign page

f) Analyze the data you collected through your survey responses

g) Build your product based on the responses you received through you survey campaign page

h) Advertise your new product using the same keywords used in your questionnaire to drive traffic to your survey campaign page. The logic is since these customers took the time to complete your survey, they are more likely to become customers.

Note: If you have never used Survey Research to gain insight into your audiences needs, get started immediately. You most likely have plenty of people eager to tell you what is on their minds, the problems they have, and what solutions they are looking for.

Following these tips by Moe Muise, M.A., a ClickBank vendor an affiliate with laser-beam focus on serving the needs of your audience is the best way to build a long-term online business.

If you have been struggling to make money online, step away from focusing on products, and turn your concentration to finding an audience to serve.

Learning the needs, desires, challenges, and pains of your audience will reward you in the end for your diligence.

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