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Niche [nich]:
A distinct segment of a market
In a nutshell, niche marketing involves serving one part of a market.
It’s not serving an entire market, but neither is it promoting only a single product.
A niche can be sliced out of a larger market in many different ways. A niche market can consist of:
When a lot of people first get into making money online, they often pick a product and start promoting it (usually by going into the Clickbank Marketplace and choosing a product that has high gravity, or browsing Amazon and picking a product).
There are a couple of BIG problems with this technique:
or
On the other hand, if you focus on serving the needs of a niche audience, you won’t get burned when a product you’re promoting disappears or becomes uncompetitive – you can simply find another product to promote!
This applies to focusing on just one way of making money online, too.
Many people will build a niche site with the intention of making money only with Adsense or by reviewing Amazon products.
Here’s a great quote by Jawad Khan that highlights the problem with focusing on monetization before choosing a niche:
Amazon Associates is “still just a monetization method. And a monetization method is NOT a business on its own.
It should always come AFTER you’ve identified a specific problem (your niche) and built an engaged audience around it.
Couldn’t have said it better myself!
(Btw, if you’re just starting out, or spinning your wheels, you need to read this thought-provoking article by Jawad: 7 Reasons Why You’ll Continue To Fail As A Niche Marketer)
Just think about it for a minute: niches have multiple needs, but products don’t.
Here’s an awesome mind map that Darren Rowse from ProBlogger put together when he was figuring out how to diversify the income from his blog. It shows dozens of ways to make money blogging:
Again, all of those ways to monetize a site are available to you after you've chosen a niche to go after - whether that niche is based on a demographic group, needs, or other angle.
So if you start your first niche site by focusing on the “new mother” niche (for example), you can attack that market by first making a list of all the needs that new moms have:
Your New Target Audience?
Baby clothes | Yoga gear |
Parenting e-books | Sleep aids |
Weight loss programs | Kids' books and videos |
Time management advice | Marriage help |
So when approaching a niche market, look at it this way:
Your job is to serve as a “guide” for your niche audience, guiding them to the solutions to their problems.
But first you need to find a niche that’s right for YOU.
You can start that process by brainstorming niches based on needs.
Here’s an outline of the process I go through when looking at niches:
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