Niche Marketing Basics

The only way to truly be successful at niche marketing is to first understand the parameters of your niche. You can’t be all things to all people – that leads to confusion and low sales. Carving out a specific, definable, active niche is the only way to find your own profitable space online.

First Steps To Defining Your Niche

Focus.

Clarify what you want to sell, remembering that a) you can’t be all things to all people and b) smaller is bigger. Your niche isn’t the same as the field in which you work. For example, a retail clothing business is not a niche but a field. A more specific niche may be “maternity clothes for executive women.”

To begin this focusing process, Falkenstein suggests using these techniques to help you:

  • Make a list of things you do best and the skills implicit in each of them.
  • List your achievements.
  • Identify the most important lessons you’ve learned in life.
  • Look for patterns that reveal your style or approach to resolving problems.

Your niche should arise naturally from your interests and experience. For example, if you spent 10 years working in a consulting firm but also spent 10 years working for a small, family-owned business, you may decide to start a consulting business that specializes in small, family-owned companies.

Synthesize.

At this stage, your niche should begin to take shape as your ideas and the client’s needs and wants coalesce to create something new. A good niche has five qualities:

  • It takes you where you want to go—in other words, it conforms to your long-term vision.
  • Somebody else wants it—namely, customers.
  • It’s carefully planned.
  • It’s one-of-a-kind, the “only game in town.”
  • It evolves, allowing you to develop different profit centers and still retain the core business, thus ensuring long-term success.

-via Entrepreneur

Now that you’ve done the work to better understand and nail down your niche, it’s time to start planning out how to not only succeed, but dominate in your field. These expert strategies are great for getting yourself into the mindset of becoming the go-to for your target audience.

Learning To Dominate Your Niche Market

Don’t be Obscure

Now, when people start talking about “dominating” a niche, they’re usually fantasizing about discovering some brand new tiny gold mine that no one else has thought about. While new niches pop up all the time, it’s folly to think you’re the only genius on the planet who’s spotted any particular one.

More likely, it’s not a niche that anyone wants to bother with.

Sure, you can “own” the Total Quality Management for Peruvian Goat Herders niche, but who cares? You’ve got no traffic and less revenue. That’s not what we’re aiming for here.

In fact, more often than not, you want to enter a nasty competitive niche. Why?

Because that’s where the money is.

Intensify Your Niche and Carve Out a Territory

All niches—no matter how competitive—go through various phases of evolution. Brand new and mature niches alike will evolve as the audience grows weary of the same ol’ same ol’, opening the door to new players with novel angles and unique voices.

Ideally, a new player wants to come in with a fresh approach that doesn’t necessarily threaten the existing hierarchy. This allows you to develop an audience by sharing with existing players, not necessarily competing with them.

What you’re looking to do is intensify the niche by doing something more, or differently (or maybe even better) than the existing players. You do this by first evaluating and understanding where the niche is currently, and position your content in a way that pushes the envelope.

– via Copyblogger

Have you clearly defined your niche market? What strategies do you plan to use to mark out your territory and become the top name in your field?

Niche Marketing

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