The kick start of the Affiliate Marketing Newbie Series is here and we are starting out from the basics.
You can see all the topics we will be covering in this course over here.
Please make sure you go through every bit of the process and do not leave a topic without taking actions.
You probably have heard someone say Niche, Niche Market and you probably have wondered what it means or perhaps you really do know what it means but you are having a hard time recognizing one of the niche markets out there.
You are thinking they are probably the same. Well, it happens to some of us when we started out and it is not a bad thing to think that way.
It does show how you are eager to get it. I will show you what it means and how it works in a little bit.
So, let’s get started:
What is a niche market?
A niche market is a subset or say a smaller part, a bit of a larger(bigger) market where a customer with a set of particular problem/problems have been identified.
I know what you are thinking.
It does not sound difficult as it looks.
A niche market is basically a topic. A topic that address a customer’s problem.
The more targeted or specific a topic is to a problem, the better.
We have the Relationship & Dating Market/Industry, right?
According to MarketResearch.com, the US online dating market in 2012 was estimated to have a worth of $2.1bn.
That is a huge multi-billion-dollar market right there with major market players.
You cannot compete with the bug guns in this industry. You can never win because you are an individual.
Not that I am discouraging you from challenging them but you simply do not have the time, resources and the expertise to win them.
So you will need to bore a deep hole in this industry. The hole is deep down and not some surface drilling.
The intent is to find a golden niche you can make comfortable thousands of dollars from every month.
So, you need to drill down to find smaller sub-section within the dating market.
What we are exactly looking for is an audience not being “catered for properly”.
There you will have your golden ‘niche’.
Let’s have a practical niche drilling:
There you go, we are deeper now.
If I take the Dating Sub section as an example, I can as well still dig deeper and see what I can come up with.
- Finding a Girlfriend
- Wife Material
- Older Women Dating
- Interracial Dating
- Willing Dating partners
And yet again, these can be drilled a little further to find specific niches
Let’s try that, shall we?
- Finding a girlfriend, through online dating, when you are shy.
- How to get a woman’s phone number and email address.
- Finding a wife material online.
- Learning how to meet new women in day time situations.
- Finding the right partner even when you are busy.
- Starting and managing office romance and not get caught.
I can go on and on. Lots of niches you can go into.
You are beginning to get the idea right?
There is a simple formula you can follow to get this right.
The Simple Formula for Finding Niche Market
Just I have done earlier on the Relationship/Dating Market, in most cases, all you have to do is take a topic then drill down to find sub topic. The formula looks exactly like this:
Industry >> Market >>Specific Person>>Reason
E.g Health >> Diabetes > Over 50 Men > At Risk of losing a leg.
Making Money > Online Marketing > Traffic > SEO > SEO for ecommerce sites.
This formula applies to most niches, although there are exceptions.
Why do you want to drill down further a Niche?
You have higher rate to succeed if you drill down into a sub-niche of a popular wider market.
If you try to appeal or solve every problem in a wide market then you are likely to fail or struggle to attain success because there is completion, usually from established brands.
Who wants to struggle before they can succeed huh?
Also, when you go deeper down, you will be solving a particular problem in that sub niche.
If you were a woman looking to get back into shape after a pregnancy.
Would you prefer to get an advice from mum of 2 of an overweight 25-year-old guy?
People want specific advice and solutions tailored to their situation.
Better if it is coming from someone with the same situation as them.
This means when you finally to find a sub niche you will like to go to then you should likely do like you care experiencing and solved that same problem encountered in that sub niche you will like to solve.
Let me wrap up this chapter and leave you with a task to do.
Most profitable niches are likely to come from these 3 biggest industries;
- Health & Fitness
- Dating and Relationship
- Business & Money
What to do?
Narrow down a market by figuring out what a specific group of people who are interested in any of the industries I have mentioned above are looking for, but can’t find. What you are looking for is a big frustration or need you can fill within that niche.
Remember the formula I gave above for finding a Niche? Use that.