What is a niche?
You have probably already heard the term, but it can be misunderstood. This guide will help you understand fully and highlight a few common mistakes.
Markets and Niches
A market is a broad category of buyers with a common need or interest. Some examples include Coffee, Fitness Equipment, and Pet Dogs.
A niche is a smaller segment of a market. Some examples include Coffee Machines, Foldable Treadmills, and Dog Toys.
Products and Topics
There are two types of niches; Product niches and Topic niches.
Some examples of Product niches include:
- Organic Makeup
- Beer Brewing Equipment
- Model Rocket Kits
A topic niche differs slightly because it is about information instead of products. Some examples include:
- Sustainable Travel
- Getting Fit at Home
- Ancient Rome
Product Niche or Topic Niche?
This depends on your preference and the products that you would promote in that niche.
A product niche works well if the products are interesting. This is because you can create engaging content and social media posts. An example would be "Inflatable Paddleboards".
A topic niche can work well if the products are boring. For example, a "Power Tools" store would not do well on social media. If you instead made a "Home Improvement" store then you have potential for interesting and engaging content.
A topic niche is also more flexible and can cover different types of products. For example, "Sustainable Travel" would have content about travelling with a low carbon footprint and can promote all kinds of products, from environmentally friendly suitcases to comfortable non-leather trainers.