What IS a Niche?
How To Use This Guide
Throughout this series, we’re going to talk about everything from brainstorming a niche, to vetting a niche, to profiting from a niche.
I suggest you follow the series from start to finish at first. Then, refer to specific sections as you need to, as you start to formulate your niche success plan and put it into action.
Table of Contents
- What Is a Niche?
- Which Niches Are Good for Internet Marketers?
- How Do You Make Money with a Niche?
- Can You Be in More than One Niche?
- The Basics of Choosing a Niche
- The Popularity of a Niche
- Begin with the End in Mind
- Coming up with Niche Ideas in the First Place
- Moving to Additional Business Models Once You’re in a Niche
- How to Come up with Amazing Niche Ideas
- Verifying Your Niche Idea Is a Good One
- More on Determining Profitability
- Verifying the Niche…Again
- Building Your Online Presence to Establish Yourself in a Niche
- How to Create a Solution and Monetize It
- A Final Run Down of Choosing Your Niche
- It’s Time to Profit!
You hear a lot of people in internet marketing talk about the importance of choosing a good niche. That, they say, is the real secret of earning money online. If you can find a hungry market and deliver something they’ll be willing to pay for, you can strike it rich.
But how do you find those lucrative niches in the first place? If it were really that easy, surely we’d all be Internet millionaires, right?
I mean, I am. Why aren't you? (I'm not.)
There are clearly some niches that are bound to be lucrative and others that are clearly not bound to be lucrative. What’s the difference and how do you know which is which? We’ll go into that throughout this series, but first it’s important to understand that just because a niche is profitable for another person or company doesn’t mean it will also be profitable for you…at least, not right away.
Think about niches like weight loss. We all know that people spend obscene amounts of money trying to lose weight each year. Should you enter the weight loss niche? It’s going to be pretty hard for you to stand out if you do.
I’m not telling you to stay away from niches like that, either. I’ll show you exactly how you can enter a massive niche like “weight loss” and still come out a winner.
As a hint, the more targeted you are, the better.
What Is a Niche?
If you’re not already familiar with what a niche is, stay tuned because I believe I can clarify things for you a bit more.
At its basic core, a niche is a group of people who are interested in a particular thing. They might read about that topic, think about that topic, get frustrated by that topic, seek advice about that topic, think passionately about that topic, or a combination of all of the above.
The topic is important to them in some way. It’s something that doesn’t easily leave their mind. As you can probably tell, there’s a lot of passion behind the topic. Whether it’s positive or negative emotions, it’s enough emotion that they are drawn to the topic at hand.
Take Trump, please! (Variation on a really old joke.)
As a marketer, you can enter into a niche and earn an income by promoting and/or creating products that people will buy, whether you’re selling information products, creating niche websites, writing books, or some other way.
That’s because the internet has changed the way society operates. Never before has it been easier for people who are interested in a particular topic to find like-minded people on the web to chat with or earn from. People from every niche under the sun buy products online, join social media groups, subscribe to blogs, and keep up with news, information, and others in the niche in every way they can.
A great number of people don’t just browse and learn about their topic online. They also buy products online. E-commerce has taken off in a major way.
This is where you come in.
The niches you want to focus on are ones where people are spending money. You want to focus on the niches where people are hungry to spend more and more money buying new products to satisfy their passions or satisfy their needs.
As a marketer, you should target a niche that you can deliver something to as a way of earning a great income.
There are certain niches that don’t really spend any money. Those aren’t the niches you’re interested in. There are other niches that spend a lot of money but are over-saturated by competition. I’m not going to tell you to steer clear of those niches, but I am going to tell you there’s a certain way that you, as a newbie and sole business owner, need to focus on those niches.
The #1 rule for you as a niche marketer (and now that you’re reading this guide, you are one) is that you’re only going to target niches where people are actively spending money.
You don’t want to target a niche that is really popular but that no one spends a dime in. You don’t even want a niche where people might buy just one product and never again. You want a very hungry niche where people are spending a lot of money and buying product after product, reading everything they can get their hands on, and more.
Takeaway: Pick a niche where people are actively spending money.