The Importance of Choosing The Right Market

The title could also be as - Choosing the correct niche for your blog. I prefered using market since many could not understand what is niche. Well, "niche" refers to the base topic on which you blog.  If you desire to make money as a blogger, the road is a lot easier if you choose a solid market to begin with. A few guidelines would be:

 


  1. As a blogger in your prospective market, can you help your reader solve real problems that exist in the real world?
  2. Does your prospective market have certain goals that would give them pleasure? Or perhaps something they fear that would give them great pain?
  3. Does your market have any kind of traits that would just make them not willing to spend any money?
With those guidelines, you can begin to see why certain types of blogs are going to have a much tougher time making any money. If your blog is essentially a news site, for example, what problem would you be solving? What are the goals or fears of people on a news blog? And surely you’re going to have a tough time getting anybody to pay you since people are USED to getting their news for free. A celebrity blog would be in the same boat. It is just pure entertainment. Entertainment blogs are tricky to monetize and that is because the audience is just there for fun. As a collective audience, they have no common problems, goals or frustrations. Plus, people expect online entertainment to be free.
The best markets are those where there is a real-life problem to solve, there is a goal which they feel strongly about, or there is a nagging fear which they are afraid of.
It isn’t a coincidence that some of the bloggers who make good money talk about how to make money blogging. Ever thought about why that is? :) It is simply because there is a big, overriding GOAL to the market. In other words, MORE MONEY. And who isn’t motivated by that? However, don’t go into “make money” blogging just because you think it would work. You have to have actually done it before you can talk about it with authority.
The same philosophy works in a BUNCH of different markets:
  • Musicians have the common goal of being better players. They want to perfect their craft, gain respect, pick up chicks because they’re so good. They’re a potentially good market.
  • Business owners have the goal of making more money and retiring early. Easy market.
  • Dating is a good market because everybody wants to have a partner and men want to get laid. I mean, face it. :)
Markets where there is competition among members of the audience are good, too. For example, I’ve seen popular sites that are all about taking cars and making them look better. drive faster, etc. Modifications, essentially. Great market because you have a rabid audience of people who are out to impress their friends and have a generally more bad-ass car than everybody around them. And they’ll PAY for that.
(I once knew a dude who paid more for the rims on his car than he did for the car itself. I was floored).
So, market selection is very important. When we talk about making good money blogging, the entire thing is going to be much harder if you’re not talking to a market which has goals or pains. It is much better to think about this before you start blogging for money. If you’re already blogging, then take stock of your market and see if it adds up. If it doesn’t, you might want to adjust to better align with something having market potential.
Either that or just blog as a hobby. :)

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