This post may contain affiliate links, for more information see my affiliate disclosure here.

What Is A Niche Market Business?

What is a niche market business?  When I started my search for ways to make money online, I had no idea how to answer this question, or even what the term niche market referred to.  Well, today I want to take a look at a niche market and explain this process to you.

Photo by Juan Marin on Unsplash

First of all, I want to let you all know that I currently work full-time.  Yes, I have a regular job just like most of you out there.  My goal is to work online full-time, and I will get into my plan of action later in this post.

I tell you this to give you a baseline, and so I can define some key terms that have been necessary for me to learn in my journey to make money online.  This has been a learning process, and I believe something that anyone can do with the proper tools and training.

So, let’s get into that question that everyone is so eager to learn about.

First, let’s define a niche

A niche is a distinct market for a product or service.  It can also be described as a group of people who are looking for a similar type of item.  I will give you some examples.  Skateboarding is a niche, wireless headphones are a niche, and cat toys can be a niche.  If you follow me, niche possibilities are endless.

People are online searching for these types of things every single day. So it’s a group of like-minded people looking for something in common.

With a niche market business, you market your business to a group of people who are looking for a shared interest.  In the case of skateboarding, you are targeting people who are interested in skateboarding.  This is a group of people who are looking for products or services in the skateboarding area.

You have access to billions of people

People are searching for items online all day, every day.  There are billions of people in the world searching online all the time.  Some of these people are already in BUY mode.  They know what they want and are searching for more information about a product or service.  They might be searching for reviews or how-to videos.  This is where a niche market business comes in.

Photo by Benny Jackson on Unsplash

If you are knowledgeable about skateboards for example, and skateboarding activities, you can capitalize on this niche.  You can offer product reviews, how-to videos, etc. and focus your business toward people who are searching for these items online.

For instance, someone who is an avid skateboarder probably has a lot of insight into the latest equipment, styles, etc.  They have a lot to offer someone who is looking for skateboarding gear, or even lessons.

If you start a blog about skateboarding, you can target people who are looking for these items online.  You can offer how-to videos or blog posts, and in the process, you can recommend products or services that you have experience with.

Skateboarding example

You can write a post about the best skateboard shoes for example.  So if someone is looking online for skateboarding shoes, they click on your link, you can share your recommendations. You can write a post about the best skateboards for beginners and link to products that you believe fit this requirement (this is how you get paid, and I will touch on that in a minute).

You can also post how-to videos with skateboarding tricks for beginners, that kind of thing.  You are trying to offer something to help out your reader. You write posts or make videos about a particular topic, and people who are searching for these items will visit your website.

With a niche market business, you don’t necessarily have to own a product or service to sell it.  That is the beauty of this type of business.

When a reader visits your site, you provide them with detailed information about whatever they are searching for.  You can break down the best skateboard for beginners as in the previous example. You have a list of boards, with all the specs, and tell your reader why you recommend or do not recommend a product.

Photo by Max Tarkhov on Unsplash

If the reader is ready to buy, they can click on a link, and buy something, then you earn a commission from the seller for driving a sale to them.  That takes me to the next step in the process, affiliate programs.

Affiliate programs

An affiliate program pays a small commission to you when you send people to a website to make a purchase.  Within your content, you will have links for the products or services that people can buy.  This is called an affiliate link.

An example of this is the Amazon affiliate program.  Amazon sells pretty much everything under the sun, and they have an affiliate program.  If you refer people, with links in your content, to purchase something on Amazon, you get a commission for that sale.

That is basically how an affiliate program works. There are a LOT of affiliate programs out there in the market today, most major retailers will have an affiliate program, and there are many more as well.  You can find affiliate programs for a lot of different niche ideas.

So in a nutshell, cater your website to a particular segment of a market, offer your insight and product recommendations, and you can earn a commission. You can literally turn any passion or hobby you have into an online business using this type of model.

You become a go-to source for people searching a particular topic, write engaging and informative content, gain trust and then earn a commission on sales.

My plan of action

Now I would like to introduce you to the platform that I am using to build my niche market business to earn money online.  Wealthy Affiliate helps people from all around the world turn their passion into an online business.  I will get into the reasons I joined Wealthy Affiliate and why I think it is the best platform out there.

When I started looking for ways to make money online, I really didn’t know where to start.  I searched and searched, and somehow I came upon Wealthy Affiliate.  I was very skeptical at first, and you should be with anything to do with making money online.

What Wealthy Affiliate offers

Training Wealthy Affiliate provides some of the, if not THE BEST training platform available.  Kyle is one of the owners, and he has blog posts and video training that show you how to build a website and get started on your journey. I had never created a site when I started, and I can’t believe how easy it is to get started.

The training is excellent and will show you how to build a niche market business from the ground up.  There are also live weekly webinars that go into more detail on specific subjects.  These live classes are recorded, and you can watch them anytime you want.

The members of WA provide training as well.  As a Premium member, you can post-training for others to learn from.  There is a LOT of knowledge within the community, so if you get stuck or have questions, you can certainly get help.

For someone like me who had never done this before, I really like the step-by-step approach to not only building a website but developing content for the site as well.

Support is something that was, and still is, super important to me, especially when I was just starting.  Support covers a few different areas here.  There is technical support, and answers to all of your questions within the community.

Site Support to help with any and all questions related to the operation of your website.  There is also a chat feature 24/7 where Wealthy Affiliate members offer live assistance.

You can also post questions to the community if you get stuck, or need ideas. There is a community of people available to help you with issues or problems you encounter.

You can start for free

One of the great things about WA is you can join for free, that’s right $0 for a starter account.  With that starter account, you have access to the first 10 lessons in the Online Entrepreneur Certification, and Affiliate Bootcamp training courses.  With the free starter account, you can build two free websites and use 30 free searches with the keyword tool.

Yes, there is an upgrade option, but you don’t have to open your wallet until you decide this is absolutely what you want to do.  You can remain a free member as long as you want and upgrade at any time if you choose to do so.

Conclusion: What is a niche market business

I hope you have learned what a niche market is and how you can start a business with your interest or passion.  The concept is pretty simple, you build a website, write content around your passion or interest, drive traffic to your site, promote products and get paid.

The thing I love most about Wealthy Affiliate is they teach you how to build an online business from the ground up.  If you have previous experience, all the better, but you can still learn even if you are a veteran. There are a lot of people who are members of WA, who have years of experience making a full-time income online.

Please check out my complete review if you are interested in starting your journey to make money online. Maybe your reasons are the same as mine, to eventually quit that job and work for yourself to experience the freedom you have always wanted. Perhaps you are just looking to earn some extra money to create a better future for your family.

Whatever your reason, I encourage you to take a look at the program and then decide for yourself.  I literally don’t think you will find a better platform online with all that you get from WA.  From hosting your website to training and support, this is your one stop shop to getting started on your way to financial freedom.

Thank you for stopping by today.  If you have any questions or comments, please leave them below, and I will get back to you as soon as I can.  I look forward to the journey ahead, let’s do this!

Steve

EarningOnlineWithMe

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