Are you ready to start an online business and make money online?
If you are, you will need a niche market.
Choosing a niche is tricky, and can take longer than you expect in some cases.
Fear not, no need to be discouraged because this post has quick hacks that will help you find your niche above all the pressure you are feeling right now.
Finding a niche is something that most successful online entrepreneurs do at the beginning before they invest or implement their ideas.
For example, Tony Robbins is in the personal development niche, and Rand Fishkin is in the marketing niche, the list goes on and on.
Blind ambitions are not welcome for online entrepreneurs because the internet platform is flooded with competition.
If you want to stand out, you must be very strategic and specific in finding your niche, defining your unique selling propositions and understanding your buyer personas.
I know you have encountered people who tell you that finding your niche is a waste of time and it’s not necessary.
However, if you want honest advice from my personal experience especially if you are a newbie, kindly do not listen to them.
It is better to start small and diversify later when you understand your audience and market better.
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What is a Niche?
A niche is a specific segment of your target audience that shares common characteristics and problems.
This specific target can be grouped by service, product, industry or population.
For example, by service, you could have blogging, coaching and shopping niches among others.
In the product classification, you could have books, furniture, and electronics niches among others.
While in the industry category you could have marketing, manufacturing, and catering niches among others.
Finally, by population, you could have teens, the elderly, pregnant women, and dads among others.
Some niches are broad and are broken-down into sub-niches. For instance, Health can be divided into workout, weight loss, fitness and skincare among others.
|Health||Weight Loss, Weight Gain, Muscle Building, Nutrition and Diet|
|Dating||Dating advice for women and online dating|
|Make money online||Blogging, Digital marketing, Freelancing and online jobs.|
|Personal development||Mental health, positive thinking, meditation, and self-development.|
|Personal finance||Saving, investing, wealth and money|
Why Do You Need to Find Your Niche?
I bet you have heard of this saying, “Do not be a jack of all trades, and a master of none.” Right?
This directly applies to the reason for finding your niche. You do not have to spread too thin over multiple specializations instead of focusing heavily on one single market.
Take for instance, if you were a human resource manager and you received one application from a writer who does not specify what they write about, and the other from a writer who explicitly defines that they write B2B white papers and case studies, whom would you hire between the two?
I am sure you would choose the second writer who is more specific and has some expert knowledge in something. Right?
I know some of you reading this post can run a business like Amazon that specializes in everything. If you have the team, budget, and the skills, why not go for it? It is all about finding what works for you best.
Since I am writing this post for people who are just starting out, and my best advice would be finding your niche is important because of the following reasons.
Finding your niche is like specializing on one of your strengths, which distinguishes your business from your competition. It tells your customers that you are an expert in the services you offer or products you sell.
Finding one niche produces a passion for one specific cause of action, which creates unfailing strength. You need this kind of motivation because it will keep you going during the low moments.
Finding your niche will save time and resources. It makes marketing easy and also protects you from running into debts and other strained budget problems.
Beginning with a single niche from the beginning of starting an online business will accelerate your learning and growth curve as an entrepreneur. Focusing on one segment and mastering it helps you to discover what works and what does not. This experience will inspire your future changes, investments, and decision making.
Find Your Niche Now With These Three Quick Strategies
Strategy one: Determine Your Interests and Passions
The niche will be your engine, but your passion for it will be the gasoline that keeps the engine running.
Starting an online business idea around what you already love doing or that which you desire to learn more about facilitates the beginning of success and growth in your business.
For these reasons, measuring your passions can help you find a niche that will become the foundation of a fulltime income.
There are many questions you can answer to determine your passion, interest, and hobbies like the ones explained in this article the 30 passion quiz list. Here is a small list of four examples.
- What do I like to spend my free time doing?
- What blogs, newspapers, magazines, channels, podcasts, and courses do I subscribe to?
- What topics do I want to learn more about?
- What do I know more than the average person?
You can aslo complete the activities below.
- List 10 topics you enjoy reading, talking or learning about?
- List 10 skills you have gained from your past work, education or volunteering-related opportunities.
- List your top 5 hobbies.
The common patterns you find in the answers you provide in these questions will be mostly related to one subject area. That subject area will be the niche you are working so hard to find.
Strategy Two: Identify Problems that Need Solutions
The reason entrepreneurs start businesses is to solve a problem, fill a gaps in the market or provide solutions that meet the needs of their target audience.
Your online business will not be different too because to remain relevant you have to identify yourself as a problem solver target niche market.
For this reason, you can choose your niche by identifying common problems that need solutions in the society today.
These problems can easily be found using these 10 of the Best Content Curation Tools You Need Right Now. Below I have discussed a few examples.
Forums and niche communities
These are boards where people ask questions and receive answers, open discussions on given topics and exchange ideas on particular issues of interest.
On the other hand, others are specific to certain topics or niches. If you want to find one that is specific, just run a search on Google with the following combination, “[Topic of interest] + Forum.” For example, you can type “Digital Marketing + Forums”.
I like using Quora, and all you have to do to find your niche is enter a topic on the search bar, and you will receive 1000+ questions and answers that people ask in that niche.
You can use the filters to find commonly asked questions to establish a pattern. A subject with frequent questions shows that that is a profitable niche with attentive audiences.
My favorite niche community that you can use to find problems that you can transform into a niche is Reddit.
This is a community divided into niches of similar subjects called subReddits, such as r/Freelancing for freelancers, r/digital marketing for marketers and r/blogging for bloggers among others.
Questions or contributions that receive higher upvotes and comments in the main Reddit or subreddits are what you are looking for in this search. Determine the industry they are related to, and that will be the niche you are looking for.
Social media networks, such as Facebook and Twitter are not only networking sites but also places where people go to share their problems and find solutions.
I like to use Facebook to gather common problems people are struggling with in their day to day lives.
Facebook groups and polls are two handy tools you can use to do this research.
Join new groups in your area of interest or monitor the questions commonly asked in the groups you are already a member. These questions have the patterns and mostly relate to a particular subject, such will be the niche you are searching.
If you are lucky enough to have many followers on these platforms, you can run a Facebook poll or ask questions to understand, which topics these people are interested in more than others.
Keywords are the words, phrases, and queries that people use in search engines to find information.
Some keywords have high search volume and profitability than others. To be on the save side and to make money in your online business you need to seek for keywords with these characteristics.
One free tool that you can use for keyword research is Keyword Everywhere and Google AdWords. This article How to Research Keywords that will get you on Page 1 of Google will give you a step-by-step guide on the relationship between keywords and your niche market.
For example, herbs niche has a search volume of 165,000/mo and a competition of 0.14, while marketing has a search volume of 823,000/mo and competition of 0.11. In this case, marketing would be the best option for a niche because it has high search volume and lower competition.
Market research tools
TypeForm will help you to create surveys and polls, which you can share on social media and other platforms to find answers and gather opinions. They will generate a link you can share anywhere on the web to collect information.
It is a data collection tool that will help you to understand your audience better. The good thing about this tool is that you can collect emails with it, and also it will provide you will analytics and insights about your interested audience.
AskThePublic will give you all the questions that your audience ask related to that subject area. For example, I typed “Marketing” in the search bar, and I received all these suggestions associated with this keyword.
Strategy Three: Imitate Your Competitors
Your competition can be your mentors and other online entrepreneurs you follow.
These can be the newsletters, blogs, websites and YouTube channels and you subscribe to for daily feeds.
There is a high possibility that if you like their content, it is most likely that these are the subjects you can use to find your niche for your online business.
Additionally, you can identify the gaps they have left and find your niche out of that. Also, you can look at customer reviews to gather additional suggestions that their audience is giving.
Use your competitors and mentors to your advantage by learning from their successes and creating entrepreneurial opportunities around their failures.
There are several tools you can use to analyze your competitors, such as SemRush, SimilarWeb and Compete. The advantage of SimilarWeb is that they have a Chrome Extension, which allows you to use this tool from anywhere on the web.
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How To Determine if A Niche is Profitable or Not
I am sure you want to create a successful online business where you can make money.
Here are some of the strategies you can use to determine if a niche is profitable or not:
Google Search Results
Higher search results mean that more people are interested in that topic, so it has a ready market of consumers who will buy from your online business.
For example from the two images below you can tell that Marketing niche has over 1.9 billion search results in comparison to herbs niche with 216 million.
This means that marketing niche could be more profitable since it has a higher audience appeal and search volume than herbs.
All products have different performance records. To find your niche, look at the categories, and if there are top product offers in category, it is a good sign that people are willing to monetize that niche.
5 Common Mistakes Bloggers Make When Choosing a niche
#1 Going in too green
“Too green” means having too little information on what a niche is and how to choose one.
If make this mistake, you will definitely make the other four mistakes below and probably these 15 blogging mistakes made by newbie bloggers.
Therefore, make sure you understand the following before you choose:
- What is a niche?
- How to choose a blogging niche?
- How to determine if a niche is profitable or not?
- What are some examples of highly profitable niches?
#2 Going Too broad
Have you heard of the saying, “A jack of all trades is a master of none”? As a blogger you will be building a brand and setting yourself as an expert in a given topic. You do not want to confuse your readers with a mixture of information.
Therefore, instead of choosing a broad niche like health, it is advisable you narrow down to its sub-niches like fitness, nutrition, and dieting among others.
#3 No Unique selling propositions (USP)
Unique Selling Proportion is the selling point or advantage that will give you a competitive advantage over other online entrepreneurs in the niche you are targeting.
It is that characteristic of your products or unique way of doing things that will ensure that you succeed in marketplaces where other people have failed or have left gaps.
Do not copy your competitors 100%, make sure you offer something different to stand out in all the competition.
Look at the Internet live stats below and you shall notice that over 300,000 blog posts are written on a daily basis. More so, close to 2 million websites are created daily and most of those might have a blogging section too. To stand out of all that competition you must have a USP.
#4 Focusing on your passion, not the profit
A six-figure earning blogger did not use his or her emotions to pick the niche.
The question is not, what you love to write about, but which topic are your readers interested most about.
This is about your target audience not about you.
I know you want to enjoy the topic/niche you write about. Most definitely you should. However, remember is there is not much people who care about it, then you shall not make enough money with your blog.
That is the reason why we talked about the process of determining if a niche is profitable or not.
#5 Not doing enough research
A niche is not something you use your feeling to pick.
You must conduct thorough competitor analysis to test if the niche is profitable and come up with a unique selling proposition.
Find Your Niche Final Thoughts
Finding a niche is not one of those straightforward actions, such as drinking water.
It is a process that will take careful analysis of several factors, such as your passion, your target audience and the profitability of your target audience.
In this post, I have given you reasons why you need to find your niche instead of being a jack of all trades and a master of none.
I have also given you a comprehensive list of tools, questions, and resources that you can use to find your passions, research the needs of your target audience and measure the profitability of your desired niche.
This process can take longer than you expect and even get harder or impossible to choose one niche than you thought.
Here are Quick Tips you can use to find your Niche More Successful.
Take action: If you can’t seem to make up your mind move on you will figure it out along the way. Start with what you know or have no matter how small it is at the moment. The exciting and comforting part is that you can change your niche along the way. It is not a “do or die ”
Have the right mindset: Yes you are building a business from scratch, but remind yourself that everyone starts from nothing and works their way up. Think like a business person with a vision they want to implement. Remember, riches and money will not begin trickling in overnight. It takes patience and consistency on providing unfailing valuable content and solutions to your target audience.
Step out of your comfort zone: It is not easy to sell yourself to the world as a newbie, especially on the online platform. The truth is that there is too much competition and standing out is difficult. I will not lie to you because this will intimidate you and you will question if you are good enough many times. Get used to the fact that you’re going to have to do things that scare you if you want to become a highly successful online entrepreneur.
Permit yourself to fail:Failure is human, and you can never be the best in one day. It takes many lesson and mistakes to get it finally. Therefore, purpose to always stand up and move on every time you fail.
Make Google and your Mentors your inspiration: Take comfort in Google because it has all the information you need. Search for anything you are confused about right now, and you will find more answers than you needed. If you experience a stagnant position, do not be afraid to reach out to other successful people in your niche. For example, start with me, and I will offer any advice or lead you need for free,
Want two books that will give you in-depth information about Niche Marketing? These two below here can help you out to find your perfect niche.
Feel free to leave a comment below asking a question, sharing an additional tool or even better provide a suggestion of a post you would like me to write about.
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