Day one of The Challenge actually started 3 days ago. I completed the training and did the exercise and then got preoccupied updating my other sites and forgot about posting my progress here. So today I am back to let you know how I am doing.
What Is A Niche?
The D1 training was all about niches. It explained exactly what a niche is, the different types of niches and how they relate to markets. We also got an in depth study as to what an online market is, how the niche relates to the market and the importance and role of keywords. So, what is a niche? Well… let’s not get ahead. To identify a niche, we start by looking at a bigger picture. The market.
A great definition of a market was provided by Dr. Anthony in his video during today’s training.
Market:A community of people who share a common interest in a particular subject or activity, often with their own language built from terms and acronyms.
Using the definition for market above, you can see that within any given market there are smaller, sub-levels of that market that relates to a specific topic. I will use a personal example of this. I go to a church. The people that belong to my church in this example are “the market” because we, the church community, fit the definition above. Within my church there are a number of smaller, sub-levels or niches.
We have attendees who are a group that attend service. We have greeters who are a group that every week greet people attending. We have choir. We have lighting and sound. We have a coffee shop. Each of these areas is a niche within our church. Niches within the market.
Back to the training, we learn that these niches can be broken down even farther into micro niches, or more simply a niche within a niche. You get the idea.
Keywords
When people search online they use words or phrases. In the internet marketing business we call these – keywords. These keywords are critical when we choose a niche or micro niche to do business in. We want to use words that a lot of people will search but not words that so many people search for that we have to fight through competition to be seen for those word and phrase choices. There is a delicate balance that must be found in the market you choose and the keywords you target in order for you to be successful with internet marketing.
Dr Anthony identified four key areas in people who have been successful online. They research markets carefully, they identify profitable areas, they target specific keywords, and they follow a proven plan. So, that is what we plan to do.
Today’s Action
- I researched a few online markets
- I identified 3 examples of the market, niche and micro niche hierarchy