The internet is massive, and it’s continuously growing. There are 1.7 billion websites on the internet, with 12 million of those being eCommerce sites, according to WebsiteSetup.
With how crowded the internet is, it’s extremely important for your business to target a specific niche to find success. Finding a niche will set you apart from your competitors and help you find a loyal audience or customer base.
In this post, we’ll be going over some tips that you should be aware of when trying to find the right niche for your business, as well as a few examples of successful niches.
First, you should be aware of what niche marketing is.
What is Niche Marketing?
Niche marketing is focusing your company’s efforts on a niche market, one that has a unique aspect to it. That could be a certain location that people live in, a hobby or interest, a demographic, and much more.
A niche market that is worth targeting is one that has a high demand, high potential for income, and doesn’t have a lot of competition.
Why You Should Focus on a Niche Market
There are a number of benefits and advantages to targeting a niche market over a less specific one.
First, there’s less competition in a niche market. If you’re targeting a very specific niche, naturally there will be fewer companies targeting it as well. In a smaller market, you’ll also have to spend much less on your marketing. There are a much smaller number of people in these niche markets.
Targeting a smaller group of people is advantageous in many ways other than just saving on marketing. It will make your brand more visible in the space you’re targeting, and it can position your brand as a leader in it as well.
Your customers will also be more loyal to your brand if you’re intelligent about your marketing. Personalizing products and marketing to them will increase brand loyalty.
Pro tip: Once you’ve found your niche, create a branded online store to sell to your target customers.
Finding the Right Niche
Finding the right niche market for your company can be difficult, but there are steps you can take that will make the process much easier. Here are a few things you can do that can help you find the right niche for you:
Use Google Search
Google will be your most useful resource when looking for a niche market. Use Google to look at what your potential competitors are selling and putting on their websites.
Think of different terms surrounding your niche topic and Google them to gather new ideas and get a better understanding of that niche. Look at the competition and assess their strengths and weaknesses.
If you see a lot of competition in a certain niche, then it is likely one that can have a valuable profit. However, the barrier to entry is likely much higher than in other niches.
Look at Google Search Suggestions
If you didn’t find what you were necessarily looking for by looking up terms on Google alone, then try out Google’s search suggestions. Type in a term into the search box and look at the related and suggested search terms that appear.
By clicking on these terms you’ll find other ideas surrounding your niche that you may not have thought of on your own. Keep cycling through different search terms and repeat the same process you used for normal Google searches.
Utilize Social Media
Look at various social media platforms to find different groups related to your niche online. You’ll be able to see people in your demographic, their views, opinions, and thoughts on things related to your company.
Here are a few tips for three of the major social media platforms:
- Facebook: Look around at different Facebook groups and pages related to your niche. Look at the topics people are discussing, their opinions, and thoughts on them.
- Twitter: Look through different hashtags related to the niche you want to target. Find different accounts to follow and keep track of what they’re tweeting about and liking. You can also follow a hashtag on Twitter directly.
- Instagram: Find hashtags and accounts to check out. You’ll also want to look at Instagram Stories and Reels, they can provide you with more good insight into the niche you want to target.
You can also find your niche with marketing automation tools, making the process much easier.
Look for Niche Websites
In addition to social media, look at niche independent websites and forums that are related to the topic you’re targeting. Look through threads, articles, and whatever else you find that can be valuable to your marketing efforts.
Remember, you can never know too much information about your niche. The more you know, the better you can target and refine your marketing strategy.
Examples of Successful Niches
If you’re looking for some examples of successful niches when looking for your own, here’s some to get you started:
Home Improvement
The home improvement market is a large one and has a large potential for profitability. People that improve their homes are spending a lot of money on upgrades, equipment, and material for their homes. Due to the COVID-19 pandemic, with people spending more time at home than ever, this has only increased.
Gaming
The gaming market is one that has grown exponentially for over 30 years. Gamers are regular spenders, buying new games, hardware, consoles and accessories. The video game market is very diverse and competitive. It has become one of the most profitable industries and spaces in the world and only continues to grow.
Financial Freedom
The financial freedom niche has existed for a while now but now has stepped into the spotlight. There are countless books and websites giving people advice on making money from almost as many angles. This is a market where there is still enough room to target a specific niche within it if people’s needs and wants can be met.
Bodybuilding
Bodybuilding and fitness, in general, is a niche that peaked during the 20th century but has still maintained relevance and strength today. Those in the space are consistently spending money on supplements, vitamins, and diets to maximize their work in the gym.
There are a number of different things that can lead to niche marketing success, learn more from this post on our blog.
Now that you have an idea of what niche marketing is and are aware of some examples of successful niches, you’re ready to find the right one for you. If you’re looking for other niche marketing tips, check out this post from WebsiteSetup.
We’ve also included an infographic below that will help you find the right niche for you.
