I swear that one of the things that scare people off internet marketing is the language.
Many of the terms that internet marketers use sound very confusing and complicated, and they actually make the field much more difficult than it actually is.
For example, you might be asking ‘what is a market niche?’ or ‘what is a niche market?’
These terms are going to be the focus of our discussion today, and I want to look a little bit at what the terms are and why they are so important.
For the most part, market niche and niche market are interchangeable terms.
Some people prefer using one while others prefer the other.
Of the two phrases, niche market is certainly used the most often, but I actually think that market niche has a nice ring to it too.
But, what is a market niche or niche market?
Basically, a niche market is a specific section of the market as a whole.
For example, if the entire market was everyone who buys things online, your niche market might be active people between 25 and 35 who are interested in rock climbing.
For the most part, a niche market is something that people research and find.
The idea is that if you target a subsection of the market, you can create a much better link between your site, your content and your audience.
This lets you target your customers much better and also can significantly increase your conversions.
Using a niche market is actually a critical component of marketing.
Even major companies focus on specific sections of the market, they don’t try to cater for everyone all at once.
Why a Market Niche?
So, why bother with a market niche?
When you subsection the market, you end up with a specific group of people that is likely to be interested in your products.
For example, if you were developing a site focused on environmentally friendly products for babies, you would probably want to be targeting mothers, specifically mothers who are actually concerned about the environment to start off with.
As you can probably imagine, there would be a huge difference in the content that you wrote for a group of mothers and just for a general audience.
Likewise, the points you made for a group of mothers who were already environmentally conscious would be quite different than the points you would make for a group of mothers who really don’t care about the environment.
By sectioning off your market like that, you have the potential to be much more targeted in the content you create, which really does save a lot of work.
Additionally, by defining and refining a market niche, you end up with a group of very specific customers.
This means that you can really take the time to get to know your potential customers and understand their wants and needs. Realistically, the more that you know about your customers, the better you can meet their needs and the more conversions you can make.
Another important thing about having a market niche is that it helps you get around your competition.
For example, if you are targeting a topic area that has a lot of competition, such as weight loss, targeting a smaller market niche can let you get around that competition. This happens because when you’re targeting a smaller market niche, you can be more refined in what you discuss, and make sure all of your content is highly relevant to your audience.
Finding Market Niches
If you’re going to use market niches in a website (and you should), one of the key things you have to focus on is finding the market niche to start off with.
To do this, your focus needs to be on what specific group of people you are trying to target and who is likely to be interested in your topic.
There are a few different ways of achieving this.
My first approach is always just to jot down ideas about potential audiences and topic ideas.
Google searches can be particularly informative for this as this will often reveal the specific market niches that my potential competitors are targeting.
Another really good approach is Google’s Display Planner.
I particularly like display planner, because it uses Google’s search statistics to show who is actually searching for a given topic, including their age and gender.
I suspect it isn’t 100% accurate, and there is a portion of users that it doesn’t have information for, but in general, the Display Planner is particularly useful.
One thing I really like about it is that it often reveals patterns that I didn’t realize were there.
This information can really help you to target a good market niche, and even find a relevant market niche that your competitors aren’t targeting.
For example, there are a lot of females that search for rock climbing and rock climbing gear, even though most sites tend to be targeted at males.
As such, you could develop a site that targets the female part of this market niche and this approach might give you a leg up on your competitors.
Overall, taking the time to research a market niche can give you a lot of advantage over your competitors and increase your chances of conversions – both of which are highly desirable things.
Another way to increase success in internet marketing is to learn more about the field in general.
Internet marketing is a fascinating area, but it can quickly get overwhelming because there is so much information out there and a lot of it is contradictory. A good place to start learning about the field and about how to be successful is a site called Wealthy Affiliate.
This is an online training site that teaches people everything they need to know about online success.
The strength of the site comes from the training that it offers along with the active and engaged community. I have personally learned a lot from Wealthy Affiliate and I find the community brilliant for getting feedback and inspiration.
The site also has a free membership and you can sign up without even needing to provide credit card information.