So what exactly is a Niche?
What exactly is a niche you might ask? According to Wikipedia, this is the definition of a niche market: “A niche market is the subset of the market on which a specific product is focused. The market niche defines as the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact… Every product can be defined by its market niche.”
My next thought was: “Ok, well thank you for explaining absolutely nothing!”
Marketing in itself is such a broad concept. You have your product/service you want to market, you have your target audience you want to reach, you have your marketing materials you need to successfully market your product/service. And the list goes on.
You will often hear people saying: “What is your niche market?” It took me quite a while to understand exactly what a niche market is. So let me clarify this for you right now: A niche market is the small market segment of the industry on which a specific product is focused”. I seriously don’t understand why people don’t just give it it’s simple name, which in my interpretation is, the area of focus in an industry. Short and sweet, and more to the point. Much more comprehensible, right?
Marketing starts off by choosing the industry in which you want to be involved in. For example health and fitness. But health and fitness is way to big an industry in itself to focus on everything it entails. You have to narrow it down to a particular area of focus in your industry.
Health and fitness can target anything from exercise, to eating healthy, to supplements, and so forth. Deciding that your area of expertise and focus is going to be, for example on physical fitness like gymming, now that is your niche market. You have to narrow it down to a specific subject in that particular industry. So your industry is health and fitness, but your niche is physical fitness.
By choosing a niche you making things much easier for yourself. You have to remember that you are going to want to choose a particular audience to market your product/service to. And by choosing a niche, you are able to specify your target audience much easier.
Through my years of marketing it has always been drilled into my skull that you have to qualify your prospect before you start your marketing. Otherwise you reach completely the wrong audience and all your good efforts fall on deaf ears, because they are simply not interested in what you have to say.
So you narrow your target audience down to specifics. For example: My clients must be men and woman, living in the USA, age 18-45, that is employed and belongs to a gym, who is interested in health supplements, various exercises routines and gym paraphernalia” (paraphernalia = miscellaneous articles, especially the equipment needed for a particular activity). That is your demographics (another term that made no sense to me at first).
Once you have decided who your target audience is, you can get to work to reach those people, and to offer them value in the products/service you have on offer, and concentrate your efforts on supplying what your target audience needs.
Now that you have narrowed your target audience down to the specifics, you can build your whole business around that criteria, including your marketing strategy. The whole idea of choosing a niche is that you want to be able to deliver value to your audience while establishing yourself as an expert in your chosen niche market. And you can’t do that while flailing around pointlessly in an industry as big as health and fitness.
People must want to come back to your site because of the value and content you offer them in your particular niche market. Because when they start to trust you for the content you offer them, they will start spreading the word to their friends. And they will spread the word to their friends. And it will snowball. Trust me, there is no better way of getting business than via positive referrals. And that is exactly what you want in order to grow your business successfully.
Remember, offer your audience value and meaningful content. It will keep them coming back for more and make them paying customers for life.