Marketing analysis of a market niche
LAnyone who has a business has heard this term at least once: niche market. Most people know what it means, but few know how to find it for their business and provide a solid foundation for successful promotion.
What is a niche market
A niche is a clearly defin business segment consisting of people with common interests and nes. Niche analysis is a mandatory step on the path to a profitable business. This allows you to correctly select your target audience and ruce the percentage of direct competition.
Unlike mass markets, people in a niche market usually sh the same nes and sense of belonging. To know if a niche is profitable, you ne to make sure that there is a target market that is willing to spend money and that the trends for that market not downward.
Before starting any business you should
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clearly imagine your sector: who the competitors, what tasks the company will solve. To know and analyze this data, it is worth using different systems and tools. The best strategy for determining the segment can be implement using effective tools Google Keyword Planner, Google Trends.
In fact, implementing a niche strategy does not simply mean concentrating on one or more small market segments. Small size is a typical feature of niches. But it is not enough for a market segment to be small to be a niche. A niche is one if it is form by a group of customers with very specific nes that different from those of the general market. These people who willing to pay to satisfy their specific nes.
A niche strategy has two big advantages: high profitability and relatively low competition. And a properly conduct niche analysis for a website will allow you to find a profitable direction.
Using Google’s Keyword Planner
Keyword research is us to understand how people search for specific products/services through search engines. It is also important to understand how often certain keywords us.
If a market niche analysis is being conduct, keyword research can be useful for finding sub-niches, relat niches, thinking of plans, strategies, partnerships with relevant sectors, etc.
Typically we analyze:
- Search volumes: How often on average people search for a particular keyword.
- Keyword Difficulty: The estimat degree of difficulty requir to achieve the highest rankings (search engine competition is examin).
- Correlations: For example, relat keywords for “Hotel Kyiv” could be “4 star hotel Kyiv”, “Hotel Kyiv in city center”, “Cheap hotel Kyiv”, etc.
- Trends or seasonality: If a key is strong in the summer and we want to position ourselves in time, we should start working on it at least 6 months earlier. By making these estimates, we can get a cler idea of when we will start the project and what the deadlines for completing the entire work will be.
Bas on the select keywords, paid advertising can be develop in the future, and an SEO promotion strategy can be thought out.
Using the Google Trends tool
A free service from Google is us to analyze trends. If a term relat to a market segment loses interest, this can be an alarm bell. Business niche analysis using such a tool is us to understand how promising the chosen direction is. Moreover, trends help us understand the seasonality of certain markets and best plan all promotion strategies.
Marketing analysis of a niche and competitors using a specific example
The specialists of iPapus Agency conduct a study of the Polish market in the Tech sphere.
Google Keyword Planner
Initially, the most popular key phrases on the topic of tech were collect from competitors’ sites and search, which can be us to build a new site structure in Google search. This structure can be us both for paid advertising and for a block in SEO website development.
When working on the semantic core, it was conclud that direct demand for services does not cover the entire market. Analysis of the site niche made it possible to understand that the select product may be of interest to an audience that is looking for near-target queries that do not directly correspond to our product, but relat to the child’s ucation or pnt-child relationships of the target age.
Google Trends
At the second stage, iPapus Agency specialists analyz the tech topic for demand using the Google Trends service over the past 5 years for the Poland region, for the 10 most frequent keywords in the topic.
It was found that at the time of the study, the topic periodically gains popularity. Starting from 2021, the demand in this niche has decreas in the Poland region, but in the months of high demand (for example, September) it has a popularity of 70/100. Bas on the data structure java version results of the market analysis, it was conclud that the ucation niche in the Polish market has average demand. At the same time, the narrow niche of online ucation and child development is free, since the market now has players focus on offline learning.
The main subregions where there is demand for tech topics were analyz. Bas on this data, it was possible to determine that the most popular :
- Lublin Voivodeship;
- Masovian Voivodeship;
- Podlaskie Voivodeship;
- Subcarpathian Voivodeship.
Lower demand is shown by: Opole Voivodeship and Świętokrzyskie Voivodeship. Each region can give us positive results in relation to the target profitability, but first of all we ne to focus on the most popular regions.
Analysis of the competitive environment
Having analyz the search results for queries in the tech niche in the Poland region, our specialists identifi several main direct competitors and competitors with the same audience in the tech topic, which account for the majority of traffic in the search.
Competitors were select bas on the volume of keywords display on the tech topic, external links, and content. It was possible to identify that competitors use the sale of services on the site for both online and offline events. From this we conclude that online ucation for children/pnts is relevant in Poland. The work carri out allow the business to enter a new market with the achievement of profitability goals.
