How to Choose a Niche For Your Business

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1 year ago

There was a time when you could sell anything and still make money online, you could sell from a hairpin to cakes from the same store and make money by selling. These days people like to visit niche stores. They will rarely visit a site that sells clothes for a baby as well as 70 years old man or woman. They will visit the site that sells niche products, for example, if they want to buy clothes for kids, they will visit stores selling kids' clothes, if they want to buy plus size they will visit a store selling plus size clothes.

How to Choose a Niche?

It does not matter what you are doing (blogging, vlogging, selling online, affiliate marketing, etc.), what actually matters is what niche you have chosen. In order to grow your brand, market your business, generate sales, and grow followers, you need a niche and more specific your niche is better will be the result.

A niche can be what you are selling as well as where you are trying to sell.  A niche can be a very narrow market as well as a broad market.

One strategy that a lot of businesses use in terms of developing a niche is they start selling almost anything and after some time they find out what is working for them and they start focusing on it.

Another popular strategy is to look at the market and find out what is in demand but not in supply.

The third method is to promote a lifestyle, instead of the product itself. IN doing so the companies are not targeting the niche, they are actually targeting people who they believe can be influenced.

Niche Store Vs General Store

When you want to open a store (online or offline) in order to sell products, you have two options: a niche store and a general store. A Niche store is a store where you sell niche products and a general store is a store for selling general products. If you have never done a business, you might be confused about what kind of stores make you more money, or what kind of products, niche products or general products, are easier to sell.

On your niche store, you will be selling a particular kind of product. For instance, if you are selling clothes for kids aged 3-10, you have a niche store. You will be selling particular themed products.

A general store, on the other hand, is a place where you will be selling different kinds of products. For instance, if you are selling clothes for all genders, and all ages, you have a general clothing store. Not just clothing, you can choose other niches and sell them under the same shop. For instance, you can sell cosmetics alongside clothes.

What is Micro Niche?

What exactly is a niche?

A niche is a product, service, or interest that caters to a specific group of people. For example, a game is a niche product as this will be of interest only to those people who are interested in gaming. Gardening is a niche because this would be of interest only to those people who do gardening or have an interest in gardening.

What does it mean to niche down?

You will have to niche down in order to become successful. When you niche down, you narrow the niche. For example, the game is a broad niche, you can narrow it down to paid gaming or free gaming.

What is micro-niche?

A micro niche is a small niche in the broad niche section. For example, a game is a niche, you narrow down this niche into a free game or paid game, and you can then further become specific with the niche such as PC gaming, Xbox Gaming, PlayStation Gaming, etc.

How to Make Money By Using Micro Niche?

Online gurus tell you that if you have a niche, you can cater to a specific group of people and get traffic, generate sales, and make money. Well, a niche itself consists of such a broad range of products, services, and interests that it is very difficult to generate traffic and sales even if you have a niche. The answer to this problem is you need a micro-niche.

You can blog, vlog, or sell products on the dog niche, however, if you cater to specific dog breeds that would be a micro-niche. For instance, Husky is bigger compared to Tibetan Apso. These dogs have different habits, need different kinds of care, need different kinds of treatments, grooming, etc. If you create content or sell products on micro-niche, Husky for example, instead of general dogs, you have better chances of making money because your content will be the ultimate destination for Husky lovers and they will buy your products.

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Comments

You are right creating a “niche “ for yourself is very important it is more like an identity

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1 year ago

Thanks for making me understand the meaning of "Niche" I have been so familiar with that but not explained the way you broke it down and more here. Please share with me any other earning platform you know. Thanks for this. Happy Sunday

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1 year ago