The number of niche markets available to dig into is virtually without limit. A single person can fill or have multiple hobbies, multiple interests, multiple needs, and multiple demographics. Multiply that by all the people in America (or abroad) with internet access, or just somewhere to view ads, and you have an idea of how many niche markets there are to be tapped into. With the abundance of niches that the people of the world can create space for, there’s no excuse to pack any single one with a glut of advertising; but sometimes, that’s what happens. Here are three niche markets to avoid.
1. Niche markets by gender
First and foremost, gender is a sorry excuse for a niche. Sure, it’s technically a “niche,” in that it’s not all-inclusive; but it makes the deadly mistake of being far too broad. Marketing “to men,” or “to women,” is like turning to the weather forecasters just to hear, “It’s hot,” or, “It’s cold.” It’s simply not specific enough to deliver, because no two men or women are exactly alike. However, if you get more detailed and think in terms of, two athletic men in need of large-size running sneakers, or two female restaurateurs buying ingredients from local farms, you now have a much tighter, more cohesive group of individuals, which will make your marketing endeavors all the more focused and likely to succeed.
2. Trendy niche markets
It’s tempting to grab onto the latest and greatest “hot commodity” — but resist the urge, or else you’re going to be burned. When a product comes onto a market and has a great deal of success, it might initially make sense to jump on the bandwagon. After all, everyone wants to be on a winning team; plus you’ve always heard the maxim that it pays to imitate success. Right? Dead wrong. This is how supply grows to the point where it exceeds demand, rendering the product that was once so valuable, close to worthless. It happened to wheat during the Dust Bowl; it happened to web domains during the “dot com” craze of the late 1990s; it happens every time a blockbuster novel finds success. It’s historically proven, time and again: don’t buy into the bubble. How many vampire novels for young adults were published on the heels of Twilight? How many books about adolescent wizards stormed the publishing market after Harry Potter made such a splash?
3. Tarnished niche markets
These are niche markets that cause savvy consumers to raise a skeptical eyebrow. Weight loss is public enemy number one in this regard. It’s virtually impossible to even think of phrases like, “How to lose 10 pounds in a week!” or “Melt off the fat,” without envisioning obnoxious sidebar ads and gimmicky infomercials. Other offenders more likely to prompt eye-rolls than actual purchases include things like “anti-aging cream,” “health supplements,” and anything redolent of “get-rich-quick.” Consumers are informed and discerning, and even if your product really works, you’re going to have to struggle to overcome its snake-oil reputation.
If you would like to find out more about defining your niche
If you would like to find out more about blogging to boost your niche I invite you to contact me. I have been helping professional service providers such as CPAs, attorneys, and financial services providers focus their business development efforts on profitable micro-niches for over 10 years. Email me at firstname.lastname@example.org.