Even after learning digital marketing, often people are not able to succeed in their career – do you know why?
Because they are not able to decide what work they have to do, in which field to go and which industry to choose.
Whatever work they like, they just start doing it – without understanding whether there is a demand for it or not.
Just like you see your Interest & Market Demand before doing any work, in the same way after learning digital marketing you have to select your field or subject in which you want to work.
This area, topic or industry is called Niche which is the basis of your business.
I have seen that new people do not know what Niche is and those who have it, they start working in it without proper research.
In the end, when they do not get any profit, then they feel that they have selected the wrong Niche.
That’s why it is important to choose Niche to run your business successfully and survive for a long time.
Through today’s blog – What is Niche, I am telling about some important factors necessary for Niche Meaning & Niche Selection, so definitely read it till the end.
Let’s start today’s blog by understanding Niche Definition
What is Niche – Niche Definition
Understand Niche in simple words, then it is such a Broad Market, Industry, Category or Subject in which there are only a few people and you target only those few people through your business.
It means to say that instead of doing all the things, you have to select a particular Industry, Category or Subject and work only in that.
Let us understand Niche definition through an example:
Let’s assume that you have learned digital marketing and have understood its different components such as Search Engine Optimization, Website Designing, Social Media Marketing, Blogging, Paid Ads, Email Marketing etc.
Now you also have the skill of digital marketing and understanding of all its components.
Now if you have interest in Website Design then it will become your Niche and on the other hand if you want to go ahead in SEO or Paid Ads then these will also become your Niches.
In simple words, whatever Subject or Topic you have Interest & Passion and you are starting work in it, then it will become a Niche of yours.
But, it is worth noting here that Niche is not selected only for Interest & Passion, for this many other factors have to be understood which I have explained in the section of “Niche Selection”.
To explain Niche definition, let me give another example:
When an MBBS student becomes a doctor, he has many options available – he can become a General Physician, a Surgeon or a Specialist Surgeon of any Body Part (Like Brain Surgeon).
Whose demand according to you will be the highest and who will be paid more for their service?
Of course, Neurosurgeon ‘s Demand will be highest and he will be given good Payout.
In the same way, you also have to create your specialty and then on the basis of that specialty, you have to solve their problem by targeting a particular class, category or market of people.
This specialty is called your Niche which separates you from the crowd and shows you as an expert.
I hope that with these examples you must have understood what Niche is.
After knowing Niche Meaning, the next most common question is why Niche is important and what are Niche Selection Benefits.
Niche Selection Benefits
To understand Niche Importance, let’s take another example related to digital marketing.
Let’s assume that there is a digital marketer who has learned all the verticals of digital marketing and he alone provides all kinds of services, which include – Website Designing, Content Writing, Video Editing, Email Marketing, Search Engine Optimization, And PPC Advertisement.
He also has some years of experience and has also worked with some clients.
On the other hand, there is another digital marketer who had learned all the verticals of digital marketing well in the beginning, but has given a lot of time to learn and understand any one skill deeply and has acquired expertise in it.
With this he has now become a T-Shaped Digital Marketer.
T-Shaped Digital Marketer simply means that in the beginning he/she learned all the components of Digital Marketing, which is the Top Horizontal Line of “T”.
After this, he practiced a lot in one particular skill (Let’s Say Email Marketing) and became its expert. (Vertical Line Of “T”)
Today it has been many years since he became an expert and he has helped many businesses to grow their revenue.
Now let’s assume that you are a B2B businessman and your customers include decision makers from different companies.
Today Email Marketing is the best medium to reach those Decision Makers .
Now tell me which of the above digital marketers would you choose?
You should choose the second one i.e. Email Marketer, because he is an expert in his Field, Subject, Industry or Niche.
Now from this example we get to learn many things which explains why Niche is important, some of which I am mentioning here.
Less Competition & High Demand
In the above example, First Digital Marketer can provide all types of services, out of which he will be good in some and not in some.
But, he will have to work hard to prove himself as a Professional Digital Marketer and to reach the High Paying Client.
At the same time, the Email Marketer will be able to target High Paying Clients due to his Specialized Skill and his Demand will also be high.
You get recognized as an Expert
Just as people prefer to go to a Hair Specialist instead of a General Physician to get their Hair Fall treated, in the same way by starting a business in a particular Niche, you can attract people who are especially interested in your products or services. Searching.
By working in a specific niche, your image becomes that of an expert and people not only buy your products or services, but also like to consult you.
Able to charge Premium Amount for your product or service
Having specialized skills increases your demand and businesses need people like you who can solve their problems.
As there is a principle “when the demand increases, the prices also increase” – this principle applies to you too.
People get ready to pay premium amount to buy your product or take service.
Not only this, you can also earn money from Consultation and can charge several thousand rupees for just 30 minutes of Consultation Call.
Your focus remains on a particular set of audience
It is better to sell a set of audience than to sell a product or service to all people and earn profit from it.
Targeting a particular set of audience gives you many advantages:
- You understand your Target Audience better and give them Exact Solution.
- You can prepare your products and services according to their Interest, Passion, Wish, Problem.
- You have very little need to do Trial & Error.
Are able to strengthen the relationship with your customers
After selecting Niche, your focus on your Target Audience starts increasing.
You are able to give them more time, understand their exact problem and guide them, which makes it easier for them to reach their goal.
By doing all this, you start building a strong relationship with them and new clients start coming to you from Referral & Word of Mouth.
So till now you must have understood what are Niche Definition & Niche Selection Benefits.
Let us now talk about How to Select Niche or how to choose a Profitable Niche.
How to choose Niche – 5 Finest Tips To Select Your Niche In Digital Marketing
After understanding what is Niche, it is the turn to understand the next question “How to choose Niche” step by step, so that you will get a lot of clarity in Niche Selection.
I have often heard people saying that you should gain expertise in a particular skill set, after that you will automatically know what your Niche is.
But, is it right to choose Niche in this way?
Probably not, because you have gained expertise in a particular skill, but is there market demand for that skill or not?
If people will not need it in the market, then there is no use in moving forward in it.
Similarly, there are many other factors which are important for Niche Selection.
These factors are known as 5Ps which are as follows:
- Passion
- Problems
- Persona
- Potential
- Payment
Let us now understand them in detail.
Passion
The first of How to select Niche is Passion, ie your interest, enthusiasm or passion.
You have to find or understand your passion, for which you can do the following exercise:
- You see in which topic or subject you are interested or what you like to get information about.
- Also see what kind of work you like to do in your spare time.
- If using social media, see what kind of content you like to see on it.
- Also know what kind of books you like to read, watch videos and listen to podcasts.
- In the end, make a list of all the topics of your interest which will prepare you for the next step.
Many times there are some topics which at a glance feel that “now I have to do this ” – you do this by being inspired by someone or simply you have liked that topic.
But wait, you have to avoid things that you like at a glance because they are only for some time, as soon as your motivation is over, your passion towards that topic will also decrease and you will leave it in the middle.
That’s why don’t count such Topics or Subjects in Passion.
Problems
The next P in Niche Selection is Problem.
Your problem is not being talked about here, nor is it being said that what problems you are going to face in following your passion, rather it is being talked about the problems of your audience.
You have to see which problem of your audience you can solve with your passion.
See how your passion can help them and to what extent you can solve their problems.
Now the question is how to know what are the problems of the audience?
For this you can take the help of Digital Platforms, such as –
- You can follow Facebook Groups & Pages related to your Selected Topic and see what people are posting and what kind of questions and answers they are asking.
- You can get information related to your topic on platforms like Reddit & Quora.
- By searching online with the help of Google, you can read Websites & Blogs and understand what are the exact problems of your Target Audience.
For Eg My Passion is Teaching, where I teach Digital Marketing and through that I solve the problem of people earning money.
Similarly, you also have to keep Clarity in your Passion & Problem.
Persona
Persona means the character of your target audience.
Defining Persona means that make a Customer Persona of the people whose problem you want to solve.
You can use the following factors while creating a Persona:
- His Age & Gender
- their demographics, ie where they live
- His Financial Condition
- What work do they do – Self Employed, Businessman, Employee, Retired, Etc.
In this way you will get your Customer Persona and you will be able to define your Target Audience.
Your Target Audience should include people who resonate with your words, your content and your mission, with this you will be able to create better bonding with them.
One of the best ways to create a persona is to create an image of an imaginary person.
When you create an image in your mind, then while designing your product or service and while delivering your content, you think of that Imaginary Person in your mind.
By doing this, it seems as if you are sitting in front of that person and introducing him to your product or service and explaining the benefits.
Hope you are getting Valuable Information about these Ps of how to choose Niche. Now let’s move on to the next P.
Potential
In Niche Selection Process, you also have to take care of Potential.
You have to see whether the problem of the target audience you are going to solve through your passion, whether that complete process has any potential or not?
That is, does it have Market Demand or does the market need it or not?
Many times it happens that people start working on any topic by listening to their mind without seeing the potential, but success does not seem to be in their hands.
Whatever product you are selling or providing service, if there are no people to buy them or very few people, then your business will not be profitable, rather you will have to spend some money from your pocket.
Therefore, to provide solutions to the people of the right Topic, Subject, Industry through their passion, it is necessary to see its market demand, for which the best way is to do research.
Apart from this, you can give your audience a Google Form in which you can tell which product you are developing, whether you are going to offer service or what you are going to teach.
Payment
The last and most important step of how to choose Niche is Payment.
If NGOs are removed, then the motive behind doing almost every work is to generate profit.
Now whatever topic you have thought of and through your passion you have decided to solve the problems of a specific set of audience, you must have something left over from that complete process.
But there must be a giver to save something…
That’s why you must see that whatever work you are going to do, will anyone pay for it?
Will anyone buy your products and services?
What value will you add to them that people will buy them and buy them at the price fixed by you?
Also see how much Amount other people are charging for Similar Products & Services and are they getting good Amount?
When you add these five P’s then the final result of all these is your Niche in which you should work.
I hope that till this point you have got the answers to the questions like Niche definition, Why Niche is important, How to choose Niche.
Let us now take an example and understand how you can apply these 5 tips?
Let us assume that you like watching Finance Related Content and you have a lot of knowledge about Stocks, Mutual Funds, Trading, FDs, Bonds, Gold etc.
Now see how to apply these 5Ps.
Passion – Your passion is to receive finance related information and read about financial instruments.
Problem – People are only aware of saving in the bank due to which their money keeps decreasing instead of increasing due to Inflation. You have to solve the problem of earning money from their money.
Persona – In this you can keep those people who do not have time to pay attention to their money, like Salaried People, Local Shop Owners, Etc.
These people often consider it safer to keep their money in the bank.
Potential – After the arrival of Covid, the importance of money has increased even more, so if you are telling the ways to grow money, then its Present & Future Potential is very high.
Payment – Whether you want to bring a course or teach the audience through Content Creation, you will not be short of money.
People are becoming aware today and want to know what are the financial instruments to beat the inflation rate, where we can invest money, how to save our tax, do retirement plans and how to create long term wealth. can do.
In this way your Niche became Personal Finance, where you are teaching people to manage their money properly.
Similarly, you can reach your Final Niche by applying these 5Ps in your Selected Topic as well.
What is your Niche, definitely tell me in the comment section.
Conclusion – What are the niches?
Niche is the cornerstone of any business on which the entire business rests.
Niche is also often called Topic, Subject, Industry or Specialty, which is very important to define properly.
By defining Niche, you can easily target a particular set of audience and build your image as an expert.
Those who start business without properly defining Niche, they have to face failure at one stage or the other.
That’s why you should know what is a Niche and how to choose Niche.
Through today’s Detailed Blog, I have tried to explain Niche Meaning, Niche Selection & Niche Importance in detail.
By reading this, you must have got an idea of how important it is to have a specialty in any field.
