“Hmmmm….niche…can I…not have one?” Well nope. You most definitely do need one. This is that one dreadful we all want to avoid but is the most important step in the process. You might be a person who loves variety and has too many interests to choose from but your audience would like only one from you. They might not have the same set of interests as you, that’s when having one niche makes it easier for your audience to take interest in you.
“Okay I understand that but how do I choose one?” Let me show you how you can select the best niche for yourself in 5 easy steps.
1. Take a moment to consider your thoughts and interests
The first thing you have to do is to stop thinking about money or attracting a large number of visitors. It’s time to let go of the stress and relax in your favourite chair with some coloured pens nearby. You’re going to ponder the things you’re most enthusiastic about. What’s your passion? Do you have a specialisation in something because you appreciate it so much?
Whatever comes to mind, don’t be afraid to write it down, even if it’s a passion you’ve already given up on the idea of making money from. You never know when a great idea will come to you from the pages of a piece of paper.
2. Narrow it down
Now that you’ve chosen, you may even select a niche and then select a sub-niche within that niche. A profitable business is built on solving problems that make people feel something. Is it possible that your product or service may provide a solution to their issues? How many of your competitors can you effectively oust with the help of your market niche?
See what difficulties you can uncover by talking to people in your existing market or anyone who matches your potential client profile. People in your target market can be a valuable source of information, and these effective communication skills can help you develop a structure for asking questions that discover pain problems.
3. Determine whether or not there is a market for your specific niche
Yes, I did tell you to forget about money but only for a while. Cause you’re going to have to pay your bills so having a flair for a specific field is not enough.
It’s also important to make sure there’s a market for what you’re doing; otherwise, you’ll only be making a hobby out of it. Keyword research is a good approach to get a sense of the market. For this, the Google Keyword Planner is an excellent resource. When you type in a few keywords that are relevant to your industry, observe what other words and phrases come up. Use competition level, monthly search volume, and suggested bid to narrow down the results.
4. What is it about you that makes you better than your competitors?
You must do this in order to find your speciality online and then excel in your chosen field. You need a unique selling proposition (USP) in order to grab attention and attract enthusiastic guests to your online niche (unique selling point). This is what sets you apart from your rivals and sets you apart from the pack. Make a list of all the ways you may contribute to this market.
Here, you can use your passion, talent or knowledge in combination with all the competitive analysis you’ve done thus far. The best way to stand out from the crowd is to come up with a new version or alternative to what your competitors are doing poorly at – such as product demonstration, lack of personalization, or outdated designs.
5. Try out your thought
You’re good to go now! You should test out your niche idea online before launching it for real. Dip your toe in the water and see if you get any bites online. You can achieve this by setting up a website or online store where customers can order your goods or service in advance. Your idea’s interest level will give you an indication of how far you should go next.
Your niche may not operate this way, or you may not receive any pre-orders. That’s fine! It’s best to start small and keep an eye on how your niche is performing online.
