How do you find the right niche market_

How do you find the right niche market?

Finding the right niche market can be complex, you can’t afford the luxury of going into the wrong market and ending up with niche products that no one wants.

Do you want to create a niche site or a niche blog and ensure maximum profitability? Do you know what methods to use to analyze and choose a successful niche market? If you are like many Internet users looking for answers, this guide is for you!

Niche market: definition and example

Definition of a niche market

To get started, let’s take a look at what the term ” niche market ” means:

A niche market (Article on my blog: How to come up with niche site ideas?) also called a ” market niche ” ” narrow market “, ” specific market “, ” market niche ” or even ” specialized market “, is, as its name suggests, a very specific market, which will isolate a subject specialized in a domain.

In terms of products and customers, this is a small market segment, which will allow you to place yourself in a much less competitive environment, compared to a general market.

The niche market on the web

As you have probably understood from the definition, the niche market is a marketing strategy that also (very often) applies to the web domain. Thus, the expressions ” niche site ” or ” niche blog ” are common in the jargon of web marketers.

The idea, by logic, will be to select (utilizing methods developed later in this guide) a judicious subject for the creation of a website, then to multiply the number of monthly visitors by specifically targeting your theme.

This main theme will then be less “generalist” and will allow you to deal with particular aspects of a “subset”. If you don’t quite get this niche site idea, here’s a big example.

Niche market: example

You want to talk about a theme that has always attracted you: cars and modern mechanics.

You then have 2 choices: start a general automotive blog, or target a very specific model (the 2CV for example ), and it is precisely this second option that will be considered as a niche market.

Your niche site will therefore only deal with the 2CV: the parts, the history of this car, the points of sale …

Niche market: advantages/disadvantages

Why enter a niche market?

Now that the term “ niche ” is a bit clearer to you, let’s dive right into the main topic of this guide: finding a  profitable niche market. (Article on my blog: Best ways to find a profitable niche)

This generally applies in the case of e-commerce but can be used for affiliation, or training sales, among others. The goal will inevitably be to generate maximum income, by selecting a product type sub-categorized by a popular theme.

Most neophytes are often surprised when some Internet users assert that the creation of a site, or blog, can generate income (sometimes very significant).

A question then naturally arises: why choose a niche market when looking to create a profitable business? Let’s see the undeniable advantages of a good niche strategy.

Niche market: a reduced competitive environment

As you read earlier in this guide, the internet is made up of several billion websites and blogs. Among these, large groups far dominate the competition. To explain this, we could cite two main reasons:

The popularity of an address. Thanks to a web address that is significantly publicized, or quite simply naturally known by all Internet users, prospects no longer go through a search engine and type the URL directly into its navigation bar.

The means used. Whether it is in the technical field, a formidable marketing strategy, or quite simply financial means incomparable with those of the competition, these web giants easily keep a leading position in the market. These websites are, for example, Amazon, Priceminister, Thomann, etc.

One of the advantages of the niche market is that the number of players on the supply side is small, thus allowing you to be present in a market with a relatively uncompetitive structure.

More qualified prospects in niche markets

A niche market may seem a little paradoxical. Indeed, although specialization can keep you away from potential prospects, those who will be interested in your niche site will be much more interesting.

Why that? Because by choosing a niche market, you will be specialized in a specific field, which will interest a well-defined target of customers. You will therefore have a larger number of qualified prospects. 

PS: a qualified prospect is a prospect who already has a great interest in your niche market or niche product, allowing you to improve your conversion rate (turn the prospect into a customer) more easily.

Faster profitability

The main reason so many people get into building niche sites is that they pay for themselves much faster than non-specialized sites.

The fact of being in a niche allows you to decrease the competition, and therefore, to develop the profitability of your site more quickly AND more simply.

Why is it faster and easier?

Reduced backlinking work: lower competition allows you to improve the site’s position faster

Reduced semantic field: you do not need to work on a lot of keywords, these are almost all part of the same semantic field.

Higher margins: especially true for e-commerce targeting trendy products that have not yet become popular.

Higher conversion rate: if your niche site deals with the target theme from all angles, you will quickly become a specialist in your field, thus facilitating sales.

Loyalty

Niche sites retain loyalty much more easily, at least if they are of quality. Indeed, let’s take our example of the 2CV, if you are an unconditional fan of this car, and a site offers you all the guides and information on it, it is a safe bet that you will come back regularly, that you open the emails sent by this site and (I have saved the best for the end ) that you will recommend this site very easily, to your friends, on your social networks, blogs, and websites.

how to find the right niche market?

Find the right niche market

Analyze your project well

Before setting out to conquer a successful niche market, it is essential to know how to analyze your project perfectly. To do this, ask yourself these questions directly:

What kind of goals are set for me?

Depending on your technical and financial means, it is imperative to organize yourself in your project to remain rational. However, nothing will stop you from reaching new heights with patience and determination.

Which theme can suit my expectations?

If you wish to remain independent and not to outsource (use the services of providers of all kinds), it will be necessary to select a sales area accessible to your knowledge (or even directly linked to one of your passions).

Is the niche market under the influence of a fad?

Although some niche markets may seem very interesting, it is important to see your project over time. Thus, avoid areas that are often linked to a temporary fad (unless you agree to ephemeral e-commerce).

Market research

Identify a carrier segment

I generally retain three elements to analyze a niche:

  • The number of searches on the main keywords related to this niche market
  • The monetization opportunities of this niche
  • The trend

Simply put, you don’t want to build a niche site if your niche is trending down or not holding up.

Let’s take a concrete case: the 2CV

Software used to analyze the trend of this niche: Google Trends

We can see that for this theme, interest is very high, but is also quite stable. This niche market could therefore be very interesting.

2cv google trends

The main keywords related to this niche market

We have isolated a market that has a stable trend and which interests Internet users, it remains to evaluate the keywords related to this niche theme.

Software used to analyze the keywords of this niche: wordtracker

We notice here that the competition on some of these related keywords is quite low AND that there are a lot of monthly searches, which is very interesting when you want to monetize your niche blog (and we all want it ).

keywords for niche market: wordtractor 2cv

The monetization of this niche market

Again, before you embark on setting up a niche market project, consider doing a rational and objective analysis of potential customers.

“Are they passionate about this area? Are they prepared to spend large sums to acquire these products? Regarding current events … Is it conducive to the popularization of this field? “

To answer these questions, find out, for example, about the main social networks or analyze the messages of the main influencers.

Or, why not go directly through an online survey? Take advantage of all the possibilities and ensure the success of your online site or your commercial niche!

To summarize, we have a stable trend, a high interest in this topic, a lot of monthly research, and a fairly low level of competition. Nevertheless, an important issue that should not be forgotten is the monetization of your niche site.

In the case of the 2CV, monetization will certainly focus on:

  • Sale of advertising space
  • Selling sponsored articles
  • Sale of spare parts

One could imagine other possibilities for monetization, but these examples are sufficient to support our case study.

Monetization must be thought of  before designing your site, simply to know if the income you can expect will be interesting, or even scalable (commission, partnership …)

You should also know that the more your niche site grows and is known, the easier it will be to negotiate interesting partnerships.

SEO for your niche site

SEO optimization (Article on my blog: Website SEO Step by Step)is a web marketing technique aimed at improving the ranking of a web address, to stand out from the competition and obtain a maximum number of visits.

The place of SEO for your niche market

Considered the first factor in the success of a web project, SEO optimization is a constantly evolving web marketing technique.

It is in particular by optimizing your site that you will be able to develop the number of visits, and, as a result, your specialist image (which will also allow you to increase your conversion rates)

Let’s take the case of the 2CV 

When site is done, I have different guides and articles and partnerships to sell spare parts. But how do I make money if no one comes to my site? It is at this time that we will set up various SEO optimizations (Article on my blog: Best tips for improving on page SEO in 2020), to make known this niche site.

Some people are just starting to think that just writing articles is enough and that it will automatically bring in organic traffic. The “SEO optimization” step does not stop there.

Indeed, it will always be necessary to find the best keywords related to the type of products you are selling, and to combine these with all the other optimizations (keywords, different headings, content strategy, semantic cocoon, add internal or external links, backlink…).

It’s up to you to ensure this step as it should. Without this SEO optimization, your website could very quickly be forgotten. Thus, natural referencing will remain, as in any project on the web, a key factor to hope for success in your field.

Niche e-commerce site

Even if the evolution of e-commerce is less and less marked, it continues to progress. Every day, new sites appear and others close their doors. However, one thing is certain, the craze for the niche site in e-commerce, via drop shipping, continues to grow.

The best marketers will have perfectly understood that the niche site in e-commerce can be extremely profitable. Many software like Shopify surf on the effect of simplicity in creating a niche site in e-commerce, especially via plugins like Oberlo, specific to drop shipping.

The big difference between an e-commerce niche site and a niche blog will mainly be the branding. While e-commerce will generally seek to have a very professional and impersonal image, the blogger will seek dialogue and sharing, which will create a very interesting climate of proximity.

No matter what business model you target, your choice should be, as always, geared towards your objectives and your available means.

If you choose to set up your project based on a niche market, this proximity can prove very quickly fruitful and allow you to build yourself, in a few weeks, consequent popularity.

A visual adapted to attract more prospects in a niche market

How to talk about internet pages without talking about the visual aspect of these? Again, just choosing the right niche market won’t be the only decisive factor in your success. To attract and convince your prospects, it will also be necessary to offer an attractive virtual showcase using:

Dominant colors and styles were congruent with your niche market. The choice of bright colors will almost always be essential to brighten up your pages and capture the eyes of your visitors.

Of course, if these are flagship products of buyers in the Gothic style, for example, the graphic charter of your project will have to be adapted accordingly.

Clear and precise descriptions of the products. Be a good salesperson and use terms and expressions used by professionals. You are also free, with the aim of a profitable blog, to bring a particular style to your writing, to always convince your potential customers.

Attractive product images. In an online purchase principle, never forget that your images, accompanying the description of the products, will be the main asset to conclude a sale. So think about doing everything to offer attractive and rewarding visuals for your articles.

No matter what niche market you might target, the key to building an optimal storefront will be an adaptation to the targeted Internet users.

By fully respecting the elements mentioned above, while marrying a strategically chosen niche market, your chances of success will be greater and will allow you to quickly earn money on the Internet.

attract more prospects in a niche market

Trend niche markets

Did you know that there are also services used to find the trendy products of the moment? These, well known to web marketers, are very interesting tools for targeting new niche markets. Are you interested? Go directly to official sites such as Trend Hunter, Springwise, or Trend Watching.

Keep in mind, however, that the majority of these niche markets are too often ephemeral, but will allow you to achieve interesting goals in record time, which can be interesting for a niche product with high potential.

Market research, business plan, domain name, economic model… launching a niche site is a good way to generate passive income, but first of all, you have to find a good idea for a site.

It is then important to ensure that the chosen niche market offers good potential for commercial development thus yielding traffic. So let’s see some ideas to help you build your website.

Weight loss

This website idea is very popular. It is an example of the so-called “ evergreen ” niches. This means that demand in this niche is continuous and is not affected by fashion or seasonality.

You can for example create a blog offering tips to lose weight. Once you have significant traffic, you can monetize your blog with AdSense or by renting ad space directly to advertisers. 

Real estate

Real estate is the preferred investment of 70% of people all of the world! It is a very profitable niche market which (almost) never experiences a crisis.

The ideal is to choose an idea for a website relating to rental investment, such for example rental for students, vacation rental, rental for seniors… etc.

You can then create a professional blog offering practical advice, an advertisement site, or linking between professionals and individuals. 

Working from home & Digital Marketing

You don’t need to be a seasoned expert to see that the world of work has undergone radical changes since the advent of the Internet. Apart from a few rare exceptions, it is now possible to exercise professional activities partially or entirely remotely.

What was a dream several years before has become a reality thanks to digital technologies. Making a blog with the niche market of working from home (or teleworking) is, therefore, a good idea for a website. You can talk about online work platforms and give tips for success in each trade.

Marriage

The number of engaged and newlyweds seeking information on the Internet is quite impressive. There are quite a few writing subjects: How to prepare a wedding? Where to spend wedding celebrations? What is the most suitable destination for a honeymoon? etc. 

Personal development

This is another ‘ evergreen ‘ website idea that is characterized by continued demand. Indeed, who does not need to develop their mental capacities to feel better, flourish, and boost their productivity?

Moreover, personal development books are among the most sold on Amazon or other specialized platforms.

Crypto Monnaies & business idea

Since the launch of Bitcoin in 2009, the cryptocurrency market has remained to grow. Many people around the world are looking for information on new digital currencies every day. This is the opportunity to make a blog that deals with this niche market.

Beauty & bloggers

The beauty products market has always been buoyant. It is expected to reach $ 430 billion in sales by this year.

The success of the beauty product industry is primarily driven by a primary need to feel good and look good. Because this niche is very competitive, it is advisable to specialize in a micro-niche with little competition.

For example, consider creating an online store or a niche website with the niche market for organic beauty products, beauty, and personal care products for men … etc.

Passive income

There will always be people who seek to generate passive income to become annuitants. Granted, it is not the easiest niche, but the market is huge and offers good opportunities. It will then be necessary to work on the natural referencing of your website to attract traffic.

Upscale gastronomy

Upscale gastronomy is a booming market. Indeed, more and more consumers want to live new experiences instead of buying food products. Local products and organic wines are perfect examples of this new trend which is constantly evolving.

Electric cars

In recent years, the purchasing habits of motorists have changed a lot. Certainly, more and more of them neglect Diesel and opt for electric vehicles.

Besides Tesla, which is currently the pioneer of this technology, almost all manufacturers plan to launch new 100% electric models by 2020.

Pets

Admittedly, it is a classic niche, but it still presents many opportunities.

For example, you can create an e-commerce site and dropshipping accessories for dogs or cats via the Shopify platform. You can also create a blog on the subject of dog training, for example, or hamster nutrition.  

Travel

Just several years ago, online travel purchases accounted for sales of $ 565 billion. This figure is expected to reach $ 756 billion in 2019.

Pessimists will tell you that this travel website idea is saturated, but the numbers confirm that it is a market with great potential.

Indeed, you can always find new ideas to work on micro-niches, such as hotel comparators, ecotourism, travel guides … etc.

Health

The health and wellness industries represent a market with great potential. It’s a great niche market for blogging or building a business site. Essential oils, food supplements, alternative medicine… the micro-niches are almost limitless.

E-learning

E-learning, or online learning, is a form of learning that relies on web and multimedia tools.

The global turnover of this business could reach 324 billion dollars by 2025. Ideas for creating a blog or a website are also legion: guitar lessons, web marketing, Photoshop tutorials, online training, internet marketing … Etc.

Fashion

Fashion has great potential to create a niche blog (fashion blog) or sell online. Niche markets like clothing for overweight people or people with short stature are probably less saturated than others. 

High Tech Products 

Augmented reality, virtual reality, smartphones, smartwatches, drones… high Tech products are extremely diverse. There are also many possibilities to work in this niche market: dropshipping, buying guide blog, affiliation, etc.

Survival material and equipment 

In modern years, survival accessories have become quite popular. You can build a blog dealing with the issue of survival and Bushcraft (the art of living in the woods).

If you are planning to create a merchant website, then this is a good niche for dropshipping from platforms like AliExpress or Banggood for example. 

Photography 

If you are passionate about photography then this is a website idea that can make you money. Surely, building a blog or a photographer site does not require particular technical skills. You can then monetize your site with AdSense or sell photography props through an affiliate.

Handmade products

The handmade and DIY ( Do it Yourself ) encompasses many crafts like knitting, jewelry making, and art … etc.

It’s a booming website idea, especially since the launch of the major eCommerce platforms (Etsy, Amazon, AliExpress, eBay). If you now master a craft skill, then you can build a blog giving tips or video tutorials. 

Personal finance

Like how to manage your money well? What’s the best ways to save money? How to invest well and declare your taxes? How to prepare well for retirement? What should people do to achieve financial independence? … etc.

These are questions everyone is looking for answers too! With a well-defined editorial line and relevant content, your blog could quickly attract visitors and generate passive income through AdSense, training, or affiliate.

Campground

The niche market of camping offers many possibilities for creating websites. For example, you can create a blog with tips and advice on best-camping destinations and activities to do. You can also set up an e-commerce store to sell camping equipment.

Stress games

Numerous scientific studies show that games can reduce stress levels. Making a blog of anti-stress games then represents a solution to a major problem which is stress. Besides, it is a means of entertainment that could well interest many Internet users.

Martial arts

Blogs for learning martial arts are all the rage today. Indeed, many Internet users seek information on the web about self-defense and martial arts. There are so many disciplines that you are spoiled for choice: Muay Thai, Brazilian Jiu-Jitsu, Judo, Krav Maga, Aikido, Karate, Taekwondo… etc. 

Pregnancy and maternity

Pregnancy is a pretty unique time in a woman’s life. It also poses many constraints in terms of food, sleep, physical activities, etc. A well-structured blog offering practical advice for expectant mothers has every chance of success.

Entrepreneurship

More and more youthful people desire to get into entrepreneurship. Most of them are looking for basic information on the economic, legal, and social aspects of starting a business.

Video games

According to the Syndicate of Leisure Software Editors (SELL), the video game market is estimated at 4.3 billion dollars. The sale of PC gaming and game consoles generated 1.7 billion euros in 2017. For the same year, the business of PC and mobile games totaled a turnover of 2.6 billion dollars.

Besides, with a growth rate of 18%, it is surely a market that offers great potential for development.

Activities for children

All parents would like to discover ways to occupy their children. You can then create a website offering educational activities, coloring, crafts, and games designed exclusively for children.

Sporting goods

According to a study by “Capital Partners”, the sporting goods distribution market is growing by 5% annually. This annual growth rate should be maintained at least until the year 2021.

The economic situation is therefore very favorable for launching into the sporting goods trade, in particular for niche sports such as surfing, basketball, snowboarding. badminton, combat sports… etc. 

Home decoration

Interior decoration has become the favorite hobby for many people. Indeed, everyone wants to discover new decorating ideas.

Hence the interest in launching a blog specializing in interior decoration. As the blog grows, you can earn money by offering sponsored posts or performing product testing.

Fishing

The favorite pastime for some, profession for others. Fishing is definitely a great passion that enables you to have a good time and meet different people.

It is also an interesting website idea which offers many opportunities: blog, merchant site, affiliate… etc.

Conclusion

The niche market of ​​a website is an important factor to consider before starting a blog or a merchant site.

Overall, there are 4 principal ways to make money with a niche site: affiliate, direct selling, dropshipping, advertising.

You can therefore adapt your marketing strategy according to your objectives.

Niche market ideas

Finally, before I finish this guide to niche markets, it’s important to mention social media. Social networks are essential to promote a niche strategy.

So stay on top of them and stay tuned to the different interactions you will meet with Internet users; these can help you double your turnover and make your projects a reality.

Make money legally with an niche market

It is essential to remember one of the most important aspects before finishing this guide: the respect of the legality in a project of a niche site.

Whether you own a site, blog, an application, or even an internet service provider, it will be essential to declare your income from the first penny received.

To do this, creating a business as a micro-enterprise (status recommended to start as a freelance) will only take you a few minutes from the official website.

After having formalized your start of the activity, you can start setting up your project with confidence.

Although this information may seem obvious, it is always good to remember that undeclared or undeclared work can be severely punished by law and purely prohibit you from practicing as an entrepreneur.

Nowadays, and in the face of huge competition from web giants, creating a blog or website by selecting a niche market will allow you to find a place in the market.

By following the method proposed in this guide, you will not belong in developing your popularity, as well as optimizing your income. It’s your turn!

Which niche market will you enter? Please share your thoughts, suggestions and questions in the comments below.

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