research papers on niche marketing

Proceedings of the 1993 Academy of Marketing Science (AMS) Annual Conference pp 137–145 Cite as

Niche Marketing Revisited: Theoretical and Practical Issues

• Tevfik Dalgic 4 &
• Maarten Leeuw 4  
• Conference paper
• First Online: 01 January 2014

2236 Accesses

Part of the book series: Developments in Marketing Science: Proceedings of the Academy of Marketing Science ((DMSPAMS))

The mass markets of previous decades have splintered into smaller market segments or niches, in which companies could be safer from cut-throat competition and explore new market opportunities. Although part of a positioning strategy, niche marketing may be used as a deliberate marketing strategy to create “safe havens” and business opportunities for many companies. This paper aims to analyze the basic issues, different methods and ways of applying the niche marketing approach.

• Marketing Strategy
• Chief Executive Officer
• Niche Market
• Relationship Marketing

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The Management College-Nederland, Coral Gables, USA

Tevfik Dalgic & Maarten Leeuw

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Department of Marketing, University of Miami School of Business Administration, Coral Gables, Florida, USA

Michael Levy

Dhruv Grewal

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Dalgic, T., Leeuw, M. (2015). Niche Marketing Revisited: Theoretical and Practical Issues. In: Levy, M., Grewal, D. (eds) Proceedings of the 1993 Academy of Marketing Science (AMS) Annual Conference. Developments in Marketing Science: Proceedings of the Academy of Marketing Science. Springer, Cham. https://doi.org/10.1007/978-3-319-13159-7_32

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Published : 06 December 2014

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Online ISBN : 978-3-319-13159-7

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Niche Marketing Strategy Framework for SMEs: A Conceptual Framework

As the research shows thatsmall and medium enterprises are comprising of more than 90% of the business around the world. In the developing countries SMEs contribute to the GDP, poverty alleviation, creating jobs, and have many other benefits which are crucial. According to their significance to country side, human side, SMEs needs to be successful to improve the both sides. The niche marketing strategy is one of the most successful strategy applied by different companies around the world. And those who are using the strategy are enjoying the success of their organizations. For SMEs the niche marketing strategy is beneficial because the owner or manger can build a good relation with the consumers and suppliers. A good relationship is necessary for sale purpose and for reputation building.

Related Papers

Fazal Akbar , Fazli Wadood

This paper aim to explore that niche marketing strategy are beneficial for smaller firms, as they dont have much resources for advertisement. The companies that have adopted niche marketing starategy are enjoying big market share. Globalization forces companies to do search for something new and unique which differentiate them from their competators. As normal in presence, that company stay long in the market whose have knowledge of customers and also offering a unique product. Most important the niches strategy is the knowledge of customers that drives the niche starategy, by understanding and serving the needs of niche market better than any other firms, and awareness of the customers help to safegaurd the customers loyalty.

Fazal Akbar

This paper is based on the premise that it is important to understand what niche marketing is; what its elements are, and also to know about the characteristics of niche marketing strategy. Essentials elements for a niche marketing strategy include segmentation, and positioning. The main purpose of the niche marketing is profitability, adherence to the marketing concept, relationship marketing practices, and building company reputation based on long term mutual benefit with its customers. Small firm must incorporate these ideas and become guerrilla marketers to compete successfully in markets dominated by much larger companies. To overcome these problems and potentially make effective use of niche marketing as a marketing strategy, the literature needs to advance a common definition, comprehensible elements, and most certainly common characteristics.

Journal ijmr.net.in(UGC Approved)

This research shows that small and medium enterprises comprise of more than 50% of the business around the country. In the developing countries like India SMEs contribute to the generating jobs,GDP, poverty alleviation and have many other aids which are vital. Conferring to their significance to country side, human side, SMEs needs to be successful to expand the both edges. The niche marketing strategy is one of the most fruitful strategy, applied by different businesses across the country and world. Those who are using this strategy are enjoying the achievement of their establishments. On behalf of SMEs the niche marketing strategy is beneficial because the owner or manger can build a good relation with the consumers and suppliers. A good customer relationship is necessary for sale purpose and for reputation building. This strategy now days in India followed by the numerous businesses to grab the new opportunities and keep tracing the unattended segments of the market. In India Uttarakhand state is a most suitable for the upcoming businesses.

SSRN Electronic Journal

RAMANAND Yadav

Zenty Lopez

Studia Universitatis Babes Bolyai-Negotia

Marketing Intelligence & Planning

Audrey Gilmore

Matías Morales

Purpose – The purpose of this paper is to examine marketing in small and medium-sized enterprises (SMEs), its role as a driver of competitive advantage, and, therefore, its importance to the firm.

International Entrepreneurship and Management Journal

Mediterranean Journal of Social Sciences

Azeez Adekunle Aliu

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Please note you do not have access to teaching notes, niche marketing and strategic capabilities: an exploratory study of specialised firms.

Marketing Intelligence & Planning

ISSN : 0263-4503

Article publication date: 21 September 2010

The limited academic literature available on niche marketing has mainly focused on market‐specific factors, and the discussion has in particular centred on the characteristics of what a niche is and what causes it to exist. In an attempt to fill this gap in the literature, the purpose of this paper is to identify the strategic capabilities of niche firms.

Design/methodology/approach

In this paper, aspects regarding niche marketing and strategic capability are identified and briefly discussed with reference to the existing literature. Next, the methodology for the research at hand is presented, followed by a discussion of its findings. The paper then continues with the conclusion of this research, followed by pinpointing some of its limitations and providing recommendations for future research.

All the investigated case firms follow a focused differentiation strategy to achieve a sustainable competitive advantage. The focus aspect of the niche firms' strategy is mirrored in the reported narrow geographic market focus, which could be limited to only one country, a limited number of customers – one sole customer in one case – or a limited number of customer types. With regard to strategic capabilities, the results were rather similar across cases, particularly for each pair of case firms within similar sectors (wine, organic salmon, and stockfish). From the case firms' point of view, it is clear that having access to high‐quality raw material is critical to their strategy of delivering high‐quality products. Finally, many of the identified resources and competences appear rather static, or fixed over several years.

Originality/value

The strategic capabilities as identified in this paper can be described and placed at different stages within the firms' value chains. Each stage has its own set of important strategic capabilities. These stages are: inbound logistics, production or refinement, and marketing and sales.

• Niche marketing
• Value chain

Toften, K. and Hammervoll, T. (2010), "Niche marketing and strategic capabilities: an exploratory study of specialised firms", Marketing Intelligence & Planning , Vol. 28 No. 6, pp. 736-753. https://doi.org/10.1108/02634501011078138

Emerald Group Publishing Limited

Copyright © 2010, Emerald Group Publishing Limited

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Mastering Niche Research: Essential Strategies for Success

Unlocking Profitable Niches: The Mastery of Niche Research The realm of business teems with competition, making the discovery and mastery of profitable niches a quintessential skill for […]

Unlocking Profitable Niches: The Mastery of Niche Research

The realm of business teems with competition, making the discovery and mastery of profitable niches a quintessential skill for success.

Isolating a well-defined segment within an industry, also known as niche research, empowers businesses to target audiences efficiently, optimizing conversion rates while minimizing competition.

Paired with resourceful tools like Search Atlas by LinkGraph which provides high-quality backlink and search traffic services, this practice can catalyze business growth exponentially.

Keep reading to comprehend the importance of niche research, understand the anatomy of profitable niches, and learn strategic approaches to unlock untapped potential for every business endeavor.

Key Takeaways

• Niche research is crucial for determining the profitability of an affiliate marketing campaign
• A profitable niche should have a specific target audience, high search volume, low competition rate, and a well-defined product type
• Comprehensive keyword research and backlink analysis are essential for identifying and establishing a profitable niche
• Effective niche research involves harnessing the power of data, exploring customer pain points, and monitoring market trends and competitor behavior
• Maximize profitability in a niche by analyzing the market, implementing SEO strategies, monitoring performance metrics, and using customized link building strategies

Understanding the Importance of Niche Research in Business

Niche research allows selectors to perform a thorough examination across a landscape of opportunities. The focus is on revealing unseen perspectives in a particular niche area, which is an essential element in determining the profitability of an affiliate marketing campaign.

Undoubtedly, the process of niche research plays a pivotal role in the success of businesses venturing into both FBA and dropshipping models.

Establishing a niche is significant in refining the target audience and honing in on specific search terms. It facilitates a focused approach towards keyword research and subsequent link building strategies. Breathing life into this premise, Search Atlas by LinkGraph injects effectiveness in link building services , providing commendable backlink and search traffic services.

An in-depth exploration of a niche market can also drastically enhance the conversion rate. By tailoring the marketing strategies to a specific section of the demographic, companies can create personalized messages that resonate deeply with their potential customers.

This notion can be brilliantly exemplified by studying a research paper’s approach to understanding and articulating the pathophysiology of sickle cell disease (SCD), an example of a niche within the medical field.

Graduate students conduct extensive literature reviews and use in-depth keyword research to fully contextualize the components of SCD, such as hemolysis, mutant hemoglobin, and hematopoietic stem cell processes, with an aim to enhance their comprehension of the disease’s microenvironment. In similar regards, understanding the unique force interactions, or biomechanics, within the niche market can bolster a businesses’ strategic efforts to rank higher on a search results page.

Defining Profitable Niches: What They Are and Why They Matter

In the realm of online marketing, a profitable niche represents a subset of a larger market, characterized by a unique demand that holds the promise of a high volume of convertible leads. It isn’t just about finding a specific category or product type; it’s about manifesting a vision for what fills a gap in the market place. This gap often represents an opportunity to provide a solution or service that meets an unfulfilled need within the market space.

The identification and establishment of a profitable niche require a blend of extensive research, intuition, and strategy. By conducting comprehensive keyword research, analyzing backlink profiles, and employing superior link building services, businesses can identify a profitable niche. These niches often have a distinct high search volume, low competition rate, and offer skilful marketers plenty of room for growth.

The strength of the profitable niche, whether it be the biomedical study of a specific disease such as SCD or an affiliate niche in the dropshipping realm, lies in the following factors:

Metrics of a Profitable Niche

1. Specific target audience 2. High search volume 3. Low competition rate 4. Well-defined product type 5. Search terms aligned with user intent 6. High potential conversion rate

However, identifying such an opportunity isn’t equivalent to mining a vein of pure gold. It requires patience, dedication, and analytical prowess. In the same vein as a literature review conducted by graduate students to decode the pathophysiology of SCD, businesses need to decode their niche by comprehending the microenvironment. By doing so, profitable niches can be transformed into successful and sustainable commerce ventures.

Key Elements That Make a Niche ‘Profitable’

One key element that makes a niche profitable is its demand level. Profitability is enhanced when the niche serves a market whose needs are not currently being efficiently met. For instance, the product or service must fill a gap or provide a unique solution that the current market lacks.

A niche becomes profitable when it caters to a market segment that can be conveniently and efficiently reached. The ease in reaching a targeted audience contributes to the success of any business endeavor. It’s crucial to have an in-depth understanding of the market from demographics to their search page behavior.

Another defining aspect is the competitive nature of the niche. The less competition there is in the market, the higher your chances of reaping substantial profits. To determine the competitive landscape, rigorous keyword research and the utilization of advanced tools like a backlink analyzer become pivotal.

Finally, picking a profitable niche often requires a precise product or service selection that is in line with consumer needs and trends. It’s the alignment between the unique offering and the market demand that ultimately determines the profitability of a niche. This carefully crafted balance can be drawn from comprehensive niche research, similar to the meticulous processes involved in writing a well-rounded research topic.

Strategies for Effective and Efficient Niche Research

One successful strategy for conducting niche research is harnessing the power of data. Comprehensive keyword research can reveal search trends, consumer demand, and potential gaps in the market. For instance, examining search traffic over the years can offer insights into emerging patterns and shifts in consumer interest.

Equally crucial is mining the wealth of information available through backlink analysis. An effective backlink analyzer tool can provide a 360-degree view of a website’s backlink profile . Using an established tool, such as Search Atlas by LinkGraph, can potentially unlock link building opportunities and assist to establish domain authority .

Exploring customer pain points and their pain resolution journey is another effective strategy. By understanding the potential customer’s issues and how they seek solutions, marketers can identify niche opportunities. This strategy often calls for studying customer queries, reviews, and feedback on various platforms.

Lastly, monitoring market trends, developments, and competitor behavior becomes quintessential. Observing what competitors are doing or not doing can unearth profitable business opportunities. Undeniably, emulating successful practices and learning from others’ mistakes accelerates the journey to finding a profitable niche.

Maximizing Profitability Through in-Depth Niche Analysis

Maximizing profitability in an identified niche involves a tiered process. It begins with an in-depth analysis of the niche market, followed by a robust implementation of effective strategies.

From studying niche-specific keywords to understanding the market behavior to devising effective link building strategies , every step demands meticulousness and precision.

Another critical aspect is to maintain regular tabs on the performance of the selected keywords. By closely monitoring the search ranking and site performance, marketers can flexibly alter strategies to ensure optimal audience reach and return on investment.

Equally integral are the niche-specific link building services, which can foster domain authority and improve site visibility.

The following table presents a concise breakdown of the process to maximize profitability:

Niche Analysis Process for Maximum Profits

1. In-depth Niche Market Study 2. Implementing Effective SEO Strategies 3. Regular Performance Check of Key Metrics 4. Customized Link Building Strategies

Lastly, it’s imperative for businesses to adapt to market changes flexibly, just as how researchers studying the pathophysiology of diseases like SCD adjust their methodology based on experimental results. Adjusting strategies based on the changing dynamics of the niche market will ensure sustainability and profitability in the long run.

Turning Niche Research Into Viable Marketing Strategies

Turning niche research into effective marketing strategies begins with a precise understanding of the target audience. Knowing your audience’s preferences, behaviors, and needs is a direct result of robust niche analysis. It enables businesses to produce solutions that the target consumers find valuable, hence increasing the prospect of conversions.

The next step involves the implementation of SEO strategies derived from the niche research. Strategically picked keywords, relevant meta descriptions, appealing content, and high-quality backlinks become integral components in crafting an effective marketing strategy. For instance, tools like Search Atlas by LinkGraph can assist in identifying link building opportunities, consequently strengthening link building strategies.

Optimizing the user experience on your site is another crucial step in turning niche research into a marketing strategy. Keep in mind the user experience while working on your site’s structure and layout, as it will have significant influence on your site’s bounce rate and SEO rankings. When visitors find a site easy to navigate, they’re more likely to stay longer and convert.

Lastly, any successful marketing strategy necessitates continuously monitoring and modifying the strategy in light of evolving market trends. As critical as conducting niche research is regularly updating your strategies to maintain pace with the dynamic digital landscape.

Hence, niche research is not a one-time activity but a continuous process that keeps businesses abreast with market changes and lets them stay ahead of their competitors.

Advanced Techniques for Identifying Untapped Niches

In the ever-evolving landscape of digital marketing, identifying untapped niches can be the key to achieving remarkable success. It is crucial for businesses to uncover niche markets that are ripe for exploration and expansion.

Advanced techniques for niche research go beyond the basics, delving into areas that can significantly impact your marketing strategy. This comprehensive guide explores three advanced techniques for identifying untapped niches, offering actionable insights for successful niche discovery and exploration.

Exploring Emerging Trends and Market Gaps

Exploring emerging trends and market gaps is a proactive approach to discovering untapped niches. These advanced techniques involve tracking shifts in consumer behavior and preferences, thereby uncovering opportunities that align with evolving market dynamics. The goal is to stay ahead of the curve and capitalize on emerging trends.

In this process, the utilization of tools like Search Atlas by LinkGraph can be invaluable. It provides high-quality backlink and search traffic services, alongside a backlink analyzer tool, which can help businesses to identify not only link building opportunities but also trends in the online landscape.

By tracking the performance of content related to emerging trends, businesses can identify rising interests and explore niches that are on the cusp of rapid growth.

Analyzing Consumer Behavior and Preferences

Analyzing consumer behavior and preferences is at the heart of understanding the psychology of target audiences. Advanced techniques involve in-depth market research, user surveys, and sentiment analysis to gather insights into the needs, desires, and pain points of consumers. This data can then be leveraged to identify untapped niches that align with consumer preferences.

In this context, Search Atlas by LinkGraph can provide valuable data analytics that reveal consumer search patterns and preferences. By harnessing this information, businesses can identify niche opportunities that align with the specific interests of their target audience.

Moreover, businesses can evaluate existing trends, products, or services that are underrepresented in the market, offering potential niches to explore further.

Leveraging Data Analytics for Niche Discovery

Leveraging data analytics is a cornerstone of advanced niche research. This technique involves the use of data-driven insights to identify gaps and opportunities within the market. Data analytics can help businesses uncover niches by examining metrics such as search volume, competition, and historical data.

In this aspect, Search Atlas by LinkGraph is a high-quality option for gathering valuable data analytics. By utilizing their services, businesses can access comprehensive data on keyword performance, search traffic, and backlink profiles.

By assessing this data, they can pinpoint areas with high search volume and low competition, which are indicative of potential untapped niches. The platform’s data-driven insights can facilitate businesses in making informed decisions about which niches to pursue.

The art of unlocking profitable niches through masterful niche research is a vital skill for businesses striving for success in an increasingly competitive online landscape.

It demands not just the identification of a specific category or product type, but the ability to discern what exactly fills a gap in the market place.

The essence of profitability lies in comprehensive niche research, from identifying high demand, low competition opportunities, to seeking a specific audience, and tailoring the marketing strategy accordingly.

Always remember, the successful manifestation of niche research into marketing strategies relies heavily upon using effective tools like Search Atlas by LinkGraph, constant monitoring and adaptation to market changes.

Thus, mastering niche research is an undeniable factor in the success story of any profitable business venture.

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6 Simple Steps to Niche Marketing Research

In business, one of the most important pieces of advice you’ll receive is to know your market. If you want to guide your business to success, you’ll need to research your niche first. 

But, researching your niche is about more than knowing who your audience is. To profit off your passion, you have to know where there’s potential for success. 

You’ll also need to know where you can fail before you reach that point. 

This includes knowing aspects of your business such as:

• How much it costs to get started
• Where you need to focus your marketing efforts
• What ROI counts as “profitable” in your niche

That’s where our Niche Marketing Research Guide comes in handy. We’ll point you in the right direction, so you can be prepared for success when you launch your new business . 

What is Niche Marketing?

A niche market is a small segment that a product or brand caters to. For instance, the wedding planning market is enormous. If you wanted to stand out in the crowd, you could focus on nontraditional ceremonies, for example. 

In the digital world, we usually refer to a niche market as just a market segment or a segment in a sector. For example, eCommerce is a market sector, selling bowties online is a niche.

Niche marketing is the process of defining, honing, and marketing to your niche. The key is to define your market with precision and intent. If you want to turn your audience into raving fans, it’s important to target the right people with the right products. 

To that end, let’s jump straight into the first tip of our Niche Marketing Research Guide. 

Step #1: Identify Interests and Problems

If you’ve been considering your business for a while, you’ve likely completed this step already. But, if you haven’t, it’s important to know what you’re passionate about. 

While not every passion is profitable, it’s still important to work in an area that interests you. Otherwise, chances are that you’ll quit when the going gets too tough. 

Once you know what segment of the market you want to work in, it’s time to seek out problems you can solve. 

To get an idea of where the problems in your target niche lie, it’s important to dive into the industry. 

Let’s check a couple of tips where you can identify ideas:

Your own experience

The basic source of inspiration is your own experience. Maybe you thought of a service that might be very handy but nobody is operating it. Or you were looking for a piece of information that is nowhere to be found. 

• Bezos started Amazon because he wanted an “everything store”.
• Brin and Page founded Google because they wanted a better way to search the internet. 

These of course are the top examples, but there are many more that are under the radar. 

Internet Audience

Inspiration is found in the most unexpected places. For example, Reddit has a section called ShutUpAndTakeMyMoney . While it is of course not advised to jump on the first post and start investing time into it – it can give you some interesting ideas on where to do more research. 

If you repeatedly see an ad, it probably works. Facebook is a good source of such ideas:

4k likes and 392 comments? This ad is running for quite some time. Meaning it is working well and the product is selling.

See if you can identify new trends and draw inspiration from them. For example, Check Google Trends or Pinterest Trends , write some ideas down for later research. It does not have to be the final market or product idea, just some overall themes that you may develop. 

Also Read: Content Marketing: How to Succeed

Step #2: Identify Your Market

Once you have a couple of overall ideas about what could be a good niche to have a more detailed look at it is time to estimate the market size. 

Google Trends

Here we can have a look at google trends again:

While this does not give you the exact number of searches. It provides you with an overall idea of how big the potential audience may be. You can also check seasonalities:  

Sure, “Christmas” may mean any kind of search intent, but with upcoming holidays it might be an indicator that your market idea should have a particular angle. 

Advanced Research

If you want to take it one level higher, you might want to check some of the SEO tools that are available . Ahrefs is one of the most popular ones so we will illustrate it on it:

Here we can see more details, from this we know the overall search volume and assumed difficulty to rank high in Google search results. There are also many additional keywords that are suggested for further research, which is one of the services that Spiralytics provides to its customers . Let’s compare it to rc models:

With similar difficulty, we see that the search volume is much lower, BUT the term “motion rc” has over 20k searches, that is because they are one of the most established stores in this niche.

It might happen that you find a niche that seems to be easy to get into, so immediately start asking a question why is that so? For example, some niches may be easy to rank for because there are no ways to properly monetize it. 

That gets us to step number 3. 

Step #3: Determine Your Profitability 

Once you have an idea of your industry and audience, it’s important to know what your prospects look like. 

You can get started by looking up top products or services in your niche. Then, analyze what it costs to serve your chosen need. 

Say that you want to make handknit goodies. You’ll need to know what you can get out of your goods, plus the cost of materials. 

Knowing how much time it takes to produce a single item is essential, too. After all, time is money when you own a business. 

If you can’t find much about your preferred niche, that’s a red flag. While there may be a market out there, a lack of information indicates a small customer base. 

Your ideal situation, then, is finding a small niche with good profit margins. An unsaturated market and limited competition give you the best edge in turning a profit . 

Let’s have a look at some ways that you can monetize your niche

Affiliate Marketing

When doing your research this is the term that you frequently see. Affiliate marketing is a process where you drive traffic to the offer and if the visitor takes an action (buys, downloads, registers, etc.) you receive a commission. Such programs are organized by affiliate networks. 

There is a wide choice of affiliate programs for every niche imaginable. If you check around and there are no affiliate programs for that particular niche you have to consider if it is at all monetizable or looks for other methods of making a profit from it. 

Ad Networks

If you found a great niche, with fantastic traffic potential from the US, but no affiliate programs that would be a good fit – ad networks are the answer. These networks place advertisements on your website and pay you for each user session. 

The most known ad network is Google Adsense, it is widely used as it has no barrier of entry. When you reach 10 000 sessions per month you will want to join a more premium ad network as Ezoic . Over 50 000 there is Mediavine and over 100 000 AdThrive . This can be combined with other methods of monetization. 

Online Store

Possibly you found a niche that requires an online store, that means that you are in ecommerce niche . No problem platforms like Shopify or Sellfy got you covered. You will have your online store ready in a few hours (including all the settings). Then it is just a matter of driving traffic and sending the products. 

Dropshipping

But what if you do not want to buy inventory or make your own products? Again, the world wide web thought of everything. With dropshipping you just transfer the order from the client to the manufacturer and get the profit margin. This is a great stepping stone into ecommerce as you can test products very quickly without any big financial commitments. 

Print On Demand

Online store or dropshipping seems like too much hassle? Check some of the print-on-demand services (like Teespring ) chose an item that you would like to sell, add your logo or a full design, and start driving traffic to your print-on-demand store. 

Online Courses

Maybe you are a skilled Octobass player (yeah…google it). The term has 9.4k searches globally with very low difficulty. But how to monetize it? You won’t find any affiliate programs, you won’t craft an octobass, reselling from amazon will bring you next to nothing.

Create lessons! A recent study from StuDocu found that 77% of businesses used e-learning in some capacity and 42% of companies that use e-learning generate more income. With online course platforms , you can record your lessons once, and sell it for eternity. This is a great option to scale monetization of skill, rather than a service or a product. 

Let’s take a difficulty up a notch. Are you an analyst in a particular market niche, that just finished research that is nowhere to be found? Great, choose any webinar software , and make a paid life event or a pre-recorded webinar for the niche you are in.

As you can see you can monetize anything online. Just keep in mind one thing – if you like something as a hobby, it does not mean that it will be hugely profitable. So “do what you love and you will no work a day in your life” is not completely true. 

Step #4: Decide Where You Want to Start

Given the various options that are listed above, you will need to decide where to start. 

In fact, plenty of entrepreneurs start by partnering with marketers and creators. These commission-based arrangements provide a source of income for newcomers.

Plus, working with competitors and related businesses lets you learn about the industry. In doing so, you have a chance to decide if this is where you want to be.

You’ll also be able to see where your competitors have flaws through this process. In learning from their mistakes early, you can capitalize on the market in a more effective manner when you’re ready to start selling. 

Additionally, a soft working entry gives you an idea of where the market is going. This makes up a “sub-tip” in our niche marketing research guide: you should have an idea of where the industry is headed. 

After all, technology and society are evolving faster than ever. Jumping ahead of the curve may be your best shot at thriving in these unprecedented times. 

So apart from the market size and potential profit, you must also decide what type of traffic are you going to go after.

Organic Traffic

The holy grail of traffic sources. It is traffic that you receive organically from search engines based on the visitors’ search queries. Most lucrative and most competitive – dominated by Google. 

Every platform with an audience has a paid ads platform . It is a great way to get immediate clicks and see how your offer works. While organic traffic takes a very long time before you can see any results at all, paid ads are instant and you can target the exact audience that you need. 

Social Media

While all the social media platforms are running paid ads, there are many options on how to create a following from which you can profit. It takes a bit more time to build the audience but it is quite loyal to your brand when you do.

There are ways to get immediate results from social media. You can work directly with various influencers , go right after your audience and test ideas very quickly. This is one of the tactics frequently used in combination with dropshipping. 

Contests and Giveaways

This would be more in the category of “guerilla marketing” tactics. You can run a referral contest to build your audience more quickly. Gaining visitors, followers, and even email subscribers in the process.

The idea is very simple, you offer a price (service, consultation call, 6month trial) in exchange for your audience signing up with their email, or following your social media account. 

Email Marketing

Last, but definitely not least. Email marketing is a powerful tool that you should build from the start. It is listed in the last position as you do not have immediate access to a huge email list. Choose any of the email marketing services, put them on your site, and build your subscriber count. Soon it might become one of your most profitable traffic channels and also a way to expand to new projects. 

The traffic source is one of the defining cornerstones of your niche. It is easier to find traffic and monetize it than to take a product and think about the traffic after.

Step #5: Find the Right Keywords

Now that you have an idea of what you’re getting into, it’s time to research your keywords . 

This is an opportunity to play around with your business and content ideas. 

When it comes to keyword research, start by doing a basic Google search. See what results come up and if there’s a particular way your competitors phrase their headlines. 

These are their keywords. 

Once you have a good-sized list of keywords, you can plug them into a keyword tool. Options such as Google’s External Keyword Tool and Yoast Keyword Expander are free. These invaluable sites can help guide newbie niche keyword researchers to the right keywords. 

When using these sites, it’s important to home in on key information, such as:

• How difficult it will be to rank for that keyword
• The number of people who look up and click on that keyword
• If there are any variations of your keyword that perform better

Ideally, you want a keyword you can rank for with little effort. You also want keywords that get at least 1,000 searches per month. 

Knowing if any of your keywords tend to be paid for is a good idea, as well. CPC, or cost per click, is a measure of how much your competitors pay to rank for a keyword. 

While it’s not impossible to rank for CPC keywords, they’re usually harder to rank for. 

But a high number of CPC keywords in your niche also shows there is money to be made. 

When looking at keywords as a measure of niche profitability, you’ll want to example metrics such as:

• High CPC for your chosen keywords
• Targeted ads that focus on the main keywords
• Ads in the top 3 positions of your search engine results

Step #6: Research the Competition

It’s rare for a business to have no competition. Even in a tiny niche, there will likely be at least one other company with an overlap in products and customers. 

In fact, having a little competition shows that there’s money in your chosen market. While too many competitors can drown you out before you’ve begun, a few decent-sized competitors can keep the audience coming back. In turn, you can capitalize on the existing market. 

But, if you want to compete in the market, you’ll need to know what your competitors are up to . This involves knowing what needs they’re servicing, as well as any areas they may be overlooking. (Which may give you an easy inroad into the niche). 

First, start by creating a spreadsheet of your known competitors. You may also want to include information such as their products and services. 

Then, see if there’s an area of the market your competitors aren’t servicing. Can you rank for your keywords? What else or more could you do?

Look for indications of weak competitors, such as:

• Poor content . Regardless of your niche, content generation, such as a blog or any website is essential to building credibility. If your competitors don’t have high-quality content, you may be able to find your angle there. 
• No paid competition. If you have a list of keywords with low competition and high search volume, capitalize on it as soon as possible. 
• A corporatized environment. People want authenticity – so much that they’re willing to pay for it. If you want to enter an environment with a strong corporate presence, try doing the opposite. 

Test Your Ideas

Now that you’ve done as much research as possible for your niche, it’s time to guide your attention to the testing phase. All this work would be worthless without putting it all into action. 

Pick a landing page builder and get your website going, record the webinar, start an eshop, write down your online course, it is time to act. Once your landing page is up, you can start driving traffic as per our Step 4.

While there are a lot of science-like approaches to online business and digital marketing, still there is some “alchemy” to it. So even though after a week of research and two weeks of testing you are not getting any results – do not give in. 

The thing is that it is difficult to know when you need to pivot and when to keep pushing forward. To solve this, when launching a new project, set time, and financial limits.

Look for an indication that you are moving in the right direction. Do not look at the ultimate numbers but first, look at percentages in clicks and conversion . If those numbers work you can think about volume.

There is one step that is the most important one “Do it”. No, it is not the slogan of Nike, it is a part of speech by Art Williams: “Do it, and do it, and do it, and do it …until the job gets done.”

There are nearly 3mil. new posts each day just on WordPress. Let that sink in for a minute. The easy way in, creates a lot of competition. If you are starting to be anxious about starting your online endeavor – don’t be. You can try as many times as you want without any notable financial consequences. 

With each project that you launch you learn a bit. Maybe your first project will be a success, maybe it will be your 5th. Nobody knows. It takes only that one project for everything to click perfectly together, to pay off for all the struggles both financially and emotionally.

So get to it.

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Environmental and social benefits from diversified agriculture found in global study

Food security and biodiversity are both helped by diversified farming techniques, with little negative impact, according to a new paper that includes research from two Washington State University professors.

The study, published in the journal Science , involved 58 co-authors located at institutions on five continents.

“The results are overwhelmingly strong for all diversification strategies,” said David Crowder, a professor in WSU’s Department of Entomology. “The working theory is that diversity is good in agriculture, but I was surprised that the benefits were so strong.”

Crowder and his colleague Jeb Owen, an WSU associate professor in entomology, both contributed data to the paper, which was a meta-analysis of 28 global studies. In fact, neither Owen nor Crowder knew the other was involved in the paper until it was nearly published.

Owen’s contribution centered on wild birds and their impact on organic farms. His lab conducted surveys at 30 different locations in four states, including Washington, to look at costs and benefits from wild birds as well as each farm’s crop diversification.

“We found that the more complex and diverse a farm, the wider the diversity of wild birds it supported, and that the birds were a net positive for the farms,” Owen said.

Owen’s former graduate student, Olivia Smith, led his wild bird research and was another co-author on the new paper.

Wild, native birds fed on insect pests that damage crops, decreasing the need for pest-control measures, while not increasing pathogen spread or destroying crops, he said.

Crowder’s contribution included his lab’s research on canola and different tillage processes used by growers.

“There’s a lot of research at WSU looking at diversified farming and ways we can improve the sustainability of farms,” Crowder said. “This paper shows that WSU is plugged into global issues, and I hope we see more of this out of the university.”

Laura Vang Rasmussen of the University of Copenhagen is lead author on the new study and worked for nearly four years to coordinate and synthesize data from around the world.

“Our results from this comprehensive study are surprisingly clear,” Vang Rasmussen said. “While we see very few negative effects from agricultural diversification, there are many significant benefits. This is particularly the case when two, three, or more measures are combined. The more, the better, especially when it comes to biodiversity and food security.”

The researchers saw the greatest positive effects on food security, followed closely by biodiversity. Furthermore, social outcomes in the form of well-being also improved significantly.

Among the many strategies adopted, livestock diversification and soil conservation had the most positive outcomes.

Yields not hampered — with clearly improved food security

According to the researchers, previous studies investigated either the socioeconomic or environmental effects of agricultural diversification. This study investigates effects across the board, with surprisingly positive results.

“Agricultural diversification has been accused of perhaps being good for biodiversity, but having a few negative aspects too — especially with regards to not being able to achieve sufficiently high yields,” said Ingo Grass of the University of Hohenheim. “What we actually see is that there is no reduction in yield from diversified agriculture — not even when we include data from large-scale European agriculture.”

In fact, the figures demonstrate that in the case of small farms and farms surrounded by lots of cultivated land, more diversified agriculture can significantly promote food security. This, according to the researchers, could be due to a number of factors.

“One example is fruit trees planted in maize fields in Malawi, which can help farming families improve their food security through improved diet and nutrition,” Vang Rasmussen said. “Partly because they eat the fruits themselves, and also because the trees generate extra income when their fruits are sold at market — income that provides small-scale farmers with purchasing power for other foods.”.

All 58 of the study’s authors participated actively in its design to attempt a robust and credible interweaving of the many data sets spread across the world — from maize production in Malawi, to rubber trees in Indonesia, to silvopastoral cattle farming in Colombia and winter wheat in Germany.

“The study unites many different situations from the many data sets that we used,” Vang Rasmussen said. “In Malawi, we have data on food security expressed, for example, in the number of hungry months for small-scale farmers where they have been short of food. Such metrics are not used for, for example, large European farms, where we have yield data instead, such as winter-wheat yields in Germany.

“But the point is that when we look across all data sets, our results show that applying more diversification strategies improved both biodiversity and food security, and didn’t have a negative effect on yields,” she added.

The researchers also investigated which diversification strategies result in “pairs” of favorable “win-win” outcomes. Their data showed that strategies beneficial for biodiversity also improved food security.

They also witnessed win-wins for biodiversity and people’s well-being.

“It’s a simple message to be able to pass on to different types of farms — whether it is small farms in South America or Africa or advanced European agriculture, there are lots of positive effects to be gained by introducing these various strategies — and very little to fear,” Grass said. “It is very positive that so many different things can be addressed, and that, in general, positive biodiversity outcomes seem to go hand in hand with well-being and food security.”

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Small Niche U.S. Life Insurers - Peer Review April 2024

Wed 10 Apr, 2024 - 12:29 PM ET

Small Absolute Size: Life insurers in this peer group are small in terms of assets and surplus, but differentiate themselves through a targeted focus on specific products and services in niche markets, which allows them to compete against peers with greater scale, diversification and financial resources. Differentiated Niche Markets: The life insurers in this group are narrowly focused on separate and very distinct markets. Pan-American targets the Hispanic and wealthy foreign national markets in the U.S. and is a leading life and health insurer in select Latin American and Caribbean markets. Navy Mutual’s customer base includes all personnel in the U.S. uniformed services, including members of guard/reserve components, members of the National Oceanic and Atmospheric Administration and the U.S. Public Health Service Commissioned Corps, as well as retirees from these groups.

2024 Research Conference - Call for papers

Environmental risks and esg investing: securities market impacts.

Paris, 15 October 2024 (Hybrid event)

The 2024 ESMA Research Conference aims to bring together academics, policymakers and industry professionals to discuss and analyse the impact of environmental risks and ESG transition on EU securities markets. The conference will explore developments and risks in this area, considering both investor protection and financial stability implications. We invite interested authors to submit empirical, theoretical or critical papers that address the themes. Find further details in the document .

ESMA50-43599798-9409 Research Conference 2024 - Call for Papers (EN)