Sometimes there's a tendency to evaluate the earning potential of a particular niche by the number of potential customers that are there. Alternatively, entrepreneurs may evaluate the likelihood that a niche will be hot in the future, or possibly offer the potential for higher end products and services.
In either case, and there are other alternatives (like a person's passion for the subject of the niche, or his knowledge of the field, or previous experience in the market, etc.), one must never overlook the importance of focusing on targeting of the audience.
Whether the number of potential prospects is relatively large or small, the best results for your advertising and marketing will always come as you are able to hone in on "the perfect customers" for your products or services.
The Internet audience is global and massive. It is growing every minute, every day and night.
It is impossible to accurately judge the size of any audience as it constantly changes and customers are entering and leaving the ranks of each niche market every day.
I believe that there are profitable sized markets for every information business if the owner understands how to hold and "convert" prospects to finely targeted customers.
But size alone is not the only criterion upon which to judge the customer universe.
Just as important as size, in my mind, is the amount of passion the customers have for the subject. Where there's lots of passion, there will be ready and willing buyers.
Look for market niches where the customers are fanatical, maniacal to a point, where their thirst and hunger for specific products within the niche is nearly unquenchable!
When you find a niche where the customers can't wait to get their hands on every new product that comes out, you will have an audience ripe for your offerings.
I'd rather have 1,000 very passionate customers willing to give me $1,000 annually, than say 10,000 customers paying me $100 each per year . . . or worse yet . . . $10 each a year.
Also, I think it would be much better to be the only business in a very targeted but rather small space, as opposed to one business in 100 that occupied a broader space with 100 times the prospects.
You can "own" a targeted audience if you provide a one-of-a-kind experience or product and it is GOOD!
You do that by being deeply, deeply focused, very narrow in your declared expertise, and with products that others can't provide or copy - specifically those that are created as a result of the person you are. Your knowledge, insight, and life experiences can't be duplicated by anyone!
So my advice to you is to not be too concerned in the beginning about the size of the prospect pool. Instead, focus your attention and effort on discovering your distinct advantages and strengths and how you can add value and interest to your chosen subject.
Remember, the Internet audience is huge and growing by leaps and bounds. Chances are excellent that there will be many others online that want to share your subject knowledge and passion.
You'll be able to reach them if you stay very focused and stick to the things that you're good at.
Most of all, find out exactly what your customers want and give it to them in quality and quantity.
