What Is Niche Marketing About?

bySeanPDX

88 followers

4 years ago

So, what is niche marketing about?

If we look at the definition of marketing; The action or business of promoting and selling products or services, including market research and advertising.

And then we look at what a niche market is; A specific subset of a larger market where a customer with a set problem or problems have been identified.

We could say that...

Niche marketing is an advertising strategy that focuses on a unique target market.

Instead of marketing to everyone who could benefit from XYZ product or service, this strategy focuses exclusively on one group--a niche market--or demographic of potential customers.

A group that would most benefit from the offerings.

Don't worry, it's really not as complicated as it sounds, I promise.

I'll explain...

Think of it as a topic.

And, the more specific you can get with that topic, the better.

I will give you an example:

We will use one of the "Big 5," the weight loss industry.

The weight loss industry is massive, it's a multi-billion dollar market with major players competing like Weight Watchers, Slim Fast, and Slimming World to name a few.

More than likely, you personally don't have the resources, time, or money to compete with these huge companies...

Unless you're secretly a millionaire or there's something you're not telling me...? ;-)

But for this example we will assume that you aren't...

Because of this, you will need to dig deeper and find a smaller sub-section within the weight loss market where there's a more level playing field (aka your audience) not being catered to.

There you will find your "niche".

Pretty easy right?

Well, easy might not be the word I would use, I'll explain more.

There are 5 areas most profitable niches fall into, as I will go over each below...

The "Big 5"

One of my favorite marketing quotes,

Nobody really knows who said it, but in my opinion, it's pure gold.

What do you think it means?

Here's how I take it...

Pretty much everyone wants to be happy in the key areas of their life - finance, romance, and health.

They would like to have a stable income to be secure.

They would like to have a strong, long-lasting relationship and partner(s).

They would like to have to be healthy, to feel good, and live a long life.

So what's the point?

My point is that if you market in a niche that provides some or all of those things (health, wealth, relationships) then you really cannot go wrong.

Now, you're probably thinking, "ummm, either he is really bad at math, or..." :-)

I would take it a step further to say that there are 2 more areas that other profitable niches fall into.

• Self Improvement
• Hobbies / Interests / Activities
  

People happily spend money of both of these topics as well.

So the "Big 5" are:

1. Health & Fitness
2. Wealth / Money
3. Relationships & Dating
4. Self Improvement
   
5. Hobbies, Interests, & Activities

Almost every profitable niche falls into (1) or more of these categories.

And some niches even overlap into more than 1.

Below we will look at some examples from the "Big 5" profit industries...

Finding Your Niche Market

The most simplistic & effective way to do this (for me), is to taking a topic and digging deeper to a sub-topic.

Jay, who is WA live training coach suggests that you use the formula:

"BEST [niche market] FOR "X"

X= audience, a situation, a season,
It really could be any of these things, then from here go to Jaaxy, and use alphabet soup technique by typing in...

BEST sled FOR "A"

BEST sled FOR "B"

BEST sled FOR "C"

So on and so forth, and you will come up with a TON of keywords...

Another formula I like to use is:

This formula can almost always be used when you're having troubles narrowing one down.

One of the biggest mistakes that most affiliates make, is being to broad with their choice of target audience...

The more layers you can "peel back," the more specific person you will be able to target, upping your shot at success.

If you try to market to anyone and everyone?

You won't be allowing yourself to focus on a specific type of person's issues and will more than likely fail.

For example: IF you were a 50-year-old man, who wanted to get back in the dating scene after recently getting divorced.

Would you want to get advice from a kid in his 20's? Or hear it from a Gentleman closer to your age and has been thru similar events?

Or if you were a woman looking to get back into physical shape after pregnancy?

Would you prefer advice from a mother of 2 who looks amazing or an over-weight 30-year-old guy?

People want specific advice tailored to them and their own situation.

And if it's coming from someone who has maybe been through the same, or something similar?

Well that's even better...

The "'Big 5" Most Profitable Industries

Here I have given you some examples of niches within the "Big 5" profit industries...

1. Health & Fitness:

• Bodybuilding
• Insomnia
• Weight Loss
• Diabetes

AND if you take it just a step further, these can be dug deeper into, to find even more specific niches...

*Remember, the further you can go into the topic, the better

• Bodybuilding for skinny men who want to attract women.
• Insomnia for recovering drug addicts who can't sleep due to withdrawals.
• Weight Loss for pregnant women
• Food recipes for type 2 diabetics over the age of 50.

2. Wealth / Money

• Affiliate Marketing
• Forex
  
• Amazon FBA / Ecommerce
  
• Paid Surveys

And if you take it a bit further, (further the better)

• Affiliate Marketing for veterans who want to work from home.
• Forex for beginner traders who don't have a big budget.
• Amazon for international sellers on a "tight" budget.
• Paid Surveys for college students who want to make some money on the side while studying.

3. Relationships & Dating

• Getting A Girlfriend
• Owning A Pet
• Being A Better Father
• Foster Care

These, if taken a step further...

• Getting a girlfriend, through online dating, for people who are shy.
• Becoming the owner of a Dalmatian for the first time.
• Being a better father for your children after a messy divorce.
• Fostering troubled teens who don't know their parents.
  

4. Self Improvement

• Public Speaking
• Learn French
• Rehabilitation
• Stress Management

Taking it a step further...

• Public Speaking for city officials who are running for office.
• Learning French for college students who are studying abroad.
• Rehabilitation for recovering alcoholics who are single fathers.
• Stress Management businessmen/women with high blood pressure.

5. Hobbies / Interests / Activities

• Golf
• Survivalist
• Model Airplanes
• Yoga

You know the drill by now...

• Golf for Senior Men looking to make it on the Senior Tour.
• Survivalist for single mothers who want to be prepared in case of emergency.
• Model Airplanes for fathers looking to bond with their son.
• Yoga for women over 50 looking to get fit.

Tying It All Together

Here are some stats and data that hopefully will tie this all together for you. I hope I have helped give you a better understanding of what niche marketing is. If you have any comments, questions, or concerns? Please comment down below, or PM me, as I would love to connect and/or assist in any way possible.

99% of websites are generic and too broad. They try to appeal to anyone & everyone that will listen.
* + *
But this results in having a Frenetic (loud;too noisy / too much going on) website.
* + * (Thanks Jay :-)
If you could just get 200 people to spend $20/month, that's grossing $4,000/month.

And if you go super niche, you will have much smaller of a target audience, but there won't be as many people in your niche.

Making it much easier to get to the top of that niche, and be the go-to guy or girl in that specific super niche.

Honestly, almost ANY market will have 5x that no matter how specific it is...

You could even market something for $10 to 500 people, which again shouldn't be too tough, assuming you are getting some sort of traffic to your site.

This should give you a better understanding of what niche marketing is.

And how to start the process of finding one...

May All Your Affiliate Endeavors Be Affluent


-Sean Patrick