Niche or niche marketing is a term that is frequently used within the internet marketing community and if you haven’t noticed it, then you’re probably not paying attention. You might say, finding a niche is somewhat the solution for competing in many of the over-saturated markets.

Never taking the time to understand what a niche is?

According to many online sources a niche is basically defined as an area, specific work, position, or action for which an individual or something else is best suited for… a focused market.

Have you noticed in the offline world, despite all the businesses that are closing their doors during these tough economic times, many of the local eateries have managed to survive? Salons, pet services, and even car washing outlets are rebounding. On the other hand, trendy specialty shops which started out with a bang end up closing within the first year after similar stores set up shop in their area.

It’s simply part of doing business and the online business arena reveals much of the same trends that are experienced in the offline world. However, most online startups tend to fail at excessive rates and much faster.

Fortunately, those individuals who concentrate on promoting a product, service, or website that focuses on a small, select group, can eventually take root within a marketplace that is not being catered to. Even though some limitations might exist with the customer base, the focus and attention of the business itself will develop a dedicated and energetic market, something that is required of all business.

Don’t know how to find a niche?

Finding a niche is never as easy as many online marketers will have you believe, especially a profitable niche. Finding a niche takes a little effort in research. You first begin by brainstorming and coming up with ideas.

Start by making a list of specific businesses, services, and products available. Next, start generating a list of specific keywords and phrases that individuals would use when searching for any of the particular products or services online.

Most of the popular keyword tools online are paid for software programs. If it’s not within your budget at this time, finding appropriate keywords and phrases that will work for you can still be achieved manually. It may take a little effort in research, but the outcome will definitely be worth your time.

Tip: When using your favorite search engine and typing in your search term, have you noticed the keyword suggestions that pop up? Those are popular search terms that other people have used to search for the same or relevant information. Write those suggestions down as they can be useful in determining potential keywords, phrases, and a possible niche.

Besides the search engines, many popular sites such as Amazon, eBay, Pinterest, Walmart, Target, and even YouTube all offer the same suggestions within their individual search. Once again, this is valuable information that can not only be used for possible keywords, but also for determining what people are searching for from individual marketplaces.

Always choosing the easiest keywords?

It’s a known fact; many online marketers are simply lazy. This is especially true when it comes to doing research. Many people who start up online and look for keywords often choose the first results they find or target the terms that have the highest amount of searches each month. It might sound logical, but it’s definitely not the best approach, especially if you want to make money. Choosing to use broad or popular keywords will only pit you against thousands of competing websites and businesses.

Tip: Take a little time and focus on questions or phrases within a niche. Things like – how to, how will, how can, how does, what can, where can, the best way to, the fastest way to, how to quickly. Not only will you discover some excellent keyword phrases, but also some potential niche markets that you can promote in.

Try performing individual searches focusing on specific questions. What type of pages are showing in the search? Do they offer any type of answers or possible solutions to existing problems? How are the sites generating revenue? Do you notice any opportunities where you could provide products or services within these marketplaces?

Finding a niche can be a huge opportunity and provide you with a successful online business. Just remember, research the market, the niche opportunity, keywords, phrases and questions, and what products or services might be valuable to your particular group.

Tip: Pay attention to your targeted audience and make note of the concerns within that market.