A niche can mean two things in marketing.
A niche in traditional marketing is an area of interest within the broad marketing field in which an individual or business specializes in.
But, a niche in affiliate marketing is a specialized topic that you can write about. It is all about targeting your audience and curating content to resonate with them. It is an effective strategy affiliate marketers use to drive traffic to their website and get commission on sales.
Are niche and industry one and the same words?
Niche and industry are not interchangeable words. Please don’t mix them up!
Niche is defined as “a small group of people with a particular interest or area of expertise.”
The industry is defined as “the branch of commerce or manufacture in which something is produced.”
Learn how to pronounce the word “niche”
I have to address this.
The word “niche” comes from the French, where it is originally called “nishh” with a “shh” sound in the end.
However, It’s pronounced as “Nitch” in North America and “Nishh in The U.K.
What are examples of niche markets?
Before giving out some niche marketing examples, it’s important for you to know the meaning of niche markets and niche marketing.
A niche market is a subset of a larger market. It is typically characterized by a smaller group of customers, which value a specific product or service.
Niche marketing is the act of targeting specific customers who share common interests and characteristics. The first step to practicing successful niche marketing is developing a clear understanding of who you want your customers to be and what they want from you.
Now that you know the meaning, it would be easier for you to understand the following niche market examples.
- Writing blogs to a target audience who loves Disney.
- Creating Youtube videos to a target niche audience who loves camping.
- Hosting a podcast for niche audiences who are interested in weightlifting.
How to find a niche market?
When looking for a niche market to enter, it’s important to consider the potential customer pool, the competition in that niche market, and the saturation in the niche market.
If you’re not sure where to start, research twenty or thirty ideas before narrowing down your list. You can do this using a keyword research tool such as Google keyword planner or Ahrefs to create a mind map. I personally use ahrefs to find profitable niche markets using their site explorer feature. If you have access to ahrefs, you can check out this video.
There is another way to find profitable niche markets. You can use the Keyword planner feature in Google ads to filter out the most profitable keywords in Amazon.
You can spot the profitable keywords by looking at the search volume. I would suggest you choose a topic of interest instead of going for a search term with a high search volume (Don’t be greedy!). Choose a niche market where it is easy for you to create content.
Do’s and don’ts for niche marketing
Do: Use many platforms to promote content.
When you first start out, it can be tempting to focus on one particular platform or website that is popular with your target audience. This could work if you already have a large number of followers or visitors on that platform or website.
However, there are many other platforms and websites that may be more suitable for your brand.
Try posting content on multiple platforms and see how it goes. As you grow your brand, you will learn which platforms and websites perform best for you. Once you’ve found them, stick to those.
Don’t: Don’t put all the eggs in one basket
As mentioned above, it’s very easy to get carried away when you first start out. It’s natural to feel excited about starting a blog or a social media channel. However, it’s also important to remember that no single platform or website will bring you success.
Instead, diversify your efforts across multiple marketing channels. Start small and build up slowly. Your goal should be to build a strong foundation so that you can scale later.
Do: Understand their paint point
It’s important to know who your audience is and what their pain points are. Otherwise, you’ll find yourself unable to recommend products that cater to their needs or sell them on why a product will benefit them in the long run.
Don’t: Don’t try to be everything for everyone.
It’s possible to create a lot of content but still struggle to gain traction with your audience. The reason for this is because you’re trying to be everything to everybody.
For example, let’s say you want to write about fashion. Well, you might think that model would love your posts about fashion. But they probably won’t. They just want modeling tips. So, you end up writing about fashion without any real knowledge of the subject.
That’s why it’s important to understand your audience and what they want from you. Only then can you provide them with exactly what they need.
The downside of niche marketing
Niche marketing gives many opportunities for a company’s growth. However, it can have some downsides if you are not careful.
One of the biggest drawbacks of niche marketing is the lack of visibility in search engine results pages. If you are not targeting broad keywords, your site will be less likely to show up when someone searches for your competitors or similar companies in your market space. This can lead to lower conversion rates and fewer prospects since it’s harder for people to find you online.
Another drawback when it comes to business is creating content for a particular niche market. An advertiser needs to spend more money on content creation because of the narrower scope of the industry being targeted. For example, if you are an advertiser marketing travel services within China, you have to generate reasonable content appealing to Chinese people’s tastes for this specific country only. If you are selling to a consumer outside China then you have to produce separate sets of tailored content that will be appealing to other countries too.
Conclusion: Niche marketing strategy
Irrespective of the drawbacks, more and more small businesses are turning towards niche market strategies because they offer higher conversion rates than traditional advertising. This means more sales for a niche business at lower costs.
You may want to consider niche marketing if you’re looking for an easy way to get started in your field without having to spend too much time or effort.
What direction would you like to go? Tell me in the comments section below.
BONUS: Some of the profitable niches to start a business
1. Prepping
Prepping is a niche market that is trending in popularity, and it’s not hard to see why. With the increase in natural disasters and natural disasters, people are looking for ways to protect their loved ones. For many people, this means putting their trust in preppers who can help them prepare for the worst.
2. Relationships & Dating
The dating industry is a broader market that’s now worth billions of dollars. With the rise in online dating, it is now more important than ever for companies to find new ways to stay competitive in the field.
3. Home Security
With the number of local home invasions and burglaries going up, people are going to be looking for a way to improve their security. Home security can come in many forms, from a simple lock on your door to a sophisticated system that monitors your house 24/7 for intruders. This makes it a profitable niche market.
4. Healthcare
If you are looking for a new niche to break into, healthcare is a profitable niche idea. As the population of the world gets older, there is more demand for healthcare services. Healthcare organizations are always looking for people with different backgrounds to come on board and help them grow their businesses.
5. Pet supplies
Pet supplies are continuously growing as a niche market, with people owning more pets than ever before. This has led to an increase in products for pets such as pet food, which has made it easier for companies to find the right product for their target audience. It has also made it easier for consumers to find products with specific features on online shopping sites.