3 Easy Steps for Finding Your Niche and 5 Benefits of Niche Marketing
Finding Your Niche and Benefits of Niche Marketing
When you start something new for business, there is a lot to take into consideration. It is essential that you look at every angle so that when you do launch your online business, it has the best opportunity to be successful. Finding your niche and getting to the point of finding the keywords for your niche isn't all that different. Here are three easy steps you can take to find your niche.
Step One: Finding Your Keywords
Finding your keywords is the fun part when it comes to discovering your niche. With Google’s External Keyword Tool (https://adwords.google.com/home/tools/keyword-planner/#?modal_active=none) it’s super easy to search for niche ideas. The free tool allows you to find both local and global search volumes for particular keywords and related keywords. It also provides you with the competitiveness of the keywords as well.
You want to search for keywords that pull in at least 1,000 global searches every month. You also want to make sure that the keywords you’ve chosen aren’t overly competitive as well.
Step Two: Analyze the Competitiveness of Your Keywords
After you’ve discovered some niche market keywords that you think might be profitable and that you might want to work with, you can start checking out exactly how competitive they are. This can be accomplished by using Google’s search engine and typing your chosen keywords into the search bar. This will show you how many other pages are listed for the keyword as well as the pay-per-click (PPC) competition as well.
Step Three: Decide on Your Niche
Based on the results you get from the previous step, you can now decide on if you want to move forward with your niche idea. You want to pay special consideration to the number of PPC ad's that come up during the search. If there seem to be a ton of competition, but minimal PPC ads, then it is safe for you to move forward with your niche idea knowing that you won't be wasting your time or energy on a nonprofitable market.
Once you’ve decided to move forward with your niche, you’ll need to select a domain name that fits your keywords. Finding your niche is just the beginning. Once you’ve landed on the best market for your interests and passions, you’ll have to get to work creating your content, building your links and backlinks and start creating your email marketing list.
Every business has a target audience and within that target audience is a smaller subgroup of people that share specific characteristics and who have particular needs, wants, and preferences. These niches are a rich source of marketing opportunities for every business owner. While niche marketing isn't for every business, those businesses that have the chance to cater a niche market can gain many valuable benefits.
Enhanced Customer Relationships
Niche marketing targets a specific type of customer, so depending on what your selling, your market could be small. A small customer base has its benefits. When you engage with fewer people, you can focus more on the quality of those interactions and on nurturing those relationships.
Marketing a highly specific product or service means you will have less competition with the same offering. The more particular your product or service, the fewer companies that you will have to compete with for customers, and the more difficult it will be for them to copy your strategies.
Increased visibility not only leads to a higher number of customers but can also improve your online presence. Businesses with a unique product or service tend to stand out from the crowd and often are featured on media outlets like the newspaper or radio stations.
Word of Mouth Advertising
Another great benefit of niche marketing is that it is incredibly word-of-mouth-friendly. You have more opportunities to get the word out about your business because people in specific niches tend to be in frequent contact with others in the niche. The better you serve your niche customers, the more likely they are to recommend them to their friends and family.
Niche marketing requires you fine tune your expertise in a shorter amount of time. It enables you to become an expert or thought leader in your industry quickly. For your customers, your knowledge is more important than your company size or brand name. When you become an expert at something, you can gain more trust from your customers as well as gain more brand recognition. People may become aware of your business just because of the specialty product or service you provide.
Whether your business serves only your niche or is among other audiences, the purpose is the same. You are striving to find a small pond where you can be the big fish. If you try to compete at everything, you're not going to win at anything. Picking one area to concentrate on allows you to focus your efforts and stand out in your industry.