There are several seemingly sensible ways, but the focus here are on those proven and rational ways to find profitable niche markets that would make money online. Oftentimes, people congregate in certain ‘popular niches’ without attempting to think outside of the box. The analysis here shall dwell on 5 major and ‘ever-green’ ways that are timeless, proven and dependable. They are sure sources of ‘litmus-test’ indicators of people’s feelings and hence can easily be used to test the market trends by the savvy Internet Marketer and online business person.
The challenge of knowing what ‘online buyers’ want can be daunting. However, taking into consideration the major differences between needs and wants, it becomes easier to analyse when people ‘want’ something. It is profitable and most rational to simply package what they want rather than trying to appeal to their sensibilities about their needs. It is obvious from the foregoing that needs are different from wants. However, for the purpose of concentrating on the subject of this discourse, further detailed discussion on the differences between needs and wants and the implications on how to make money online shall be deferred till some other time.
The five sensible and proven ways to find profitable niche markets are as follow:
- Study: In the course of studying, one becomes more enlightened and hence awareness increases. It has been stated many times that the more enlightened a person is, the more rational his thinking becomes. An educated person – not necessarily in the acquisition of college degrees and diplomas – but in continuous process of mental and intellectual development is sure to see through to the wants of others. Such an inner perception is what distinguishes a successful niche market and profitable ways to make money online from those that are not.Paying Attention To Television Adverts: The TV adverts constitute another great way to determine the trends of tastes and wants of the customer. It is relevant here to state that while some people spend lavishly to buy expensive cars in order to prove and show how wealthy they are, others may simply want to invest the same amount of money in short, medium or long-term investment programs. Since its inception, TV ads have remained arguably the closest mode of advertorial to the ‘person-to-person’ sales transactions.Magazine Stands: This is another exciting source of ‘what is selling’ as well as ‘what will sell’. Depending on individual’s preferences, different callings and vocations have their own promotional magazines. Major retail players in almost every city now have a dedicated stand for different categories of magazines. These magazines are highly subsidized through high-paying adverts from their respective niches. The common logic is that for the products to be or remain in the marketplace, it means they are highly patronised and there is demand for them by the buyers. There must be people looking for them and paying in order to sustain the expensive advertisements. If, furthermore, there is an offline advertisement, then, there must be a corresponding large number of people searching for the same products online.Discussion Forums: Discussion Forums is another place to identify lucrative niche marketing ideas. From the questions being asked and the direction of discussions, it is almost always easy to identify the needs and concerns of the buyers and the people generality of the people. Another great dimension to this source is that, for every question being asked on the Forums, there are five to eight silent persons with the same concerns – each watching out to see if their questions were being addressed. It’s simple human nature. Yahoo! Answers is another great place to identify people’s disposition towards almost anything.Listening To Friends And Family: Very unusual but reliable source of information about a profitable niche is the army of friends and family willing to offer their opinions and advice at the slightest opportunity. Listening to them can give clear direction of human wants from a very sincere but diverse perspective. The major advantage of sourcing information from this group is based on the fact that they would tell the frank truth, (if only) in their own opinion.
Summary and Conclusion: The idea of finding a profitable niche market to make money online can only be successful based on the courage, dedication and determination of the marketer: no outside force can be held responsible for its success or failure. Lastly, among often forgotten but reliable sources of good niche information is the road-side banners on motorways and roads. Others include stadium advertorial promotional displays and newspaper/magazines inserts. The golden truth is that any promotional ad that is consistent over time is definitely making money for the advertisers. Such niche group should be investigated and possibly explored.