Finding Your Niche Market
More and more people are warming up to the idea of starting a business – either full or part time – selling products over the Internet. In many ways this makes a lot of sense and you really do not need an MBA to get started or to succeed!
There are a great many decisions to be made though but before you start worrying about websites, domain names, content creation or marketing you need to determine just what your ideal niche is and what products you want to sell.
Here are some basic steps for finding your niche market:
1) What is Selling Online?
There are millions of different products available for sale online but obviously some sell far better than others. One of the first things that you should do is spend some time determining just what sells well online.
There are a number of tools you can use to help you do this. Amazon, eBay and Yahoo all offer tools that allow you to search just what their hottest sellers are, or to do a keyword search to determine how well a specific item you have in mind sells.
(It should be noted that Google Product Search, which used to be a good way to perform this kind of research as well has been re-branded as Google Shopping. Google used to list products free but that option is sheduled to be gone in the Fall and only merchants that pay for placement will be listed, something that may taint your research’s effectiveness.)
2) How Interested are You in the Product?
A company like Koehler Home Decor can supply you with hundreds of great products but the one thing they cannot do is sell them on for you. In order for you to have any chance at creating great content to promote your goods you really have to be interested in what you are selling.
Often people base their niche choices on their hobbies rather than their professional interests. In order to be able to sell you will need to find ways to appeal to your target audience. So if you find that – for example – your research has shown that designer purses and bags sell very well but you personally have no interest in fashion, how are you going to be able to interest anyone else?
3) Can You Make Money Off this Product Niche?
So you think you have found your niche. The market is there, you are interested enough in – or knowledgeable enough about – the product to be able to market it successfully but can you make money selling it?
Buying from a wholesaler like Koehler Home Decor will usually net you very low prices but you then have to determine just how big a markup you can add so that you make money without pricing yourself out of the market.
The research you did in the beginning should help you here too as will determining things like the best way to package the items you are selling for shipping is to keep costs down but still make money .
4) Who is Your Target Audience?
Every product niche has a general target audience and figuring out just who is in yours is a great help when it comes to planning everything from your website design to your marketing plans.
For example if you are interested in marketing home decor products homeowners may not be your only target. Furniture stores always need accessories to create appealing store displays and office spaces cannot be empty so human resources managers may be a part of your target audience as well.
Working with Koehler Home Decor to Fill Your Niche Inventory
Our company name may be Koehler Home Decor but we sell a lot more than home decor products. Koehler Home Decor actually stocks wholesale items suitable for dozens of different interests and niches. Here are just a few examples, there are many more niches to choose from:
- Hundreds of different wholesale home decor products that can be used to create specific themes, everything from down home country to shabby chic.
- Unique gift items to offer your customers the chance to pick up a gift for any occasion that will be truly memorable.
- Indulgent wholesale bath and body products that are unlike those you will find in offline stores.
- Great housewares that are as practical as they are pleasing.
- Creative outdoor decor for all seasons.
- Books, wholesale games and toys for kids.