How to find a market niche?

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In this guide you will learn how to find a market niche that you are passionate about, profitable and that can bring you short and long term benefits.

Finding your niche is an essential part of starting your entrepreneurial journey and preparing you for success, whether you are launching One blog, an online store, or you just want to generate income online but don't know where to start.

How to find a market niche? And, once you find it ...

How do you know if it's a good niche market? ...

How do you know if this is a niche market that will differentiate you from the competition and deliver the results you want? ...

Today we'll answer these and other questions to help you find the perfect niche for you!

Let's start!

What is a niche market?

A niche market is a segment of a larger market which can be defined by its own needs, preferences or identity that make it different from the market wider.

For example, in the men's footwear market there are many different segments or niches. Running shoes would be a niche market, as would shoes for climbing the mountain or running shoes for use in the city.

Almost all markets can be refined or divided into according to the preferences and specific needs of their components. Some of the most common ways to define a niche are based on:

Demography (sex, age, income level, education level).
Price (luxury, moderate, discount).
Quality (premium, artisan, cheap)
Geography (residents of a certain country, city or even neighborhood).
Psychography (values, interests, attitudes).

Choosing to focus on a niche is a strategic business decision to better serve a certain customer base than competitors targeting the broader market.

7 steps to choosing a market niche

So the million dollar question:

“How do I choose a niche that interests me and has enough customer base to be profitable, if I have no idea about all of this? " ...

Here are 7 steps to help you decide which niches best suit your preferences and needs!

# 1: think about things you love to do

The first step is to forget about making money or attracting huge waves of traffic and thinking about what excites you and what activities you enjoy doing every day.

Whether your passion is football, food, makeup or music, you can make your passion a lifestyle, thanks to the many technologies, programs and platforms that exist today!

Here is some things to take into account if you have trouble finding inspiration:

1.- What activities do you like to do in your free time, or even in your professional life?

2.- What blogs, YouTube channels or websites do you like to visit?

3.- Do you have a subscription? What are? Why did you register?

4.- Is there a subject that your friends always turn to you for answers? How are you an “expert”?

5.- Are you part of a club? What is it and why do you like it so much?

Put all your ideas on paper

It's good to write all of these things down, even if they seem obvious, because the things you can take for granted about yourself can be a great niche idea.

Put it all on paper helps reveal skills and interests otherwise invisible.

For example, maybe you would like to cook, sing or play a musical instrument, but you never thought about how you could make it your niche because it is something that you just do. weekend.

If you enjoy and have a genuine interest in your niche, this gives you an advantage over your competitors. You're more likely to devote more time, effort, and attention to the project you're passionate about than if you picked a niche at random.

# 2: solve your hearing problems

Whether you've found your favorite niche idea or wondering how to narrow down your options, now is the time to look at your potential niche markets under the microscope and see if they are truly viable.

The first thing to do is to identify problems in your potential niche and decide if you can solve these problems for your target audience.

This is the result of any profitable business: you must combine passion and simplicity and offer solutions to your customers.

You need to understand the weak spots of your audience to get a feel for the issues they need answered. There are a few easy ways to do this:

Explore online communities

Take the time to read the questions, comments and discussions on forums like Quora, comment sections on relevant websites, review sections or support groups.

Make a note of any common issues or issues that you think you can resolve.

Talk to people

Sit face to face with someone from your target audience and ask them questions to find out what their weak points are, what might make their life easier, what they lack in the market, etc.

Study the key players

Identify the key players in your potential niche and assess the problems they solve. Are there any important gaps that you could fill? ...

Take a look at their social media to see what customers are saying and imagine how you could offer something unique and useful. Try to think differently from others when identifying problems ...

For example, you may find popular products or services very expensive, which is a problem for customers on a tighter budget. Could you offer a similar service for less? Or make it more practical?

# 3: analyze your competition in the niche

Hopefully, your niche list of potential markets is now much shorter, after excluding those that don't present problems for your target audience to solve.

With the remaining ideas, it's time to do some super nifty competitor analysis.

First of all, it should be noted that even if you dream of finding a brilliant new niche, but not tapped by any other company, it is highly improbable.

If you find a niche market with no competition, it's probably a sign that others have tried it and found it unprofitable.

So you want at least healthy competition - it is a good sign that you are in a winning niche, but not so much that you do not have the chance to enter the market.

Start searching on Google

Just go to Google and start making research relevant to the niche that you want to analyze. Take your time to analyze your competitors' websites, social networks, products and brands.

Here are some questions you can ask to get you started:

1.- What type of content do you create?

2.- Is your content of high or low quality? Could you do better?

3.- What tone of voice do they use?

4.- Who is your target audience?

5.- How often do you post content?

6.- How do they interact with their audience?

7.- What are your customers saying about the product?

Understanding what your potential competitors are doing and what you could be doing differently is essential to creating a knowledgeable plan for your niche.

# 4: use keyword research

La keyword research is one of the most important concepts of SEO (Search Engine Optimization). It is understand what people are looking for.

You want to find keywords with high search volume because that means a lot of people are looking for them.

There are many tools online to help you with keyword research. Here is 3 of the best tools you can use for this task.

1.- Google Trends

Google Trends is a free tool that analyzes the popularity of search terms over time ...

With Google Trends, you can find the most searched keywords around the world. Just enter a keyword and start applying filters to discover combinations.

This means that you can find out which keywords are increasing or if interest in a particular keyword is decreasing.

2.- Google Keyword Planner

The Google Keyword Planner is a free tool that is a great starting point for collecting information on potential keywords.

Google Keyword Planner is a perfect free tool to start researching relevant keywords for your niche. All you need is a Google account to start using it.

You get data straight from Google and it gives you clear information about suggested keywords, average search volume, competition, etc. It's easy to use, useful, and free - perfect for beginners!

3.- SEMrush

SEMrush is roughly the best keyword research tool, giving you an all-in-one service that covers everything from specific keywords and words used by your competitors, to long-tail keywords and associated search queries.

SEMrush is one of the best SEO and keyword research tools you can find. You can get started for free for 7 days and try out a host of digital marketing features of all kinds.

SEMrush has a free trial of 7 days, then it costs $ 99,95 per month.

# 5: assess your market niche

It's all starting to fall into place - now you should have a much clearer idea of your niche and how it might work.

But before you dive straight into your niche, stop and rate it for make sure it's a really good and viable idea.

So far, you've picked something you're passionate about and conducted competitive analysis and keyword research.

Now is the time to do some final checks to make sure this really is the right niche for you.

1.- Is it a profitable niche?

You might not be as concerned about the profitability of your niche if you are starting a blog, but if you are starting a business or an online store, it is very important to know that you can really make money with it. your niche.

There are several ways to find out if your niche is profitable:

Take a look at the trending products on Amazon, Google, and eBay.
Identify the best-selling items on competing sites.

You can also find out what is en vogue on the affiliate marketing networks popular like: Hotmart ou ClickBank to see how much they can generate certain products.

2.- Who is your target audience in this niche?

You need to understand exactly who your target audience is. This will affect:

Your tone of voice.
Your sales tactics (such as: Network Marketing social ou Marketing by e - mail).
The platforms you use to promote your brand.
The content you create.
The images you use on your site.
Your design choices.

Your target audience affects everything from the fonts you choose to the language you use and how you promote your brand online.

Think about the age, gender, lifestyle, pain points, budget, hobbies, culture and more of your target audience, so you can assess how best to help them.