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Niche Selection (Finding Your Winner Niche)

Published on: December 7 2022 by Nick Peroni

Niche Selection (Finding Your Winner Niche)

The above is a brief introduction to Niche Selection (Finding Your Winner Niche).

Let's move on to the first section of Niche Selection (Finding Your Winner Niche)!

Niche Selection (Finding Your Winner Niche)

okay so now that we toked about market
research the next place that we want to
go is actually looking at selecting a
niche remember they're different a
market encompasses a very broad range of
it can have multiple pitches in it right
like the sports market could have has
has multiple multiple big niches in it
so you can understand market trends of
say where sports are heading or what
consumers are buying or shopping at but
absolutely looking at what niche you
want to sell into is when you're
starting to narrow away and take that
that market researching and going a step
deeper right so some of the criteria to
select a good niche number one large
enough for scale all right now this is
my criteria I'm not going to say that
these are the only rules but this is
what I believe is is the best
criteria to select a niche large enough
for scale so there's different platforms
on which were different not platforms
different channels on which you can sell
right so say for example Facebook is a
channel Google is a channel Instagram is
a channel right and you want to make
sure that your niche has a large enough
number of people that you can scale into
these okay because if it doesn't then
you're looking at a it might cap
out and not be something that is
sustainable long term are really able to
reach the type of profit that you want
so in terms of numbers you know for I
would say on Facebook which is generally
the main platform that a lot of people
start Facebook and Instagram you want to
see at least at least 10 million people
right you want to see these 10 million
people they get that's 10 million
monthly active users in that niche and
we'll look at how you can how you can
identify that but that's going to let
you know that you're on the right track
that you have something that there is a
large enough audience for you to be able
to actually continue scaling and
continue making money consistently
proving buyers market you want to pick a
niche that has actual money being spent
and that there's competition that's a
good thing because competition means
money is being spent there's a reason
that those companies aren't there right
so you don't want to pick a niche that
nobody's ever sold into or something
that is you're like you're creating a
brand new market the brand new niche
that is you like it for example if you
watch the show Shortcake and even if you
don't it's an investment show but you'll
see sometimes people will come on there
and they'll have an idea that seems like
a good idea but there's no there's no
existing niche for it like you're trying
to create a brand new niche and most of
the time those ideas get shot down
because there are a number one it's
difficult to prove the concept that's
going to take a lot of Education it's
gonna take money and investment right
it's not about proving buyers market so
when you're in e-commerce there are so
many proven buyers markets in so many
ways that you can scale into an existing
market like apparel or you know selling
jewelry selling home goods so any any
and any of these you know selling
selling in the self-help personal
development health and beauty
relationships right like these are
massive proven buyers markets that you
can niche down and know that you're
gonna be able to sell and that they're
large enough to actually scale easily
identifiable market same kind of the
same thing but in the sense that you you
want to be able to know who your
audience is if you will get something
and and you're trying to think about
okay how who would buy this ooh do I
sell this too that's that's the wrong
way right you want to identify a niche
first and then think about what solves a
problem for them or what would they
really love or what would they just just
really want to have right not look at
something like a product some kind of
abstract product idea and then say okay
you know who can I sell this to right
that's that's the backwards way of doing
it quick producing market what I mean by
that is it doesn't require a lot of
Education okay it's something that you
know it's it's something people
understand when they see like for
example sewing a t-shirt there's no
explanation needed on that right you can
go to market with a great t-shirt design
setting up the Shopify store and using a
print-on-demand app and start making
money like right away
based on the success of your design and
if you know how to actually set up a
Facebook ad and get it in front of
people you can literally be making money
very quickly it's a quick producing
same thing with drop shipping right it's
something you know and those are the I
understand not that's kind of the
business model but what I mean is that
you can find an audience you can find a
product and all you have to do is put
that product in front of them and you
can start making sales that's a quick
producing market it doesn't require a
lot of education that's not overly
complicated and then the three P's is
number five pride passion problem I
believe that these are some of the
biggest the biggest triggers in binding
right if somebody has pride in something
if somebody has passionate something or
if there's a problem that you can solve
for people so looking at the big money
niche ideas and this is just something
you know you can screenshot this or keep
this for your reference but self-help
and wealth hobbies and jobs health and
beauty exercise and fitness family
relationships love I'm not going to go
through all of them you can read them
but these are just there's no
explanation really needed here these are
really big niche categories that are
always gonna be something
these are big niche categories that are
always going to be successful
they're always gonna be there they're
evergreen categories there's always
going to be people to sell to and there
are so many sub niche categories within
each of these that allow you to kind of
narrow in on an audience and build a
nice brand so a lot of times you know
you could take any one of these and you
could be successful now you're gonna
have to niche down a little bit right
like these are the bonus levels but I'm
just trying to give you the categories
that are to meet these criteria right
then our proven large enough to scale
proven buyers market easily identifiable
they're quick producing but you could
come into any one of these and you can
find products and start selling
making money quickly right based on
based on the idea of understanding how
to advertise market and pride passion
problem right apply to all these people
that are in these are in people that are
in this niche or part of this audience
and any one of these are in therefore
one of one of those reasons generally
either they have pride in what they do
or like a musician or you know exercise
fitness hobbies and jobs give that
passion but pets and animals or fantasy
Bantam collectors or you can solve a
problem for people like in self however
wealth or health and beauty cookie and
eating but and both will once fit
multiple different categories but you
get what I'm saying
so these are some big-money niche ideas
now obviously like I was just saying you
don't want to go to abroad okay I'm not
saying that you just stop at health and
beauty okay the more you can narrow in
on a specific audience which is called a
sub niche the more brand value you will
have in marketing so say instead of just
let's say an example here like say
instead of just fitness the next
category down can be men's fitness then
instead of just men's fitness another
category down can be men's fitness for
guys ages 45 and older okay and then
even yet another category could be men's
fitness for men over 45 who also have
back problems right now you've gotten
really specific but you're still
probably in a large enough area that you
could really serve that audience well
and and build brand value okay now I
want to look at a few ways that you can
validate your niche idea in terms of
numbers right and and actually see like
okay what are the real numbers behind
the Snitch idea alright so number over
here in Google Keyword planner and it
looks a little bit different than the
screenshot on my screen because it's
recently been updated but anyway this
this is what you'll see all right when
when you have a it's a free a free
account to sign up with Google Adwords
at google.com if you don't and when you
come over here to tools you will see the
section for keyword planner this is a
really powerful tool because it's going
to give you an exact forecast and search
volume on what people are searching okay
and this can be powerful in two ways
number one it's going to help you
validate the demand for something and
number two it can show you how people
think and what related items might be
around that niche so say for example we
wanted to look at you know we looked at
something earlier
calling couple choices that's a store
that's out there so say we wanted to
look at couple shirts and see if this is
a valid shredder or that would knit
that people actually that there's demand
for so I can type in couple shirts okay
click get started all right so it's
giving me a forecast right now that's
that's mostly meaningless what I want to
do is come here - that's not meaningless
but what I want to do is come here to
keyword ideas this is what I'm really
care about now you see I have it set
here the United States I have a sent to
Google that's what I would keep it at
again because I'm really just looking at
the US market place is a kind of an
indicator for for a world worldwide
demand so if I come here and I tell you
a couple shirts and I click get results
down here you're going to see the actual
average monthly searches okay so you can
see that this is actually something that
is getting searched a lot right anything
in my opinion it's over ten thousand
searches a month as a single keyword is
a sufficient amount of demand to prove
that means ten thousand people a month
are searching this right this is an 18
thousand now collectively you also want
to look at see these other keywords that
come up this is ideas that you're
getting right here so not just I mean
couple shirts is kind of the same thing
as couple t-shirt but let's let's see
what else we have funny couple shirts
his-and-hers shirts you know
collectively if you look at the combined
keywords here and you
sorted by average monthly searches to
see what the best ones are so now I
would stay away from this even though
it's searched a lot that's that's
obviously gonna be a trademark item but
couple shirts you can see is getting 18
thousand hits king and queen shirts
another eight thousand matching couple
shirts another eight thousand isn't hers
another five thousand so clearly there
is demand for this niche right the
people are searching for now who was
also giving us related terms so that's
that's awesome right because now I see
couple hoodies might be something as
well that I can search get results and
so I can also see there's demand here so
now we're already starting to build out
the the different cell niches or
subcategories of what we what we can
sell right and we can keep going through
and getting more ideas okay so that's
that's a way that Google Ads can can
validate a niche idea for you by showing
you is there actually demand in the
marketplace for this and for me
personally what I love to see is ten
thousand searches a month or above
collectively across the the keywords
that have to do with with whatever you
searched because that was you know
there's some sufficient demand there now
the next idea is Google Trends okay we
toked about Google Trends is a way to
find ideas but it's also a place that
you can validate ideas okay because you
can come to Explorer and you can search
by a search term right now I'm also
gonna set this again back to the United
States past twelve months is fine Google
shopping is generally again because
that's what matters the most are people
of searching when it's within google
shopping let's take a couple shirts now
it's really up and down right so
sometimes what I'll also do is I'll look
at okay what is the web search look like
because obviously this is
an item that if somebody searches us on
the web it's gonna bring back shopping
results it's not gonna bring back
information okay it's not that type of
search term people know if they're
looking for a couple shirts that they're
looking for something that they can wear
okay so you can switch off and on based
on what you want to see here but what
I'd like to see on Google Trends is
definitely consistently above 50 all
right now it's it's coming down a little
bit here probably just after Valentine's
Day and you know just being the
beginning of the year we can look those
see okay you know how consistent has
this trend in so you can see over time
that it does go up and down but going
back five years this is something that
is consistently at least in like the 50
line or above which is generally good
enough for me right obviously the higher
trends the better but if you're
generally above 50 and this number is
based on zero being no interest right
not trending at all
100 being maximum trend like there's a
lot of interest it's not compared to
other items or anything like that it's
just Google giving you an idea of in the
overall trend scale of things to get
searched how does this compare what kind
of consistency does it have you
definitely want to see something that's
consistently trending above 50 right and
you can look for the past five years to
get ideas of patterns within you know
year to year the marketplace if it
doesn't have that much history then just
stik stik to one year okay but this is
something I would say pass the test
that's validate now it's trending down a
little bit here but just based on the
past like you would normally want to be
careful about that
but based on the fact that the past five
years it has a consistent trend I
wouldn't let that really it's still
pretty much at the 50 line here and it
was it was way higher than that before
now as an example of something that
trendy this was an item that we're gonna
look at that was doing really well
before last year a lot of people were
selling this and made a lot of money
I'm sure exactly how well you can see
this if you spread the graph look you
can see that it's spiked hard and
trended down so this is an example
obviously of something that is not a
niche that you want to get into right it
trended really hard for a while and then
and then it dropped off okay so that's
how using Google Trends can help you
validate whether a niche is is good to
be in or not and you want all these the
line up I would not sell into initiative
doesn't align with every single step
that I'm showing you here last one is
using audience insights on Facebook
right because even though it has demand
on Google we still want to make sure
there's an audience for it on Facebook
and we want to get a little bit of the
data about that audience to see who will
be marketing to so audience insights is
a tool in your business manager when you
come to all tools it's here under the
plan section right and it basically it
shows you what an audience of site so if
we were to go with the couple's example
now the thing is about this is you have
to identify your audience in terms of
interests right you have to now be using
Facebook audience where you can see they
have interest here so it's not going to
be it's it's not always gonna be by
keyword right like if I type in a couple
shirts here there's there's there's not
a keyword for that okay but if I type in
relationship there are keywords for that
so if I type in relationships so you
have 800 and 900 monthly users
okay what about married
hmm okay let's just calm down the
relationship status and make it easier
because generally for something like
this I know that this is my market right
people who are in a relationship people
who are married people who are engaged
so let's select them all because these
all generally apply and see what we have
on Facebook okay we get that's not
correct okay Facebook's giving a bunch
that's not correct only 10,000 to 15,000
let me try there we go
I was just too specific okay so people
who are in a relationship people who are
engaged people who are married which
would all fit within the couple shirts
right then are 18 and older both men and
women in the United States active
monthly audience of 80 to 90 million
people now you can start to see why this
is a great niche to sell into because
there's demand for it and there's a
large audience for it and there's a lot
of people that could fall into this
niche you know it doesn't mean that all
these people are going to be interested
in where a couple shirts no of course
not but you have a large starting point
here to be able to go into the
relationship dish and you can get a
little bit of an idea then once you see
okay there is demand for this there's at
least 10 million people you see it gives
it to you and monthly active people so
there's at least 10 million monthly
active people in this and then you can
take it a step further and kind of look
at where the heavy portion of that lies
most of it is in married and with a
quarter of it in a relationship so you
start to see maybe your focus is married
okay and we can remove the other two
we're at 50 to 60 million monthly active
people okay 59 percent women most of the
most of this audience falls right in the
25 to 54 range so you start to get an
idea of what your audience looks like
and you can come over it here you can
see what their top categories if page
likes are the things they like the most
and this just gives you I mean this is a
really really broad level at this point
but if you give you some ideas of where
to start to think because if these are
the top brands then maybe they have
marketing campaigns that you can go look
at and start to get an idea of how these
successful companies are marketing to
the same audience that you want to work
- okay these are the top websites so you
can go and look at these pages and look
at these websites to see what kind of
website it is what kind of stuff they're
selling what are they marketing how are
they marketing what kind of branded they
build what's their message right so
there's there's some good stuff that you
can get there as well down the air same
same kind of thing so that's that's the
way that I would validate this right
because generally you're gonna start on
either Google or Facebook but you you
want to be using both of them right
ideally you want to be using both
whether you start with Google and then
retarget on Facebook and start marketing
on Facebook where you start with
Facebook and then you start opening the
Google campaign either way I think that
this these three steps are what you
should be looking at to validate if your
niche ideas good and if there's not an
audience and it doesn't validate it each
at all free of Beast and I would look
for something better
all right see in the next video

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