Marketing Niche – Picking a Good One
Before you can get started with your mission to work online from home, you need to begin to give some thought to how you’re going to make your money. I don’t mean anything specific, such as, “I’m going to sell Industrial Products Widget 32-A in bulk at $99.99 each.” What I mean is, what marketing niche are you going to enter? If you want to make money online, there are a few steps you need to take, starting from the general and working towards the specific. It’s likely that you have no idea where you want to start or what you want to do. Don’t worry; that’s not unusual. What you don’t want to do is put the cart before the horse and try to start a business before you figure out what it is you want to do.
What is a Marketing Niche?
What are your interests? Hobbies? Crafts? What do you like to do? While anyone can theoretically get started doing business in just about any area, you’ll have the most success and the most enjoyment if you pick an area that interests you. That may have something to do with your recreational activities, hobbies or pastimes. Perhaps you like pets and animals, and you’d like to do something having to do with them. OK, that’s a good start, and there are lots of ways to make money that have to do with animals or pets. The problem is that this is a broad category. Animals and pets make up a pretty significant chunk of all life on the planet, and trying to come up with a business model that could incorporate giraffes or goldfish is a bit too broad. That’s why you need to choose your marketing niche. A niche, by definition, is a small space. A marketing niche, therefore, is a small space within a larger one.
The Internet is huge, and there aren’t many areas where one can make money online that aren’t already full of people trying to do the same thing. That’s not bad, nor is it unexpected, but the more broad your area of business, the more likely you are to encounter stiff competition. You’re always going to have some competition; that’s the nature of any business. What you want to avoid, if you can, is having to compete with businesses that are so huge that you haven’t a prayer of succeeding against them. Let’s go back to the animals idea. Perhaps you want to sell pet supplies, such as dog beds, or cat collars, or fish tanks and supplies. That’s a bit more narrow; if you’re selling such things, you won’t likely have to compete with people who are selling equestrian supplies. But you will still have to compete with a lot of big sellers who sell all kinds of pet-related things, such as Amazon.
Amazon is a good business to remember if you’re starting to sell anything online. If you’re thinking about doing anything, ask yourself, “If I was looking for this, where would I go first?” If Amazon.com is your answer, then you’re thinking about something that’s entirely too broad. You need to narrow your focus more. While pet supplies is an OK marketing niche within the world of animals, it’s still pretty broad. Why not narrow it further?
What about dog supplies? That’s a bit more narrow, but you can narrow it even further. Perhaps you could try offering products related to dog training. Now we’ve narrowed our focus. You’re not going to be competing with stores or businesses that sell all kinds of dog things; you’re looking only at people who have unruly dogs and need to train them. That’s good, because it’s narrowly focused, which will make it easier for you to attract visitors to your Website, and your buyers are likely borderline desperate, as dogs that need training have a tendency to frustrate their owners pretty quickly. Any marketing niche that targets desperate buyers is a good one, and the more narrowly focused, the better. If you wanted to narrow your focus even more, you could target people who are interested in training for a specific breed of dog. People who are searching for “German shepherd training” are likely to be motivated buyers. That’s a good thing.
We can use this sort of thinking to cover other marketing niches, as well. The weight loss niche is a popular one, as most Americans are overweight and a lot of people struggle to lose a few pounds. There are always buyers for weight loss products. The problem, again, is that this is a huge niche and if you simply try to create a business built around “weight loss” you’re going to encounter some stiff competition. If you narrow that down, you’re more likely to find desperate buyers and you’ll weed out the competition in the process. How can you narrow that down? Well, you could try weight loss for women or weight loss for men. By picking one of those, you’ve cut the market in half. What about weight loss for working women? Lots of women work and are overweight and don’t have a lot of free time to exercise. If you have access to products that might target that marketing niche, you’ll likely strike gold.
Finding a Marketing Niche Based on How People Search
When people search for something, such as weight loss, they don’t necessarily search for the term “weight loss.” They might, but they might also type in entire sentences or phrases, and it’s likely that someone might actually type “weight loss for working women” into Google or Bing in hopes of finding what they want. People search for what they’re looking for, and the key to choosing a marketing niche is to choose one where:
- You are targeting a small segment of the market, rather than all of it.
- You can give people exactly what they’re searching for.
What you need to do is:
- Find a marketing niche that interests you.
- Find a marketing niche for which there is demand.
- Find a marketing niche for which there are products to sell.
That may seem like an impossible task, but it’s not as difficult as you might think. There are ways of finding these things and free tools that make it fairly simple to find a marketing niche that can meet all of your criteria.
To learn more about choosing a niche and finding affiliate products to promote, you should consider Wealthy Affiliate. This training program will show you how to create effective Websites and you’ll also have access to useful tools, a helpful user forum and more. While there are many benefits to becoming a paid member, you can join Wealthy Affiliate for free.
In days to come, we’ll cover some of the ways to search for marketing niches, how to choose an online business model and how to find products to sell.