What is a microniche, niche and market?

[lisahartwell]

Sorry about the extra large type in the previous post - I want to make sure you really, really read what I've said and stop speculating

[Gord Young]

Geez. You don't have to yell.

Great advice though.........don't try to jump ahead........make sure you fully grasp what is being taught each day.

As a veteran of the 30 Day Challenge, I am using this as a great opportunity to review what I think I know and
fill in things I may have forgotten.

I am also anticipating learning lots of new and exciting stuff from the "master geeks" again this year as in
every other year.

[lindsaymacvean]

It seems to me that people get hung up on deciding whether something is a market or a niche or a micro-niche when the real secret seems to be to identify what people want. This can be done by finding a self organizing group of people and seeing what they need.

What if you go to a party and meet a stranger they will usually describe themselves by applying labels to themselves and then giving you a bit of background. I like to imagine the internet like a giant party . If you just listen to what people want we could instantly identify the market niche and micro niche, and more importantly the language that people use from that market SO...

1. Market
You ask the stranger what they do?
'I am a doctor' (market = Health Professionals)
'I have two kids' (market = Stay at home mum)
'I am moving house at the moment' (market = Home Buyers)

2. Niche
People usually go on to describe a little bit more...
'I work with skin diseases' (niche = skin health)
'My daughter is having alot of problems with maths at the moment' (niche = maths for 12 yr olds)
'I need a bigger house for the family and a better school' (?? Im not perfect, Im not sure what niche this is)

3. Micro Niche
You say that must be interesting/difficult/time consuming/useful etc etc.
People usually then pose a question...
'I wish I could find the perfect cream for moisturisation?' (micro-niche = skin moisturisation)
'Its pythagorus that really gets her.' (micro-niche = pythagorus for 12 yr olds)
'I really need to research the best school in the area' (micro-niche = choosing the best school)

So it seems that the real secret is first finding a label that people apply to themselves (not a label that us marketeers apply to them) and go after this market. Then find the questions that people are asking, and answer these questions with a product...

I wrote another post over here about using google to find forums and then discover questions that people are asking -Different-Market-research-techniques

[highlandgirl]

I would disagree. I would say you should be looking to target the "Dry Hair Conditioning Treatments" micro-niche.

Dry Hair is too broad and doesn't mean anything. You can have Dry Hair Remedies, Dry Hair Causes, Dry Hair Shampoo etc. Its better to know exactly what your market want and be specific, rather than too broad. Do you think its easier to build a site and get targeted prospects to it looking for all of these things related to Dry Hair OR easier to get target traffic to a site about Dry Hair Conditioning Treatments?

I hope this helps. You want a market that is specific. If its too broad the traffic you get will be less targeted and you will have more competitors.

Thanks, this is what I initially thought too, but then wondered if 'Dry Hair Conditioning Treatments' would be too limited. I think you have explained it well though. All the posts in this thread have really helped me understand the process a lot clearer.

@Ben Baca - thanks for your explanation too. Although we shouldn't be considering Market Samurai numbers at this stage, your explanation has definitely made things clearer for me.

I realise that we should be taking each lesson at face value and not trying to second guess the challenge, I'm simply trying to get 'clear' in my head the difference between Market/Niche/Micro-Niche and this thread has been a great help.

Thank you everyone!

[lisahartwell]

Don't worry about "dry hair conditioning treatment" (or any other microniche) being too limited for now. As long as you grasp the concept (which you do) you've grasped today's training

Lisa

[beebee17]

Lisa- you nailed it! Those of us from before are over analyzing. I'm finding the hardest thing I have to do is to keep from saying but it was done another way last year. I used the google keyword tool to get my niche and micro niche words but reading forum postings- it would have been better to have just used my head. Mistake number one. Good thing it isn't 3 strikes and you're out. lol

[Shawn Du'Mmett]

Thank you guys for the great answers and discussion. I have gained something already from the challenge - I'm thrilled.

I've got to admit I never really paid too much attention to the definition of this before as it used to be simply a case of using a market ('keyword1'), then going to niche ('keyword1 keyword2') and then searching for longer tail keywords ('keyword1 keyword2 keyword3') and treating them as microniches. I understand now although it worked to a point that it was very simple minded.

I know we will likely get a quantitative definition later when we search for keywords in Market Samurai but I will now be asking myself questions about the quality like 'out of the hundred who typed in keyword x, what proportion of them probably wanted y or z'.

[Jim Sewell]

It seems there are many levels of each - Market, Niche, Microniche. "Dry Hair", IMO, is a niche or maybe even a microniche but it's not a particularly good one for several reasons and should be narrowed down before trying to "sell" it. I'm sure the later lessons will help us know "How micro is micro enough" with search numbers and all kinds of things to make my head hurt (j/k) but for now the narrowing of scope seems to be the key. I can't wait until tomorrow to see where we go from here!

Great post Lisa about waiting and not trying to read into it from last year. Thanks.

[bobster234]

Thanks Lisa - for slowing things down.

The danger to veteran is that you miss the point. You feel you already know this stuff. Are you missing something subtle? Did you miss the point last time you saw part of the lesson? Maybe Ed and the team have learnt how to get over a point better.

The danger of this to new folks is they get overwhelm with extra stuff and get confused and start to worry and quit.

Savour each day you only get once chance to see the videos fresh. Second time it is harder to get over the "I've already watched this" desire to fast forward a little.

[Caro :-)]

Hi everyone,

I am sweeping into the forum here, and I confess I will be ruthless - eek! (I am scaring myself )

Please please please, respect that this is Ed's Challenge, that he and the team have created specifically a certain way. This year we are doing things differently.

Our target is Newbies, with Veterans very very welcome to be here, as those veterans who are, know there is always something new to learn. I also believe people have the best intentions - and the Veterans want to help.

However in jumping ahead, you are negating the way Ed wants to do this.

We are working this year at a slower, methodical pace. Veterans - you may well know what is to come - please keep it to yourself. Please show respect.

If I, or my team see posts where people are jumping ahead they will be moderated - as it's potentially confusing for Newbies, as it brings up the feeling that they should know what you are talking about - so it brings up fear, doubt, insecurity and other emotions that aren't much fun when you are new.

Again I know you want to help. So to help us, please stick to the lessons and the content - and help newbies that way.

Best

Caro :-)

PS: I am going big font too - so you read this