Should You Worry About Competition Online?
Don’t shy away from a niche you’d like to get involved in because you see the competition is plentiful. All that it means is that you have a good idea and it’s a source of proven profit according to how many others want to be in that niche.
Competition is a good thing because it can also prove the track record of a niche. What you want to do is bring something to the table within that niche that your competition is not offering. Create a “niche” inside the niche, or sub-niche. Narrowing down your niche and getting ahead of the competition will help you stand out and make plenty of profits. Any product that is specifically focused will always beat out the competition.
For example, if you want to work in weight loss niche, you’ll discover that the weight loss niche is saturated with websites, books, personal trainers, and other products dedicated to the topic. It’s easy for consumers to be blind when it comes to anything new in the weight loss niche because of that saturation. So, take the topic of weight loss and narrow it down to only one small aspect of the weight loss topic. You could narrow it down by focusing only on organic weight loss products or you could also narrow it down by targeting only women who’ve given birth and now want to lose weight and get back to pre-pregnancy shape.
The trick is to take an old topic and give it a fresh twist. Think of all the magazine headlines that you read. You never see a new topic — just a fresh twist on what is already been around forever.
This is the part where doing your homework pays off. Once you have selected the niche that interests you, research all the competition on that niche. Get on the email list; buy their product; check out their funnel. What are they offering? What audience are they targeting? Which audience is being left out? How can you take that niche and make it more valuable to the consumer?
One way to discover what people are looking for in a niche is by doing keyword research. You can find free keyword tools online and go through the keywords that your audience uses when searching for information about the topic. That may help give you ideas on how to narrow your focus for your niche.
You can reference your Keyword Research post here.
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