So you’ve found out that e-commerce is very profitable nowadays. Now you want to start your own online store. But there’s a question in your mind before you may begin your online selling journey. What product or service niche should you sell? Don’t worry. You’re not alone with that question. Even those who already started is still unsure. Also, for startups, selling something that doesn’t pick your interest could lead you to quit before you even begin. So let me give you some advice on how to find the right niche.
- Find your Niche through your Interest, Expertise, and Passion
This is probably the basic way of finding your product or service niche. You want to do something that you’ll definitely love. After all, doing something that you like is what can keep you going, right? So, to find your niche through your interest, expertise, and passion– the first thing you want to do is create a list and break it further down. Then, out of those things, ask yourself, “What do you enjoy doing the most?” Shorten the list by removing the things you less likely to enjoy. After that, filter the list again. This time find out which of those things are likely needed by people. Lastly, break it down again and identify which will people pay big money for. But don’t just consider high monetary value. Think of its selling power probability. If it’s something that more people will buy despite its monetary value.
- Find your Niche through Top Sellers
If you’re a person who follows money most of the time, then finding your niche should be easy. All you have to do is use data and tools to find out which products or services are selling the most. To do that, you just have to visit online marketplaces like Amazon, eBay, etc. and check their top sellers. You may also widen your search with online shopping sites, and affiliate marketing marketplace like ClickBank.
- Find your Niche through Solving Problems
Finding a product or service niche may vary from person to person. If you’re the type who loves solving a problem, the product niche doesn’t really bother you. What you really seek is the niche of people. And the problems that most of them encounter. You wanna solve it through a product or service. So here are some ways on how to identify their problems:
- Utilize Forums – Find forums like Quora, or any other where a certain type of people– that matches your ideal niche– usually hang out and ask questions. Check their discussions and even make a list of those questions. Find out which are frequent and then you may be able to find the right problem to solve, thus the right niche for you.
- Host an Idea-Extraction Session – For example, your ideal niche of people are those who love fashion. Invite them to your hosted event, an Idea-Extraction session. You can do it through a newspaper or social media posts. Use the event to identify their problems with fashion. Just don’t forget to give them freebies, or feed them during the event.
- Utilize Online Survey – In identifying and collecting problems, nothing beats the power of an online survey. Utilize websites that offers such services. You’ll definitely find a problem that is worth solving to find your niche.
- Find your Niche by Searching and Analyzing Competition
There are times when an entrepreneur just found a niche that suits them. Only to trash it just because of how established the competitions are. Don’t be afraid of them! Instead, treat them as an opportunity. If you analyze them carefully after searching for them, you may find aspects where you can still stand out. To help you out, try looking for these signs:
- If the competitions are not creating high-quality and detailed content to serve their customers. Grab that chance to outrank them.
- If the competitions are overly corporate and faceless, beat them through transparency.
- If the competitions are all but paid services, you can drive their audiences to you by providing things that can be given for free or as an add-on. For example, among domain registrars, most of them are not offering free SSL. Then there are new registrars who just provided it for free.
- Find your Niche through Online Product Niche Finder
Simply type it on Google and hit search. There are websites that offer tools that help you find a product niche. Easy!