What is a niche market?

What is a niche market?

Niche marketing on the internet is without a doubt the easiest way to understand exactly what a specific market wants, get ranked for niche long tailed keyword phrases and often converts higher than any market saturated with competition.

But the challenge is, as I work with many clients, it seems what many think a niche market is, is in fact not niche at all on the internet.

So the question we must answer before beginning our search is: What is a niche market for purposes of selling online?

Firstly, a niche market is much smaller than many think.

  • If the market is familiar to almost anyone, it is too large and most likely saturated.
  • If it is a very strange and peculiar interest that is adopted by, say a few thousand people in your area then you could be on to something.
  • It really needs to be small enough to fly under the radar screen of companies deeming it unprofitable to create products for that market.

Secondly, a niche market should be severe to be successful. One of the main things you need to ask yourself about the niche market is:

  • Are those involved in this niche hobby extremely passionate and loyal to the niche?
  • Are those involved in this niche desperate to have EVERYTHING related to it?
  • Are those suffering from a niche condition willing to pay for something in the form of sound advice that will help them recover?

If your niche answers yes to the above then it will be very easy to rank for it and will get a great social media following if you come up with a great product or service to offer them.

If physical products are your choice to sell online, then a niche market for selling products is usually a small gap in between larger markets. Products that can make mainstream products easier to use. Some examples of very successful clients selling products in excellent niche markets are:

  • Selling trampoline parts for trampolines. Believe it or not, trampoline parts are being searched for online more than the trampolines themselves.
  • Selling unique doll clothes for popular dolls. Sure you can buy dolls online from hundreds of thousands of online retailers, but what about cool outfits for them. Tennis outfits, special occasion dresses, you name it they will buy it.

You see, whatever product becomes a huge hit, usually trails thousands of internet searches for accessories or instructions or products that help make better use of that product, and that is where you want to focus.

So really we should be calling this micro niche marketing. I usually tell people to come up with 5 things they think is niche, then try to identify two sub refined areas within each of the five and start your keyword research journey from there.

For those that prefer numbers to understand what a niche market is, here is my formula:

Search volume:

must have at least 10,000 accumulative searches per month for 3 or 4 word long tailed phrases and must have a ceiling no less than 100,000 searches for core phrases (2-3 word phrases)

Competition:

for phrases with roughly 1,000 to 10,000 searches per month, you do not want more than 500,000 competing sites in google when you type the following into Google:

use intitle: to search for competitors

 

 

Using the [intitle:] operator directly before your keyword phrase shows your real competition that you are up against. Pretty much if a site does not have the keyword phrase in its title tag, you can easily get ranked above them.

If you find this interesting and would like me to break it down into real easy to understand terms, why not get in touch. Together we can find the perfect niche market for you, that is in fact a viable and profitable niche!

 

 

Written by Mark Stoffels

Mark Stoffels is an accomplished internet marketing coach and entrepreneur with more than 10 years teaching hundreds of people how to become successful by creating automated online businesses. With his own niche sites reaching millions of organic visitors, Mark practices what he preaches.

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