Niching Down To Stand Out! How To Identify The Most Profitable Niche! - Miles Beckler

Niching Down To Stand Out! How To Identify The Most Profitable Niche!

Want to dominate in your niche?

Finding profitable niche markets is just one part of the game.

If you want to become a successful business owner, you have to niche down.

You need to be of service to a very specific audience, fulfilling a specific need within your area of expertise, passion and knowledge.

You have to find your personal voice and unique perspective and bring it to the world in a personalized way, stepping out of the shadow of others in your niche.

Out of the 100s of people I know who are driven to create their own lifestyle design and become successful in the online business world, the ones who are killing it are those who have dialed in niching down. Those who haven’t, are still struggling…

I’m going to teach you how to niche down and the benefits of finding a narrow niche market that’ll  take your business to the next level.

Waste time no more my friend and let’s get you niching down today to expedite your business success.

What is Too Broad of a Niche and Why You Don’t Want to Be There

Is your niche too broad? If yes, you gotta niche down!

 

If you would like to listen to this concept shared as a podcast episode, you can do so here:

Let’s say you really like dogs, you have a dog, and you want to connect with and help pup lovers and owners out there just like you.

So you decide to enter the dog niche.

But before you dive deep into this niche, you have to ask yourself:

Do you have a unique understanding of this niche? Have you been into dogs and everything about dog care for the last 10, 20, maybe 30 years?

What do you have that the rest of the dog lovers in the world don’t have that gives you your unfair advantage for business success?

The dog niche is obviously super broad and super diverse. There’s the dog training, dog food, dog treats, dog health, dog behavior… there’s a ton to talk about in this niche!

If you try to be the Jack or Jill of all trades and talk about all of these topics in your videos, blogs or podcasts, you’re not really becoming an expert on just one dog-related topic. You’re not exploiting your strengths by niching down, instead you just end up being well versed in some areas and not as versed in others.

If you decide to cover these topics but you’re not explaining say, dog food and diet extensively enough throughout your content, because your knowledge of expertise leans more towards dog training, your audience won’t go to you for dog food advice.

Instead, they’re going to find someone whose knowledgeable is in this area.

Why? People are looking for experts. And again, that makes sense. It’s what I look for and it’s what you’re looking for too.

You’ll save yourself precious time, energy and money by narrowing in on your niche in business.

Niching Down Works In Propelling the Success of Your Business

Niching Down To Stand Out! How To Identify The Most Profitable Niche!The saying that says you can’t please everyone is not only true, but it’s especially true as a business owner. But you can be of service to your perfect customer.

Finding and attracting your perfect customer means as a business owner and entrepreneur, you need to be niching down.

Let’s look at the automobile industry. This is a very broad niche but, there are brands that stand out to different people, for different reasons. Think about brands such as Ferrari, Lamborghini and Porsche.

Why do they stand out?

Because they’ve niched down and focus their marketing towards fulfilling a specific need. Ferraris are not just automobiles, they’re a status symbol. Purchasing one of their cars says, “Look at me, I’m important, successful or wealthy. It’s not just a car that gets you from point A to point B.

They’re doing so well because all their efforts are geared towards one niche, an unfulfilled need of people instead of the general public who may not even care about being behind the wheels of a multi-million dollar car.

It’s the same success story you’ll get from niching down instead of trying to reach too broad of an audience. You don’t just need to be choosing your niche, you have to get as specific as possible.

What is a Niche?

Let’s say you are a self-proclaimed dog expert.

You have experience with dogs, you love dogs, you’ve owned a dog for years and have even been labeled by your friends as a dog whisperer by many of your friends.

Go deep into a dog related niche topic that people require a solution for. Explore niche ideas based on Maslow’s Hierarchy of needs and do some digging into how to do market research for your internet business, then execute.

This will help you broaden your understanding of what problems your audience is looking for solutions to.

What is a niche?

A Niche is Actually a Need, the more focused, narrow, and targeted that need is?  The more powerful! When the niche market, group of people with a need, will need your products and services for 3-5 years and have intense passion, that is when you can dominate and your income, and fun can transcend to a new level.

If you’re niching down, you would ask yourself, what’s a product or service for dogs, a need that dog owners will have for at least 3-5 years?

Dog food, right?

How to Niche Down

There’s tons and tons of content out there ever written and still being written on about dog food.

So you need to niche down further, what else do you know a lot about and have experience in?

Maybe it turns out you’re also a vegan and you feed your dog a vegan, plant based diet.

Boom. That’s a need you can fill, for an ongoing problem that a niche market has intense passion about.

If this were the case for you, you’d go into the vegan dog food diet niche, niching down to serve a passionate need of people just like you but are struggling to find expert solutions on feeding their dog vegan food without compromising their health.

Vegan dog, Vegan dog food, and vegetarian dog food, just those 3 search phrases are queried 9,600 times a month!

niching down in the dog niche market

From there, you can offer them vegan dog food recipes, vegan dog food prep tips, vegan dog food shopping list, etc.

There’s an abundance of what you can share in this narrow passionate niche and you can specialize in this one area, standing out from the rest.

You don’t want to regurgitate other people’s ideas. You have to niche down and dominate your niche by bringing your strengths, experience, passion and what makes you unique to the table and by doing so, shine.

Niching Down Examples - Real-Life Success Stories

niching down examples

If you Google, “internet marketing”, you’ll find thousands of results.

That’s how saturated this niche is!

But news flash, the internet may be broad but, I found my niche here.

You can literally check out thousands of YouTube videos on internet marketing, hundreds of blog posts on digital marketing skills that make money, and to an untrained mind, it may seem like the last thing you want to get into because there are folks who have been in this niche for decades.

But I was able to penetrate this niche and grow my business because of the unique things I was able to offer to my audience.

While everyone’s been busy talking about their hundred dollar YouTube Marketing book, how you can have overnight success like the fake gurus are preaching, I kept digging until I could offer something no one else was.

I offered ungated, free, 100% value-delivered how to make money online using YouTube.

I surveyed the landscape and learned that not many people are doing this. So I created my business around that model, that philosophy of cutting the crap, not charging outrageous fees to help people grow their business through my tips and advice.

We did this same thing with my wife’s business.

There’s Oprah and Deepak Chopra in the meditation niche, but at the time, there weren’t a lot of people in the guided meditation space.

We decided we needed to niche down in that space because it’s what we love to do and what we believe in.

With all the ingredients set in place, this niche worked for us and we have been dominating it.

Finding Your Niche Through Your Skills and Experience

I have a friend from New Zealand who’s an excellent Rugby player while his wife is all about fitness.

So they came up with an idea to run an online fitness YouTube channel. Their channel wasn’t doing terrible… but it wasn’t thriving either.

Obviously, you have to offer something unique to make it big in this niche because you’ve got your P90X fitness channel, how to be buff channel, and many other channels that are big competitors.

But they knew that the market saturation is a myth and they just needed to hone in and niche down in the fitness realm.

It wasn’t until a couple years later they realized that even though they love fitness, they needed something more specific to focus in on.

Aside from being into health and fitness, his wife was also into dressage riding. It dawned on them that hey, we can turn our skills, experience and passion into a business without going head to head with some of these major players in the fitness niche.

So what did they ended up doing?

They decided to niche down from simply talking about and producing content on fitness to teaching fitness for dressage riders in the world.

Sure, there are fitness courses out there, but not for dressage riders. They knew the audience in their niche would be looking for solutions to become better riders, be it something to do with the horse, or their own personal fitness. Based on their area of expertise, they focused on the fitness of the riders themselves.

By speaking to their audience’s need to become a better dressage rider, that’s when their business exploded.

After niching down, they found an audience that wasn’t being served. Even if it’s a small audience, they narrowed down their niche which allowed them to keep growing more in their field and dominate that niche. They’re helping their target audience in ways that no one else can.

This is your game plan. Be a problem solver, crush that role, and continuously grow and expand your knowledge and skill in that narrow niche to constantly dominate it!

How to Find Your Niche in Business Doing What You Love

how to find your niche in business

Now let’s talk about another homegrown talent, Alex, who runs travelfashiongirl.com.

She became a content creator and carved out a niche that not many people go for when she found an intersection between traveling women and fashion.

Specifically, her niche was women who love to travel, who also love fashion, and only want help with ideas on packing light.

After niching down instead of talking about travel or fashion which are both extensive topics, she learned how to find a niche market product that only targets a particular group of people.

This made it easy for her to keep learning and become a pro in this niche while catering to an audience that wasn’t finding answers to their concerns about traveling and fashion before.

I’ve heard that her website is dancing to the tune of 700,000 to 800,000 visits per month. Holy crap!!!

She has one of the top 50,000 websites in the US and she’s absolutely, positively dominating that space because she’s speaking to a need that no one has ever addressed. And if ever they did, her approach is much more effective because she’s been passionate about this niche for decades.

When you get down to a small niche and speak to an audience whose problems remain unsolved, you are able to grow your business more quickly because there’s less people in that niche.

Use Some Tools To Help You Niche Down

If there are still too many things that can branch out of your niche, then you need to dig deeper and niche down further.

Go to StumbleUpon or Clickbank and check out niches and go deeper on those categories you can find.

Do market research with Google Trends and the world’s best market research tool!

No matter what you do, be sure the narrow niche you enter is something that’s within the realm of your skills, experience, and passion. Without these things, you’ll burnout and miss the first step in a successful online business!

Niche Down, Stand Out, Cash In!

The problem is not how crowded or saturated a niche is.

The reason why most businesses fail is they don’t niche down. They end up spinning their wheels, talking about diverse topics that they’re not even an expert in.

If you want to dominate in your niche, be the expert, be the problem solver that your target audience needs.

Niche down and find that sub segment or that sub niche that no one has penetrated but has a specific group of people who remain underserved.

Sometimes you have to just start a 90 day content challenge, take actions that force your narrow niche to emerge.

The magic happens once you are finally in alignment with that niche you are truly passionate, knowledgeable and experienced in.

Feel free to shoot me a comment below and let me know how I can help you further in niching down and finding your niche that will blossom into the lifestyle business you’ve always wanted.

About the Author Miles

Miles is a full time internet marketer who sells information products and a niche membership program with his wife, Melanie. Together they have created a lifestyle business that allows them true location independence and this blog where you get to see behind the scenes and see how they have built their online business from scratch.

Leave a Comment: