Product Niches vs. Market Niches - Caleb Jones

One of the hardest things to do when formulating an Alpha 2.0 business, perhaps the hardest thing to do, is determining your niche; that market niche who will buy your products / services / information. I get more questions on this topic than any other business area.

One of the biggest things guys do wrong when trying to determine their niche is they mix up the product niche with the market niche.

A product niche is when you niche the thing you’re selling.

A toaster isn’t a niched product. Pretty much anyone can have a use for one and could buy one.

A pregnancy test is also not a niched product. It’s certainly a more narrow market than a toaster, since only females of child-bearing age can use them, but that’s way too broad to be a niche.

A liquid testing kit for verifying if gold coins are real… now that’s a niched product. That kind of thing only appeals to people who purchase gold coins.

When I say “product” I also mean information or services. Selling industrial drainage pipe cleaning is a very niched service. Selling an ebook on how to build a 1974 Pontiac GTO from scratch is a niched information product.

A niched market is different. That’s the market you’re actually going to sell your product (or service or information) to. If I sell an ebook on how to get a girlfriend to anyone, I’m not niching my market. If instead I only sell it to divorced men over age 50, now I’m niching my market. It could almost be the same damn book. (It probably shouldn’t be, but it could.)

Some guys attempt to niche their product without niching their market. (“I’m going to sell a custom day trading system only focused on tech penny stocks to anyone who wants it.”) This fine, but not a great idea. Selling to the entire world is a very hard thing to do even if your product is amazing.

Other guys attempt to niche their market without niching their product. (“I’m going to sell accounting services to architects.”) This is better, since you are niching your market, which is the most important aspect of all this. This can work and I’ve certainly seen people make money this way (myself included). But it’s not the absolute best way to do this.

The best way to niche is to niche your market and your product. (“I’m going to sell a gold coin testing kit to extreme right-wing end-of-the-world types who only buy nonnumismatic coins.”) If you can niche what you’re selling and the market to which you want to sell it, now you’ve nailed it. Assuming you’ve got really good margins on what you’re selling, with just a little marketing you’ll be making money very quickly.

9 Comments on “Product Niches vs. Market Niches

  1. I am building a business selling the service of sending a first canned message of the client’s choice to thousands of online dating profiles matching the dating site search criteria of the client’s choice on behalf of the client who wants to save time and tedious work when they create a new dating account or move to a new city, or just want to launch a new online dating campaign or blitz as you call it. Is this service niched enough according to you?

     

    The broader niche of returning clients are men aged 18 to 60 who seek heterosexual relationships during their travels or often move to new cities. The niche within the niche are “love tourists” and “digital nomads” seeking relationships with multiple women. Is this market niched enough according to you?

     

    What key words would be important to use when writing to the niche market about the niched service for SEO optimisation?

  2. above is for products that are physical retail products ?

    when it comes to services ,selling wants ,isnt that something you have to create the market ,not like physical retail products like grocery or drinks where anyone just buys and are active in location of market

    “be affiliate marketer”

    “be business consultant”

     

     

  3. Is this service niched enough according to you?

    No. Because it applies to “all men who do online dating.”

    The broader niche of returning clients are men aged 18 to 60 who seek heterosexual relationships during their travels or often move to new cities.

    Not a niche. Way too broad.

    The niche within the niche are “love tourists” and “digital nomads” seeking relationships with multiple women. Is this market niched enough according to you?

    Yes, there you go.

    What key words would be important to use when writing to the niche market about the niched service for SEO optimisation?

    Different for every niche. You’ll have to do your own research on that.

    above is for products that are physical retail products ?

    No. All products.

  4. Lol where can I find the “ebook on how to build a 1974 Pontiac GTO from scratch.”  Asking for my dad

  5. Lol where can I find the “ebook on how to build a 1974 Pontiac GTO from scratch.”  Asking for my dad

    In my mind.

  6. Hey bd,

    I just left a business conference ready to take action on my business. It’s a coaching/ self development company geared towards young men wanting to join the business world. It helps them develop the mindset to take risk and do what they truly want to with an outcome independent mindset.

    So if I understand what your saying my

    market niche- self development for young entrepreneurs

    product niche- mindset of risk taking/ outcome independence

    Do you think that is niched enough or would you recommend me getting even more specific?

  7. market niche- self development for young entrepreneurs

    product niche- mindset of risk taking/ outcome independence

    Do you think that is niched enough or would you recommend me getting even more specific?

    Based on his article and his answers to the other guy I would def say its not enough, but lets see if I was right or not…

  8. It’s a coaching/ self development company geared towards young men wanting to join the business world.

    Not a niche.

    market niche- self development for young entrepreneurs

    “Young entrepreneurs” is not a niche. Way too broad. If you instead said, “Male entrepreneurs under age 30 in the tech industry,” now that’s a niche.

    product niche- mindset of risk taking/ outcome independence

    That is not a product.

    Do you think that is niched enough or would you recommend me getting even more specific?

    Way more specific on both.

  9. I’m thinking of starting a blog and get into affiliate marketing

    Product/Topic niche -Guidance/Counseling on managing and eliminating unsecured/tax debt, tax debt, repairing/rebuilding credit. I’d also thought about adding posts/tips on how to handle employment, relationship, and legal/background obstacles

    Market Niche: middle aged males new in recovery from substance abuse with 10k+ in unsecured debt

Leave a Reply

To leave a comment, enter your comment below. PLEASE make sure to read the commenting rules before commenting, since failure to follow these rules means your comment may be deleted. Also please do not use the username “Anonymous” or “Anon” or any variation thereof (makes things too confusing).

Off-topic comments are allowed, but Caleb will ignore those.

Caleb responds to comments in person, but he only does so on the two most current blog articles.

Related Posts

Begin typing your search term above and press enter to search.