You have probably heard it said that if you do what you love, the money will follow.
That may be true if you are in a niche that other people love too. But if what you love is some obscure little hobby that you invented all by yourself, making money doing it could be an uphill battle.
That doesn’t mean that it can’t be done because others have done it.
For example; remember the Pet Rock? Who could have imagined a rock would have such a following. Then there is the phenomenon of the Rubik’s Cube that made its debut in 1974. All these years later it still can hold a person’s attention. This one little thing inspired competitions, and large convention gatherings the world over. So just being unknown or obscure doesn’t mean you can’t make any money in something off the beaten path – it’s just that the probability of success is lessened and will require more work and money to get started.
How to Find a Niche you (and others) Will Love
The TOP THREE profitable niches are in these groups:
1. Fitness / Weight Loss
2. Romance / Relationships
3. Finance / Making Money
These make for a good starting point when determining where your interests are. The next level to look at is the crazy hobbyists! Golfers, model train collectors, comic book and Sci-fi enthusiasts, scrapbookers, pet owners, kit builders like; jigsaws, robots, mechanical sets, airplanes, and on the list goes.
The kinds of hobbies that people can get into is nearly limitless. To get you started on research one of the best places I like to look is magazine subscriptions. If there is a magazine for it, there is an audience. You want to make sure there are products that you can sell them, that will feed their passion, for a very long time.
Niche Marketing Definition
Niche marketing is basically zooming in on one narrow facet of a particular market. For example model builders can be broken into planes, trains, and automobiles. Weight loss can be narrowed into several areas of focus. Men or women, age groups, dieters, exercisers, time restraints like a wedding to get to, plus the number of pounds to lose etc.
You can narrow these further by combining the sections. For example; “women over 40 who are bridesmaids at a June wedding and need to lose 50 lbs.” That’s a prime example of a super duper narrow niche! You can actually service these tightly narrowed niches by just tweaking an existing flagship product to suit the purpose.
By narrowing your market you can focus on a specific Avatar and putting your efforts into satisfying one particular aspect. Yes, the pool of prospects is smaller but when done correctly, the response rate will improve.
For example; assume I write an ad that says “Lose all your Weight Free – Today Only!” Running this ad will cost a fortune, it will be shown to millions and the people who sign up may not be the client I am looking for.
The only people who can afford to mass market this way are the huge companies like Weight Watchers, or Jenny Craig. You and I on the other hand need to pick our battles a little smarter than that.
Something more along the lines of “Still Struggling With Your Weight After 40?” – NOW you know who is going to sign up. You can narrow this even more by calling them out directly. “Hey Ladies. Over Weight and Over 40?”. Now you know exactly who you will be communicating with.
How to Do Niche Marketing
Marketing to a specific niche can be through advertising, your website, social media platforms, even through local marketing efforts.
The best thing to do is to really get to know YOUR people. Go into the forums they hang out in, shop at their stores, buy their books and read them. Become one of them and find a way to help them do more, get more, become more through their chosen passion.
Whne people know they can come to you to scratch their itch, solve their problem, or cure their pain – THEN you know you have become successful in your chosen niche.