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Having a business can be a difficult task. If you now have a brick and mortar operation and are looking to expand to an online presence instead or as well; there are a number of things you must know-not just about the venue through which you plan to sell; but also, about who is your market. Is it different for in person as opposed to online venues? It could very well be. The difference exists in how a customer who finds you through MLM or word of mouth marketing and the customer that finds you online. Since the market online is potentially so much larger due to the fact that people can reach you globally just by seeing your site, you need to specify your market into what is called a Niche.

A niche is a sector of the market that your product or service specifically addresses, and a market that is looking for your specific product or service. So, for example, your business may sell golf products-so your niche would be golfers. Of course, not every business will be able to identify their niche so easily; but in the case of even larger and more general products/services that could be wanted by many different clients and businesses-it is always wise to have a central niche to be able to focus on marketing to.

How to Select a Niche

When it comes to creating the right niche for your online business, you need to follow a certain protocol, if you are to have success by not just marketing to many people; but marketing to the people who will offer you return on your investment i.e. the qualified buyer or site visitor. Here are some tips on effectively choosing a niche for your business:

• Consider Your Products/Services: The first step is to consider what you sell and who buys your product, as well as who might be looking for your product but can’t find it online. Do some serious brainstorming. Run searches online for your services and see to what kinds of sites these searches bring you. This will help you gain a better idea of just who is seeking to buy your product.

• Choose the Right Size Market: Once you have a concept for who will buy your product, you need to make sure this market is not too general or too specific. If you have chosen women as your niche market, this is way too general. If you choose women who love sports and want advertising, chances are you will be marketing to a small group of people. You have to choose a market that won’t be too big so that you won’t be able to compete, but also one that is not so specific that it excludes many potential buyers.

• Research the Niche: Make sure prior to deciding on a specific niche that you know that it is a highly profitable market-otherwise, you will be wasting time marketing for little return. Instead, consult keyword search tools in your niche, and conduct searches on your products to see how many searches are being plugged into google or yahoo for a specific niche term.

I have spent many many hours doing Niche research and have found a few very good ones, a rule of thumb to follow is: Find Something You Love To Do because you will be spending a tremendous amount of time setting it up to make money for you.