Niche marketing and the 5 most important W-questions

This post is about niche marketing and the 5 most important questions to answer, BEFORE a successful niche site can be created. I will also present the three markets that always work and are always in demand.

However, before you can start with your first page, you need to make a few preliminary considerations. The most important preliminary consideration is of course to find the right topic for the first page. We apply here Niche Marketing an.

A niche market is generally understood to be a small sub-segment of a market. This sub-segment is often not interesting or profitable enough for the big players. Due to their size, the market leaders are often simply too inflexible and slow to adapt to changing submarkets. This is an opportunity for us to attack.

Let's get this out of the way right away. I am not one of those people who claim that money can only be made in niches. It is certainly possible to make money outside of niches in mass markets. But it is much more difficult here and the risk of failure increases many times over.

What is niche marketing suitable for?

Niche marketing is ideal for affiliate products, your own products, dropshipping or Google Adsense. In the following, I will only talk about products in general, although of course all possibilities to monetize a website are meant. It is important to follow the order here:

1. Selection a profitable niche
2. Search / create a suitable Product
3. Create the Website
4. Marketing - Promotion

Of course, each of these points consists of dozens of sub-points. However, I am primarily concerned here with the big picture, which should not be lost from focus at any time. And to repeat it once again. You should create a small niche site with 5 pages to start with plus an associated blog, which you should also equip with 5 articles. This project can then be expanded step by step. You should not invest an excessive amount of time in this project.

This first niche site can easily be realized in 4 weeks, so that even a beginner can quickly start earning his first money on the Internet. Even if it is difficult, I will try to avoid unnecessary marketing babble and pay attention to the highest possible practical relevance right from the start.

"All theory is gray, but the golden tree of life is green" or something similar was said by Goethe and should also apply here.

Why is niche marketing important?

• In a niche, it's easier to be a Expert to position the Solutions for a specific problem.
• It is easier in ONE area to be an expert, because as an expert in ALL areas to be considered.
• The smaller the selected niche market, the more targeted the target group that will find its way to our websites. There will also be less competition, which in turn makes marketing and therefore monetization much easier

In principle, niche marketing is always about expert positioning. Monetization will only succeed if you or your niche site achieves expert status with your audience. However, you shouldn't get anxious and scared because you might not consider yourself an "expert" anywhere. If you familiarize yourself with a subject area and know more than 80% of the rest, you are actually already an expert.

And as everywhere in sales or marketing, appearances are often more important than reality. It is enough if the audience perceives you as an expert. Everything else is unimportant. You can be the absolute expert in a specialist area. If you do not succeed in conveying this expert status to the outside world, you are not selling anything, NADA! The reverse is (unfortunately) also true.

Your target group must perceive you as an expert. You can achieve this by offering solutions to problems for which a sufficient proportion of the target group is also prepared to spend money.

For now, we will focus on the 5 important W questions, which are so simple and at the same time so immensely important. Many projects fail simply because these questions were not asked, let alone answered.

The five W questions in niche marketing:

• Who exactly is my target group?
• What is my target group looking for (desire, demand, wish)?
• Like can i help her?
• What can I offer her?
• Why should they go to ME and not to someone else?

As you can already see. It's always about the target group. It is the key to success. Are you perceived as an expert by your target group? Does your product strike a chord with the target group? Why should the target group turn to you and not to someone else?

You need a product, a solution to a problem. You need a hungry target group that is ready to buy. And you need the Unique selling proposition. The unique selling proposition is incredibly important. Either you do something that doesn't exist yet or you do something that already exists - only better!

Above all, it is also important to specialize. Cover a narrowly defined sub-market. The mistake is usually that people still tend to include other products in order to expand the target group. However, this is often the wrong approach. The more products you offer in the same direction, the less chance you have of being noticed.

This is how the niche site hunter works:

1. You need a target group that is "hungry" for a solution. This target group must be ready to buy and also able or willing to pay. A target group that is unwilling or unable to spend is unsuitable for niche marketing.
2. Analyze and understand the problems of your target group. Also analyze the environment of your target group, their special characteristics and also the way in which your target group would like to be addressed. ("Hey dude", for example, is not a suitable form of address for an academic target group )
3. Think carefully about what solutions you can offer your target group. You only sell if you can offer solutions. You will only sell if you have solutions that not every "idiot" can easily find after 10 seconds of googling

Your own niche site is always the key

A single website is most likely to make a difference if it serves a niche. A niche that should be carefully selected. You must be able to answer the question "Who is my target group?" precisely. "All" or "Everyone" can never be the answer. But one target group would be, for example: "female, between 40 and 50, divorced, children, looking for a partner". Or "working men with weight problems". The more precisely a target group can be defined, the more precisely a website can be geared to that target group using niche marketing.

How do you find suitable niche markets?

First of all, you have to be aware of when a person is prepared to spend money. This should always be the case when a solution to a problem seems so urgent that they see no other option. If I am overweight, I have the problem here and now and need a solution.

That's why I googled and ideally ended up on your website. Now it's up to you to persuade me to buy. Offer me a solution that I'm willing to pay for - or I'll move on, bored. Or give me the solution for free on your website. Then I'll be satisfied - but you won't have earned anything from it.

The 3 lucrative markets

• Wohlstand - Well-being - Feeling good
• Gesalth
• Beductions

These are the so-called evergreens. Every niche site that can be subsumed under the 3 WGB markets appears promising at first. Of course, a precise target group analysis must still be carried out - otherwise even the best niche marketing is useless. And, of course, a market analysis. You don't necessarily need to be afraid of competition.

Competition is always an indicator that there is money to be made. In the beginning, however, I wouldn't necessarily go for a niche with too much competition. Unless you can score points with a great unique selling point.

As you can see, these 3 markets are very broad. The W market (prosperity, well-being, wellbeing) can range from the money-making scene to wellness vacations in South Tyrol. Health and relationships are also huge subject areas. We need the niche, the specialization and often enough the niche within the niche - the so-called microniche.

You should never be afraid of "too much" specialization. Many people believe that this would make the target group too small and the whole thing no longer profitable. Of course, the target group should be large enough. The target group "All residents between 16 and 40 in Hamburg Lindenallee 12" would of course definitely be too small.

Define your target group as precisely as possible

It is then a question of which groups of people are particularly willing to spend money. These are not always necessarily those who have a lot of money. Here you can quickly make an expensive mistake with a corresponding niche site. You can learn a lot about saving from many rich people who are sitting on their money but wouldn't dream of spending it.

Grateful target groups are people who find themselves in a state of upheaval. Sudden unemployment and the question of what to do next. Divorce, the usual life circumstances have been disrupted and destroyed. Now is the time to develop new perspectives. People in upheaval are faced with urgent issues that need to be resolved quickly. Money doesn't play a major role when it comes to your own future.

We will continue with a practical example soon!