How to choose the Right Niche Market
What is a niche market?
A niche market is a distinct segment of a market on which a specific product is focused. It is basically the audience in which the products or the services of a business can be successfully sold. A niche market takes into consideration the specific needs, wants and desires of a well-defined segment of the population and provides them with the products to satisfy them (What is a niche?).
So niche marketing is basically a very concentrated type of marketing that targets a part of the market that is usually not well served. Large companies may avoid targeting a small niche because they believe it’s a waste of time and on the other hand small companies may fail to recognize them or don’t understand how to approach them. But the lack of competition combined with the deep understanding and knowledge of your niche can lead to success and even perhaps the chance to dominate that segment of the market. It can also offer stability through the strong relationships that can be created with your customers over time. So, a niche market can be profitable and there is room for growth and attract new customers as you improve your skills.
How to find the right niche?
Choosing the right niche can be very difficult sometimes but it really shouldn’t. Questions like what if my niche is too competitive or how do i know if there is a market for that niche can be very discouraging for some people to the point they give up before they even start. But finding your niche is the most important before you start your online adventure.
The first thing you need to do is to find out what kind of things you like to talk about. What is your passion? Everything can be a niche and every niche can be successful. Remember there are almost 3 billion people online so there are definitely some people out there with the same interests as you. Your niche should be something that excites you and you enjoy talking about. Choose something that reflects your abilities. Remember you will interact with your readers that share the same passion as you regularly so choose something you feel comfortable talking about.
Don’t choose something because it looks promising after a keyword search. In the process, you will get bored and you will quit. If you are genuinely interested in your topic it will be easier for you to come up with content ideas that others would like to share. Before you make your decision about your niche try to write a couple of blog posts first and see if you feel comfortable. Did you like it? Do you enjoy the process? Would you like to spend time writing again, doing research for a new post, editing it and discussing it? If the answer is yes you found what you were looking for.
Equally important is to choose a small (narrow) topic instead of a broad one where you ‘ll probably end up writing medium quality posts. A broad niche requires a lot more content and a lot more competition.
Last but not least, think how you are going earn money from it. Are you gonna sell affiliate products or you will provide services? Are there any products you can sell through your site and can you the needs of your audience. Think ahead of time how you are going to make money.
If you have any questions or an experience you want to share with us leave a comment below.
Hi, very good and useful information. Niche finding was for me the hardest part, both when it came to choosing and then to actually getting started with it. Now I just have to keep finding ways to keep the job up 😉
I also like your site, it’s nice and clean with a motivational quote at the top, great touch!
Thank you Cat. Finding your niche can be pretty difficult but once you figure it out working on it can be really fun and enjoyable.
Love the Drucker quote Nikos.
It’s amazing how many niches there are out there to choose from. I think that’s what can make it so difficult. You’re spot on recommending someone chooses something that they are passionate about.
Thank you for noticing the Drucker quote and for your comment. Without passion you really can’t go that far.
You are right, finding my Niche really turned me off. I had no idea what to decide on. You have done an excellent job with this post.
Thank you Luna for your beautiful comment.