Do you find this word confusing, intimidating, or just plain scary? If you are, you’re overthinking it. I know I have in the past, to the point of it paralyzing me.
I would get so wrapped up with finding the “perfect” niche. I wondered if that niche would be profitable or if I would have a large enough (or too broad) audience, etc.
I would follow the advice of these internet “gurus”, only to end up not starting a new business, or starting the wrong one.
Then I found two solutions that helped me get to where I am today. And I would like to share my steps with you to help you along as well. It’s not as scary as you may think. In fact, it’s quite easy! This is where I learnt all about niches.
Let’s start with the first solution….
How To Define What A Niche Is
The Business Dictionary defines niche as: “Concentrating all marketing efforts on a small but specific and well defined segment of the population…”
The definition of a niche is simply a small segment of the population or a group of people – your audience. That’s it in a nutshell. Just a specific group of people looking for information or a solution to a problem, and willing to spend money on products and services. Simpler yet, it’s a group of people looking for stuff!
Then, You Ask, What Is My Niche Market?
There are about 2 billion people online looking for products, services, and information. It’s becoming the largest marketplace in the world. So a niche market can be absolutely anything. Think of the things you love. Look at your surroundings. Everything you see and love can be a niche. Your niche market is something you create by identifying a specific need or want that isn’t widely found on the internet.
How To Find My Niche, And Why I Do It This Way
#1. The first step is to discover your WHY
People want to know why you are talking about or selling something. It’s how our brains are wired. You want to get your audience to believe what you believe. People don’t buy what you do, they buy why you do it.
If you’d like to take 5 minutes to listen to “Simon Sinek: Start With Why” you’ll see where I got my “why” inspiration from.
He showed me how to approach my audience to encourage them to buy my products. You can have the best product in the world, but if people don’t believe IN you, they won’t buy. Tell them why you’re helping them, show them what you believe in, and they’ll buy!
From here, you need to find your passion. You have to love what you do, or else you’ll never have a reason to put in those extra hours to get things done. This is why your passion should be your starting point. Think about all the things you like or would like to do, your talents, skills and experience. Grab a piece of paper and focus on some questions:
- What do you excel at that other’s find difficult?
- What can you spend hours doing?
- What would you do even if you didn’t get paid for it?
- What do people ask you advice about?
Don’t think about the end product. Just write down your interests, things you want to talk about, something you want to become an expert at. Now out of everything you’ve written down, which one stands out to you? Which one do you enjoy the most?
One of these things will become your core niche, something that people will actually spend money on. You need to be passionate about your niche to enjoy working on it. The more you enjoy it, the more productive you will be. The more productive you are, the more profitable it will be. Passion + Why = Formula for Success.
#2. The second step is the HOW
Now you need to connect your “why” and your “passion” with what people need. In other words, how are you going to help people in the area you chose to market.
For instance, I love internet marketing. I think it’s a fabulous way to earn money from home and be your own boss. I want to help others who would also like to be internet marketers. But this topic is very broad online. I can’t be all things to all people. In the end, I’ll reach no one.
Therefore, I must keep digging down to find a much smaller niche. Don’t worry about not reaching as many people. Remember when I said there are 2 billion people online? I don’t think you have to worry about finding a smaller target.
Actually, a smaller more targeted niche is much more profitable. So I focus on one service that I believe in, and that will help a new marketer on his/her way to success.
Another example is “health”. A popular search for millions of people online, but it’s much too broad a topic. There are millions of people searching for specific help or wanting to buy specific products in thousands of niches in this industry. Narrowing it down to “weight loss”, then further down to “losing weight for seniors” is a much more targeted audience and yet there are still millions of people searching for it.
The smaller and more focused your niche, the easier it is for that group of people to find you. And the less competition you will have. You want to be the big fish in a small pond.
#3. The third step is the WHAT
The “what” is the product or service that you are offering. And this product or service is found online by using specific keywords. These are words that your search engine (google etc.) uses to narrow down all the information online.
For example, if someone typed in “health”, a vast number of sites would come up with everything associated with it. How on earth would they find your website?
But if they typed in something more specific like “losing weight for seniors”, your website could show up on page one, giving you your audience to connect with. It may seem like a very small segment of the population, but there are still millions of seniors looking for this solution.
I found a lot of sites online recommending that you (1) Research your keywords to see how many pages show up. (2) Google your competition to see if the market is too saturated with this product. (3) Check the bestseller books on Amazon to see what areas of help many people are looking for.
Though these are intriguing ideas, it’s time-consuming, discouraging, and way too broad.
What you need is a tool that can show you exactly how many times a word is searched in a month and how competitive it is. Sometimes all you need to do is rearrange the wording or phrase, and suddenly there’s very little competition.
Wouldn’t this save you so much time and anxiety? What if I told you there’s a tool you can use online, and it’s completely free!
This is my second solution….
It’s Free You Say??
You bet! It’s called Jaaxy. It’s free to try with no strings attached or required upsells to get the information your looking for. It’s a very powerful tool that I personally use all the time. All you have to do is sign up for your free account, and you can get:
- the average number of searches for that exact keyword, per month
- average number of visits to your website if you get 1st page ranking
- the exact number of websites online with this keyword (competition)
- a keyword quality indicator (great, normal, or poor)
- SEO score from 1-100 (the higher the better)
- domain availability for that keyword
My Final Thoughts
Finding your niche can be made easy with a little thought and some great tools. The creators of Jaaxy have also created a wonderful platform to get your niche a website, host it, and walk you through how to get successful online. Also, with a free membership. It’s called Wealthy Affiliate. It’s my personal #1 choice for the best help out there.
So go ahead and discover your passion. Enjoy your business. Become successful!
I would love to hear about your choice of niche. If you have any questions or comments, please leave them below. If you think this can help someone you know, please share.