Is it Worth it to Go Into a “Saturated” Marketplace?
By Matt Bacak
There are tons of niches out there making a ton of money. Often times they are the same ones that year after year continue to do well. And yes, some may choose not to enter into these markets because they feel the market is too saturated; how could they possibly do well? But I always say, if money is being made there then people are still buying so go after that market!
One of my students asked me; “How do you locate a good niche that isn’t crowded but research shows there’s still a lot of interest? Do you use software or do you just brainstorm and then Google?” My answer continues to be that if there is a crowd in the market that means there’s a lot of money in the market. And I wouldn’t let a crowd bother you. Let me give you an example. Have you ever got a brand new car? Now you’re driving the car down the road and you notice everybody’s got the same exact car. The same goes for if you just got a brand new shirt. You go to school, you’re wearing this brand new shirt, and you notice everybody else has this same brand new shirt. Do you see what I’m saying? The exact same thing would happen. Sometimes you think it’s more crowded than it actually is because you’re more aware. So, that is something to think about from that perspective.
Now, the other thing to think about is that sometimes all it takes inside of a niche is for you to just to be one step above your competition. Just do a little more than them. That little inch can return tenfold simply because the market has room for something different. Thinking a little bit outside of the norm of your market can make you a lot of money. The way to do this is to see what your competition is doing and then re-evaluate the situation. Re-evaluate what you could do a bit better or tweak a bit to gain an advantage in your marketplace. You need to look at the big picture and say to yourself “there’s a lot of money in this market, but what marketing methods are they not using that I can actually use?” Take advantage of what’s in front of you but simply tweak it.
When I look at my students who are making the most money online, I notice that they’re really in multiple different places. A lot of them are involved in markets that have to do with sex, God, or money. These are pretty much the areas they’re in. I’ll give you an example. My brother, for example, he’s got Conversations with Millionaires. And that’s a really good market. But he was able to penetrate that market because he thought outside of the norm in term of how he marketed to this niche.
Now, a lot of the people doing well think from different perspectives. So if we’re looking at trying to get into a niche, let me give you some ideas. You want to go where the money’s at. So you want to really identify the market. A couple of rules of thumb… If you can go to a bookstore and you can find a magazine on the topic, then there’s probably a big enough demand for things inside that market. That’s why the magazines are able to stay there.
And another thing you could do is you can go to sites like Dummies.com, especially for information. They don’t pay their writers or publish books unless they know somebody already wants to buy it. So to see hungry markets, just look at what they’re doing. Now if you go to the site Dummies.com, in the upper right-hand corner there will be a search bar. If you search the word “dummies,” then what’ll happen is you’ll find that there are about 1,300 books or more? It lists all of the books on dummies and it’ll give you a general idea as to what people are interested in. They created books on those topics that people are searching for information on, which therefore means there’s probably a good market inside that particular niche.
My most successful students went into crowded markets, but you know what? They’re doing extremely well because they’re using internet marketing tactics that are a little bit ahead of their competition. They are thinking strategically different than those already in their market. Sometimes you’ve just got to stand in front of the money and let it come to you. The markets they’ve often done well in and these are in no particular order… Real estate investing, weight loss, network marketing, wealth building and internet marketing are really the main ones. Those would be in the top five markets where a lot of my students are making big money in.
If you really think about it, at the end of the day, one sentence says it all: You can never be too rich, too thin, or too beautiful.
What are your thoughts? Chime in in the comments below.