You have probably heard it said that if you do what you love, the money will roll in.
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.
I’m not saying that it can’t be done…
I mean who knew that the Pet Rock would have such a following, or the Rubik’s cube could hold a person’s attention for so long, inspire competitions, and large convention gatherings? So just being unknown or obscurity doesn’t mean you can’t make any money in something off the beaten path – its just that the probability of success is lessened.
I’m going to go out on a limb here and speculate that you are on my web page because you did a search on how to find a niche to make money in and not on how to find a niche that no one else cares about.
How to Find a Niche you Will Love
The BIG THREE money making niches are:
1. Fitness / Weight Loss
2. Romance / Relationships
3. Finance / Making Money
These ones need to be narrowed down into sub-niches. If you try and market to the top level you will loose your shirt – I guarantee that.
After exploring the top three you may consider those things that can never be satisfied. The crazy hobbyists! Golfers, model train collectors, comic book and Sci-fi enthusiasts, scrapbookers, pet owners, kit builders like jig saws, robots, mechanical sets, airplanes, and on the list goes.
The types of hobbies are nearly limitless. To get you started on research one of the best places I like to look is to check out magazines you can get a subscription for.
Remember though – you want to make sure there is stuff to sell them that will feed their passion too.
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 (see what I did there?). Weight loss can be narrowed into several areas of focus. Men or women, age groups, dieters, exercisers, time restraints (ie have an event to get to in a few weeks), the number of pounds to lose etc.
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 will greater.
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.
If 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.
More Money Stuff – ☏