What a niche market is about
I would like to share my own experience, how I understood what a niche market is about, my mistakes, and what should be done to succeed in niche marketing.
A niche market is a subset of the market on which a specific product is a focus. I understood it as a good general idea in business. But I didn't want to create a website where I will exhaust all the content. Because I wanted to establish a business in the long run.
And because I had that general idea that in business the more you offer, the more you have the chance to sell and make a profit. I picked a broad niche but the competition was too tough, at a certain point I was lost because I had so many topics to talk about
Because my niche was very broad I had to sign up with so many affiliate programs. As a result, I was not concentrating in anything and I ended up losing the affiliate program because I did not make any money.
Picking a niche can make you feel like you're leaving money on the table by not adding more. But actually you are gaining more by sticking to a given niche. You will be able to establish your brand and authority.
So, let say you want to create a business in fashion. A niche market in fashion could be, women fashion, men fashion, kids fashion, accessories, handbags, shoes, sports shoes,... When you go for a niche market like "sport shoes for women" or "women bikinis". It is more specific and can constitute a good niche market.
Now why should you go for a niche market, I have already listed some advantages but let go deeper.
1. Reduce competition.
When you are starting your business, you want to maximize your chances to succeed. Having less to no competition can help achieve great success in no time. I know that in any business it is hard to find no competition at all but it is possible to get less competition that you can overtake fast.
2. Establish your brand.
Your first goal in business is to be visible, the more people know about your brand the better for your business. And picking the right niche can help you achieve that.
Again once your business is known, people will be curious to find out what your company is about and interested in buying what you have to offer. And because you have niched your business, you are sure to present your products to the right audience. It is better to present your products to the few people who are interested in it and can potentially buy than to the whole world with less chance to sell.
3. Gain expertise.
You can become an expert in your niche if you play your card well. And when you do niche business it is very easy for you to know all the in and out of that business and become an expert in no time.
Your client will lift you to an expert level because the service you provide is unique. Because for a lot of people they will rather go to the expert that a general business. And they will refer you to their friends and family with confidence.
4. The word of mouth.
Much research shows that the word of mouth is still the number one way of recommendation for all kinds of businesses, may it be online or offline businesses.
People interested in your niche segment will talk about your business and recommend it to others in need. So, you need to do a good job and make sure to satisfy your clients.
5. Save money.
By choosing one niche market you reduce your expenses in market search. You will only concentrate on one product, in one market segment which will save you time and money. You will be able to keep an eye on the market and be able to predict what will come. Your business will thrive in no time.
These are advantages that you need to have in your business, especially when you are just a start up.
So, after I got the best understanding of the niche market, I picked one for my affiliate blog. And the general idea was to create one website that I could use to promote one product. And I created a review website, I would review products in the same niche, give the pros and the cons, give my own experience if I have any, and propose what was more suitable. It is simple and very effective. It gave me a simple layout for all my posts and I was able to be more productive too.
And here is where I learned what a niche market is about. The platform has comprehensive training in affiliate marketing and the training core subject is to pick a niche market that you will develop in your bogs. The platform has a great community that will support you and help you whenever needed, the technical support is also available because you get to host your website directly there. The hosting is great and the price is very competitive, you can host up to 10 websites. I am sure having 10 niche blogs will create a great source of income for you. I am sure that joining us will make your business and your knowledge of niche marketing reach another level.
You will be able to create your blog and monetize it with affiliate marketing. That is where your niche market will be used efficiently, you will pick one and search for affiliate product related to that niche market. You will be able to develop that niche market to the fullest. And establish your blog as the reference in that market, create a closer relationship with your customers via email marketing or other means of communication.
Here is training that will help you understand more what a niche market is about and lead you to choose the perfect niche market for your business.
Here is what I wanted to share with you and I hope you found it helpful and useful for your business.
Thanks for reading!