(Ideas + Research + Validation)
You’ll acquire and apprehend the following:
— Understand the ‘market’.
— Learn the narrowness of ‘market’.
— Aspects of success – Passion & Consistency.
— Your motto is to provide solutions – Products solve problems.
— Do not arbitrate your customer’s buying actions.
— Reverse Market Research.
— Root Questions Tactic.
— Niche Discovery + Validation.
— Market Samurai Video Explanation (150 Minutes)
By the time you finish this post and go to the next one, YOU should be through with the selection of your niche and its validation.
We all know what “Market” is!
A market is a place where all the selling and buying takes place for mutual benefits. The market has many different sub-segments and one of them is “niche”.
Niche is characterized as a specific (precise) segment of a market.
Conventionally, in our online world, we are taught to choose a best-selling product and then look for customers to make a sale. Many people have employed this route to get sales, but most of them never succeed.
There is a reason behind such failures.
Whenever you choose a product, the market or segment of a market (niche) is already chosen by virtue of choosing a product.
Let me explain…
When you choose a product called “7 Psychological Tricks That Keep You Motivated to Lose Weight”, you have already chosen a “Health & Fitness” market and “weight loss niche”.
Please note the difference between the market and the niche here. I am referring to ‘Health & Fitness’ as a market and ‘weight loss’ as a niche.
A niche is a sub-segment of a broader market. Things will get clearer as we move on.
You have not chosen a market or niche yourself as a choice but you have been forced into it by virtue of choosing a product.
The next step for many people will be to go to the online world and look for those hungry buyers (customers) to whom you can sell that book. Isn’t?
This is ‘Imperfect and Inconsistent’ approach which nowadays do not work, at all.
One thing you need to keep in your mind, always, that your prospects are on the internet to find a solution for their problem and most of the time, they look for free information.
They do not come on the internet to get bombarded with all the great offers that we have in our ‘pocket’.
To get the maximum of your effort, you have to demonstrate that you are an authority within your niche and that you are capable of helping them.
So your approach is supposed to be completely reverse than the conventional market approach.
You should get prospects first, ask them their problems and then provide solutions which they are looking for. This approach can give you maximum returns of your effort.
You’ll get clarified as we move on, why to use the reverse market route to make money, easily!
Before we move on… I want you to realize some nitty-gritty of marketing.
The market is something huge, extensive and quite generalized.
According to me and all those successful internet marketers, no one should target a market as it is always mega-hyper competitive.
Example of Market is Health & Fitness.
We have “Big 3” in the Market.
- Health & Fitness
- Business & Money
- Dating & Relationships
We need to call them Big 3 because these markets cover almost 90% of internet income and hence the name, Big 3.
As I told you earlier, it is not easy to target Market as a whole, and hence you need to target a particular and smaller segment of a market, often termed as “niche” or I would say, we need to target a specific category of people within a broader market.
It is this smaller segment that we refer to as “market niche”.
From now onwards, please note, whenever you get across a word “niche”, you must refer it as a smaller segment of a market.
The real battle of making money is being fought within this smaller segment of a market.
Have you ever heard that people are competing in a market for selling a health book?
You may have heard that two people are competing to sell a book on weight loss. So it is within the niche, where the competition takes place.
I have a surefire way to get all those barriers (competition) broken. For that, you will have to narrow down your choice to choose a niche.
Below diagram shows the most important aspect of how you can narrow down your search and choose a hyper-focused niche.
Let me explain…
The general market that we see is called ‘Market’ or ‘Mass Market’.
Examples of Mass Market are Health & Niche, Business, Automotive, Insurance, Home & Pet, Communications, Travel, Recreation, Self Improvement and many more…
To get more such examples of a mass-market, go to ezine articles (it is still live) and you will find them as shown below:
All the above could be termed as Mass Market.
You cannot target the Mass Market as a whole because ultimately you’ll end up resulting in no sales. Why? It is discussed later.
You need to narrow down to ‘Mass Market Niche’.
For you to choose Mass Market Niche, you first have to choose a Mass Market.
Mass Market Niche is a narrowed-down segment of a specific Mass Market.
For Example…If you choose ‘Arts & Entertainment’ as your Mass Market, then Mass Market Niches could be Photography, Painting, Poetry, Movies, Music, Graphics, etc.
If you choose ‘Self Improvement’ as your Mass Market, then Mass Market Niches could be Motivation, Hypnosis, Memory Training, Mind Development, Anger Management, Inspirational, Self Esteem, Stress Management, etc.
You have got the idea now…!
After you have chosen your ‘Mass Market Niche’, you are yet to narrow it down to get a “Narrow Niche”.
Narrow Niche is a further narrowed segment of a Mass Market Niche.
If you choose, ‘Photography’ as your mass-market niche, then your narrow niche examples could be… Photography cameras, photography for beginners, photography for kids, photography tricks, and many more…
If you chose, ‘Hypnosis’ as your mass-market niche, then your narrow niche examples could be… Hypnosis and weight loss, hypnosis for depression, hypnosis for sleep, hypnosis for anxiety, hypnosis for psychology, hypnosis motivation, and many more…
So how do you choose Narrow Niche?
I am glad you asked!
I hope by now, you know how to get Mass Market Niche? If not, follow the steps below:
Go to ezine articles and hover over the categories, you’ll get multiple ‘Mass Market Niche’.
See the diagram below…
To choose ‘Narrow Niche’, you can head over to https://ubersuggest.org and type in your chosen ‘Mass Market Niche’.
You will get multiple variations to choose from, for your ‘Narrow Niche’.
This narrow niche becomes the basis for you to target a certain category of people and also to buy a domain name (if you are interested in buying Exact Match Domain)
Our narrowing-down process does not end here. We still need to go further and choose a hyper-focused niche.
Hyper focused niches are chosen to structure your blog or website with categories. Hyper focused niches will constitute the categories.
Your Hyper Focused Niche could be following as per the examples chosen above.
If you chose, Arts & Entertainment (Mass Market) >>> Photography (Mass Market Niche) >>> Photography for beginners (Narrow Niche) >>> tips, cameras, tutorials, digital, DSLR, books, equipment, etc. become your hyper-focused niches.
These hyper-focused niches are to be taken as categories for your websites.
When you target certain category of people within a hyper-focused niche, obviously the target audience reduces but your ability to zero-in, your ability to ‘talk-to’ your customer increases very much and chances of converting visitors to customers, increases.
So, the more specific and narrower you go, the better your ability to target your proposed customers.
90% of people out there target the mass market and they end up in frustrations.
So, always go deep and then, wide.
We went deep in terms of narrowing down the Mass Market to Mass Market Niche and then to Narrow Niche
We went wide by getting Hyper Focused Niches to get categories for our website.
Got it? Say… YES!
Now your own ability to understand the wants, needs and frustrations of your proposed customers will determine how perfectly you can find the niches within, to target.
Aspects of success – Passion & Consistency.
You should always start or select your niche based on your passion.
Because that is something you are passionate about!
If you have a ‘LIKE FACTOR’ towards something, then obviously you will perform better or else you will feel as if you are doing 9 to 5 job.
On the other hand, if you like or love to do something, then this will create a whole new perception in your mind and you would want to progress and know more about your passion and ultimately you will end up knowing more or sometimes could become an expert in something that people out there are looking for (solution).
If you chose a niche purely to make money, then I bet, you will definitely fail at one or the other stage.
It is not all about money; it is about providing a solution to a specific category of people who are suffering from a certain state or condition.
Your passion will also enrich ‘CONSISTENCY’ and you would love to maintain it because you want to become an authority in your chosen niche.
As you know, online marketing is supposed to be a lifestyle business. You are always supposed to enjoy it as you move along building it.
Products solve problems
For some reasons, you may have bought at least one or two things on the internet. Ask yourself, why did you buy that item?
The answer will be obvious to you. Because you thought it will solve my existing problem and hence you bought it.
The same thing is applicable here with us.
The day and time you understand that your products are meant to solve someone’s problems, you will excel over your competition.
No two ways about it.
And with this same perception, you will also be able to nurture the relationship with your existing customers, very easily.
Most internet marketers out there just want to sell; they put all their efforts into selling. They have never tried, understood or read a mind of his/her customers thereby resulting in failure.
Most people fail because they do not understand the concept of the internet. People search to get a solution and they do not hang on the internet to be bombarded with baseless offers.
Customers nowadays are much smarter than what we think and believe they are. The world has become transparent. Your potential customers are searching for something in search engines to find a solution and nothing else.
The solution can be anything… an answer to their queries, relief from pain, end of their frustrations, peace of mind, getting rid of something, etc.
People buy products to end their problems. They buy thinking it as a solution to their problem or to achieve the desired result.
Most big companies use storytelling techniques to enhance and facilitate a sale. We will cover ‘storytelling’ in our later posts, but just to get an insight, watch the video below why we should use Story Telling in our venture.
More about storytelling, in our later posts.
Customer’s Buying Actions
Do not ‘arbitrate’ your proposed customers’ buying actions.
Read it once again.
It is not your job to judge your customers by experiencing or knowing their buying actions, instead, your job is to understand your customers in such a way that you should be in a position to propose a better product for them.
Do not ever make a mistake by judging them on what they buy.
Once your customer has made up a mind to buy something, they will definitely buy it. The question arises here if they will buy from you or from someone else?
For Example Survival 2012 Guide…
People never thought that some of us will ever release books on how to survive 2012 devastating natural disaster, that was to happen in December 2012. People bought the book out of curiosity. It doesn’t matter what we believe or think, once a customer has decided to buy something, he will definitely buy.
There are categories of people who bought it, thinking if the world is going to end, how should I survive myself?
The same customer can also buy a book called “Beyond 2012: Why World Didn’t End!”. It cannot be justified, but there is no harm in proposing it to them.
So you cannot and should not arbitrate your customers by their buying actions but you should put yourself in a position to understand your customers so much, that you should be in a state of proposing them another (better) product.
Reverse Market Research
Time has come now to work on your PC and get moving.
This is the most important step and highly critical. If you choose the wrong niche then there is no U-Turn, you have to start from scratch all over again. So choose your niche wisely.
If you get your niche right, then half of the battle is won. Things get really easier after it.
There are loads of strategies to help you find “hot” niches where people are experiencing urgency, emotion and pain, niches that are emotionally driven. It’s only you to be somewhat creative. Induce creativity in yourself and use it to your maximum potential.
Reverse Market Research (RMR):
Almost all “conventional teachings” teach you to find a best-selling product and then go looking for customers who want to buy from you.
There is a problem here. The problem is that the product itself fails to provide much information on the insight of solving a problem or providing a solution to the pain, a customer is experiencing.
The main (real) reason on why customers are buying a product remains ‘mystery’ to you unless you are looking (searching) for the product yourself.
The responsibility is left to you to go and try and find a traffic source (an audience) to the product you think is selling like a hot cake.
That is the main reason why picking a product first is an ‘imperfect and inconsistent’ approach.
Another major reason is that some of the best, most lucrative and profitable niches are still unknown to you right now.
The big question arises here… how do you research or find something that you don’t even know, exists?
How do you research (go looking for) an emotional pain point without first knowing what it is?
We will do it… just here… just now. Here is how!
We will ask Google to do work for us because it is smart. No doubt about it.
It is better for us if ‘smart’ does the work for us. Isn’t?
We all know that Google is ‘User Driven Environment’ and whatever is being searched on that platform, is exactly ‘what is in your customers’ head’!
Read it again, if you didn’t get it the first time.
It is your audience who is searching for a particular solution — and not you.
The audiences (your proposed customers) are already aware of what they are looking for.
This is where our niche market research starts trying to identify these people who are performing specific searches.
Again…we actually do not know what they are searching actually for. But utilizing some key strategies and out-of-the-box thinking, we can perform ‘intelligent guess’ and get to know what our customers are thinking!
Yes, we are now going to guess, but intelligently.
Root Questions Tactic.
How to ______________?
How to get ____________?
What we have done above is, we have guessed…yes but ‘intelligently’, the first part of a question, which a searcher is likely to ask, in Google.com
The second portion is what we want ‘Google’ to answer using their own smart algorithm.
We are going to use a ‘Wild Card’ here, a ‘joker’ to make Google, fill in the blanks.
The Wild Card is “*”
How to “*”
How to get “*”
Go to Google.com and try it for yourself. Yes, do it now. Just now and see what you get!
The good thing… it never runs out. It goes on giving you different niche ideas and varied variations.
So the more you come up with your own root questions (Root-Qs), the better you get golden niches.
Below are some of the intelligent guesses…
How to _______
How to get _______
How to loose ________
Where to buy ________
How to remove ________
How to cure ________
How to jump ________
How to reduce ________
How to start ________
How to increase ________
How not to ________
How to learn ________
How to get rid of ________
Where to buy ________online
How to overcome ________
How to make ________
How to quit ________
And many more…
Instead of blanks, you have to make use of “*”.
You can make use of what, where and why kind of questions too, to dig in and get some golden ‘narrow niches’.
There are several websites which can give you major idea on choosing your own Mass Market and Mass Market Niche.
Below is the list of websites which will help you choose your desired niche.
3. Uber Suggest
Please remember one thing, you are not searching for a product, but generating niche ideas.
Before finalizing on a niche, there are some validation checks which are mandatory to identify and know your target audiences in deep.
- Emotional Pain
- Long Term Plan
1. The keyword that you are making use of as a narrow niche and its corresponding hyper-focused keywords…are they indicating some sense of urgency or not!
If a person does not show urgency while he is searching for a solution, it won’t be possible for you to make a sale almost immediately. Hence urgency factor is very much important.
For you to find out if the keywords being used are of urgency factor or not, head over to Google Keyword Planner and find out the related searches and see if there are various keywords to portray urgency or not!
Most of the times, our own developed sensible mind will help us to figure it out.
If a person shows his emotional attire to solve his pain immediately, then you will win almost instantly.
2. Is there an emotion attached to his problem or not? That is the question you must ask while choosing a keyword.
Human beings are emotional animals. The more emotions attached to the problem, the more your ability to make a sale.
So ensure the niche you choose to have an emotional touch.
3. Competition is good. You will get the answer for it in the next chapters but if there is no competition, how will you be able to get benefit from your competition.
If there is a competition, that simply means money is to be made. When money is to be made, then you should be there. What do you say?
4. Is there a possibility of a long-term relationship with your target audience? VERY IMPORTANT.
It is very much required if you wish to make money again and again from the same customer. Here we will make use of our open-loop email marketing sequences to ensure one customer pays us again and again.