I like to research how big trends could transform the way we run our businesses.
This week's research was focused on how to leverage niche communities online for engagement, sales and growth.
I hope you find this report useful.
Let me know what you think in the comments.
Advertise in a niche community. Your net is smaller. Your catch will include more qualified leads. The audience is already focused and passionate about the topic. Examples:
Create and sell products that fill the unmet needs of a niche community. Greg Isenberg's formula based on Reddit:
Find a suitable Subreddit. > 50k subscribers and 40% growth rate.
Join the Subreddit. Spend 1-2 hours daily and engage genuinely with others.
Identify problems. See what users really want.
Create an even closer space on Discord or Slack and invite people in.
Build a product/service to solve the problem defined in point 3.
Design & creative
Founders / Entrepreneurs
Major social networks are crowded by big brands. Who wants to fight Netflix, NFL or Gymshark on TikTok? Use niche communities to your advantage. There's less competition and cost. Scale is limited, but engagement isn't.
Internet is messy and flooded with spam. Niche communities are:
Focusing on a niche community can be a risky bet. How do you know for sure it's going to exist tomorrow? Many communities are low-budget and run by volunteers.
Marketing for an ultra-niche community might also mean that you're placing a cap for growth. Be aware of the total market potential.
Exploding Topics started in 04/2019 and relied almost completely on niche communities for growth until around 6000 subscribers. Their strategy:
Up to 80 subscribers: Posting on Subreddits.
Up to 200: Posting on Indie Hackers, Facebook Groups.
Up to 2000: Making front page of Hacker News.
Up to 6000: Making #1 product of the month on Product Hunt.
ET has now over 51,000 subscribers and is able to charge up to $197/month for their Pro Complete -subscription.
Find A Forum - Search for discussion boards. Great for finding ultra-niche forums with good traffic.
Be everywhere vs. focus on 1 network - If you're tiny, you need to focus. 1000 followers on 1 platform is better than 200 followers on 5 platforms. Succeed once and it's easier to copy. While you're at it, read how Harry Dry concentrates his sharing and gets a compounding effect.
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🤝 Thanks for reading. See you next week!