The eCommerce industry is booming. Due to the Coronavirus pandemic, many brick-and-mortar businesses shifted towards the eCommerce stores, adding fuel to the competitive market fire. According to Statista, in 2021, over 2.14 billion people across the globe are expected to buy products and services online, and the total eCommerce revenue is expected to reach up to $5.4 trillion by 2022.
That being said, it can be a bit confusing for new entrepreneurs to launch their eCommerce store nowadays. There are numerous products available in the market, making it hard to find the perfect niche for your online store.
That’s what we are here for. We will help you figure out the perfect niche audience and products for your online store.
Let’s dive in.
Types of Audience
Before finding out your niche audience, it is important to know about the market type we have nowadays.
- Conscious consumer
- Pet owners
- LGBQT+ community
- Remote worker
Now we know how many types of the audience are in the marketplace, let’s figure out how you can find the niche audience and products for your business.
Google searches are the best way you can find out the latest trending products. It will directly lead you to the potential audience. With enough exploration, you can find out what the audience lack and demands from the market.
Once you determine your ideal niche, a market survey will help you figure out any problems regarding it. You can visit the social media platforms such as Quora, Facebook, Twitter, and Redditt to get in touch with the audience and ask about the problems they are facing. By offering help and solutions to their problems, you can easily set up your target audience.
Keep an eye on your Competitors
Spy thy neighbors. Keeping track of what your competitors are doing will help you determine your audience and products. Visit their online store, read customer reviews, and check their social media accounts to see what their customers are saying about their brands and what they lack from their products. By doing this, you may uncover some hidden opportunity that can take your business up to the next level.
Well, earning profit is the sole aim of any business. That’s why it is important to evaluate the profitability of your targeted niche market. You can determine the profitability with Google AdWords Keyword Planner. If your keyword has a good value on SERP, it is a good sign of profitability. In simple words, you have to shortlist your niche according to the market needs so that you’ll get a wider audience who’ll buy your products.
Once you have finalized your product and audience, you need to do a test run to find out their practicality and success rate. Even if you have a great idea, it is of no use if it’s not practical. Prelaunch your products for your friends and team and ask them if they are interested in buying them.
Also, landing page and paid advertisement is a great way to promote and test your products. It will help you understand if your targeted audience is really interested in your product or not.
The ECommerce industry has a very competitive market. But once you figure out your niche, you can easily turn your dream project into reality. These few steps will help you find out your suitable niche. However, if you feel overwhelmed by these steps, you can always contact the right eCommerce developers who can help you out with your new business.