5 Profitable Influencer Marketing Niches with Minimum Competition

In a world where we are bombarded with marketing at every turn, it’s a wonder how small businesses get their names out there and are heard above all the noise.

The social media explosion has solved this problem for many, as Influencer Marketing rapidly makes its mark on the new world of advertising.

What is influencer marketing?

“If you make customers unhappy in the physical world, they might each tell six friends. If you make customers unhappy on the Internet, they can each tell 6,000 friends.” – Jeff Bezos: Founder of Amazon

Influencer marketing uses people with a large following on social media, who wield influence on their followers when it comes to them making consumer decisions. A new dawn has come for word-of-mouth marketing – a tool that has proven to influence up to 50% of sales.

According to Twitter research, as many as 49% of consumers base their purchasing decisions on influencer guidance. A further 20% influences the market by sharing the recommendations on their social media pages.

Ogilvy Cannes found that 74% of consumers rely on influencer guidance. A study by Fleishman-Hillard PR & Hearst Magazine discovered that as many as 73% of millennials feel they have an obligation to their family and friends to guide them towards making wise consumer choices.

Over $1 billion a year is spent on influencer marketing. It is cost-effective, as you can tailor your spending as you grow; it rapidly builds brand loyalty and you can target your market specifically.

Choosing a business niche that can make the most of influencer marketing takes intense market research in a saturated market. However, untapped niche markets are highly profitable and have meagre competition.

Maternity Clothing

Babies are born every day, and so it will probably remain for the rest of time. Celebrities, bloggers, fitness gurus and big business personalities post their baby bumps and fashion choices daily. As maternity wear becomes trendier, the market is expected to boom. The estimated growth is as much as USD 2.91 billion.

Eco-Friendly Products

People are becoming more eco-conscious every day. But they are looking for ways to be eco-conscious conveniently, to fit in with busy schedules. The reality is that big brands are not in a hurry to meet the need. So, there is a gap in the market that savvy small businesses can grab hold of. It is also something that influencers are eager to push, as it is a positive image to portray. Google Trends has shown a growth of 150% in eco-friendly products over the last 12 months.

Home Fitness Equipment

The pandemic saw massive growth in the home fitness equipment market. With more people working from home and less likely to pass the gym on the way from work, it is a trend that is here to stay. Fitness influencers have massive followings and online fitness classes have allowed those in the industry to keep their businesses going, despite fewer people venturing out.

Vegan Recipes

Veganism is a growing trend for several reasons, including health, environmental sustainability and empathy towards animals. In the last decade, the number of vegans in Europe has grown by 360%. With vegan products becoming more readily available, the trend will continue to grow. You will find very few celebrities and influencers who don’t have at least some vegan products on their feed, so it’s a great niche to grab onto as it continues to boom.

Pet Products

One niche that didn’t suffer during the pandemic is pet products. With many of us spending more time in our pet’s company, we groom, entertain and treat them. It is therapeutic and many people acquired new pets, to combat their loneliness. The pet product market has recently grown between 30 and 50% and shows no sign of slowing down.

Choose your niche

Choosing the right niche takes careful research. To corner the market, look for a profitable niche, but dig deeper, looking for the specifics that more prominent brands and businesses often overlook. Using social media, a small but targeted audience will grow your brand for you.

“Social media will help you build up loyalty of your current customers to the point that they will willingly, and for free, tell others about you.” – Bonnie Sainsbury.