2 Things To Be Clear About When You Decide Your Niche Market

What is a niche? It is exactly what the name suggests... a hole in the wall. In the real world you often find a burger stand in a corner where there isn't any. That's a burger-man operating in a niche. Likewise a niche online would thrive in the corners of the internet where no one is selling any great expertise in a specific area. The 'niche' meaning the expertise area.

Often people get confused about what is a niche market. Even now, you just understood that a niche is an expertise area... so what is a niche market? Well, it is the size of the audience you can have for your expertise. Therefore, if you are a specialist in 'growing hair', your market is bald people. You would not meet any niche marketing success in an audience of well-groomed hairy people.

So, in the process of finding a niche you have to be clear on two broad things. And that is what this article is about.

One, you have to know the exact size, character, habits, preferences, trigger points, hot buttons, and key phrases that work for your audience. The clearer you are on these aspects the better you will be able to tap into the niches you specialize in. It is just not enough to be the expert on the subject. The need is to be the expert on the consumers of your subject.

Lets go ahead, for example, with our 'growing hair' niche. Now unless you feel the pain of the bald man and know the trigger points that make him want to compulsively take action on doing something about it, you might only be an advisor and not a marketer. You would be in the niche advisory business, not in the niche marketing business.

So the key take-away is that a niche market exists for you only when you 'know' the market. Otherwise it is somebody else's niche market and you would probably not win in it.

Second, it is pointless discussing what is a niche if you as a marketer do not learn the means of making a profit after finding the niche market. For this you need to learn exactly how to convert your expertise into buyable products and services that your market needs. So if you lack the expertise in converting your niche into a monetizable opportunity, it is not a niche market of any use for you. For example 'growing hair' could be a great niche but if you can't isolate the bald people online, you've got a loser in your hands!

I hope the 2 axioms above have helped you get clarity on how to assess the niches to pursue. A video here on what is a niche would help understand better from ground-up. You could also explore a course on niche marketing to hasten your progress here.

2 Axioms to Decide What Is Your Niche Market