Niche Marketing FAQs
Have you read a lot of information on marketing and building your own online business but been left with the same questions you had in the beginning?
Let’s see if we can clear some things up.
#1 What is a niche?
A niche is a small and targeted portion of a market. For example, Office furniture is a market. Office desk chairs is a smaller and targeted portion of that market.
The biggest mistake people make is trying to tackle a whole market at once instead of a well defined niche.
#2 Why Niche?
Choosing a niche can help you:
– Increase your profitability
– Appeal to an audience that may be more loyal
– Reach your prospects faster because you have less competition
– Build credibility and trust because you’re an expert on a specialized topic.
#3 How Do You Define a Niche?
A niche can be based on any number of things. For example, on the topic of office furniture you might choose the following definers:
– Age – office furniture for seniors
– Region – Midwest Office furniture
– Need – Office furniture for small spaces
– Income – Office furniture on a budget
– Beliefs – Office furniture for the environmentally conscious
– Trends – Bamboo office furniture
This isn’t an exhaustive list. You can also define a niche based on ability or interest level, by cultural group or by profession. You can even STACK these elements. For example: Bamboo office furniture for College Students! (Now, that is a a true micro-niche!)
#4 Finally, the most commonly heard question is “How Do I Choose a Niche?”
When selecting a niche you want to first assess the things you (a) enjoy and (b) have some experience in. For that, I suggest a brainstorming exercise to start you off right. Make a list, a big list! Scratch off any item that you do not enjoy enough to talk about every day for the next five years!
Once you have that list, then you need to do some keyword/niche research and look for niches that are (a) profitable (b) not too hard to compete in and (c) have enough traffic! Use of keyword/niche research tools, such as Market Samurai, are excellent for this.
Do not select a niche only because it is profitable but also do not select one that is not monetizeable!
It will take time and effort to find a niche that you both enjoy and meets the numeric requirements of a good niche but be persistent! A couple weeks dedicated to research could save you as much as YEARS of slogging through a weak niche in the future!
I hope this Q&A helped you make sense of some of the most common questions in niche marketing!
~ Kim ~
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