I struggled a lot finding a niche market for my blog and I invested a lot of time on this. This is why I write this complete guide to putting you in the right direction if you are trying to figure out the niche of your next online business.
This is not a guide for everybody, this is an ambitious guide for people who want to create something different a meaningful, people who want to discover their deep passion by helping others.
If your follow this steps, you don’t just will find a niche market, you will find YOUR niche market and purpose online.
What’s a niche market?
If we want to sell a product or a service we need to focus on a specific market, which is a segmentation of a whole group of consumers. We can classify different markets attending the area where the product or service solve a problem: fashion, fitness or nutrition will be market examples.
A niche consists in going down in that market to solve a specific problem inside this market. For example, if we choose fitness as a market, we can go down to focus on “fitness for entrepreneurs”. This is a much more specific target, our client is not just somebody interested in fitness, also have to be an entrepreneur, because we are specialised in fitness programs and techniques for entrepreneurs lifestyle with no too much time, always busy and traveling a lot.
We could be even more specific in our niche and find what is called a micro niche. From Fitness for Entrepreneurs, we can go down to Fitness for online entrepreneurs from London. Imagine how specific is our offer, we can deliver solutions to online entrepreneurs based in London, maybe because we know the city and the best running routes, best 24 hours gyms and we understand exactly what’s their problems as online entrepreneurs.
I know what you are thinking now. That reduces the number of potential clients!
Is not how much people you can potentially reach out (we’ll check later how to identify a minimum viable market size), is more important how do you connect with your audience and how much value you provide.
How to identify YOUR niche market
Ok, we have clear what’s is a niche and how we can go deeper from a market to a niche and even to a micro niche. But the question here is: What is my niche market?
I have a particular vision about how to identify it and is purely based on my personal story. If we are talking about building a personal online business, you should be interested in that in if you are reading this post, to me is more important start from passion and then go to profitability.
If you want to succeed with your online business based on your own content and your own personal branding, you will need to invest tons of time writing and researching about your niche to deliver awesome content to your readers. There is only on way in doing this in a healthy, constantly and durable way. Loving what you are doing.
Think about that topic you are talking all the time with your friends, the books you read, the youtube videos you watch, your hobbies, the activity you could be doing for hours and the time flies. This is a great point start finding your personal niche.
In my opinion, there are 2 options to start identifying your niche:
Option 1: You are already an offline expert in that niche (which love)
This is a very common situation for offline or traditional professionals with a lot of knowledge, they are looking for digitalizing the business model, moving to an online business platform. This is common on consultants, for example, they have an “easy” transition to the online model because they can transfer all that knowledge via info products, online training, online mentoring, etc…
Then they can access to a huge rank of potential clients, transform the business, create new services and establish as an expert. They can build trust and authority and apply online monetization systems to create scalable services. Which is not possible in traditional consultancy.
Option 2: You are passionate to learn and become an expert in that niche
If you want to base your online business in a new niche for you because is just a hobby by now or just because was that plan B on your career, that “someday” project that you never did it. Don’t worry. You can still start as a beginner, teaching other the way to learn and sharing your experience, in fact, this is a very powerful way to engage with your future audience.
Brainstorming: what do you like?
That was a key question to identify my niche. Before this question, I was totally lost looking for profitable niches and trying to stay on my previous industry just because I was there, ignoring there was no passion at all. In this stage, I felt very lost and confuse. Maybe you know what I am talking about.
I suggest you do a simple brainstorming, no secrets, blank paper over the table and write down anything that makes you feel good, happy, full and motivated. Doesn’s matter what, any kind of things about hobbies, professional, wishes… take your time in doing this. Is a good idea keep with you that paper for a whole week adding new topics anytime you do something that you like or think of something that make you happy.
You will be very surprised after a week, reviewing your brainstorming list you will discover a pattern. This is the direction you have to follow in your online business. Because you know what, personal and professional becomes the same whole thing when you are designing your online business based on your passion. So don’t hesitate to mix your ideas from hobbies to professionals to build your perfect niche, that place where you feel anything make sense for you.
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What’s your purpose?
If you want to create a long-term project you will need a purpose, a point in the horizon to follow when you get lost or the noisy world confuses your ideas.
Create an online business being a solopreneur is not an easy job, I will never say that. But once you have a few things clear is not that complicated and just needs knowledge, patient, constancy, and passion.
By defining your purpose you are defining your mission, you are shouting to everybody what you want ultimately change in the world.
For example, my purpose is helping nonconformist people to create an online business with passion and build a lifestyle in perfect harmony between personal and professional life.
Measure the niche market size
Ok, we had identified that niche where you know your passion is coming from. What’s next?
We need to know if this niche is big enough to invest your time and money (don’t worry, you only will need a little investment before you make money), so we need to figure out how many people is interested in the topics we are talking about.
Let me show you some tools to find out that numbers.
As we say recently, BuzzSumo is a fantastic tool which shows the hot topics the people are engaging more. You only need to type the keyword of your interest, let’s follow the previous sample “fitness for entrepreneurs”
As you can see, there is quite a lot engagement in that keyword and potentially could work as a niche. Is people enough sharing that articles in social media.
Now is a good moment to read in deep this posts and analyse where are they from, are other blogs talking about that niche, what they sell, we can check their traffic on similarweb.com and have an accurate idea about the situation, the influencers and what they do.
Another great tool to identify the volume of searches in this niche is Semrush, we can type the same keyword and the results will show you how many people is searching for this particular keyword and other similar keywords. Is convenient expand our keyword analysis into different variations and this tool is going to show you great options.
A great way to expand this keyword analysis is using google suggestion search. Just type on google “fitness for entrepreneurs” and google will show you 4 other alternatives people is searching according to that criteria.
Here you have a different idea about what people are interested and that give you a good perspective to build a stronger niche.
Google only show you 4 options as you can see, but I recommend to change the keyword in different variations like, “healthy entrepreneurs”, “exercise for entrepreneurs” or other alternatives. You will have loads of ideas! And it’s free.
And of course, if you have the budget you always can use KeywordTool to get more results.
Validate the niche
You have your niche and you know there is enough people interested in that topic.
Next important step: figure out if people is willing to pay for it.
We can take a look to the biggest online shop on the internet, Amazon. Type your topic, search books, products and any other stuff related.
TOP TIP: search by books on Amazon about your niche, click on the “Look Inside” option to take a look to the table of contents to any related book. This is a HUGE source of information for your niche analysis.
Another great place to validate our niche is ClickBank, this is a marketplace for digital products, you can check again your niche and see all the results, prices, top sellers, etc… great information to find out if your niche is a profitable niche and even to do income projections.
How to monetize your blog?
To establish a solid strategy to finding a niche market you have to invest some time previously to identify the different monetization systems that you can apply to a blog. Maybe you feel more confident with a few of them and that give you a clear vision to find your direction.
Let’s talk briefly about the main monetization systems.
Advertahing and promotion
I don’t recommend to focus your main monetization on google adsense or similar. You can do some money there, but if you want to make enough money to be independent financially with your blog, this is a bad idea. The reason is because you will need a huge amount of traffic to generate a few thousands dollars per month. And honestly, is nothing fun on it.
Promotion could be interesting when you have a reputation and your audience trust in you. You can promote a product related to your niche doing a post and talking about your experience.
IMPORTANT NOTE: always promote products or services that you use or you will buy for yourself, and be brutally honest on your review with your audience. Always.
Of course, you can sell products that you create or resell from others. Always related to your audience and delivering high-value solutions.
Here is a huge potential, by selling your knowledge with digital products is one of the most popular and attractive ways to monetize a blog. Have a low production cost (sometimes only your time), and is totally scalable.
You can do online training, e-books, audio-trainings, webinars, courses and a lot other options. Or simply a great combination to deliver different learning possibilities to your audience.
I want to be clear with you, this is only a breif note about the huge amount of ways you can monetize your blog, you don’t need to be obssesed with this if you are figuring out your niche right now, at this stage is not a priority for you.
Test yourself in that niche market for your blog
Congratulations, now you are on the last stage. You previously identify a passionate topic that makes you different, you know what’s your purpose and why you want to create your online business.
You did a good analysis of your niche and find out how many people is interested in this topic and the volume of searchs they do on the internet. Finally, you validate your niche and your competitor’s products, and that gives you and idea about the economic potential of your future online business.
Then you take a look to the different ways to monetize your blog, which I recommend a combination of a few and with this diversify your incomes, try different systems and check the most profitable for you.
Now, is time to check your blogging skills!
If you want to succeed with your online project you will need to write a lot about your topic, so is time to test yourself and start the 30 days challenge!
This is very simple, you even don’t need to have your site online, even not a domain! I want you to imagine you have a blog on the niche you finally choose. Then write during the next 30 days, 2 posts a week. The articles need to be at least 1,000 words.
When you finish your 30 days challenge you will have 8 posts. Your first 8 posts!
Then you can be honest with yourself. How do you feel writing every week? Was it very difficult for you? Maybe is so hard to find inspiration to write in this niche and is time to rethink again. Or maybe was more easy than your thoguht.
1,000 words are not that much. The recommendable lenght is over 2,200 words, but don’t worry about this because is on another stage. First things first.
Finding a niche market is a very important decision in your online solopreneur journey, but as you can see in this post there is a lot of resources to find great niches where you feel comfortable. Be patient and enjoy the process, I took my time and I still review the direction of my target audience because this is something that never ends.
I encourage you to start with your brainstorming to find out the key passions in your like as a start point to find the core business, the principles on your future online business.
And of course, I would like to listen from you, write in the comments your experience finding your niche, or even better, tell us about your 30 days challenge!