What Is a Niche

What Is a Niche in Niche MarketingWhat is a niche? When it comes to marketing, a niche is a subset of a larger market. But there is more information needed when answering the question, what is a niche. Does the niche have enough interest to make it viable from a marketing standpoint? Or is there so much interest and competition in that niche that it should be broken down into another subset, so a more targeted niche could be developed? Let’s look at an example. 

Is “Photography” a Niche or a Market?

A market generally has a lot of components or potential subsets. Let’s look at the market, “photography”. Photography is a market rather than the niche, and can be easily identified as a market by asking this question: Can photography be broken down into subsets? If so, each subset is a niche. And, each niche might be able to be fine tuned even further to identify a more specific niche that could be developed for profit. We can break down “photography” into “film photography” and “digital photography”. So, is “digital photography” a good niche, or can it be broken down further? Here are subsets to consider:

  •          Landscape photography
  •          Portrait photography
  •          Wedding photography
  •          Aerial photography
  •          Sports photography
  •          SLR photography

Each of those subsets can be examined to determine if they are adequate marketing niches, or should they be broken down further to become even more specialized and more fine tuned. For example, “sports photography” can certainly be divided into smaller subsets to find a viable marketing niche that would be worth developing into an actual business opportunity. Here’s how.

Identify a Market Niche with Keyword Research

These days identifying a niche is far easier than years ago because of the Internet. Most Internet exploring begins at a search box where the user types in keywords to examine whatever specialty or niche they find interesting. So investigating the viability of a specific niche can be done using Keyword Research.

For a niche to have the potential to be profitable there must be sufficient interest in the marketplace, so knowing how many people search in a particular area gives that information. If I have photography skills and I want to create a business using those skills, I might investigate subsets of sports photography to find a niche that I could work to develop. Maybe that niche would be “professional sports photography”. Maybe “youth sports photography” would be a better niche. And maybe either one of those could be broken down further to find an even more targeted niche. I don’t have to guess. I can do research.

I logged into my Google Adwords account to do Keyword Research here are a few interesting facts:

  •          “professional sports photography” is currently getting about 1300 global monthly searches
  •          “youth sports photography” is currently getting about 2400 global monthly searches
  •          “sports photography” is currently getting 201,000 global monthly searches
  •          “portrait photography” is currently getting 1,220,000 global monthly searches
  •          “youth sports action photography” is currently getting only 73 global monthly searches

When using Keyword Research for investigating and determining a viable marketing niche, keyword research often yields surprising results. Before doing my research I would’ve thought “professional sports photography” would be a more attractive marketing niche than the results showed. I would’ve guessed that “youth sports photography” would have been a more specialized niche and gotten many fewer searches than “professional sports photography”. And for “portrait photography” as a niche to have six times the number of searches as compared to “sports photography” is something I never would’ve imagined.

So when answering the question, what is a niche, it’s important to do research to find out what niche would be a viable and profitable niche. “Youth sports action photography” is certainly a niche, but it only is getting 73 global searches currently. To devote time, energy, and resources to develop that niche hoping to create profitability online would be futile.

If you would like to learn more about how to recognize a viable and profitable niche, watch the five minute video in the Phil Stone Training Videos that you have access to if you register here at the top right. That video is entitled, “What Is a Niche”. See the actual keyword research as it was performed in evaluating potential niches.