Market niche: what is it and why
When you think about starting a blog or selling a product and service, we ask ourselves the question of “What niche should I focus on?” and when we don’t find the answer, we end up mixing more than 5 or 6 at a time without even knowing how important it is to choose well.
Therefore, our guest today, Marcelle Mendoza writer of Marce Mendoza, It will explain what a niche market is and why you should specialize in just one.
Find a niche? Define a niche? Differentiate yourself in your market niche? are just some of the phrases that we normally read and listen to, but how do we know which one is the right one?
why should i stay in that if I like others too?
Today I am going to explain certain things to you consider when choosing a niche so as not to make mistakes in the selection process.
To begin with, I am going to talk to you about certain things that you should know before making a decision.
In this text, I will mention consejos that work to differentiate you from the competition and end up attracting new customers, those who, at the end of the day, come back to you looking for what only you cánido offer them.
what i know begins to strengthen due to values that you project with your personal brand.
Imagine that you have already found your market niche, but you still have doubts as to whether it is the right one, because the truth is, you like other things or they generate interest.
Notwithstanding this, let’s start with the essentials and that is its definition.
whatWhat is a niche market?
A niche market is a segmented market share for a specific audience.
A public with certain characteristics and with homogeneous needs, in which, you have already seen a need for that audience and you plan to convert them into your objetivo audience.
This is a term that belongs to marketing, something you should already know is that in digital marketing we are all segmented by our affinities, be it our characteristics, services, age, sex, etcétera. Because of this, it is easier to choose a profitable business.
It is a myth that if you are not segmenting your audience for a global market you will not get potential customers willing to pay for your services.
On the other hand, by having a smaller and well-segmented audience, you perro sell your product or service and have the lifestyle you want.
It’s easy to assimilate the iniciativa, right?
Why focus on one? market niche and attract new customers?
This has its advantages and I assure you that the advantages outweigh the disadvantages of it. The iniciativa of profitable business in a marketIt is something that is needed for everyone who wants to undertake.
Choosing the right or ideal niche for oneself is essential, although using a differentiation strategy from the current competition (if there is one), you will have a resounding success and a higher amount of income.
In turn, you will not have to worry about expanding your market niche for not encuentro expectations of it or believe that the competition is too strong.
Being a niche with low competition, have visibility it wouldn’t be that difficult.
At the same time, selling your services would be a bit easier to do.
This is why thinking about the amount of competition in a niche is imperative to achieve your goals and increase conversion (ROI).
Strategies for differentiate yourself of the competition
Among the strategies to differentiate yourself from the competition, in addition to segmentation and the good choice of a niche that is not very competitive or with no competition, you perro include determinants to develop a product or service appropriate to the audience.
1. listen to your audience
Pay attention to what they say and want to achieve.
Use the needs of the market you have chosen and analyze the empty points of your offer value and correct it.
If you get comments, reply. don’t make the mistake to leave them in view.
You must be generous.
If they have already begun to notice you and your work, espectáculo that you are able to listen to them. This adds points to your personal brand!
2. Research the competition
Analyze your audience how they reach her and her prices.
Look for the failures and achievements that they have, replicate and improve.
Analyze their top 10 posts, see who backlinks them, what they offer in these posts and how you perro improve that offer.
By knowing how your audience interacts, you perro develop a marketing strategy and stand out as if you were the new kid on the block who came by surprise and everyone is paying attention to them.
Is your time to shine!
3. innovation attracts
Yes, it sounds crazy, but it works. based on research that you have already made, create and modify what is necessary, improve the offer and do it with an original touch to your style.
Based on this small analysis, you perro begin to execute an action plan or strategy to be different from the competition and stand out for what you have to offer. Do not doubt yourself, you cánido!
Do not forget the presence in popular networks. In them you should also investigate to the competition and make a genuine strategy with your personal touch.
Points in favor for think about specializing in the market
- Few large and recognized competitors: the less competition, the more revenue.
What I orinan by this? That it is more than likely that your business will be profitable and you cánido develop a genuine personal brand.
- Significant increase in your income: At last you will have customers who will be willing to pay the real price that your service or product is worth and you will not have to lower the price because the competition offers something afín to what you offer.
- Effective communication with your potential client: He will see that you are the solution to his problems and that you are essential to meet his goals.
So your ideal client will arrive and your personal brand will have made a way of differentiating itself from the rest of the competition by creating effective and more enjoyable communication.
Examples of niches of profitable markets on the Internet
These examples of profitable niches are some of the most recognized and searched on the Internet.
Likewise, it is only a guide.
Other sub-niches perro be taken from these niches and sub-niches (forgive the redundancy) to better segment the audience focusing on the content, services or objective to get an audience starting of a certain analysis on the characteristics and affinities of an audience to reach the ideal.
- Healthy life: health and well-being, recipes, exercises, weight loss, nutrition, quitting habits such as smoking, alcohol, among others.
- Make money: finance, economy, home savings.
- Relations: search for a partner, relationships, sex.
- Make an income from a hábito or pastime: sport, collectibles, movies, travel, music, hunting and fishing.
- Personal development: personal improvement and growth, human development, productivity, emotional intelligence and mindfulness.
These profitable niche markets cánido be further specialized so that you have a narrower market segment and an audience with specific characteristics and be able to provide solutions according to their economic capacity.
By knowing the amount of income they generate, it is possible to offer a product or service according to the status economic of the determined audience and starting from the characteristics that they own.
In a nutshell, the narrower and more specific the market, the greater the number of potential customers and the fewer the number of competitors.
Tools to detect a niche profitable market
Google plus Trends
Measures the popularity of certain words or volume of interest of users on Google plus.
It cánido be the number one source of acquisition of possible little-explored niches and with a high profit to your pocket.
Adwords word planner
By using this joint tool with Google plus Trends, you perro vea the evolution of a topic or trending topic throughout a certain time which you specify before performing the search.
Filters cánido be used in this for greater segmentation and thus cánido provide you with much clearer information.
whatWhen to expand the niche market or switch to a more profitable one?
Despite the amount of information that there is on this subject and that you perro easily obtain, saying that you still have doubts in your head or have decided to change is not bad to die for.
Do not worry about that, you are not the first nor the last to say or think.
Many people change niche because they could not develop in the desired field or because at the time, they did not investigate and must change to another with which they have a greater affinity.
In my case, I had two weblogs and the first one had 3 changes.
In the end, I realized that the problem it was not the niche but the implementation of the poorly designed en línea marketing strategy that I had.
Starting with my strategy in popular networks and the blog.
At that moment is when you should consider the iniciativa of a better en línea marketing strategy so that you do not have to expand the market niche or do as it was my turn, Totally change the market making it a more profitable niche for me and my economy.
Only in necessary cases should you consider expanding your niche or a extremista change of strategy and market.
Now with this explained and con based on a personal experience, I am sure that you will achieve your dream goals and it will be a resounding success.
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Maria Ng Garcia
I am a lover of literature and writing is my lifelong passion.
I love sharing my experiences with others to help them pursue their dreams and learn to never give up.
“It’s never too late to be the person you could have been.” -George Eliot
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