7 Characteristics of a Hot Niche for Your Online Home Business
When you’re just starting out online with your home based business niche marketing may be…
When you’re just starting out online with your home based business niche marketing may be the magic bullet you need to get off to a fast start. By finding a hot niche and giving them what they’re looking for you can create a very lucrative income stream which can last for a very long time. Here are several traits characteristic of a sizzling niche market to help you recognize one when you see one.
1. This segment of your market is huge in terms of numbers making this feature very important for a couple of reasons. First of all, the obvious explanation is that you’ll have a lot of people to market to making your sales process that much easier. Secondly, if it’s a very large market you won’t have to worry about saturation thereby making this a long term opportunity.
2. If these people are really desperate for your product offer then you’ll have a hungry niche. This hunger is characterized by anxiety coupled with a willingness to pay whatever it takes to get what you have. They want to solve their problem very badly and as quickly as possible.
3. If you have several different solutions to their predicament then you can approach your niche from several different sales angles. For example, if your target suffers from an illness which offers several different forms of treatment for several different symptoms then you have several different ways of targeting people within your segment.
4. If your target possesses numerous hot button issues this will make your conversion process much easier. Hot button topics are words that usually elicit an immediate response from your niche because it stirs some type of emotional reaction within your prospect which usually results in a decision to buy.
5. Vendors, such as Click Bank, usually display the refund rates associated with each product and of course the lower this number is the better it is for you as an affiliate. A low rate of return means when you make the sale you usually keep the commission.
6. Any market that provides the opportunity for you to resell to your customer a second or even a third time is a very attractive situation for any online home business owner. This means once you’ve built your list you have a chance to sell to them again and again making this a very profitable niche.
7. Last, but certainly not least, if your affiliate product provides a high rate of return for each sale or, in other words, gives you a high commission rate then this could also make your niche a very financially rewarding one. Most companies offer rates from 50%-75% on each sale you make however, you should be sure to find out before you sign-up.
If you can find a market segment possessing all of these attributes then your online home business will enjoy the success you’re looking for right from the start.