The problem is that many websites (more than 50%) are trying to appeal to everyone and hoping anyone listening to them. These websites are too broad and too generic in terms of what they are covering.
The websites end up producing too much noise and offering too little value.
That’s why to find a niche, you need to drill down i.e. Get to the audience base of smaller size.
This allows you to compete with fewer direct competitors and reach your target (or niche) audience much quicker.
To find the niche market that you’re going to work on for the next few years, follow the 4-level approach.
Level 1 – Industry e.g. Self improvement
Level 2 – Market – e.g. Confidence improvement
Level 3 – Person e.g. An introvet 25 year old male
Level 4 – Reason e.g. Want to get a girlfriend
Your online business needs to make money to survive in long term. But how to make money from the niche of your choice?
Passion gets people to spend money. An example is where people take part in a hobby that they love. Such hobby can be playing online games. Some gamers spend a lot of time addicted playing certain specific games online with friends and/or other gamers online.
To get a problem solved or achieve a goal, people spend money. A gamer’s goal may be to win the game or beat other gamers. Most online games (nowadays mostly played through mobile phones) are free. But for gamers who want to advance to higher levels and beat all other gamers in that same game, they would have to “purchase” upgrade items in the game.