FINDING YOUR NICHE FOR YOUR ONLINE STORE

September 24, 2020

One of the most important parts of getting started with a print on demand business is identifying a niche. One good idea isn’t enough for true success, but it is a good place to start. If you want to launch a thriving online business, you need to do your research and choose the right niche.

Here are 6 ways to find a niche for your online store.

Identify Your Interests and Passions

The best place to start as you try to identify the niche you want to focus on is your current interests and passions. As a new business owner, you are more likely to stick with it if it’s something that already interests you. Start by making a list of 10 topics you find interesting. Some questions you could ask yourself are:

• What clubs or groups do you belong to?
• What topics do you enjoy learning about?
• Are there topics you already read about or are knowledgeable about?
• What do you look forward to doing in your spare time?

When you choose a niche you are passionate about, you are more likely to persevere when you experience the challenges of running a business.

Identify a Problem You Can Solve

Part of the research process should include understanding your potential clients. The best ideas will help your customers solve a problem. Remember, while you are creating a product, the people who will eventually be your customers are the driving force of your new business. Create your store for the people you will serve and you will win big in your niche. Forums such as Quora and Reddit are wonderful for doing some in-depth research into questions and problems your potential customers are trying to solve.

Think about how your products or designs will help your future customers. There is always room for new and innovative ideas and designs. If you can identify your target market, you can also create opportunities to have one-on-one conversations with the people you are hoping to serve to uncover their pain points.

Research Your Competition

The next phase of identifying your niche involves extensive competitor research. You need to know and understand what other solutions are already available and determine how you are going to provide a better or different solution. It’s ok to have a bit of competition, but you want to understand the established brands in your niche. Create a spreadsheet with all of the businesses you discover online in your niche and log the ways they stand out or succeed online. Then, ask yourself questions about your business idea.

How will you stand out? What makes your business better or different? How will you differentiate your business or your offer? A few ways you can stand out in your niche may include:

• Provide high-quality content: Many new business owners are so focused on the products they are selling, they don’t spend time to create high-quality content. Create amazing mock-ups and great social media content and you are sure to stand out.
• Consider paid ads: You don’t have to have a massive budget to stand out. Many new business owners skip over paid social media ads due to budgetary constraints, however, more times than not, it is extremely difficult to stand out without an ad budget.
• Provide awesome customer service: A quick way for a new brand to make a splash online is to provide customers top-notch customer service. They’ll be sure to tell their friends and family about your business if you give them awesome service.

Do Keyword Research

Keyword research is another important part of understanding the niche you are considering. Most new business owners make the mistake of thinking too broadly when it comes to niches. For example, the keyword “yoga” is too broad. Instead, think of ways to narrow the niche. Search for keywords such as “yoga tank tops” or “yoga pants.” Then, keep narrowing down until you have a keyword with medium to low-level search volume.

Search volume is simply a term that describes how many people are searching for a keyword at any given time. You can use tools like Ahrefs or SEMrush for your keyword searches. Stick to target keywords with a search volume of 1,000 or higher. A low search volume doesn’t necessarily indicate there’s no niche, but it may indicate that you’ll have to put more effort into being found online because fewer people are searching for your niche.

Narrow Your Niche

Now that you’ve done your competitor research and keyword research, it’s time to narrow your niche. Your list of 10 should now be only 2 or 3. Your final choice should be based on all of the research you’ve done to this point. One final consideration is the profitability of your niche. Browse sites such as Amazon or Google and determine if there’s a place for your niche. Make a note of prices and understand what strategies you will use to price your products in your store. Chances are good that your idea will be profitable if you approach your business in the right way.

Test Your Idea

Now that you have a narrow niche, it’s time to start testing! One common way of testing a new niche is to set up a landing page and use paid ads to drive some pre-sales traffic. It’s a good opportunity to test messaging and find the right one for your audience. You can leverage A/B split testing through your email and ad messaging to help you fine-tune your product, your offer, and your message.

It’s important to remember that it takes time and effort to create a successful online store. With patience, persistence, and the right foundation, your store will be up and running in no time!

Ready to get started? Let GearLaunch help!

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