Starting and running a business is difficult. However, finding the right niche for your business can be one of the most difficult decisions.
Luckily there are a few different tips that you can use to find your niche. Here, we will take a look at 11 ideas on how to find untapped niches.
1. Internet Searches Can Help
When you are looking for your niche, you might be surprised at how helpful a search engine can be. By utilizing the autofill feature of a search engine, you can see what people search for.
For example, when you type “clothes” in a search engine, it might autocomplete your query with “clothes for women”. This is what you want to with your particular field to find your corner of the market.
This will show you what customers want. You also want to look for search queries that do not have many useful results. This offers an opportunity to create the first content ever on a particular niche topic.
2. Think About What You Want
For many business owners, their business is the answer to something they wanted and didn’t see in the market. For example, Giving Assistant was created to help users keep all their coupons and savings in one place.
To find your own personal niche, take a look at what you want from the market. Think about what you want but don’t see, and begin tackling that corner of the market. Odds are that you aren’t the only one looking for what you want.
3. Consider Your Passions
Alternatively to considering what you would want from the market, consider what your passions are, and how you would provide those passions to your customers. This will lead you to a unique place for allowing your creativity to shine through and for starting your business.
4. Think of Your Demographics
When thinking of a niche, consider your market. If you want to find or create a niche, be sure to take a deep look into specific demographics, wants, and needs. For example, something that a college student needs is different from what a middle-aged adult needs—and vice versa.
5. Look at Things From a Marketing Standpoint
Spend a day looking at things from a marketing viewpoint. Doing this will allow you to notice your audience’s demands. This will also give you an idea of whether or not people would be willing to pay to have those demands met by a product, service or solution.
6. Consider Evergreen Niches
For a profitable niche, look at evergreen niches. Evergreen niches are those that last, and that aren’t simply fads or trends. When you are looking for a niche, try to consider something lasting rather than jumping on a fad.
7. Listen to Customer Complaints
While you might listen to your friends and family about what they want in the market but don’t see, those with established businesses are a great opportunity to learn about customer complaints, pain points, and opportunities for a new product or service that meets their needs.
8. Combine Solutions
Consider starting a business in which you respond to and solve multiple consumer complaints and problems. After all, if a customer can go to one place for one solution to multiple problems, then they are more likely to go to your business for their needs.
9. Work On Pre-Sales
For established businesses that want to develop a niche, you might want to try testing out new ideas on your customer base. If they are receptive to the idea of these potential changes, you’ve probably found a profitable niche.
10. Competition Check
If you have an idea for a niche, then check the playing field to verify the level of competition. You can do this by researching your field of choice and seeing how many other businesses have the same idea. Search for your idea online and see how many hits there are.
11. Build On Existing Ideas
Finding the right niche involves looking at what is currently on the market, and what isn’t. And remember, your entire concept doesn’t have to fit into a single niche; rather, you can look into what sub-niche you can have that will set you apart from others in your field.