How To Pick An Unsaturated Niche in 2024 (with no competition)

So you stumbled across the world of lead generation and now you're feeling lost, you're feeling a little bit uncertain as to what is the best niche to sell to. Because having the right niche is literally the difference between selling your services and making thousands of dollars and going months while struggling, sending a bunch of cold emails and just simply not seeing any results and not making any money. So in today's video, I break down how, how to choose unsaturated niches in 2024. So how do we actually pick a good niche? So I call it picking a blue ocean niche. And this is important because one of the largest problems that people have, especially when they're first starting their business, if they're first starting the lead generation agency, is figuring out and picking a good niche. Because what happens, and it completely makes sense, is if everyone is selling to the exact same industry, if everyone is selling the exact same service, then to the exact same niche, it becomes really competitive. And obviously because it's so competitive, it's harder to actually just stand out, make money and be profitable when everyone's selling the same thing. Your service are kind of commoditized, right? So how exactly do we pick a blue ocean niche? How do we pick an unsaturated niche that gives you the best chance to actually succeed with your own lead generation agency? So before we jump into it, I want to first start by, by actually defining a niche, just making sure that we're all on the same page in terms of what this actually means. So the definition of a niche is a specific group of people or a specific group of businesses. So in the context of what we're doing, a niche can also be known as an industry. And essentially what that means is they are a group of companies who are selling a similar service to a similar group of people. So as an example, these are example of niches. Marketing agencies, all marketing agencies sell some form of marketing service. So they're selling a similar service to a group of people, to different businesses. Right? Or recruitment agencies. All recruitment agencies are offering recruitment services to different companies. That's the definition of a niche. Marketing agencies and recruitment agents are niches. But what a niche is not, is a niche is not a B2B businesses. So if people say, I'm selling my cold email lead generation services to B2B businesses, that is not a niche. Because under B2B businesses is everything else, such as marketing agencies, recruitment agencies, software companies, the list goes on. But a B2B business is a type of business. It's business to business. The other type is B2C business to consumer, but that is not a niche. So you want to be able to speak to a specific group of people and allows you to to be way more specific in terms of pain points and the problems that a group of people might have. That's the reason why you want to niche down. Because if you go too broad, you're not going to be able to be relevant. The messaging you use for your cold emails, for your cold DMs, even on your sales calls, your VSL, it needs to be relevant. And if you go too broad, you won't be able to use very specific pain points because every niche has slightly different pain points and different things that they care about. And that's exactly why they you want to niche down. So as an example, and hopefully this will help you understand why niching down is so important. So we have two examples. The first one is someone who says we help people find a full time job. And the second person says we help recent engineering college graduates find and land a new full time engineering position. If you were a recent engineering graduate looking for an engineering job, an entry level engineering job, which do you think would be more relevant and just resonate way more with you? Now the answer is the second one. And the reason why is because the guy who's selling the second offer, they niched down specifically to new engineering graduates. The first guy, the first one, we help people find new full time jobs. That is broad. It's not very specific in terms of the specific type of jobs, it's not very specific in terms of who they actually help. But, but a second example is way more specific and as a result it's just way more relevant. And that's exactly why you want to niche down. If you're selling your services, you're selling your cold email services, you want to be as relevant as possible. That way you're able to be relevant in terms of the pain points and the specific solution that you are solving for. So as you're picking your niche, you also want to operate with the following assumptions. The first one is you're using cold emails to get in contact with them. And that makes sense, especially if they're selling cold email lead generation as a service. The second is the prospects do not know you, they do not like you and they do not trust you. And that's because you're cold emailing people. You're cold emailing random people. They just don't know who you are. And the third assumption is that you are a beginner without much Proof, without many case studies, without many testimonials, and you don't really have too much evidence that what you're selling actually works. So as you are picking a niche, just you want to keep these assumptions in mind and work with businesses who are more open and way more receptive to this situation. And these three assumptions, you also, as you are picking your niche, you also need to make sure that there are three things. The first one is the niche that you choose could be easily contacted over email. The second one is that they're B2B so business to business, that they're not B2C so they're not realtors selling to consumers, selling houses to consumers, they're not gyms selling to consumers like gym passes and stuff like that. They're not make sure they're businesses that sell to other businesses. And the third is make sure they have money because if they cannot be contacted over email. So the first point, you are essentially wasting your time, obviously, especially if you're selling cold emails as a service or you're using cold emails to reach out to people. If you can't contact them over email, you're literally just wasting your time. The second point is if they are not selling to other businesses, cold emails will not work that well. That's not to say it won't work, because it can. I've had clients that were B2C. It's just, it's significantly easier to sell B2B, especially over cold emails and especially if you're selling cold emails as a service. So B2B again, right, you can search this up on Google. They're selling their services to other businesses. They're not selling their product, they're not selling their service to consumers or everyday people. And the third point is if they do not have money, if the people you're selling to just don't have money, or they're charging too little amounts of money or whatever the case is, they won't be able to afford your services and they won't be able to pay you. Because obviously as a lead generation agency, you want to be charging thousands of dollars for your service. And if the business that you're selling to only makes 500 bucks a month, obviously you wouldn't be able to charge 2,000, $3,000 because the math just doesn't math. So we want to operate under each of these three rules as you are picking your niche. But before we jump into picking the actual niche, I want to also cover the myth of saturation. And I actually found this picture that says there's no such thing as a saturated niche. Let me explain what I mean. So most people, when they think of picking a niche, if they see a lot of people selling to the same niche, if they go out and search for lead generation agencies and they see every single lead generation agency is selling to the exact same niche, it means that it is saturated. And what they need to do is they need to go and find a completely new niche that no one has ever thought of, that no one has ever sold to. But you need to understand that if there is no one selling to a niche, so if you go out and you see everyone selling to marketing agencies and you come up with some random niche that no one has ever sold to and there is zero competition, it's probably because that niche just sucks. It's probably because that niche just doesn't work. They don't buy anything, they don't have money, it's hard to reach out to or a million other reasons. So what I'm trying to say is if you don't see anyone, if you can't find anyone selling your service to a specific niche or specific group of people, the probable reason why is because it probably just doesn't work that well. If there's no one selling to a niche, it's because it's a bad niche, right? So you want to keep in mind, do not reinvent the wheel. There's absolutely no need to to reinvent the wheel. Especially if you're just starting out, especially if you're a beginner. Don't reinvent the wheel. Keep it simple. Simplicity, scales, complexity fails, right? So if you see a niche that is competitive or you see a niche that is saturated, it's because it works and there's money selling to that niche, right? The reason why you might see everyone selling to marketing agencies or selling to software companies is because it works. People are making money. And if people aren't making money, there wouldn't be as many people as there are selling to marketing agencies or selling to software companies. It's that simple, right? So there's no such thing as saturation. What you do have to keep in mind is if there's a lot of competitors, you need to be unique, you need to be different, and you simply have to be better. And there's nothing wrong with that. If you are in business, you should strive to be better than your competitors. You should strive, actively, strive. Wake up every single day thinking about how to make your service better, provide more value to your clients, and just beat everyone else in the market. That's your job as a business owner anyways. So there's no such thing as saturation. Understand that. So why did most people fail when it comes to picking a niche? This is a very important point. So the largest reason why people fail when they pick a niche is not because they picked a saturated niche. That's not the reason. We literally just talked about it. That's not the reason. The reason why most people fail is because people are lazy. And people mindlessly copy niches without putting in the work to actually understand the niche that they choose and who they are selling to. That's the reason why people fail, is because people are lazy. So if you're watching this video, don't be lazy. If you want to make money, especially if you want to make thousands of dollars online with an online business, you cannot be lazy, right? If you're lazy, you're just not going to make any money. It's that simple. So as an example, what most people do is they're starting their lead generation agency, they're starting their business, they're not sure what niche that they're picking. If you're watching this video, that might be you. What most people do is they go online, they find another lead generation agency. Let's call the guy John. Right? John runs another lead generation agency. He looks successful. You go on his website, he, he looks like he has case studies, he has proof that what he's selling works and that it looks like he just makes money. So you look at John and you see that he's signing a bunch of clients in the recruitment niche. And what most people do is because they see these initial signs of success, they just simply blindly copy it and they decide, oh, well, I'm just going to go into recruitment as well. Because John is doing it, it looks like he's making money, he looks successful, it looks like it works. I'm just going to go and sell to recruitment agencies as well. And there's no other reason why they're choosing recruitment other than the fact that they just saw John doing it and it looks successful. But you have to understand that the reason why John was able to succeed and sign a bunch of clients, recruitment agencies, and make a ton of money is because behind the scenes, what you do not see is he thoroughly researched the recruitment agencies. He thoroughly conducted research. So John, he understands a couple things. He, he understands clearly how the recruitment agency business model works. He understands how recruitment agencies get paid. He understands how much they get paid as a dollar figure. He understands how they typically attract new clients so kind of their typical sales process. He understands what recruitment agents have typically tried before. Have they tried cold email services before? Have they not? He understands that and he understands common sales related problems. And because John actually put in the work and he researched these things before he went into recruitment agencies, he understands all of these things clearly. And he's able to be hyper relevant when he reaches out to prospects over cold emails, when he sells and sends them their bsl, when he sells them and jumps onto the zoom calls, he's able to be hyper relevant and talk specifically to the pain points and challenges of recruitment agency owners. So as an example, another example to help you hit the hit this point on the head. If you were looking to hire a tutor for math, right, you were in school and you needed some help with math, understanding algebra or calculus or whatever the case is, and you're looking for a tutor, all else equal, which tutor would you pick? The first tutor who only specializes in teaching math, who understands basic to advanced mathematic topics and concepts and and who has had previous students who have won multiple Math Olympics awards. That's the first tutor. Or when you pick the second tutor who just teaches 15 different subjects ranging from math to science to English to history to Spanish to geography to history to a bunch of different things. Well, the answer is you would obviously pick the first tutor because they're hyper specific to your situation, they understand everything when it comes to math and obviously they'll be way better at teaching you math. And that's exactly that. Exact same example as to why John succeeds is because he specializes in working with recruitment agencies. He understands theorily, head to toe, front to back, all the issues that recruitment agencies have. So before you pick a niche, you want to clearly understand the niche that you're picking and do your research. If you get lazy and you don't do your research and you just blindly copy a niche, just because you see someone else online saying succeeding with a specific niche, what will happen is you will spend a bunch of time, you will send a bunch of cold emails and get zero results. So keep this in mind. If you are sending cold emails and you're not getting results, it's probably because you didn't pick a good niche or the niche that you picked, you just blindly copied it. And you don't know anything about your niche, so don't do that. So we jumping into the juicy part. Here is a list of B2B niches that you could sell cold email services to. And I know this because I personally, at my own lead generation Agency. I have worked with a couple of these B2B niches. I know people who are selling to these niches who are making money. So again, do not blindly copy this. You want to do your research, I'm going to show you exactly how to do that. But here is a list to give you ideas as to what are good B2B niches. So marketing agencies, B2B software companies, SaaS companies, recruitment agencies, coaches and consultants, accounting firms, financial services, manufacturing and construction companies, logistics companies, law firms, private equity or VC firms. So kind of the companies that help other businesses make money, raise money. Investment rounds, insurance companies, IT companies, software development companies, commercial real estate. So not B2C real estate, not mortgage brokers, not realtors, commercial real estate and startups. So make sure that the niche that you choose, they sell the service for a high ticket price. So whatever niche that you pick, make sure that they're at least selling the service for at least $5,000. Every single client they bring on, they make at least $5,000, because that is the kind of the lowest number that you need in order to make sure the math works to make sure that the niche is actually able to pay you for your services and pay you thousands of dollars. So if the lifetime value, so LTV for short, if the lifetime value of their customers are below this point, below $5,000, they simply won't make enough money to pay you to help them generate leads. And theoretically, the higher the price point, the more money you can make. So for example, the return on investment, the ROI of working with you as a lead generation agency is simply larger. If you're working with a client and every single client they bring on pays them $100,000 versus paying $1,000, it makes sense, right? If you're working with me and you're helping me generate leads, and every single client I bring on, I make $100,000, I could comfortably pay you $5,000, $8,000, $9,000, even $10,000. Because I know by paying you $10,000 a month or $10,000 for your service, I'm making $100,000. That's a 10x return. But if I'm only making a thousand dollars, I'm. What am I going to pay you? A hundred bucks a month, Something like that? Right? It doesn't make sense. The math just doesn't make sense math. So keep that in mind. So in terms of your next steps, make sure that you are actually going to take action and do what we talked about in this video. I literally just gave you a list of B2B niches that work. Here are the four things that you want to do in order to actually take action. So the first thing you want to do is using the list above that I just shared with you. Pick three niches that just stands out to you. And don't overthink this. Just read through that list and just take a mental note. Beside three of them, that just stands out to you. So if you're looking through the list and marketing agencies stand out to you, that's one of them. If recruitment is another one, that's the second one. If SaaS Companies is the third one, pick that one. Just pick three. The second thing you want to do is set aside 30 minutes for each of those three niches to conduct your research. Again, I cannot stress the importance of conducting your research. Do not be lazy. Do not be lazy. Right? You need to do this if you want to make money. And this isn't even going to be something that takes a ton of your time. Just set aside 30 minutes for each niche. That's an hour and a half. If you can't commit even an hour and a half to picking a good niche for your business, then this is probably just not for you. Right? It's that simple. Now the third thing is do the research. And I put together kind of like a guideline of questions that you want to answer. And if you're able to answer these questions theory, then you know you conducted your research well. So the first question is how does their business model works? If you're picking marketing agencies, how does that business model works? And write this down if you have to. Right? Again, the more thorough you are, the better. Right? This isn't school, this isn't homework. This is for your own good. If you don't do these things, then your chance of succeeding in this business is significantly lower. In fact, the chance of you succeeding is next to none. So you're doing this for yourself. The second question you want to answer is how do they get paid? How do marketing agencies get paid? The third question is how much do they get paid as a range? Now, obviously, the type of business specifically they're going to get paid at a different price point. But you want to understand the range. Is it between 10,000 to 20,000? Is it over $50,000? Is it over $100,000? How much do they get paid for every single client? The next question is what is their typical sales process? Do they usually have appointment setters? Do they typically run ads? Do they do cold calling? Is it only referrals and word of mouth. What does that look like? Did they use a lot of LinkedIn, understand what their typical sales process is and how do they currently typically book sales meetings? The next thing you want to understand is do they get reached out to a lot? Meaning is there a lot of competitors? Is there a lot of people selling a similar service to to that specific group of people? You need to understand this because it will dictate the type of messaging that you will use and how direct or indirect you are with your offer. Are they being pitched constantly? Is a noisy niche or not that noisy? And the next thing is understand common jargon and common sayings. Because not every single industry uses the term lead generation. So as an example, recruitment agencies, they use the term business development, they don't use the term lead generation, right? For software companies, they don't use the term sales cost, they use the term demo cost, they use the term MRR monthly recurring revenue, they don't look at it from a one time revenue point of view. You need to understand these things, jargons and common sense. Make sure you're conducting your research and pick one niche and stick to it. Those are the four things that you need to do. Make sure you're doing these things. Again, this is not homework, this is not school. No one's going to sit there and force you to actually do these things. So you want to do these things if you want to succeed and make money with your business.