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New Niches: Finding a New LUCRATIVE Niche

* See the end of the article for links to the Resources mentioned. *

You can't go far in Internet marketing without bumping into the word "niche", because finding a great niche is the Holy Grail of online marketing. While new niches are easy to discover, finding a niche which will be highly profitable, AND which is right for you, is a different matter. It's the profitable niches that you're bubbling with enthusiasm over that you need to search for. In this article we'll look at discovering new niches, and how you can investigate to see whether a new niche will repay your investment of time, energy and money.

Your Niche-Hunting Goal
When you start niche-hunting, it's tempting to look at popular topics of interest, like dieting, sex, time management, and money. You can certainly develop a sub-niche in these areas, the challenge however is that these areas are packed with competition.

Your aim is to find a topic area or sub-niche which has qualified prospects who aren't already being served with the products and information that they need. This niche can be small. You don't need millions or hundreds of thousands of customers. A few thousand customers who are willing to spend $50 a year with you are all you need.

What are "qualified" prospects? These are people who have money to spend on the kinds of products you'll offer. They've spent money before in this area, and they'll do so again. You also want to be able to reach these people online. For example, dog food and dog products are a huge niche, with dog owners willing and able to spend big money on their pets. Dog owners also look for information and buy online.

How do You Find a Niche?
The easiest way to a find a profitable niche which is right for you is to find the topic in the areas of your own personal interest, or a hobby or interest of your friends. If you're interested in a topic, you already have background knowledge in it, which saves research time. What do you spend a lot of money on? What do your friends spend money on?

Perhaps you're an expert cook, and at last week's dinner party a friend mentioned that he was laying down the beginnings of a wine cellar. Foods and wine is a popular and developing topic area. Let's say you've already thought of a niche which might be profitable: organic wine. Organic food and wine is a popular and growing niche on which people are willing to spend money, and they search for information and products online, too. Visit the site of Wine News Magazine at http://www.thewinenews.com/index.html to research this niche. With a little investigation, you'll be able to find sub-niches of prospects if the organic wine field intrigues you.

Of course, you can use the "Is there a magazine for it?" technique to find other new niches.

Ways to Find a New Niche
Let's look great ways to find a new niche:

• It's been said that whenever more than five people are interested in a topic, a magazine is created for it. Visit your local bookstore and browse the magazines. You can also browse online: Amazon.com sells magazine subscriptions. There are thousands of magazines, for every topic of interest;
• Look in the classifieds ads sections in newspapers and magazines, for ads which advertise Web sites and newsletters - you'll find many sub-niches;
• Visit eBay and explore eBay's thousands of categories;
• Visit Amazon.com and explore the book categories - look for bestsellers. Often a bestselling book will suggest an unexploited niche.

Will Your Niche be Profitable?
You can discover whether your niche will be profitable by doing some research.

Research Online
Are there Web sites, newsgroups (discussion groups) and online mailing lists devoted to your niche? If there are, join some of the groups and eavesdrop on the conversations. Ask questions.

Use the Overture and Google Suggest tools (see Resources) to find out how many searches are conducted on your niche's topic.

Use Google AdWords
The Google AdWords research method is very effective, because not only do you find out whether your niche is popular, you'll also find out how much advertisers are bidding for keywords in your niche's Pay Per Click (PPC) campaigns.

Create a Web page about your niche, with a "Signup for our newsletter" button on it.

Then sign up for a Google AdWords account and write a couple of ads for your Newsletter Signup page. If you use the ads effectively, not only can you discover how popular and profitable the niche will be, but you can also discover what your new audience most needs to know.

Get Started!
Now you know how to discover new niches, take action.

Resources
· Who's searching for your niche? Overture's keyword selection tool helps you to find out: http://inventory.overture.com/d/searchinventory/suggestion/

· Google Suggest: http://www.google.com/webhp?complete=1&hl=en

· Google AdWords: https://adwords.google.com/select

Keywords: profitable niches finding a new niche