What is a Niche Market in Online Business?

(Last Updated On: May 19, 2018)

What is a Niche Market in Online Business, and how to go about finding your niche, developing it and to eventually make money from it?

Just a few very important things that you should be asking yourself before you even start contemplating making a living online, because if you get this wrong then it doesn’t matter how good your website and content is, it will all be in vain, so it is extremely important to choose the right niche.

Descriptive Misconceptions of Niche Marketing

You hear it all the time “Follow your passion” your “Interest” your “Hobby” and the money will come.

Too many people start off building their business with this firmly fixed in their minds, and if you just think about it, there is a fundamental flaw in this concept.

In the Online Marketing World, this is up there with probably the worst advice that you can be given if you want to be successful online.

The amount of time and effort required is vast when building your business where it is so easy to spend a considerable amount of money during the process.

You need more than just a passion!

Just having a passion or an interest, with bags of enthusiasm is not enough to build a profitable online business.

You must ensure that the market your niche belongs to has enough potential pulling power to become profitable, especially as you are going to be investing money to get the business started in the first place.

Let’s take a look at the costs involved in establishing a professional business website. One that has a strong brand and optimized throughout in-order to show up in search engines, like Google, Bing, and Yahoo, and to capture leads to increase your following.

Your time obviously; research, content creation, design, web development, web hosting, keyword research tools, software tools, auto-responders etc and this is just the tip of the iceberg.

Is it possible to turn your hobby into a business?

It could be quite possible that building a business online is just a hobby of yours, and that you aren’t really interested or too bothered whether it makes a ton of money for you.

If that is the case then that’s fine, but if you stopped and thought about the whole process in more detail and by following certain guidelines then why not make this a proper business, where, who know’s you could make a living from.

Need to tell your boss where to go?

This should be about you making money and hopefully enough for you to say “Thank you very much, but I have had enough of this 9-5  and to tell your boss that you no longer wish to work for him or her.

Niche Marketing is a very concentrated form of marketing. Unlike some other forms of marketing that target a broad range or large group of consumers and a more competitive market.

Niche marketing involves targeting a very specific, well-defined portion of a broader more competitive market area.

Some Niches are discovered or created, right?

Some niches do not ‘exist’, they are ‘created’ by identifying people’s needs, their wants, and requirements that are being addressed poorly or not at all by other companies, and therefore it’s the job of the affiliate marketer to either develop or deliver goods or services to satisfy those requirements.

As a strategy, niche marketing is aimed at being a big fish in a small pond instead of being a small fish in a big pond.

This is also called micro-marketing.

So if your goal is to make money online with a business, rather than spend money on a hobby or a passion, then choosing a profitable niche market is absolutely crucial, and there is an art form to choosing a profitable niche market and one that you can become passionate about.

It’s all down to whether there is a Hungry Crowd in the niche you are choosing or creating!

What do we mean by a Hungry Crowd?

This is where there is a lot of people who are looking for something.

People who are searching on Google for things like, information, services, products, training, and it is our job, our end-goal as an affiliate marketer to put this sort of information in front of this hungry crowd!

Surely all the best Niches are taken?

I guess you thought that finding a profitable niche is going to be hard, right?

All the great ones are already taken and have far too much competition to even contemplate researching further, so there’s no way you could possibly compete, right?

Well sorry, I’m here to tell you that you are wrong!

It’s true that most of the profitable niches already have a lot of affiliate marketers working them, which is not a bad thing really, as it shows that it’s a healthy market, with plenty of products and customers (a hungry crowd), and that means there is plenty of money to be made.

All this means is that to compete in this market or niche you simply have to find your own smaller sub-niche, where there is still a lot of demand but a lot less competition, because even smaller sub-niches with larger markets have a lot of demand too.

Lets clear up just what a Sub-Niche is?

A sub-niche is basically a smaller segment or portion of a Marketplace.

For example, Weight Loss the top-level is a large broad, general market rather than a niche.

Weight Loss for Men is more of a niche market although still quite broad.

Weight Loss for Men in their 50’s is a sub-niche or a micro-niche.

It is very specific, focused and caters to a very precise sub-section of the Weight Loss market.

More examples:

  • Dating > Dating For Men > Dating for men over 40 > Dating For Men Over 40 Who Want To Date Younger Women
  • Pet Care > Dog Care > Shetland Sheepdog Care > Breeding Shetland Sheepdog
  • Making Money > Making Money Online > Make money Online on a Tight Budget

The idea is to find or create a sub-niche which is part of a popular wider marketplace which gives you a better chance of success.

If you try to appeal to everyone and anyone in the wider market area, where there’s already a lot of competition, usually from well-established larger companies who have all the money for marketing, then you will struggle to become successful.

1. How to find the Best Niche for your Online Business

Write down a list of things that you are passionate about and put them in an order of precedence. These can be anything at all, hobbies, socializing, reading certain things, cooking, fitness etc

If you aren’t passionate about something, or you need a helping hand to find your perfect niche, then why not take a trip through some or all of my suggestions listed below and see where you end up.

You’re thinking, well he’s mentioned that passionate thing again?

Yes, I have and didn’t I mention earlier, you need more than just passion?

If you can find a niche and it has a hungry crowd and you are passionate about it then bingo because having a passion makes your life so much easier when building your business and it doesn’t become so much a chore.

But hey, we can always create or find our passion for a niche, so don’t worry about it!

What about Google Search? My first place of call!

Let’s continue using the “weight loss for men” example.

Go to Google

Enter your “weight loss for men” into the search bar and Google instant suggests some sub-niches for you.

Out of the initial keyword “weight loss for men,” you have a further number of sub-niches that are highlighted.

  • weight loss for men
  • men’s weight loss diet plan
  • men’s weight loss workouts
  • men’s weight loss tips
  • men’s weight loss supplements

From here if you go to the bottom of the page, Google gives you some more suggestions of sub-niches that you could research.

What about using a Keyword Research Tool like Jaaxy?

Just key in the same keyword phrase into Jaaxy and see what appears.

That’s a potential further 6 sub-niches not to mention more on the proceeding pages.

Jaaxy is just one of many keyword research tools available to you and one of the best products currently on the market and can be mastered in just a few hours.

Wikipedia is another great resource for finding that Great Niche.

Go to Wikipedia

Enter your niche idea into the search bar and hit enter.

Wikipedia will return what it thinks are relevant to your search query.

 

Amazon is a great resource for researching your niche.

Amazon is not just an online retail outlet, it’s much more and if researched carefully could give you all sorts of ideas.

Enter your niche idea or product of choice into the Amazon search bar, much like Google instant does in suggesting and giving you products and ideas.

Look at the results in the drop down bar that Amazon suggests

Another load of ideas that you could research further.

What about the books section on Amazon?

This is widely used when searching for new ideas.

Why not enter your niche idea into the books section of Amazon and take a look at the list of books displayed.

Sort the books with the most reviews.

Click on the book cover to look inside and go to the contents page.

Just look at the different chapters, these can all be sub-niches.

I searched for “internet marketing” and I found a book called “SEO 2017”

The contents chapter revealed the following…

  • Introduction to how Google works
  • Keyword research
  • On page SEO
  • Link building
  • Social media and SEO
  • Web analytics in a nutshell
  • The new meta
  • Powerful SEO tools
  • PPC

All great topics to be explored further.

What about checking
  • The Bestsellers on Amazon
  • Today’s deals
  • At your Browsing history
  • Deal of the day
  • Lightning deal
  • Savings and Sales
  • Coupons
  • Prime early access Deals

Why not select the department’s tab where you will find the top-level, broad term marketplace, and all you have to do from here is drill down and open up sub-sections. The further down you go into the sub-sections the less competition you will find.

There is so much you can do with Amazon in your research for that great Niche!

The end goal in your research finding that profitable niche is to research this further after you have decided that you have found a hungry crowd through Keyword Research.

Below I have listed what I think are the 10 top Marketplaces!

2. Does your Niche fit into one of the Top 10 Marketplaces?

Check to see if your chosen niche falls into one of the 10 categories below.

These are my top 10 and should only be used as a guideline.

Remember there are many, many more top categories.

If it does then straight away we have found a hungry crowd!

But don’t worry if the niche doesn’t fit into one of the 10 marketplaces because we might still be able to find a hungry crowd!

3. Keyword Research – looking for Competition

Remember when researching your niche you can look at it as a keyword because, in essence, that is what it is.

I always go through the three steps even if the niche I would like to get involved with doesn’t fit into one of the top marketplaces. You see further research using a Keyword Research Tool in a lot of cases may highlight your niche as a great niche or a new niche.

The top 10 are only to be used as a guide and if they fit into one of those categories then we know straight away that we have a crowd and that we can make our niche profitable.

Keyword research will eventually tell us how competitive our niche is going to be.

We are going to take a look at the screenshot of our last keyword search through the Jaaxy Keyword Research Tool and break it down a little further.

As you can see our search was for “weight loss for men” which is part of the “weight loss” marketplace.

Take a look at the top entry and let’s break down the statistics!

“weight loss for men”

Avg:  (Average) 

Average number of searches in Google per month for that exact keyword phrase “weight loss for men”                           = 3767

Traffic: (Traffic)                                                                                                                 

The number of visitors that could come to your website if you manage to get to the 1st page of Google                                      = 641

QSR:  (Quoted String Results)                                                                               

This is the number of web pages that refer to the exact keyword phrase  “weight loss for men”)                                        = 274

  • Avg=3767
  • Traffic=641  
  • QSR=274

We need to look at Avg and QSR.

Avg should be greater than 100 and QSR should be less than 100 preferably 50

The keyword or niche “weight loss for men” would be discarded as its too competitive.

Let’s take a look at the second and the fourth entry in the query. 

“best weight loss for men” Avg=175 QSR=0  – Brilliant

“weight loss for men over 30” Avg=112 QSR=19  – Brilliant

Here we have two great niches that we could use where we know that there is a CROWD and very little COMPETITION 

Fitness and Weight Loss

Weight Watchers, Slimmers World, The Paleo Diet, The Vegan Diet. Low-carb Diets and the list goes on.

People are obsessed with losing weight and getting fit and into shape.

I like to try to eat healthily and exercise and I like to go running and cycling.

There are literally thousands of companies out there promoting training programs, weight loss programs, diet plans, fitness programs, etc

Thousands of health and fitness magazines promoting all sorts

As an affiliate marketer this is one of the top niches to get involved with, but be careful in how you approach and market it.

Health

Closely related to the fitness and weight loss marketplace.

Gone are the days when people listened fully to their doctors, as more and more people are taking their own health into their own hands. With the Internet and the amount of information available for free, people don’t trust their governments or what their doctors are telling them anymore.

There are literally thousands upon thousands of products online such as juicing, herbal remedies, supplements just to name a few.

Alternative medicines and health care are extremely popular here. We’re not talking about mainstream medicine either. These are cures the large pharmaceutical companies don’t want you to know about.

Romance, Dating, and Relationships

Whether someone is looking for love, is into experimenting with online dating, or is in a relationship but struggling and looking for a way to revitalize their passion.

There’s a massive range of products in the dating and relationships marketplace, I mean just look at the sex industry, this is absolutely massive and something that is always going to be popular.

This is an area that is probably neglected when it comes to relationship struggles. If only couples sat down and talked and looked into different avenues, then maybe there wouldn’t be so many divorces.

People are always going to need advice in this area with it being so important for couples wanting to start a family. This is in a lot of cases the foundation of your future.

There are literally thousands of avenues you could go down and promote.

Pets

People love their animals with around 160 million dog and cat lovers in the US alone as of 2017, not even touching base on all the other different animals that are out there, from budgies, parrots through to horses, and not to mention all the other exotic animals, such as snakes, cats such as tigers, cheetahs.

What about people who love their tropical fish?

Just look at pet stores that are becoming much bigger trying to cater for all the different animals.

Dog training is a massive market, from getting them house-trained through to obedience training. You only have to look at

You only have to look at the number of TV programs that are out there to tell you that this could be a great niche to get involved in.

Self-improvement or Self-help

Also, known as self-help, this is a huge online marketplace, where there are books, DVD’s’s, courses. Online training courses etc. Whether someone wants to build self-esteem, experience career success, increase their confidence, set and achieve goals, overcome adversity or obstacles, there is sure to be a product out there.

You’ve heard of Tony Robbins, the motivational speaker. It’s a $12 billion a year industry, and forever growing.

People are always wanting to better themselves, with learning new skills to get that better job, which means more money for that bigger, faster car and a bigger house, not to mention bigger and better holidays.

Wealth through Investing

Let’s face it, everybody wants to make money and people are prepared to try anything, and they know that currency trading, stocks, and shares, bonds, options along with many other investments are a way to do this.

It is all over mainstream media where there are billionaire hedge fund owners and successful investors cashing in and they want a piece of the action.

Where do you go, because most people don’t have a clue what they are doing, so they need educating, and they need advice on which investments to get involved in.

That is where a variety of products related to investing come in. Trading services, financial newsletters, trading systems. These are all different ways that show people how to invest successfully.

It doesn’t matter whether the markets are going up, down or round in circles, whether it’s a depression or recession, investment products do well and it doesn’t matter how the economy is doing.

Make Money Online

Part of the Wealth market but such a massive area that we designated its own marketplace

A very popular marketplace here where there is literally thousands, probably millions involved in some way or another.

There are many ways to make money online.

You could create your own information products, such as e-courses, e-books, coaching programs and have a site like JVZOO or Clickbank to promote them for you.

You can also become an affiliate marketer, which is what I do for a living where you promote other peoples products and make a commission from doing so.

If you want to look into this further then feel free to read my review of a training platform that teaches you everything you need to know about Affiliate Marketing. Just click on the link below.

Learn everything you need to know about Affiliate Marketing

There are thousands of affiliate programs out there that cover every niche you could think of and cost nothing to join.

All you have to do is find the affiliate program that relates to the product that you are promoting.

Amazon Associates, Jvzoo, MaxBounty, Wealthy Affiliate, Clickbank, eBay Partner Network…

Beauty Industry

This market just explodes when we are talking about beauty.

Nobody wants to get old, do they?

Still looking for the anti-aging formula, but until someone comes up with that billion dollar miracle cure, then I guess we shall have to put up with all the other treatments.

Creams, formulas, or similar products that promise to eliminate or reduce the signs of aging are very popular.

Cosmetic surgery is massive.

Beauty Spas are popping up all over the place and what about nail bars

Hairdressers – There are always going to be needed

A great marketplace to get involved in!

Technology, Computers, and Gadgetry

This market is massive and expanding at such a rapid rate. Technology is at the forefront of everything moving forward into the future. In 50 years time our cars maybe flying, who knows.

Everything technology is loved by everyone, well almost everyone. Just look at what’s out there and what most people have, like smartphones, smart TVs, tablets, laptops, wireless speakers, iPods, wireless stereo systems, wireless security alarm systems, computer games consoles, and the list just keeps going on.

There are many ways that you could capitalize on products associated with technology.

You could drill down into the technology market and become a little more specialized in a particular sub-section or micro-niche.

Something like Drones!

This niche is just exploding and you can spend anything from $10 up to $1000’s and there are some amazing drones out there.

They were nowhere to be seen around 6-10 years ago.

Become an authority on Drones

Create your website and promote your drones from somewhere like Amazon

Create content relating to drones also known as a “blog posts”

Get visitors to your website also known as traffic

Once someone clicks on your link and purchases a product you get paid a commission.

Don’t know how to do this?

Learn, like I did and from the best in the industry.

Personal Finance

Where would we be without personal finance?

We are forever getting bombarded with ads in the newspapers, on the tv, pretty much wherever we look.

People always wanting mortgages, credit for cars, holidays, university,

Maybe they want to try and save on utility bills, they’re in debt and need advice in ways to solve this. Maybe they need to move their mortgage for a lower interest rate. Perhaps they are in so much debt that they are facing the bankruptcy courts and need help, or maybe the taxman is after them for back taxes and needs to know how this can be avoided.

How to Get Started Making Money Online With Niche Marketing

My advice to anyone who is serious about making money online is to stop following those sales videos that you see all over the Internet where the so-called gurus are promising you wealth, stood next to their mansions and fast cars!

Avoid MLM’s at all cost and stop following groups where all they teach is how to copy and paste!

If you only follow those little bits of advice you can save yourself a ton of time and money!

There are hundreds if not thousands of various programs on the internet that are here today and gone tomorrow, and the only ones who benefit from many of these scams are the owners, who then close up shop with all the money in a lot of cases and disappear into the wilderness, only to spring up from nowhere at some point in the future with a new program and the circle begins all over again.

Don’t get me wrong there are some very good training platforms out there, you just have to do your research and find them.

We all have to start somewhere right?

If you are serious about learning all this stuff…

  • Learning and choosing the right niche
  • Keyword research
  • SEO (Search engine optimization)
  • Creating a website, which is a piece of cake nowadays
  • Learning how to write content for your website
  • and much, much, more
  • All on one training platform

Take a look at what I do for a living and see what you think!

Final analysis

If you are serious about making money online then I hope that I have cleared things up a little or at least given you food for thought and that in order to do this properly then you really need a niche and a website.

I would like to thank you for stopping by and I hope what you have read has been of value to you.

Please feel free to add any comments you may have, both Negative as well as Positive as I would love to read them both, and I will try and get back and answer your questions at my earliest convenience and to the best of my ability.

Stay safe and I would like to wish you all the best in your research and choosing the right path to your success.

Mick

Owner – AchieveSuccessFromHome.com

 

 

Why not Spread the love
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Author: Mick

Hi, there ladies and gents. It’s great to meet you and thank you for visiting my website. A site dedicated to helping aspiring individuals who are looking for a way to escape the normal working regime and build a successful online business. If this is you then let's connect and I'll show you how this is done and guide you through the whole process, otherwise take care and enjoy the rest of the site.

6 thoughts on “What is a Niche Market in Online Business?”

  1. Yeah, choosing a niche can be a difficult task! Sometime a passion might not be enough if there’s not enough people looking for this particular thing. But I agree, you can create and find your passion for something. You just have to try something new! 

    I think it’s always important to do a lot of research before choosing your niche, because you might fail if you don’t do the research. You must know all the numbers.

    1. Hey Rich, you are absolutely correct my friend and the training at Wealthy Affiliate goes heavily into all this and makes the task seem so much easier.

      Thanks for commenting

  2. Great post about niches and how to find them, I think I have a much better idea how to find niches now.

    For me the too biggest things I usually look at is A) am I passionate about it and B) is there a hungry market for it.

    Usually if I can answer yes to these 2 questions I will usually go after the niche.

    1. Finding a niche seems to be a stumbling block for many, and sometimes you don’t have to look far for answers. 

      Thanks for the comment and glad you liked the post

  3. Fantastic article and it goes a long way to challenge many of the myths out there about choosing a niche. I totally agree with you about drilling down into a micro niche as that is where the sweet spot can be found and the most profitable websites are born around a micro niche. Thanks for sharing,Cheers, Karen

    1. Hey Karen, thanks for stopping by and taking time out to read this article. To many a “niche” seems to be a stumbling block when it comes to choosing one to build an online business around. If you look at what people are searching for, in Google alone there are well over 5.7 billion searches in 1 day, and each one of those search terms has the potential to become a “niche”.

      Hopefully I gave you some ideas for searching out that great micro niche.

      Thanks for the great comments, much appreciated

Leave a Reply

Your email address will not be published. Required fields are marked *