with Joey Ragona
free facebook group Access - Join Now!
Lesson 5:
First Steps To Finding Your Niche Market
Way to go.
You've come a long way.
And now we're in the home stretch.
If you're this far, it means you are "primed" and ready to implement the first steps in finding your niche :-)
That's no small feat.
'cos the transactional-only peeps left eons ago.
They aren't clickin' through unless there's an immediate payout.
But not us.
We're about impact and change. We want to serve the world.
And with that winning mindset, all the hard work you put in up front pays of BIG time over the long term.
Let's roll.
Do you remember from before when I said 'the best niche market is never chosen'?
A market niche is DISCOVERED.
And if you want the GOLDEN ticket to offering the exact products and services, a discovery mindset is the best to have.
Which means you want to learn everything you can about your niche market. And the avatar who represents the niche market.
So let’s see how we do that with 3 simple steps.
Step 1 - Set up a place where you can store the data you find
The first step is to set up a spreadsheet or tracking system where you can add the information you find when conducting market niche research.
This tracking system should be simple to navigate and easy to reference again and again.
Maybe you like using a simple Google doc, I like using spreadsheets and mind maps. I even use tools like Evernote.
I like to call this raw data document a "data bank". And it's important to note this document is never finished. It is a place where you can add in niche market research as you find it.
In short, you create an all encompassing database of your niche market wants, desires, questions and pain points.
The more actively you update this niche market data bank, the better.
Here are two examples of my data bank;
Step 2 - Dig for your first clues
It's time to put on your detective hat for step 2.
This is important.
Because you are not looking for ANSWERS. You are looking for clues. Like a detective. Which means you grab everything that might be relevant.Even if you don’t think so when you see it. This is not the time to analyze and decide what’s useful.
You can find the information to input into your tracking system from facebook groups, past clients, online forums, etc.
In my opinion, the best place to start looking for a niche is Google.
You can google a broad topic and then see how google breaks it down into smaller subsections for you.
For example, if you’re in the weight loss category and have no idea other than “people want to lose weight”…start a search with “how to lose weight”.
At the time of this writing, I did a quick google search on the exact phrase “how to lose weight”.
Here are the search results:
>>> 748 MILLION results <<<
HOW are you supposed to stand out?
Let's take a closer look at some of the queries:
- How to Lose Weight Fast:3 Simple Steps, Based on Science
- How can you lose 10 pounds in a week?
- How I can lost weight naturally?
- How can I lose 20 pounds in a month?
- How can I lose tummy fat fast?
Those results are the hottest topics people ask about from this particular search.
Can you see how it’s already niching down with the questions asked?
Do you see how people want specific answers?
“Lose tummy fat fast”
“Lose 20 pounds in a month”
.
.
.
These two alone are great key insights to this niche markets’ problems.
I don’t know anything about losing weight or if it’s possible to lose 20 pounds in a month without starving yourself.
But from a marketing perspective, and in the context of what you just learned about URGENCY…”how to lose 20 pounds in a month” qualifies for an awesome niche market to serve :-)
Another hot resource for niche market research is...
This website gathers all the questions people ask related to the topic you are searching for. It’s priceless.
Once you type in your topic and gathered data, add it to your data doc. It really is THAT simple.
In a short amount of time you end up with a huge list of questions to search for market niche clues.
Here’s a hint.
If you search for something in Google or Answer the Public and come up with nothing it's a huge red flag that the market niche isn’t inquired about often. And probably not a lucrative niche market to pursue.
here's a demo walkthrough video I grabbed from my Strategic Marketing Blueprint. It shows how I use AnswerThePublic
Google and Answer the Public aren’t the only two resources you can use for this research step.
You can also go to Quora.com and Ask.Yahoo.com.
Yahoo.com is kinda like a google search. But it’s still valuable. You get different phrases and queries.
Quora.com is another hidden gem for breaking a large topic into smaller bite sized specific market niche topics.
If you’ve never visited Quora before, check it out. It’s a website where people ask any and all kinds of questions. If your market niche topic is there, you can get a lot of great insights about your niche market from Quora.
Don't forget about Amazon
Amazon books will also give you major intel about your market niche.
Research the top 10 books in your niche market.
Look for the MIDDLE reviews in particular. “Listen” carefully to what people liked, and didn’t like. And, what they believe is missing.
.
.
.
I'll say this again. Because it's SUPER IMPORTANT;
When you are combing through communities and groups and listening to your niche market, grab anything you feel is relevant or that can help you understand your market better.
This is not the time to analyze and decide what’s useful, it is time to collect niche market information.
Step 3 - Validate sub-niche market
Once you have an idea of a niche market you want to serve it’s time to dig deeper.
I find the best places for this is inside groups and forums.
Facebook and LinkedIn groups can be an awesome resource for niche market research.
Both platforms have every kind of group topic you can think of.
And you find people talking about their problems, wants and aspirations related to a market niche.
Another key research place is popular online forums based on your niche market.
To find these forums is simple.
Type “your primary keyword” + forum (without the quotes)
For example, type: weight loss forum to find discussion forums about weight loss.
Pick a few of these groups and join them. You don’t need many.
Prob'ly 3 - 5.
Eavesdrop on the conversations.
Because this is where your raw data document comes in.
When you find discussions based on your market niche, get ready to copy and paste.
What are people talking about?
What questions are they asking?
What are they frustrated about?
What solution are they looking for?
Look for posts that mention their wants and desires. Pay attention to how they describe everything. How would they feel if they reach their goals?
Another tip is to keep an eye on what others suggest for solutions. If you look close enough you will find people telling us what they’ve already tried…if it worked or didn't work.
When you see someone mention that a particular solution/idea/etc won't work for them it's GOLD. Because these are objections. It’s what your avatar believes.
And your marketing MUST address objections like this. When you know what the market has tried already, you can position against it. And offer a new way of achieving their goal.
Now. There’s a bonus when you do all this niche research.
When you record the words and phrases your specific niche market uses, you are also doing avatar research at the same time. You are getting into the minds of your customers.
And in the process you are prepping a swipe document for your copy later. This is something I teach extensively in my Write Marketing Copy program.
So don’t overlook doing this seemingly boring stuff. It’s actually the key to selling a product or service effortlessly.
With these few searches I’m sure you see the different sub niches within the big market niche category.
And it should start your brain thinking about the sub niche you can serve based on the questions people ask.
Which is your next step.
But before we get to step 4, I want to make something very clear about these first 3 steps.
I know research isn’t the most enjoyable thing to do. Most of us want to get to the selling part.
And many of my students feel the same way. But they found selling easier after doing the right research.
So here’s what I tell everyone.
You don’t need to be a data geek like me.
If you commit to just ONE WEEK of research, you will have a gold-mine of data.
Invest 80% of your work day inside online forums, FB groups, check out Amazon, etc. If you can’t do 80%, do 60 or 70.
The point is, dedicate AS MUCH TIME AS POSSIBLE for only ONE week. You will be 10x further and the insights you get are priceless.
And just as I mentioned before, this research is never complete. If you want to remain connected with your market.
But you don’t need to spend 80% of your time researching like you did at first. Perhaps you scale down to 20% of your week. This keeps you up-to-date with how your market is changing and voicing their wants and needs.
This is just the tip of the iceberg.
Most people don’t even get this far.
But you’re different - right?
Believe me, when you get to creating your marketing message this will all come together for you.
Let's talk about that...
How to create your niche marketing message
I love talking about the marketing message. Because it’s the one thing that connects your product or service to your prospective customer. So you can sell your product or service.
For that reason, we’ll talk a bit about how the marketing message is created when you choose a niche to serve.
Now. The marketing message topic can be a course all on it’s own. And to really dig deep is beyond the scope of this training.
You can always reach out to learn more about my marketing programs and services whenever you feel the need for specialized help.
So we’ll touch on the high level points here.
One of the things I like to teach is the Polarized Marketing Message™
This is a marketing message that is NATURAL. It’s never forced. Because it's authentic and real from YOU.
It repels the people you DON'T want
And attracts the people you DO want. Effortlessly.
Best of all, a Polarized Marketing Message allows you to 'sell' without selling
Especially if you’ve followed the p5-niche market equation I gave you.
So how do you create a Polarized Marketing Message?
Remember the words and phrases you scooped up in the niche market research?
The good news is your marketing message is hidden in that data.
Let’s put that research to good use.
.
.
.
Click the button below to get Part II delivered to your inbox.
Part II is only for people who want to dive deeper into the niche marketing message.
And in case you're wondering...yes...part deux is free too :-)