In the online marketing world you hear the word niche thrown around a lot. Especially when you’re narrowing down your market.
Anyways, the term “niche” has several definitions. According to dictionary.com, a niche is “a recess in a wall, especially one that contains a statue.” A “…recess, such as one in a rock face.”
Basically, a hole or a crevice.
Finally, a niche is also defined as, “a distinct segment of a market.”
The last definition most appropriately applies to affiliate marketers. However, the first two definitions can metaphorically apply to online marketing.
How Do the First Two Definitions Apply?
Here’s a scenario. A homeowner has a room which feels like a sauna. They decide to not crank up the air conditioner to compensate for the heat because:
1) The electric bill will be astronomically high
2) A lot of energy will get wasted trying to regulate that rooms temperature
3) The rest of the house will be freezing
The homeowner figures a fan is a better way to solve the problem. They buy one and install it. The fan is cooling things off, and the room is no longer a sweat box. Life is good again!
Okayyy…So What’s Your Point?
In this scenario, the problem (or hole): “The sauna-like room” is the niche. The fan is a specific household appliance that filled the niche.
Products fill niches in certain markets. You can also say: “Niches are needs filled by specific products.”
A lot of people fall into the trap of trying to choose a niche, and usually end up failing. There’s a more effective way of figuring out how to promote products.
If you try to “decide on a niche” you’ll just end up pulling out your hair. More than likely, you’ll quit out of frustration.
Don’t Choose Your Niche, Discover It!
Remember what I said about how people have needs they want filled? There are millions of people who want their problems solved.
Don’t try to “decide” on what their problems are. Instead, go out and discover what needs aren’t being met. Then, help them find a product that provides a solution.
Think of niches as little gold nuggets which you have to uncover.
No, I’m not talking about Ford, GM, and Chrysler. What I am talking about are the top 3 niche markets. These niches are huge, and extremely popular. They’re also very competitive.
If you’re just starting out, then these markets can be hard break into, but it is possible to find smaller, less competitive niches (known as low-hanging fruit) within these 3. It’ll be easier to profit from these niches once you have more experience under you belt.
For the sake of education, and to get the brain juices flowing we’ll continue discussing the Big 3. The top 3 niche markets are: Health and Fitness, Dating and Relationships, and Business and Money.
Health and Fitness
The two leading causes of death in the US are heart disease and cancer. People are more conscious about their health and well-being than ever. Consumers are taking preventive measures to stem off the ill effects that come from poor-dieting and a sedentary lifestyle, and looking for ways to lead a healthier way of life.
Weight loss is a popular topic in this niche. Hypertension, high cholesterol, obesity, and other health issues are a big concern. No one likes the idea of having to go through heart bypass surgery at the age of 30.
People want to change their diets to eat healthier. They’re also trying to find ways to lead a more active lifestyle. Even more of them are looking to do both.
We live in a world where everything moves at the speed of light. This creates a perfect breeding ground for high stress environments.
We tend to worry about things like providing a higher quality of life for our families, relationship drama, constantly being on the go, meeting deadlines at work, etc., etc., etc. Because of this, we quickly get burned out, and are looking for ways to manage our stress.
Dating and Relationships
Humans are social creatures by nature. If you turn your focus away from the barrage of distractions our society throws at us, and look at how our brains work at the most basic level, you may see that our purpose on Earth is to survive and replicate.
We’re programmed to go out and seek a mate. Searching for companionship is a primal instinct that is hard coded into our genes. This niche is especially popular for men because, surprisingly, many of them don’t know how approach and talk to women!
In the pick up artist world these blokes are referred to as “Average Frustrated Chumps,” or AFC’s for short. Ever seen VH1’s “The Pick Up Artist?” You’ll know what I’m talking about if you can find the videos.
You can also look up Erik Von Markovik aka “Mystery” and read about him.
Don’t be quick to judge and label this niche as something for just players. Keep in mind this market doesn’t solely cater to those who are only interested in one night stands, and casual dating. These are just sub-niche’s within Dating and Relationship niche. This market also encompasses how to improve a relationship you’re already in. It even includes marriage, the ultimate step in relationships.
We yearn for companionship. At one point or another we will go out and search for our soul mate. We want to bond and form deep, intimate connections with someone, and build a life with them. This is why this niche is so popular and won’t go away anytime soon.
Business and Money
Wouldn’t be great if you can just quit your day job and work for yourself? No bosses to answer to, no commuting, not worrying about losing your job during the next layoff cycle, more time for you focus on your family or hobbies. The list goes on!
People, especially stay-at-home and single parents often try to find ways make a full-time income from home.
Employed workers are finding it harder and harder to make ends meet because they’re underpaid by their employers.
It’s becoming more common for them to search out alternative ways to create a supplemental income.
With salaries barely (if that) keeping up with the rate of inflation, it’s becoming more of a necessity to create multiple income sources.
Narrowing Your Niche
Keep in mind the above niche markets are very broad. If you market a product under “Health and Fitness,” you’ll be fighting an uphill battle.
Narrowing your niche is an extremely important step when creating your online business. Find a product that specifically addresses a problem your customer has.
Would you create a website under the keyword “Vehicles?” I hope not. A vehicle could be a plane, boat, car, truck, motorcycle, tractor, battle tank, etc. See where I’m getting at?
In order to become successful with your online business you must take the step of narrowing your niche!
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