Sure, we have all heard of Niche businesses online. But does anyone really know what it means? Or, what the advantage is to have a niche market online business? I am here to show you the answers. In this course, you will learn what a niche business is, how to find your niche, and how to position yourself as an expert in your field.
When you go global and work online, you benefit from identifying a smaller market. Your favorite client has specific wants and needs. In an online environment, you can find many customers, just like that. And, by having a specific niche client, we can more easily anticipate and satisfy their needs.
Find Out What Running a Niche Market Online Business Can Do For You
What is Your Niche?
An important part about business is discovering what niche you want to work with, and ultimately, who you want to serve. In this video, the importance of a niche, how to get over your fears of “niching”, and the main benefits of finding the right niche.
There are several ways to arrive at your niche. One is looking at gaps in your market. Find out how to answer questions in your area that no one else has.
Another idea is making a new combination. Can you put two different ideas together to form something new? Or, try asking more and more specific questions to determine what area you want to work in.
Lastly, you can try to think of who it is you want to work with. Maybe your area of expertise can be directed at a specific demographic. Watch the video and find out how to land on your niche now!
What Is Your Niche? https://youtu.be/KXOoIproEAk
Homework:
Go through your Niche Checklist Items and start defining your Niche Now!
USP and VFF
While determining your niche, it is key to understand what sets you apart. You are now putting yourself out in to a global market, and you must be clear about how to stand out.
By creating a USP, or Unique Selling Proposition, you can become focused on how to position your business for future success.
Also, in business, it is important to know what our customers want. Pareto’s Principal (also know as the 80/20 Law) reminds us that most of our audience only focus on about 20% of our total efforts.
What this means for us is twofold: One, we need to know what those Vital Few Factors (VFF) are. And, two, if we focus on honing in on them and continually refining them, we will have over 80% satisfied customers.
Six Sigma is the process of continually refining and improving our results. In this case, we are basing it on Defining our Niche, Measuring & Testing our results, Analyzing, and making continual Improvements.
USP and VFF https://youtu.be/lgopRD55wfU
Homework:
Go through your Niche Checklist Items and write down what your USP and VFF are. These make you different and help to set you apart from others in your industry.
Market Research and Keywords
In traditional business models, identifying and researching your Target Market has always been part of business planning.
However, now that markets are online, the rules have changed. In this video, we discuss the difference between old market research, and niche market research online.
Find out what keywords your audience is searching for, and how to go about identifying search phrases that are important to your market.
This will help you with your positioning, finding a high ranking URL, and drive traffic to your site. We need to know these words in advance to have an idea of our existing niche and ensure a market for our business model.
Market Research and Keywords https://youtu.be/CDMlQIGZ0Mo
Resources:
- Google Keyword Tool
- Keyword Research & SEO Webinar replay with Pat Flynn
- Market Samurai keyword research tool
Homework:
Go through your Niche Checklist Items and figure out what keywords people are looking for in your niche. Determine how you can use this information to up the SEO on your site, and keep your readers coming!
Attract Your Ideal Clients
In our last video on finding your niche, find out what to do to start attracting your ideal clients.
We’ve figured out a lot so far: what type of niche, what our USP and VFF are of our audience. We’ve even discovered what keywords they’re searching for.
But, it is also important not to lose site of who we want to work with. When we work with people that we enjoy, our lives and business benefit. We stay inspired, get more done, and are motivated to keep up the hard work.
Take some time to identify who your ideal clients are, get thinking about their personality, values, and goals, and know who it is you want to spend your time with. After all, as business owners, we get to choose!
Attract Your Ideal Clients https://youtu.be/L7a4X3oMCbU
Homework:
Being who you really are will help you to attract the clients you really love. Spend some time determining who your ideal client is, and make your material suitable for exactly that person… and then they will come!
