Niche Definition – Understand What Niche is and Improve Your Market Research Strategies
The plain Niche definition is a small group, or interest that appeals to a small percentage of the whole population.
Lets think about it for a minute. I want you to think about animals you know. I myself am a scuba diver, so let me talk about fish for a second, you’ll see where I’m going with it. When you look at the amazing wealth underwater, the huge variety of creatures you cannot help but wondering how do they all get along?
The answer is niches. Each animal has it’s own niche that no other animal masters in the exact same way. Yes they compete over the same resources but they differ from one another somehow. They may differ in location, in time of their activity, in they way they exploit their resources and so on.
If two species were to have the exact same niche, one would parish.
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Now, lets get back to business.
Market Niche definition is referred to a small profitable portion of a market that marketers may find suitable to focus on. In real life, there’s no such thing as a niche. You as a niche marketer are defining your own niche by simply finding an area where there is little competition yet enough demand and costumers to market for.
Going back to the wild, an Antelope and a Giraffe both feed on tree leaves. The Giraffe eats the tree top leaves, while the Antelope feeds on its bottom. Each animal has it’s own Niche.
Now, lets use that niche definition and apply it again to our business strategies:
Your goal as a niche marketer is to find those untapped niches.
You want to become the authority for a small defined group of people, supplying them the answer to their problems as opposed to competing with everybody else on a bigger scale of business. You do so by finding searched keywords that have a low competition yet high demand.
You want to distinct yourself by being more specified than others are.
Lets say you target Dog Training.
Now, that’s a massive market with huge competition it will take you months or years to be able to compete with the “big dogs”.
In fact, you are competing with 162,000,000 search result over this search term.
So how can you still be successful in promoting dog training products?
How about trying to target a specific dog , like bulldog. the competition automatically narrows down to 23,500,000. But that is still very high.
Keep digging and find that you can solve a single problem with Bulldog, such as stop barking and compete against only 4,340,000 other pages.
Competition is only one aspect of finding a niche. You also want to make sure there’s enough demand that will lead into website traffic.
You also want to make sure you can find or produce a niche product so you can monetize your blog.
I will address theses issues in the future posts.
I’m in the process of finalizing a niche marketing guide that will help you through the process of niche marketing.
Yet, the most complete training course I’ve taken is Niche Profits Classroom which offers compete training, software suite, forum support, case studies and other materials that can get you started within a few days with little or no knowledge.
I highly recommend you have a look at some of the market research products we’ve reviewed already that can help you find untapped niches in minutes.
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