What Is A Niche Market? Get My Detailed Explanation Here

By | March 18, 2016

What Is A Niche MarketMany people find this to be one of the most challenging things when they get started online. When I started here 3 years ago I had the same problem. As a matter of fact, I actually went through 3 niche’s before I found one that I was good at and was able to become pretty successful with, in the online world.

Today, I want to help you guys avoid making the same mistake that I made and show you exactly what a niche market is and how to choose one that would be a good fit for you.

So What Exactly Is A Niche Market & How Can You Find Yours?

I struggled with this term for close to a year when I first started and it took me a little longer than that before I truly understood the meaning of this word and I would like to share it with everyone here today. A niche market is nothing more than a group of people looking for something very specific.

That’s it! This doesn’t sound all that confusing when you break it down like this does it?

This could be a group of people looking for information about:

  • How To Lose Weight
  • How To Live Healthy
  • How To Train Their Dog
  • How To Make Money Online
  • Online Gaming

While these are all super competitive niches you would need to break these down into more targeted groups in order to have any kind of success with the niche markets I’ve listed above.

People tend to make this a whole lot harder then it has to be and therefore never move forward with building their website. The main reason for this is because they fail to understand what this means and they usually end up either going too broad or picking something they aren’t passionate about.

In order to find your niche market, there are a few things that you need to ask yourself before you get started.

They are…..

  • What group of people are you looking to help and what are you truly passionate about?
  • What topic could you see yourself writing about for the next 3-5 years without getting bored with it?
  • Are you a people person and do you enjoy helping other people?

These are just a few questions that you should be thinking about prior to getting started and as you continue to progress, there will naturally be more questions that will pop up. Once you answer these 3 questions you will be that much closer to finding your niche market and closing in on what your website will be about.

The Number One Mistake Most People Make When Choosing A Niche

Niche mistakesThere are many mistakes that people make when choosing a niche, but the most common one is probably going too broad. Let’s say that you’re a gamer like I am, and you want to help out other gamers out there who are looking for information on the latest video games to hit the market today.

There are thousands of micro niches inside this niche itself and there’s NO WAY that you could tackle this entire niche by yourself. As a matter of fact, you would find it rather challenging to do this even if you had a team of writers working for you full time.

In order to conquer this niche and have any success with it, you’re going to need to break it down into bite-size categories and focus on only a few sectors of this massive niche.

Personally, for me, I focused on the gaming headset niche and I have built a website around this topic. Even though I haven’t worked on the website as much as I probably should, I have still had some mediocre success with it so far.

Here are just a few of the many niches you could conquer within the gaming industry and base your website on them below

  • Mobile gaming
  • Gaming peripherals (Gaming mice, Keyboards, or graphics card)
  • Gaming headsets
  • RPG games and guides
  • Virtual reality
  • Gaming laptops
  • Gaming accessories
  • WOW (World of warcraft)

These are just a few and I could easily come up with thousands more but I think you guys get my point right? By narrowing this down you’ll find it to be a whole lot easier to find your targeted audience and you’ll be able to reach out and help them a whole lot better.

Whenever starting any niche you should always ask yourself “What group of people do I want to help? Do you want to help people looking for information on virtual reality games? This seems to be trending a lot here lately. Are you looking to help people that are into RPG games?

Maybe you’re into WOW (World Of Warcraft) and you would like to target this group of people. Whatever your case may be, once you answer this question you will be that much closer to finding your niche and getting started building your online empire.

There are many more mistakes that people make when first getting started that I go into more detail about here. This is probably one of the most common mistakes that I see people make on a daily basis and I wanted to make sure and cover it within this post.

When Will I Start Making Money Within My Niche?

Making money with your nicheMost people tend to focus entirely too much on when they will make money and fail to understand that this is the end result of lots of hard work. There are many Internet marketing gurus out there that lead you to believe you should be making money within 24 hours of building your website. This couldn’t be further from the truth and this is one of the biggest misconceptions when it comes to making money online.

Before you can make your first $1 online you need to understand how the process works first which I will break down for you in 7 steps below:

  • Choose your niche
  • Build your site by writing content around this niche
  • Get ranked in the search engines
  • Drive traffic to your site
  • Connect with your visitors and build a relationship with them
  • Gain their trust by relating to them
  •  Earn commissions by recommending products to them that you’re passionate about

Depending on how much time and effort you devote to your business will determine how quickly you earn money from it. The amount of time it takes to learn this stuff will vary from one person to the next so it’s impossible to predict how long it may take you to earn your first $1 online.

Don’t Attempt To Try This Without Any Help

Another one of the many reasons why most people fail to ever make any money online is because they lack the help and support that’s needed to build an online business. I know exactly how you must be feeling about now and trust me when I was searching for my niche market I failed 3 times due to not having the proper help and support.

Let me help you get started on the right foot and avoid making the same mistakes that I made when I first started here. The place that has helped me learn everything I know today is Wealthy Affiliate. It’s FREE to get started and you’ll be provided with everything you need to get started building your very own niche website.

In the 3 years I have been here I have helped hundreds of people find their niche and build a profitable website that generates passive income each and every month. I would absolutely love to help you do the same thing but just keep in mind it’s going to take lots of hard work on your part.

I really hope this post has helped everyone out and has given you a clear explanation as to what a niche market is and how to find yours. If you have any further questions or perhaps there was something I wasn’t clear on I would love to hear about it in the comments below.

Cheers

~Scott

 

About The Author

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Hi there, my name is Scott and it’s a pleasure to make your acquaintance. I started this website back in 2013 to help educate other people like you about the many diverse ways to earn an income from the internet.
I expose the latest scams, show you some of the most profitable ways to earn money online, as well as share tips and tricks with you that I’ve learned along the way.

One thought on “What Is A Niche Market? Get My Detailed Explanation Here

  1. Keith Hinton

    Great post on how to choose a niche! 🙂 Just wanted to share with your readers that another example at least specificly among the blind and visually impaired community are audio games. No visuals whatsoever; as that would be pointless, just audio that depending on what platform you use are either keyboard driven, etc. One excellent example if you have a Windows computer (most people do), is a racing game called TopSpeed3. You can check it out over at http://www.playinginthedark.net if you wish to try what I think is an excellent example of a game that even you Scott would have a hard time not enjoying. You need to have a headset of some kind though or an excellent set of quality headphones, speakers aren’t going to serve you well at all. 🙂 Not with this particular example. You and your readers should give the audio game niche an examination at some point if you haven’t already considered this. 🙂 Of course PC games aren’t the only possibilities now adays as iOS and other platforms are coming along over time with more choices. But you’ll most likely find more audio game choices developed for Windows. Ya know, I’ve considered becoming a game developer actually. 🙂 Might be fun to come up with one!

    Reply

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