Bethig Marketing -3 Niche Marketing Lessons You Can Benefit From Today

3 Niche Marketing Lessons You Can Benefit From Today

In Blogging, Content Marketing, Small Business Marketing by Lloyd Bettell-Higgins

So we have all heard about niching down and focussing our marketing down to a few or even one person. Now I know how this sounds entirely counter-intuitive but is bizarrely the thing that will get you more eyeballs on your site, your product and into your funnels.

Now if you haven’t heard of this before, then Sarah Arrow gives a great explanation of Niche Marketing and offers some great advice.

Niche Marketing is Nothing New

Niche marketing is far from a 21st century concept, it has been around forever. Blogs are certainly
no longer new, though they are relevantly new in comparison to niche marketing. When you put the 2 together, you can create an authoritative web presence which can help people answer the big problems in their lives.

Authoritative niche blogging is different from running a website where your goal is to simply get people to click on ads that earn you money. That’s not the type of blogging this site focuses on.

Yes, you may have some type of monetization on your niche blog via adverts, but that is not the sole intention. This fast becomes a race for traffic rather than great content. Successful niche blogs inform, answer questions, provide solutions and work to develop relationships with their readers and followers.

When choosing which niche you want to blog about, think about a specific problem in a tight marketplace. Don’t try to be everything to everyone; you can’t be and to try is the fastest way to fail. When you have a laser targeted approach, you can quickly become an authority figure in your niche.

Think of an area where you want to really make a difference. Then niche down until you have identified a very specific area of focus. Inform, answer questions, help and care about your audience, and your niche business blog can only grow your influence and your bank balance.

Read more of this article here… Niche Discovery: What’s a Niche

Understanding what Niche Marketing is clearly helps you make a start but you really need to be able to define that niche so you can start talking to that great, receptive but targeted audience.

Susan Solovic shows how to start defining the niche so that you know exactly who it is you are talking to. By defining in this way you will find writing your blogs, ad copy and everything else you do, so much easier.

How to define your niche market

I suggest that one of the best starting points if you want to build a business, product, or service around a niche market is to build on what you already know.

Further, this can be ideal for budding small business owners and even those of you who want to create a business from home.

What Hobbies Do Your Audience Have
What Hobbies Do Your Audience Have?

What are your interests? What are your hobbies? What professional expertise and experience do you have?

Dig deeply into those areas of your personal knowledge to discover needs that aren’t being met. What inconveniences do you find yourself often coping with? What would you like to do, but right now getting it done is a hassle, so you don’t even try?

If you can develop a unique product or service in an area that’s very close to you, you have a good chance to succeed. You will be in a position to judge the value of your creation its marketability and you’ll also know who your market is.

That’s a winning combination.

Tip: Demonstrate your expertise by starting an email newsletter and sending commentary and advice to your target audience.

Another great tip she rolls out is…

Maximize your impact by narrowing your focus

One of the worst mistakes your business can make is trying to please everyone.

Narrow your focus, communicate your unique value, and hone in on your niche audience.

There is more of her advice here… How to Find and Define Your Niche Market

Remember you also need to be able to stand out in your niche if it is particularly noisy…

Lorna Li expands on this by providing some actionable steps to get you started.

The Science of Researching Profitable Niche Markets

Researching profitable niche markets can be tricky. It’s easy to assume that a market characterized by high demand is profitable, but that isn’t always the case. A great example of this might be the cookie baking market. You might be great at baking cookies, but starting a blog about cookie baking may not be profitable for you, especially if all your visitors are seeking quick recipes and not really interested in buying anything.

I’m going to share with you a basic methodology, as well as some free tools, commonly used by Internet marketers for niche research. While this approach is oriented towards entrepreneurs who want to create a revenue generating website in the niche of their choice which is essential if your business is entirely online it is also extremely powerful if you are a brick and mortar business seeking to grow online income streams.

While niche research techniques might differ slightly, depending on whether you intend to sell digital products, physical goods, or services the principle remains the same.

Lorna breaks it down into

Step One: Identify Your the Audience

Identify Your the Audience

If you are an early stage entrepreneur looking to start a viable business in a market you are passionate about, rather than focusing on what product you want to sell, start first with understanding your audience. Why should you concentrate on a niche audience first, instead of products?

 

We then go onto

Step Two: Research Your Niche Market Keywords.

In this step, you want to identify what keywords your audience uses when they research topics related to this niche market, especially searches related to their problems, pain points or deepest desires.

This information will not only tell you what topics your audience cares about the most, it will tell you whether or not there is enough profit potential in this niche.

Then next

Step Three: Analyze the Competition

The level and quality of competition in a niche is a good indication whether the niche is lucrative or not. The most lucrative keyword niches, are typically characterized by:

  • High average cost per click (CPC)

  • Multiple pages of ads

  • Advertisers in the top 3 premium positions

  • Ads that are highly targeted to the search keyword

After that

Step Four: Research Industry Trends

Another critical piece of information to have is where the niche market is going. A great free tool to use is Google Trends.

If you want your business to be a long term business, it’s better to establish yourself in a market that is growing or at least relatively stable, rather start your business in a pie that’s shrinking.

And Lastly

Step Five: Decide if You Want to Enter the Niche Market

At this point, you’ll need to decide if the market is worth getting into. As I mentioned before, the Law of Attraction courses sub niche indicates profit potential, but not a lot of competition. Unfortunately, it doesn’t show a high enough monthly search volume to be viable on its own.

As a rule of thumb, if you see a ton of highly targeted ads at the top and in the right side bar, on multiple pages, with the top brands in the market consistently in the 3 premium spots, it will probably be tough to break into that market as a newbie. You’d be up against established brands with large marketing budgets.

Follow along in more depth at… How to Research a Profitable Niche Market

So if you are wanting to be increasing engagement with your audience, and who isn’t, you will want to be talking to that special one person that is going to be interested in what you have to say and, ultimately, sell. Although this advice always sounds counterintuitive, it does always see great results.

Here is another great resource for you from BuzzHill Marketing. It is a little lengthy at just over one hour but if you have the time, it is full of some great information.