What is the difference between a Niche Market and Niche Marketing, and what are sub-niches? Are you drowned by the these “Jargons” already?
There are many types of definition when it comes to defining Niche. Our friend, Google, defines Niche as “a specialized but profitable segment of the market”, Wikipedia defines it as “a focused, targetable portion (subset) of a market sector”.
To make it easy for people like you and me to understand what a Niche is, it is basically a group of people who shares similar interest, wants, needs and problems.
Let me elaborate. A Niche derives from a market or some call it an industry. Let’s take for an example, Sports. In the Sports market, you can find many niches. There is basketball, baseball, soccer, tennis, etc.
Within these niches, there are layers within layers of sub-niches. Ok, I know it may be confusing, so before I go on with my explanation, let’s take a look at this image:
So, in the soccer niche, there are sub-niches, like soccer betting, soccer merchandise, soccer fan club, etc. There’s a group of people who likes to bet on soccer, and there’s a group of people who loves David Beckham and snatches to buy his merchandise.
Of course, you can drill even further and find layers within layers of sub-niches, but we are not going into that and I believe you already get what a Niche means by now.
Let’s reinforce your knowledge with this video:
What is your purpose for finding a niche?
Well, for most of us here, we find a niche to create an online business and to make money from it. So technically, we are looking for people who shares the same interest, needs, problems and wants, and we want to promote relevant products to this specific group of people.
And this is why we call it Niche Marketing.
Niche Marketing is a very profitable business, and the best part is, it does not require a huge capital to start. Heck, I don’t even think you need $500 to start.
Niche Marketing is mainly online nowadays, which means that you can start a niche marketing business from the comfort of your home.
I know many people who are thriving in the Niche Marketing business, and some are even making more money from home than what a CEO is making in a corporate environment.
I personally have been benefiting from my niche marketing business, and the money I made from it has given me a comfortable financial cushion. If you want to know more about my story, you can check me out here.
The message I want to get across to you is that anyone can be profitable with Niche Marketing, but where can you find the right place to start and how do you find a Niche to start with?
So how do you find a good niche?
Many people have expressed interested in Niche Marketing and many have asked me “How do I get started and which Niche should I choose?”.
Well, for many “gurus” out there, they will advise you to pick a niche that is most profitable. But, I would never suggest that you do that.
You see, picking a niche is like picking a spouse. You must be passionate and be thoroughly in love with each other, you have to spend time and effort to grow the relationship, and you have to maintain the consistency to have a long lasting relationship.
So would you pick a spouse who looks amazing, but you do not have a slightest interest in that person? Or would you pick one whom you are passionately in love with?
The same thing applies when it comes to picking a niche. If you pick a niche which is profitable but you do not have an interest in it, you will eventually fail because as the going gets tough you will not have the passion to pull through the hurdle.
So when you are deciding on a niche, pick one that you are passionate in, and that is the best niche that you can choose.
Because there are too many questions about picking the right niche, I have developed a 3 Step Formula to finding the Right Niche. Enjoy!
A General Niche or a Specific Niche?
So you know what a Niche is and you probably have an idea of a Niche that you are interested in.
But, the question is, is the Niche too generic?
Like I’ve mentioned above, there are layers within layers of sub-niches. You may pick the soccer niche to work on, but that is too general which means that it is highly competitive, and your visitors may not be in the state of mind to purchase stuff.
You can learn more about the 3 Phases of a Purchasing Life-cycle here.
The key to finding a good niche other than your passion, is to be specific.
Instead of choosing a generic niche like, “Weight Loss”, you should drill further to find a sub-niche like “overeating”.
Especially in a niche which is created by “the problem”, it would benefit more if you are specific.
For example, in the weight loss niche, like I’ve mentioned above, there are people facing problem like overeating (a sub-niche), so you tackle that problem with the reason why they overeat, and you provide a solution to them. Maybe you can even write an article with the header:
“What caused you to overeat and how to solve the problem in 30 days”
Selecting a specific niche would allow you to differentiate yourself as an expert in that field, and you would gain the trust of your visitors and they will in turn purchase products through your affiliate links.
Did This Article Help?
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If you have problems finding a niche, don’t worry, this course will guide you find the right niche.
You may also like to discuss your niche with me by leaving a comment below. I will be more than happy to guide you through the niche selection process.