There is a business and coinciding website for everything nowadays. In a sea of health products and clothing lines, it can be tough to understand how to find a good niche that stands out. It’s virtually impossible to create a “new” niche in 2017. But, once you know how to combine your interests and authority with the interests of your readers, you can then work on standing out among your competition by putting a unique spin on your business and website.
Finding the perfect niche isn’t as tedious as it seems. A few tips and tricks can get you working within a niche that’s interesting and profitable, while providing value to your audience.
Identifying Your Interests and Strengths
When it comes to learning how to find a niche market, the answers start with you. Creating a special product, service, or business that’s directed toward a very specific audience will only be successful if you love what you’re doing and selling. So, step number one is to narrow down your interests and strengths to create something unique that you can market with a passion.
The most important thing to remember is that you also want some authority in your industry.
Your audience will be more inclined to purchase your product or service if they know you have experience with what you sell and do. Have you had special training? What degree(s) do you have? You can even leverage your past work experience to connect yourself further to an industry you’re interested in.
For example, you want to learn how to find a niche within the automotive industry because you have an extreme interest in classic cars. Maybe you’ve never had experience in car repair, but you’ve had previous work experience as a loan officer. You have established authority in the loan industry, which, in the auto industry, may translate to a business that issues auto loans for people who want to invest in classic cars.
How to Find a Good Niche Market Your Audience Will Love
Of course, business is about much more than you and your interests. You also need to know how to find niches that the right audience will be drawn to. In other words, your niche needs to be marketable and have a large enough potential audience to bring in new customers and keep repeat customers coming back.
You can do this by conducting market research. Basically, you’ll learn how to find a niche that works for you and your audience by researching the competition. Search for other businesses in the niche you’re considering. Follow their business trends and get an idea of their audience size and engagement on social media. If those businesses seem to be doing well, then there’s room for you to do the same with good marketing.
If you have a unique niche, you may not find similar businesses; that’s a good thing because it gives you some room to make a name for yourself with little competition. But, market research can become tricky. Social media is your friend in this case. Leverage your current audience on LinkedIn, Twitter, Facebook, or your blog to gauge potential interest by asking questions or conducting polls.
Then, Make It Better Than Your Competition’s
You’ll have competition in any niche, even if it’s very specific, because you’ll essentially compete with the top dogs who has authority in your industry. You can still ensure that you stand apart from your competitors by making your product, service, or website better than the rest. This means one-upping your competition in things like:
- Audience engagement
- Customer service
- Helpfulness of product or service
- Pulling in large clients
- Repeat customers
How can you do that? By researching your competition’s strengths and weaknesses.
A competitor’s weakness is something you should focus on making your strength. Does a competitor have low social network engagement? Swoop in to create an incredible social media strategy that gets you re-tweeted, liked, and shared more than others in your industry.
What is the competitor crushing its competition in? Does it excel in marketing through blog and television advertisements? If so, that’s where you need to put your focus. Team up with a winning marketer to find out what you could be doing better.
How to Find Niche Keywords
It’s never been as important to have a website for your business as it is today, which gives you even more to consider when you want to learn how to find a good niche. Your niche should have plenty of opportunities to target an audience using keywords.
The right keywords can bring potential customers to your site as they search for terms related to your niche. You can use helpful keyword tools like LongTailPro to search for keywords related to your niche. Are there plenty of short and long phrases that have a high search volume?
If so, that’s a good indicator that you can create plenty of content for your business website that can be helpful to your audience. Then, it’s up to you (or a marketing strategist) to create a content strategy that keeps pulling people in and making them return. Google even gives preference to engaging, informative, long-form content by highlighting them in search results.
Is Your Niche Profitable?
The point of learning how to find a good niche market is so you can profit, right? Therefore, your niche must be profitable. And yes, it’s possible to have a profitable niche that also is one you’re passionate about. By combining pieces of the above strategies, you can find out if your niche is profitable.
Tying everything back to market research, what do the business trends of your competitors suggest? If they’re profiting, you can profit too. When you research keywords for your niche, do you find plenty with high search volume and low competition? If so, you may have found yourself a winning niche in terms of profitability.
Conclusion: How to Find a Niche
Essentially, finding a good niche to settle into relies on market, competitor, and keyword research. Your interests and experience should be at the forefront of your niche choice, but learning how to find niche ideas that can work well in your chosen industry is the key to excelling in your business. A keyword tool, like LongTailPro, can help give you an idea of the type of content that you can create, the level of competition, and the profitability of your niche.