Niche Marketing is the business that promotes and sells a service or a product to a specific segment of a market. Large organizations refer to the niche as a segment. Small Companies find a niche to be a distinguished group of people with distinct preferences and needs. Many established and new businesses enter into this specific market segment with a ‘Niche Marketing Strategy’. Focus on your niche and draw new clients and progress your business in the right direction. Show clients the range of deliverables that you are capable of producing or services you offer. Customers tend to look for proof that you understand their niche market. They want to feel like they are in expert hands. When you focus on a specific niche, it increases your value in the client’s eyes. Target a specific niche to position yourself in the market, and gain the right clientele.
Your interest in a market niche shows your expertise and the quality of work. It’s easy to build on past successes. Consider social media marketing channels offering a limited audience with specific users that can be used to engage with prospective customers in your niche market. Social media channels for niche markets whether related to present or future growth is a necessary investment. Follow a comprehensive content marketing strategy to identify your niche audience for engagement and driving traffic to your site.
Examples of a Niche Market
‘Hunting’, ‘Fishing’, and ‘Wildlife-Watching’ for 2016 involved the participation of 101.6 million Americans in wildlife-related activities. The expenditure breakup for the three niches are-
- ‘Hunting’ stood at $25.6 billion > Niche 1
- ‘Fishing’ at 35.8 million > Niche 2
- ‘Wildlife-watching’ at $75.9 billion > Niche 3
Finding your Niche Market
To create a profitable business, confirm a concept or an idea and research different markets. The key to success is to find your hungry market before you have a product.
In a hungry market, identify who you are going to target? What are their pain points? Start a business because you have found people who have a problem that needs to be addressed. Come out with specific solutions that can solve their problem. Thus you create value at the beginning of your business.
A website that is focussed on a specific topic is known as
Page Rank is a Google algorithm used in a search to rank websites in their search engine results. It measures the importance of website pages. Go to the prchecker.info/check_page_rank tool for more info.
alex.com/siteinfo is a global ranking system using web traffic data to create a list of the most popular websites on the web related to its usage
Page Authority is a forecast for how a specific page will rank on search engine result pages (SERP). The score range is from 1 to 100. The higher the score the greater is the ability to rank. On the other hand, the Domain Authority is a measure of the strength of an entire domain or subdomains. These Moz metrics are not used by Google to determine search rankings and does not affect SERP. Check the moz.com/link-explorer tool to measure the Page Authority and Domain Authority.
Common Misconceptions about Niche Marketing
- You need to be an expert
- A lot of competitors exist in any selective niche
- A lot of money can be made with Google AdSense.
- Big businesses will easily outrank your niche site.
- Be Passionate about your website topic. Try to focus on at least 6 topics to get more specific.
- Let the work you do influence the niche topics as you will have the skill set related to the specific industry.
- Find niche topics based on your favorite hobbies.
- Ask your friends for help
- Market Research the selected niche topics to gain knowledge and expertise and become an authority.
- Find a good balance between competition and profitability for the niche topics.
Niche Website Monetization
Have at least three monetization strategies work for the website that you create. If you are to be successful choose the strategies that will work best with your audience. This way you will diversify the income that comes to your website from different sources.
Selling Services or a Product
Selling a tangible service that your audience will want and use. Services in a digital marketing niche can be web design, SEO services, PPC Advertising for Google/ Bing Ads, Social Media Marketing, Presentations in the form of guides, ebooks, white papers, Infographics & Graphic Design, Videos & Animations & Podcasts, Branding, Online reputation, Content Marketing, Marketing Automation & CRM, etc
Selling a product can be either physical or digital. A physical product can be anything which can be shipped from a location whereas a digital product is available online or as a download and can be accessed from anywhere. A computer with internet is all you need.
Selling Ad Space
Selling Ad space is only possible if your website attracts a lot of users. Offer areas on your website for people to purchase and display their banner Advertisements in a given time frame.
Click on Affiliate-Marketing to read more. eg: Use a job feed from indeed.com that is relevant to your niche. Get paid when users click on the sponsored job ads that benefit the audience of your website.
Click on Google-AdSense to read more.
Paid Membership Sites works towards monetizing content on the Web. It provides paying members with access to select content for services through downloads, drip content and premium content. The main two types of Paid Membership Sites are a Service Site that mainly performs as a purchase payment and management system for memberships eg: A club that takes all the process of membership management online. The Second is the General Site in which paid memberships are provided access to restricted content.
Sell the website you develop from scratch that grows to a particular point and earns revenue. Such websites sell for at least 20 times the revenue they currently make.
Niche Marketing Tools
Tools to find Niches are
Microsoft keyword tool
Click on microsoft-keyword-tool to read more.
Google free keyword research tool
Type the search phrase a customer would think when he would want to buy your product or service that you intend to create.
- Fishing > Volume: 1,830,000/mo | CPC: $0.75 | Competition: 0.07
- Hunting > Volume: 823,000/mo | CPC: $0.35 |Competition:0.17
- Wildlife-watching > Volume: 1,000/mo | CPC: $2.53 | Competition: 0.2
Click on Google-Ads-keyword-planner for more information. Google Adwords keyword planner tool is good to know the average monthly searches and what the advertising is for paid search. Organic search is totally different. Use the long-tail keyword Pro tool for organic searches
- Profitable – The sites indexed < 100 times as large as the numbers searched for it.
- Less Profitable – The sites indexed is 100 – 400 times as large as the numbers searched for it.
- Difficult for Profit – The sites indexed > 400 times as large as the numbers searched for it.
Niche Marketing Strategy: eBook, PDF & Video
Your content should directly relate to the needs of your audience. After selection of niche offer promotional materials such as an E-Book, PDF or a Video and build your list.
Turn an idea or a special report into an E-book that is easy to produce in a PDF format. Microsoft Word comes with the Acrobat plugin. Other free PDF creators such as doPDF.com generate PDF for E-books with exhaustive content to small reports.
Make Quality Video using Camtasia Studio which has a cost. But an alternative CamStudio is available for free. Use a microphone eg Blue Snowball and a Pop filter. A microphone delivers a legendary sound for all things from podcasting to recording instruments. A pop filter is a noise protection filter used for getting rid of the popping sounds caused by the
Design a PowerPoint informative manual/ tutorial/ guide etc to help your customers. The PowerPoint Add-in toolbar gets installed by default with Camtasia. Produce or Open your recording directly in Camtasia. An on- screen recording requires little or no preparation. Record your PowerPoint presentation to create a video and have your PowerPoint informative manual all set up. Some free alternatives to PowerPoint are Keynote (Mac), Google Slides, Presentable, OpenOffice Impress, LibreOffice, etc.
Read the MS document by clicking on powerpoint-for-mac. Go online to Powerpoint from your Mac by signing in with your Microsoft email ID.
Niche Marketing Strategy: Building a Niche Website
Create an A
For website SEO use plugins for WordPress such as Yoast or All In One SEO Pack. Also include XML sitemaps, Super Cache, Contact Forms, Table of Contents, Website security, etc. Create internal and external links for your website. Backlinks are a sign of trust and will contribute to the authority of your websites. To get some links (do-follow/ no-follow) comment on other blog posts. Accept guest blogs and write a quality post for other websites to earn do-follow links. Link your website to Google Analytics and Google Search Console.
In about 60 – 90 days Google Search Console will start to display on-screen for which keywords your websites will be found in search engine results. Once your website attracts more than 50 visitors a day, monetize your website using Google AdSense and Affiliate Marketing. Link your product reviews and posts to your Affiliate Marketing. Offer a freemium and build your list with an eye to selling a product or a service. Manage your list by using an autoresponder.