What Is Niche Marketing
Have you any idea what Niche marketing Is? As a member of Wealthy Affiliate you will certainly have heard it mentioned in the training.
So what's Niche Marketing all about?
You have probably the old marketing adage : "Find a need and fill it" -that's what "Niche Marketing" is all about. Finding a focused group of people, with a specialized interest, eager to buy (The Niche) and promoting a suitable product or service to all those interested in buying it (Marketing).
Let me give you a few examples of these Niches :
Golf, Fishing, Weight Loss, Travel, Dating, Alternative Health, Candles, Gaming etc etc
The list just goes on and on and these are just the main headings, there are niches within each of these niches. Think of a subject and there will be a niche market for it.
But the name of the game is to find a "tightly focused" niche. The reason for this that if you target a general market the competition is way too fierce. You will also find it near impossible for the little guy to get a foothold.
And let's face it if you're a little guy you simply can't be everything to everybody, so you must pick a specific focus for your business.
Once you narrow down the size of the market you have an automatic advantage over larger companies. Here's why :
1. You can quickly become an expert in your niche
2. It's easier to keep current with a narrowly focused market niche
3. You can respond faster to changes in the market
5. You can build close relationships with key customers that will be hard to compete with
This is something I learned from experience..
By now you're probably wondering about the mechanics of this niche marketing stuff. In a nutshell here's how it works :
- Find and research profitable niche markets
- Locate or develop suitable products/services to market
- Set up a website to market the products/services
- Establish a marketing system that works for you
Repeat the process over and over again with a different niche each time.
Imagine having a niche site producing one sale a day at say $20. That's $7300 a year - how many sites could you set up and run?
But a word of caution.
Niche marketing is not a magic bullet. It isn't a matter of putting up a website and then sitting back and waiting for the money to roll in - "build it and they will come" may have worked for Kevin Costner in Field of Dreams, but it doesn't work that way on the Internet - if you do that you'll be waiting a long time.
If you want a successful niche business, you have to work at it just like any other business.
Ok folks, I hope I have given you food for though and you will now go on and market whatever Niche you believe will work for you.
Have a great day, and be successful.