In This Article:
- Definition of a niche.
- Reasons for choosing a niche.
- How to choose a niche.
- Categories of niches
- Best niches according to me.
Getting Familiar With Niche Marketing:
Niche marketing is fundamental for many enterprises. Whether you want to start an online business(affiliate marketing, blogging for money, paid articles etc) or an offline business( startups are the main examples that come to mind, even though they can be online too) you will need to choose a niche to aid your marketing. Niche marketing is the first step towards the success of your enterprise. Also, choosing a niche increases the fun factor of whatever you start as a business. This is because niche selection avoids headaches and unwanted surprises. So, what exactly is a niche?
A niche is a specialized segment of the market for a particular kind of product or service. In other words, a niche is the area of the market in which you concentrate your business efforts. Hence, niche marketing is concentrating all marketing efforts on a small but specific and well defined segment of the population. Niches do not ‘exist’ but are ‘created’ by identifying needs, wants, and requirements that are being addressed poorly or not at all by other firms, and developing and delivering goods or services to satisfy them. As a strategy, niche marketing is aimed at being a big fish in a small pond instead of being a small fish in a big pond. Also called micromarketing(courtesy of business dictionary).
For example, chess is a niche. Publishing books for chess players and chess lovers happens on a regular basis. Products such as books on how to play chess, chess boards, stopwatches designed for chess. Choosing a niche has some considerable advantages. Lets look at that in more details.
Do You Need Niche Marketing Or Not?
Specializing in a niche rather than going for a less specific approach has a couple of advantages. These advantage pertain to a better management of the resources that come into play and contribute to produce a more desirable outcome. We outline the 4 main advantages below:
- Choosing a niche eases content creation. To illustrate this, lets use an example. Producing books on how to play chess only takes less time than to produce books on how to play chess and books on how to cook and how to play basketball altogether.
- Specializing in one and only one niche reduces the expenses. We take another example to illustrate this. If you were to produce 100 books for basketball lovers, chess lovers and football lovers, each. That would be 300 books. Provided producing each book demands a fixed amount of money, you would have to spend thrice as much as you would if you would have decided to go for the chess books only.
- Dwelling in one niche provides a more engaged audience. If you write a blog post that answers to questions like: how many MVP titles does LeBron James have? What is the best opening move in chess? How many tomatoes per day should I eat? As a LeBron James fan, reading the part on him and then suddenly falling into the part about the tomato can be upsetting. There is no relation between the two topics. That would upset me too.
- Remaining within your niche improves your chances of being seen. If you write blog posts, for example, and you write on multiple topics. You will be competing with huge television channels which also happen to have websites. Useless to say who will win this battle.
As conclusion, we can say that niche marketing speaks to your marketing efforts, content creation efforts and visibility. Other parts contributing to the functioning of your activity will benefit from the concentration on a single niche. Hence, the advantages listed above are not the only ones, but they are the main ones.
Choosing A Niche For Yourself:
Choosing a niche for your activity designs what you are going to do and be. But, choosing a niche can be tricky. Sometimes, you might get a nice feeling on the spot about sometime you actually love doing or reading on. Then, within 2 weeks of activity, you realized what a huge mistake you made. This causes the process to start all over again. That still does not guarantee you will get it right the second time.
Even though there is not ‘right’ niche for anyone of us, there exist some niches in which you either feel comfortable or you are willing to learn more and more about. The key here is choosing a niche that you will still be interested in on the long run. For, you do need to aim to be an authority in that niche.
So what do you do to choose a niche then? Do you just sit down and think about it or do go for trial and error? You need to ask yourself the following questions:
- What are the things you are most interested in? This one is vital. You do not want to find yourself doing something that gets more and more bitter as you do it. Instead, you need to find something that will not only entice you, but that you can also be proud of being an expert in.
- Do people spend money in this? You do not want to launch your business in an area with a low customer density. This can only lead to frustration. What you can do to effectively see if people spend money on that is: check on the internet if you can find any ads on your topic. Also, you can do a search on websites like amazon to see if there are books on that topic. You can also look for physical products. The more all those are present, the more fitting that niche becomes for you and your business.
- Are there products to promote? While you were doing the search to determine if people actually buy stuff in your domain, you may have found a whole lot of books and furniture that relate directly to your niche. If you did not, go do a little search on the internet.
- Do you see yourself writing 25, 50 or 100 posts about this topic? If you own a blog, you will have to write a lot about this topic of yours. On the other hand, if you do not own a blog, you may still find yourself writing reports or predictions based on what you know. If you do not see yourself writing for long about this topic, then you have to drop it and start the process all over again.
Choosing your niche is a huge step. You can even get yourself a drink to congratulate yourself. But that is not all there is to it. You will need to choose a niche within your niche. You will need to levels deep(category –> niche –> sub-niche). Now, I can hear you asking me why you need to go that deep.
Once more, I will illustrate my point with an example. Lets say you write on physics. The field of physics is way too broad and you just stick to general physics, you will be competing with National Geographic channel, to name just one. Can you keep up with them? You may want to specialize in electronics for example. This way, it easier for you to be on the front lines.
To Make Your Job Easier:
- Hobbies: For example, fishing, gardening and chess.
- Passions: Examples are, fitness, causes and education.
- Problems: Obesity, depression and home repairs. To name just that.
- Trends: You may think of healthy living, organic eating, homeschooling.
You may want to decide what category fits you more and choose a niche within that category. Moreover, knowing the category in which your niche falls gives you a hint on how to approach it.
So there you have it entrepreneurs. You now understand what a niche is and how it plays a pivotal part in the launching of your business. Another take away from this is the fact that launching your business can be made easier as you get more and more specific on what you offer. Don’t forget to subscribe to our mail box for more updates and tips.