Have you been struggling to be profitable in your current niche…or maybe you’re just starting out and can’t decide where exactly to carve out your spot in this wide web? Follow these steps to define your perfect niche and guarantee you are in the prime spot to succeed.
Step 1. Define Your Top 1 or 2 Markets
You probably already have this in mind. This is defined as a broader market area such as Weight Loss. Choosing a market you familiar with will make the rest of the process mush easier (but isn’t necessarily required). Just be careful to make sure there is money in your area of interest. For example: If you’re thinking of marketing bathing suits in Antarctica… probably gonna struggle… Also don’t go too narrow just yet. Beginning with “Yellow bathing suits with flowers and palm trees for men over 60” also likely won’t find an audience. Keep it simple for now. We’ll narrow it down as we go.
Step 2. Confirm The Demand
This is a highly important if you want to define your perfect niche! The last thing you want to do is spend loads of your personal time and money pouring into a business model that is guaranteed to fail. It’s good to have a passion, but is there a market already in place for this passion? (Don’t be afraid to alter your target niche a little if you have to). We want to be in a market where we can make money early (and often!).
To find this out, lets head over to Buzzsumo (free to use)
We will start with a broad term. I’ll use weight loss just for general terms. Now take a look at what I have circled in yellow (don’t judge my circles! I’m not an artist lol). I have searched for “weight loss” (just use the main search bar). On the lower right you will see the number of “results”. This is your competition! You can see that “weight loss” has over 136,000 results for this one keyword. That’s going to be a very tough market to break into! Below that you will see the number of social media engagements for the top page in this category. (587,000 engagements on social media for this one site! There is definitely a demand in this market!)
Step 3. Tighten Your Target
For this we will stay at buzzsumo. As we see above, weight loss is likely too large and saturated of a market. We want a tighter, more targeted niche (“there’s riches in the niches”). I’m going to tighten the target a little bit. Let’s start with filtering down to “weight loss tips” and see what we get: (p.s.-if you need help with how to narrow your niche, see step 4)
We can clearly see here that the competition has drastically decreased just by simply adding the word “tips” to our niche. We now have 10,000 results (versus 136,000) for competition with the top page having over 84,000 engagements on social media. While we have gotten less competition …10,000 is still pretty high. Not only would we likely be competing against some very established brands, we would also still be quite generic (weight loss tips could go a billion ways) . We’d have to get a pretty large brand name established to ever make a dent in this niche. Sooo…let’s go one deeper.
This time I’m narrowing to Weight Loss Tips For Men:
We can clearly see here that by further segmenting our niche to “tips for men”, we have drastically reduced our competition. We can see that the top sites here are still pulling in traffic. Now we just need to confirm that there is money in this new targeted niche. We will tackle this in step 4.
Step 4. Confirm the $$Money$$ Trail
We’ve got our niche now narrowed down to where we think we can fit in this best and make profits early on. Now we are going to confirm that there is money being spent in advertising in this niche. We know that if others are spending money to get traffic for this niche, there is money to be made!
Lets now head over to Ubersuggest. I’ll start by typing in our niche we defined one level above ours…weight loss tips. (Tip: this step can also be used to assist you in ideas for defining your targeted niche in step 3)
We can see here a few things.
- Our targeted niche has good volume confirming what we found in step 3.
- There is good money being spent on advertising. $3.27 cost per click is actually pretty high. (If you plan on PPC ads as your traffic source, this part is important! You may want to find a niche with lower CPC or find different marketing techniques such as solo ads)
- One level up at “weight loss tips” is proving to be a lot of competition (over $4.00 a click!)
So now we’ve narrowed our target niche, confirmed it has demand, traffic and that we can make money. Now to find our spot!
Step 5. Fill In the Gaps
For our best chance at success, we want to provide something valuable and needed to the market. In every niche there is likely a gap in what is available. What we want to look for is unsolved problems. I start this by defining my avatar (perfect customer) ( more detail on avatars HERE ). Once I have this, I will know what problems and setbacks my P.C. is struggling with. Next I will search through the competitions pages and see which of these issues either (1) isn’t being addressed or (2) needs more clarification. When I have found this answer, I have found my niche! (tip: buzzsumo already lists the competition for you 😉 ) Hooray! Now you can get started building your empire!
The next step is to start creating valuable content to solve these problems. It’s always best to be authentic and straight forward. If you’re target audience gets the impression that you are just here to make money….they’ll lose trust and interest in you….and then you won’t have traffic in any niche!
So be true to yourself and build relationships with your audience, all while giving them quality content that solves their problems. Do this combined with the above and you’ll be on your way to long term success!
(p.s. Ready to start your marketing campaign? Go HERE now!)