So, what’s a niche market, this is the question this article will set out to define. First, I believe it will be important for us to understand the definition of “Niche”, if we are to reach our destination. The Google definition as spelled out in the quote below suggest a niche is products, services, or interest which appeal to a small section of population. Thus, to answer the question, what’s a niche market? It is a very small group of people interested in a very narrow targeted topic of information or products.
NICHE: An Adjective
“denoting or relating to products, services, or interests that appeal to a small, specialized section of the population.” — Google
What would “a very narrow targeted group” look like? This is a great question! Here’s a few examples:
Weight loss > Pills > for women = Weight loss pill for women | Est. Traffic = 150 Monthly
Weight loss > for women > over 50 = Weight loss for women over 50 | Est. Traffic = 819 Monthly
Weight loss > tips > for women = Weight loss tips for women | Est. Traffic = 3600 Monthly
Weight loss > tips > for menopause = Weight loss tips for menopause | Est. Traffic = 90 Monthly
So, the next question you need to ask yourself is…
What’s A Niche Market Look Like?
If, I labor to rank for this phrase will it be profitable? You’re probably wondering how you’ll determine the answer, right? First, you need to understand there are several factors to consider. First question, you’ll want to know, would be the number of times your niche phrase is being punched into search engines monthly? You’ll need this to be a minimum of 1000 searches each month.
Second question, you need to answer is my niche search phrase a buyer’s phrase? You will do this by asking the following questions about your phrase. Is there pain or a major issue attached to the phrase? (Example, “Heel pain when running”)
How else can we determine intent to buy? Ask this question about your niche phrase. Is this a research or information gathering term of inquiry? If it is, then your prospect is looking for a solution to a pain or problem. This usually means buyer!
Another way to determine intent to buy is a comparison or narrowing search phrase. For example, this inquiry is point to intent to buy “weight loss vs fat loss programs”!
Finally, great niche buyer terms are risk reduction or buying terms like, “Best prices on fat loss programs”.
So, does your niche term have intent to purchase? If not, you may want to do more research and qualifying until you find a niche term meeting this vital requirement.
Here is the last thing you will need ask yourself concerning your niche search phrase. What does the competition look like? There are a lot of tools that can help you here. Just to name a few you might consider “Market Samurai” or “Jaaxy” both are good tools to accomplish this goal. What you’ll be looking for is the number of websites who have your keyword phrase as their focus keyword phrase. The fewer competitors the better, right?
Finally, if your phrase meets all the afore mentioned criteria then you have determined what’s a niche market! However, there are other questions you may want to ask, like can I enjoy being a part of this niche. You’ll want to participate in markets that excite you. They need be niches which are consuming and rivetingly interesting to you.
Once you understand what’s a niche market for you, you’ll what to set up a niche website. This is what I’ll speak to in my next blog post!