One of the first things you learn when you enter the online world is that you must choose your niche. And what the heck is that? So, I thought it would be worthwhile to write this article about the question of what’s a niche market? If you don’t know what it is, how, then, are you supposed to choose yours? Read on and we will explain.
What exactly is a niche?
The dictionary describes it thus:
- An ornamental recess in a wall or the like, usually semicircular in plan and arched, as for a statue or other decorative object.a place or position suitable or appropriate for a person or thing:to find one’s niche in the business world.a distinct segment of a market.
- A place or position suitable or appropriate for a person or thing.
- A distinct segment of the market.
Ah! Now we’re getting somewhere. Therefore, in the case of the online world, a niche is a distinct segment of the market. Now that makes sense, doesn’t it? Let’s discuss some of the niches that are available to those working in the online world as affiliate marketers.
Hold on a minute! If you’re not sure about what’s a niche market, do you even know what affiliate marketing is?
Understanding Affiliate Marketing.
Affiliate marketing is probably the easiest and best way of making money online. It is also easy to explain and will help you to understand why you need to choose a niche market.
The first thing that happens after you have decided upon your niche, is that you establish a website. Then you will promote and market the products or services of other companies on your website. You will need to write quality articles about the products you are marketing.
Many major companies have affiliate programs that you can join. Others manage their programs through affiliate networks. Affiliate programs and networks are free to join.
You are provided with a personally identifiable link to add to your content. The merchant tracks the link and once a customer purchases a product with your link, you receive a commission from the merchant.
Pretty simple, isn’t it?
The Top Niche Markets For Affiliate Marketing.
Here are some of the most profitable broad-based niche markets. We will break these down for you later into narrower niches in which affiliate marketers can find suitable products to promote.
- Fitness and Weightloss – This, of course, is a huge market that is incredibly popular. Most people want to lose weight at sometime in their lives. Many people want to get fit and try out new equipment or gyms. There are a wealth of niches within this broad market segment.
- Health – While this is closely related to Fitness and Weightloss, it is a little more refined. People are very concerned about maintaining their health. And most people will go to great lengths to find good products for a healthy lifestyle.
- Pets – Everybody loves their pets. Dogs and Cats in particular, so there will be a myriad of opportunities within this sector to fine-tune your particular niche.
- Personal Development/Self-Help – As human beings we strive to be the best of ourselves. We want to attend seminars and workshops, read books listen to audio and watch video. All aimed at self-improvement.
- Fashion and Beauty – This speaks for itself. We girls are always looking for the latest fashion and beauty products to enhance our appearance.
- Making money online – Everyone now wants to get into the online world and learn how to secure their future with passive income. This is an opportunity not to be missed once you have the expertise to promote this type of revenue.
- Technology and Gadgets – Technology is growing exponentially and new gadgets are being invented on an almost daily basis. Those technocrats among us are always looking for the next new thing.
- Sports and Hobbies – The list of these is almost endless and you should have no trouble finding suitable products to promote to these enthusiasts.
Refining And Choosing Your Niche.
All the themes we listed above are broad market segments. Now we want to give you some ideas to assist you with choosing your niche within each segment. In this way you will fully understand the question that is the topic of this article – what’s a niche market?
Here is an infographic that describes how you refine your niche.
Fitness and Weight Loss (Men or Women):
- Weightlifting equipment
- Cardio equipment
- Muscle-building supplements and food
- Special Diets, Paleo, Atkins, Keto etc.
- Weightloss supplements
- Weightloss products, such as coffee
Pets (Dogs, Cats, Other Pets):
- Pet Toys
- Keeping Pets Healthy
- Pet Food
- Tips and Tricks in caring for pets
Fashion and Beauty (Mostly for Women):
- Fashion Clothing
- Fashion Trends
- Hair Care
- Skin Care
- Beauty products
Technology and Gadgets (Personal or Business):
- Smart Phones
- Home Security Devices
- Other techie gadgets
Health (Men, Women or Children):
- Herbal remedies
- Healthy eating
- Alternative medicines
- CBD Oil
- Health supplements
- Remedies for disease
- Mental Health.
- Quit Smoking
- Relationship advice
- Motivational resources
- Self-Help Courses and books
Making Money Online:
- Affiliate Marketing
- Social Media
- Online Advertising
Sports and Hobbies (Men or Women):
- Golf equipment
- Tennis equipment
- Fishing rods
- Gardening tips
- Photography equipment
- Hiking equipment.
Now You Know The Answer To What’s A Niche Market?
When you finally get around to choosing your niche, please don’t choose it just because it is popular and profitable. As an affiliate marketer, you are going to write a huge amount of content about your niche. Therefore, you should choose something about which you are passionate and can write volumes.
For instance, apart from this website, which is about affiliate marketing, my real passion is golf. After reading this article, I’m sure you realize that Golf is a very broad topic. So, I set about refining it and decided upon Women’s Golf. This, too, was quite broad and I finally decided on my domain as What’s In The Golf Bag, Girls? Then, I focused first on the best golf balls for women, scaled up to golf clubs, retrievers, range finders, tips for beginners, the history of women’s golf and even more.
Understanding The Online Shopping World.
If you are wondering why you should get into the online niche product business, here are a few statistics. It is estimated that 2.14 billion people worldwide shop online. The online shopping market is the biggest market in the world. The estimated annual spend by these online shoppers is $1.66 trillion.
There is no question that the emergence of the Covid-19 virus forced shoppers to change their habits. Online grocery shopping alone increased from 22% to 42% of the US population in a two-year period. That amounts to around 140 million people shopping online for groceries.
Many people have abandoned physical shopping locations because of the extra costs they must pay for products. In the online world, most products are sold at a lower price and, in many cases, with free shipping. A bargain indeed – why would you want to shop any other way?
Getting Started With Your Online Business.
Now that you have the answer to “what’s a niche market?” as well as some suggestions for niches, you should think about getting started.
I wish I could tell you that it is all that you need. However, the affiliate marketing business, while simple to explain, is not quite so simple to accomplish. You will need some training and education to help you along the way and we know the best place for you to go. Wealthy Affiliate provides a comprehensive training program for would-be affiliate marketers. Click on the image below for further information and to get started.