When somebody asked me what is the best niche? I instantly thought: wow, do I have good news for you…
… the fortunate reality is that there are many best niches.The trick is not in knowing what the best niche is; the trick is in knowing how to choose the best niche.Click To Tweet
So how do you set about finding out what the best niche is?
That’s easy. And…
…that’s exactly what I’m about to cover in this article.
Here's what we're going to be covering...
How to Find Your Niche in Business…
In the car game, they say your profit is made when you buy the car (i.e. the less you pay for it, the more profit you make when you sell it). I’m going to borrow from this wise observation to say:Your success is determined largely when you choose your niche.Click To Tweet
That’s how important choosing the right niche is.
Like I said, there are many great niches, but let’s begin with the actual question I was asked since the answer applies either way.
So let’s get back to the question: what is the best niche?
That’s a very concise question. And I have a very concise answer for it:The best niche is one with a passionate audience who invest.Click To Tweet
When it comes to profitability, you want your audience to take action – whatever that action is.
Some examples of an action you may want your audience to take are:
- subscribing (e.g. to a blog or newsletter)
- following or sharing something (e.g. on social media)
- buying something (e.g. from a landing page)
The action is irrelevant: it’s just the objective that you’re trying to achieve.
So here’s the thing…
For your audience to take the action(s) that you want, they need to be passionate about the topic and they need to be willing to invest money in that topic.
Let me give you an example of an audience that has passion but does not usually invest money:
I’m not talking about PC gamers (that’s an example of a great niche because that audience is passionate about gaming and they spend money on expensive hardware to up-speck their PCs in order to run the latest games.
Rather, I’m talking about the other extreme: the folk who are in car boot sales looking for floppy drives (remember those?)
Now, there’s no denying that they’re passionate about PCs and about the subject as a whole…
…but they’re interested in keeping their old hardware alive, not in buying new things.
An Example of a Great Niche
An example of a great niche (one that you may call a ‘best niche’) is golf. There’s an audience that is passionate about the topic (golf) and who is willing to invest money in the topic.
Golf fans buy gear. They buy golf clubs, clothing, shoes, training…
They want to improve their swing, their posture, their game… and they keep spending to get better at the sport they love.
And that’s precisely what determines a best niche in terms of marketing.
Profitable Niches are Everywhere
To be able to choose a great niche, you just need to be aware of the two ingredients that make a niche good:
- willingness to invest
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