1 Minute Guide To Find A Niche | 112
Dec 15, 2023“I need help finding a niche” is one of the most common questions I get in my DMs.
I want to give you a practical and concise guide to finding a profitable niche.
This doesn’t necessarily mean it’s the niche that will bring you the most joy (but it can). It’s the niche that will make you money (because no one wants to be a starving artist).
Pain Point
Your target market needs some sort of problem they’re facing. No pain, no gain.
A lack of sales due to bad photography is painful for a company. No growth on social media is painful. Unflattering headshots are painful. Find the pain and you have the opportunity.
Purchasing Power
They need to have the ability to pay you for your service. College students don’t have much money to pay you for portraits. Corporate executives do.
Easy To Target
It needs to be easy to find your target audience. Can you run Facebook ads to that demographic? Is it easy to find their emails/phone numbers? Make sure you can contact your leads easily.
Growing Market
Pick a market or industry that’s on the upward trend. These markets have more money and more leads coming in every day.
The Big 3
Generally, there are 3 big markets that fall into these categories because they are always in pain. Health, wealth, and relationships. Generally speaking, it’s painful to be unhealthy, it’s painful to be poor, and it’s painful to have no one in your life.
You can pick any of these 3 and niche down further to create your own unique niche.
Let’s walk through an example.
Relationships. You might think creatives have no niche here, but that’s not true. The pain we’re addressing is being single.
Let’s pick a demographic in here that has purchasing power.
College kids looking for hookups? Not great.
Divorced 40-50 yr old men? Better. Older = more pain AND more purchasing power.
Easy to Target? You can run facebook ads filtering by relationship status and age. Done.
Growing Market? Divorce rates are rising.
Remember that you don’t need to have a market fall into all 4 categories, but if they do, it will make it easier for you to land clients.
Do this exercise with a dozen niches. Pick the one you like best.