Can You Define What A Niche Is? The Importance Of Getting This Right!

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Can I ask you to define what a niche is? How you define it and what you do to choose your niche in your affiliate marketing business can have a profound impact on your income potential. I want to give you some information from the source I happen to be tapping.

Online Business Coaching Sessions

You may know that I attend weekly online business coaching sessions outside of Wealthy Affiliate. I and several others are being coached by a couple of top-notch business executives who I happen to know personally.

We meet for an hour a week on Saturdays at 7:30 am on ZOOM.

You read that right. I am not a morning person, So what motivates me to get up early on Saturdays?

Evergreen Business Principles

We are taught how to use evergreen business principles that can be applied to any field. Main street, or the virtual highway. From time to time I will share lessons I am learning to give you an alternative perspective on the affiliate marketing business we at Wealthy Affiliate are all in.

Within Wealthy Affiliate, we are taught about the importance of selecting the right niche for our business. Can you define what a niche is? Let me share the definition I learned in my coaching class.

The Niche

A NICHE is a segment of a larger market that has its OWN UNIQUE NEEDS!

Read that again, and let it truly sink in. Instead of trying to solve the problems of everyone in that market, we choose a precise segment to become the best we can be for customers seeking solutions in this area.

In affiliate marketing rather than trying to serve a large market, we succeed by doing the opposite. We carve out a small segment of that market and become laser-focused on doing whatever it takes to DOMINATE that segment. This happens when we make the transition from looking for customers', to becoming DISCOVERABLE.

Can you see the importance of getting this right if you want these great things to happen?

First Steps To Peak Performance

We reach that level of peak performance when we become so good at helping customers in a specific niche that people find us.

Clarity of who you are is paramount. You must know who you can help. Then only can you strive to dominate your niche market. To become the go-to guy in your niche, you have to provide value to your customers.

Aha! Doesn't that sound familiar? Don't you think this has something to do with the quality of content we write? And how we use keywords and SEO? Those are the metrics Google uses to rank our posts and send traffic to us organically?

Once we know what our niche is, the next step is massive action. Honestly, when I hear advice like we can build our business at our own pace, I interpret that as applying just a modicum of action. If that is what we do, we will achieve mediocre results. Is that OK with you?

How Do You Find Your Niche?

Here are three steps to hone in on your niche.

  1. Do your research to select your market and to carve out the segment you like
  2. Pay attention to your surroundings to find out who your customers are
  3. Think about specific solutions you can provide your customers

It is important to use your own voice. Be clear on how you can help people. Stay fresh by updating your approach. Be a student of the latest trends in your niche to capitalize on them.

Here are some action items to help in selecting our niche.

  1. What is your target market?
  2. What segment of that market would you like to apply your laser focus?
  3. What problems do you intend to solve for your customers?

Answers To Find My Niche

After giving this some thought, I came up with the following answers for myself.

  1. My target market is individuals who want to increase their disposable income.
  2. The segment I am targeting is those who have tried to make money through MLM and other get-rich-quick schemes and are failing, or have failed.
  3. Since they have exhausted their resources, I will provide them with an alternative way that will cost them very little. i.e. training in affiliate marketing through Wealthy Affiliate.

Even if you already have a niche, I feel it will be beneficial to go through this simple process to figure out your niche.

If you wish, please share your answers in the discussion area below. In any case, I would love to hear what you think about what I have shared.

All the best to you.

Cheers!

Edwin

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Recent Comments

26

Its simple - A niche is a group of people who have a problem and are willing to pay for the solution

Hi Barry,

Thanks for your comment. All the best to you.

Edwin

Edwin, 👏 that is spot on.

I will certainly be referring this to newbies to help them understand niche market.

A blessing Sunday to you.

Candy Benn

Hi Candy,

Glad that this was helpful. Keep up the good work.

Edwin

This bit of work is really excellent, Edwin. I think my take is even when you have a niche, drill down even further. Top thinking. I am just about to start my copywriting career where their advice is don't niche, so it is quite a contrast.

Hi Philip,

Thanks for commenting. All the best in your copywriting career.

Cheers.

Edwin

Some niches can be very difficult to narrow down. I had no such issue with my MMO niche where I have managed to bring it down to Baby Boomers looking for online work.
My gardening one has been more difficult to narrow down. I will take another look at it using your tips. Thanks Edwin.

Hi Jim,

Good to know about your MMO niche. Regarding your gardening niche, pick one specific area you are either most knowledgeable about or most passionate about. You can't go wrong either way,

Cheers,

Edwin

Edwin, you are saying what I am constantly saying after I completed a thorough research on understanding niches.

Spot on with all.you have to say.
Here are 2 blogs that supports your blog
I hope you will find interesting as I did Have a blessed Sunday

Hi Simone,

It seems that great minds think alike. Glad to see that niche has a universal definition as shown by Candy's posts. The fact that this is a well-trodden path indicates the importance of choosing the niche right for the individual.

Thanks for sharing those links with me.

Cheers.

Edwin

I hope other members see this blog as well
I will be including it to members when they are unsure of what their niche is all about
Thank you for sharing, Edwin

Hi Simone,

There's been some great feedback among some members. Glad this was helpful to people.

Edwin

I'm quite pleased about it too :)

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