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Hot Niche Trends For Future IM
Five Standard Hot Niches
Since the Great Recession of 2008, knowing what hot niches to market has become especially important to generate income. Some people may suggest that the entire marketing landscape has been turned upside down and that old, popular niches are no longer the bestsellers they once were. There is a bit of truth to this as it becomes harder to sell in a climate of economic fear; however, once you take a look at the five standard, hot niches closely, you will find that they are still selling, although in different manners.
What Are They?
Health & Beauty – This is, by far, the most popular niche out there. The demographic has been traditionally female, but more and more men are increasing their purchases in this area. Even when gasoline is $4/gallon, people still make purchases for small indulgences like lipstick, indicating that this is still a powerful niche to market.
Parenting & Children's Needs – What people won't spend on themselves, they will find a way to spend on their children. It's clear that some households are making sacrifices in this area, but they are making up for it by buying items that provide in comfort and familiarity what they lack in luxury.
Pets – You would think that with all the stories of dogs being returned to shelters due to the recession that the pet niche would be dying. On the contrary, the pet niche is still a hot niche, although the types of pets being housed and their needs may be different during a recession.
Automotive – People need transportation to get to their jobs. They may have trouble buying new cars in a recession, but then the market shifts to repairs and to proper maintenance of old cars. In a modern society, transportation, and especially automotive transportation, is a must.
Food – When all else fails in a person's life, food becomes a major source of comfort. It is also a relatively cheap comfort and can be justified on the grounds that it provides nutrition, a life necessity. People may switch from buying brand names to more generic foods, but that just opens a market for your offerings to take off.
Along with these five major niches, which we will discuss more in depth, there will be other niches arising and trending due to events affecting consumer-buying behavior. Understanding the shifting needs of your customers is key to identifying future niche trends in IM.
Incentives Producing Demand
Some demand is a natural byproduct of the law of supply and demand. Other demand in the market has been created by Federal laws and regulations. As the national bailout continues to gather steam, there are numerous programs that will create demand where there previously was none. It's up to the savvy Internet marketer to identify these niches and to explore the different ways to reap profits from this new area of demand.
The Obama administration has given some energy incentives for customers who are thinking of buying some types of home products that will reduce energy demands. If you take a look at any sales circular for local businesses, you will see that they are promoting the installation of tankless hot water systems, insulation, air conditioning, or heat pump systems. In some cases, the Federal stimulus package can return 30% of the purchase price in tax incentives. This can be a powerful motivator for people who are thinking of installing a new system to do it now. Finding out what incentives can be marketed online, whether as a product or as a referral commission, a savvy Internet marketer can increase the potential for income while meeting market demand.
Sell Information On Incentives
The infoproduct market is very well-suited to these new Federal and state incentives. Typically, Federal and state programs are a bureaucratic mess and are hard to understand. If you know how to navigate these systems and make it clear how the average person can benefit from state and Federal programs, you have the makings of a great ebook or report that you can sell online.
The types of programs that are suited for this are the “cash for clunkers” program, the foreclosure modification loan programs, and the energy programs. All of these hit a wide range of people who may want to know who to contact, how to be eligible, and what types of benefits they might derive from the programs. You don't have to actually walk a person through the programs; you just have to point them in the right direction.
If you can include a number of different programs that someone might benefit from, you can consolidate them into an ebook and sell it for a small fee. Having all of that information in one place with URL links that are easy to spot and step-by-step instructions will help people and be well worth the small investment they paid for your ebook.
Technology has a very quick life cycle; as a result, niches have to be identified quickly and marketed soon. As trends in technology take off, that's the best time to market them as a hot niche, although they tend to peak fairly quickly. If your audience is technical and tend to be first adopters of technology, it can be a great niche to market to online. Let's take a look at a few that still have some staying power.
Improvements in cell phones are major technological news and are often high-demand markets. With Internet connectivity becoming a more common feature on cell phones, the likelihood that these devices might encroach on the personal computer marketplace is high. Whether you want to talk about digital, cellular, or smart phones, they are a product with a large demand and loyal customers.
With more opportunity to share photos and short movies online through venues like YouTube, the sale of digital cameras is becoming more popular. While many cell phones can take great pictures, they are not high-definition pictures. High-definition cameras with more features and fun options to edit photos and to post online are going to increase in the marketplace.
Solar hot water heaters that are backed up by a conventional gas connection provide a mix of old and new technologies that are comforting to people incorporating new technology into their lives. The same is true for hybrid cars that can be electric and gas, providing some assurances that the car will function, one way or another. As people begin adopting more conscious energy management, they may be reluctant to be early adopters unless they can have training wheels, of sorts.
With incentives, mass media attention, and energy concerns, green technology is a rich niche that will only increase in demand in the future. It may be a while before everyone wants to put solar cells on their roofs, but other types of easy modifications, like water conservation devices and recycled products, are pain-free to implement.
Internet Marketing Trends In Advertising
Product niches aren't the only way to create income online. Advertising is one of the best ways to create income from Internet marketing activities, and there are some major trends that are shifting how this is done online. In the past, a Google pay-per-click campaign might have been the only way to advertise and to make money online as a publisher, using keywords. Now, there are quite a few more options that the savvy Internet marketer should use to promote offerings and to make advertising income too.
Different Types of Affiliate Banks
There are new affiliate banks that cater to different markets. Joining just one can limit the exposure to markets, as some offerings may be exclusive to other affiliate banks. Try to maintain several affiliate bank accounts and look for the hot niches in each to promote.
One type of up-and-coming format is the cost-per-action affiliate bank. These are known as CPA programs. They pay out not solely based on a sale, but on some action performed by a visitor to a site. It can encompass activities like polls, site registrations, subscriptions, puzzles, and sales. The payouts are usually higher than a pay-per-click campaign, and the publisher may not even have to make a sale to collect. At a time when people may be more willing to part with information rather than cash, cost-per-action banks can generate more income when other programs fail.
Advertisers like the CPA programs because they are paying for leads that they can later market to, unlike a pay-per-click campaign where the visitor remains somewhat anonymous. They have a results-based campaign that helps them to determine just how productive their advertising dollars are in comparison to other types of programs or products. Right now, there may be fewer CPA affiliate banks than the other type, but this is changing rapidly. More and more advertisers are moving into the CPA model, and Internet marketers should be ready to cultivate these new networks to make sure that they are ahead of the trend in years to come.
More Social Networking Exposure
One of the biggest changes that has occurred in recent years and is set to literally explode is the use of social networks for Internet marketing. Sites like Facebook.com and Twitter.com are a great way to generate contact leads and then use them to market your affiliate programs and other online ventures. The problem comes around when traditional marketers get onto these social networking sites and start to use conventional techniques to generate sales, like spamming people. This will automatically get them banned. Instead, new techniques for marketing have to be implemented, and value is the number 1 driving force to a sale.
Every day, new ways of making income appear, and savvy Internet marketers have to be on the ball to recognize a sales opportunity. Having a social networking profile on the main sites already is a good way to get a foot in the door to a trend that is only set to increase over time. In fact, these networks are so powerful and vast that they could even give the Google search engine a run for its money.
Imagine that instead of using keyword searches for your next purchase, you hop online and make an inquiry to all of your friends on Facebook. Immediately, you get a response from a number of them telling you what and who they recommend for your needs. This provides a level of trust that is non-existent when you type in a search into the Google search engine, and it is why it will be the way that people will buy in the future. Friends trust friends and not machines. It's not too far-fetched to expect that these social networks will eventually become their own search engines with greatly improved ways to buy online with no spamming and/or solicitation. If you are not online in an authentic manner where someone can recognize you as a live human being by the time this revolution takes place, you'll be left far behind in the Internet marketing race. Get online to these sites and get a profile.
It's important to view large social trends that are going to impact purchasing behavior in the future, as well as to understand hot niches for Internet marketing. That is just part of the equation to become a successful Internet marketer, however. In addition to being able to identify and to market to growing trends before they saturate the marketplace or get too high in competition, there is the shifting sand of how to market online that changes too. If you were to identify hot niches and continue to merely use pay-per-click campaigns, you might make some money, but you will be ignoring larger and larger markets that are emerging from social media sites and cost-per-action programs. Staying at the top of your game when marketing a hot niche means understanding that techniques for advertising are constantly changing online too.
Just as new advertising techniques increase over time, more markets appear online from emerging countries that are expanding their Internet connectivity. It may be that your hottest niche works best when it is marketed to people in the UK, versus the US or maybe even China. Innovative marketing techniques will help to increase the returns on any niche that you market to and will literally explode the highest potential of very hot niches.
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