What is a niche market

By | 15/03/2018
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So what exactly is a niche market

An example of a niche market would be, I have a wedding website I chose this as my very first niche and it was because I used to do catering for weddings, in this website I give tips about planning, saving money and how to choose a venue etc, however within this I perhaps choose to focus on one aspect for the wedding such as ( wedding toppers for the cake” why would I pick that because I found a gap in the market in other words this is something you will need but there is not much competition in this area.sourcing new products

I often say to people who are starting out in affiliate marketing, do you have a passion for something, it might be something like fishing as you know this is quite a big area to cover, so do you research what is popular or needed that is hard to find. How may people search for this product or service.

I have a passion for many things and the reason I choose affiliate marketing was because due to health issues I could not find a place in the regular work place and I still felt I had something to offer, and I really understand and like business startup together with finding good home business opportunities that are low cost and low risk that anyone could do.

Choosing you niche points to consider

  • You will be the one who writes the content for you website unless you can afford to outsource work
  • Products and services you choose to promote will be down to you
  • Do not try to do too many at once, it is better to focus on one and make it count than have more and cannot produce quality of work
  • Do not try to be perfect, once you have chosen and created articles for you site if they offer valuable information or solutions do not delay in publishing it you can make changes later if you need to.
  • My first website was a wedding site I still have it and it does fine but this will not be always the case for others, often people change their first niche
  • Remember you are writing for you visitors it needs to provide good information or give the solutions to what they are searching for, you are there to help visitors make a choice or answer questions they may have

Just about everything around us is a niche however when they are too broad it is hard to compete with the larger companies, choose a segment and focus on being an expert in that area.

 

Research you niche

Research is a very important part of choosing what you want to sell or which products and services you want to promote, do you home work and spend some time looking, think about why you would choose a specific brand over another, take for instance when you shop for some new trainers the choice is Adidas or Nike, which one would you chose and why!

Both are very good well-known brands, is it a personal preference, or is it the advert you like, perhaps you have always bought Nike so you loyal to that brand or will it come down to the cost factor.

What group of people are you looking to target are they local or is it something you can promote globally and if you in affiliate marketing what commission are you likely to make from it.

You do not have to overthink it but you do have to consider these factors when you are searching for a niche that suits you, being passionate about something is a big help as you will be able to create the content easier for you website, make it interesting, give a different prospective on the product or service.

 

Top 5 niche trends for 2018

  • Organic and natural beauty, it is estimated that this industry is set to become a 2 billion dollar industry as more people are shifting towards healthier alternatives and choosing natural products for skin care, personal hygiene and more products are aimed to capture this market.baby niche market
  • Baby Equipment , there are over 6,000 businesses that are selling within this niche it would seem that the baby equipment has become a booming industry with babies being born every day there is always demand in this area and not only parents but their family and friends are looking to buy gifts for baby showers, though 6000 businesses might seem a lot, just think how vast is the global market online.
  • Vitamins and health supplements again as people are shifting their focus to healthier life styles there is always demand for good supplements and the market is continually growing and sales are expected to grow to $13.9 billion dollars for the year ahead. I would suggest if you choose this niche that you look for plant based products and perhaps organic products.
  • Matcha Tea this started out as a conventional business in the last couple of years although this is a Japanese tea China have now brought out their own version of Matcha green tea in powder form. It has become popular because of the health benefits associated with it. If you like this idea just make sure that you choose a quality supplier as some manufacturers’ version can be very bitter.unique hand made products
  • Custom hand made goods are making a come back, people are looking for more unique goods, Esty offer an affiliate program which features hand made products such as jewelry and handbags etc. This is a selling place for all those talented craft makers and makes a good niche.
  • Pet supplies this is a vast market there are many dogs and cat lovers out there, in the USA this industry is expected to have a turnover of $96 billion dollars by 2010. Natural foods and supplements for the older pets will continue to grow.

 

These are only the top five there are many other lucrative niches out there one way to do a bit of research is to see what are the top sellers in places like Amazon and EBay, just choose a category and see what is selling the most and what you competition is likely to be.

 

Overview

Affiliate marketing is not for everyone there are many people who have decided to select a niche market selling their own products and that works just as good, you will get more of the profit the only downside is you have to take care of returns, complaints, shipping and where you will store you products unless you decide to focus on digital products.

Despite being inundated with choices of products available to us the demand for more or something different is still very much on the increase. Should you wish to ask my any particular question on choosing a niche just drop me a message and I will get back to you.

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