Questions

In marketing it's important to know who you're targeting so you can find them and create your brand messaging around them. In some cases the niche is in front of your eyes - in others not so much. I'm specifically thinking of B2B or freelance work - imagine a designer, or a marketing expert - how do they decide who to market to? Every single industry/company size or pretty much every business could use their services.. but how do they pick a niche to focus their efforts on, if they've been basically been working with a really wide audience and filtering on the basis of budget (like most in these industries)?

I wrote a three-part guide that discussed several niche selection techniques that you can use to find profitable products to sell. While you may not be looking for specific products but rather a niche, the principles in this series still apply.

The link to Part 1 of the series is: https://pezlogic.com/2018/05/20/tips-and-tricks-to-successful-niche-selection-part-1/

In Part 1 we review what makes a good niche and then explain the details of how to find a profitable niche. In Part 2 we introduce some powerful tips on how to refine your list, so you can pick out the best products and begin to narrow you’re your list. In Part 3 we go over how you can verify that your product ideas will actually sell. You can use the same tools and techniques in part 3 to validate that the niche you select is big enough to focus on.

It's important to start the niche selection process by letting your goals guide your decisions. The planning process becomes much easier when you know what you are trying to achieve.

Once your goals are clear it helps to brainstorm so you generate a lot of great product ideas. This is the time where you let your ideas flow, so you don’t limit your creativity. After brainstorming you begin to refine your list by using the tips outlined in Part 2. Refining your list will allow you to narrow things down so you can begin to verify that your niche ideas have a viable market.

As you travel down this journey, it’s easy to get lost in the weeds. Don’t be afraid to pause along the way to evaluate your progress. Remember, there’s no magic bullet in niche selection so taking a systematic and data driven approach will help you significantly increase your chances of success. At the same time, don’t forget to allow your interests and passions guide you. At the end of the day, you’ll want to be in an industry that interests you and you believe in.


Answered 2 years ago

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