Niche Marketing Tips
May 9, 2010 by wpautoblog
Filed under Niche Marketing
Shonika Proctor asked:
Niche Marketing, it is one of those things that is so simple that it is complex. The understanding of the niche market and the customer that fits the profile for that market is one of the main reasons why small businesses excel, yet the lack of understanding of it one of the top reasons why small businesses often fail. Many people do not understand 1. what it is or what it means and 2. the power of it when paired properly with your target customer and leveraged with the business brand.
So what is a Niche?
It is a specialized product or service for a special profile customer. i.e. a Doggie Day Care. It is a day care only for dogs and not for pets in general and the only people who could benefit from such a service are people who own dogs.
People may think to themselves, why would someone want to ‘limit themselves’ or narrowly define their market? But think of it this way.
How ‘Big’ is Your Small Number?
If you are in the clothing industry (t-shirt business) for instance think of the two ways you are likely to make money. First you could mass produce t-shirts overseas and sell them for a high mark up. Think of selling t-shirts on street corner stands in popular tourist cities and the Wal Marts across the nation. They sell for less but you can sell them in mass quantity. Or on the flip side you can sell limited edition products. Sell less shirts that market to a specific gender, race and income profile person. This is a niche.
Think of this, by our very nature, we often start small businesses with a niche in mind. Say you have worked in a certain type of corporate industry for many years and you get that entrepreneurial bug. You say to yourself, ‘The people who run this company are clueless. They are missing a big opportunity by not offering our clients XYZ service or product’. So you go off and incorporate your business and you start your business with that niche offering in mind. But then between getting sidetracked by trying to learn the business of running a business which you were totally not expecting and getting your marketing collateral and website in place, you realize that now 3 months have already passed and you haven’t even been soliciting new clients. Now you are worried that your 3-6 month savings is going to run out, so you go into panic mode and start getting goofy and desperate. You tell everyone you meet you can do the same services that your other company provided but for a cheaper price.
Yes, perhaps you can do all that stuff, but the question is: Why would you want to overwhelm yourself like that? And better yet, why would you devalue yourself at the beginning. When you offer a niche service, it means you are an expert in a specialized field, hence you are worth more. Even though capitalism is the way of the U.S. the people who are most successful in their respective niche markets did what they had a passion for doing and learned how to solve a problem. Although many businesses understand what their niche is from the beginning but the disconnect is they don’t usually understand how to position or market their niche or how to find their ‘target customer’. So instead they start expanding their business model and begin offering too many services and products that ultimately their target customers get confused and begin to compare them to the likes of their former employer or companies that have a stronger presence and credibility and store front. In order to avoid getting lost in the sauce, you have to focus on a smaller market not a larger one. You can either be the big fish in the pond or the little fish in the sea.
How Do I Figure Out My Niche?
1. Do something you love and the money will follow. Do not think of popularity of a trend or something that ‘can make a lot of money’. Do what it is you really like to do, whether it is offer one specific product or service. In the end if you truly love doing that thing, on the days you are not feeling so upbeat about business, your love for that thing you do will help to keep you inspired and motivate you to find a way to make it work out. (this is your niche)
2. Solve a Problem. Think of the problem you solve for the marketplace by offering their product or service. People don’t like to be sold, but they love to buy based on something that brings value to their livelihood or solves a problem. (this is your value add)
3. Identify who could benefit from this product or service: Detail everything about the profile of your target customer including gender, age, race, socio-economic background, the color of their shoes, whatever common things you can think of regarding your customer. (While some of these factors may vary from business to business, this more or less becomes your target or profile customer).
Note: 1, 2 and 3 essentially make you your elevator speech.
4. Wherever They Go, There You Are. Think of the places those specific customers congregate, socialize, interact. Think of the publications they read, their online and offline shopping trends and habits and start spending more time in those places. You should know as you have spent a great deal of time with this type of person. They should all be found in common places. If you are struggling be more specific about #3. (This becomes your short and long term marketing strategy).
5. Empower people. If you want to become a powerful person, you must empower others. People often think when they ‘give away’ important and valuable information or resources that people will use it ‘against them’ and they will become powerless. On the contrary, both your customers and your competitors will see you as a resource and ultimately they will build trust in you.
niche+marketing
Niche Marketing, it is one of those things that is so simple that it is complex. The understanding of the niche market and the customer that fits the profile for that market is one of the main reasons why small businesses excel, yet the lack of understanding of it one of the top reasons why small businesses often fail. Many people do not understand 1. what it is or what it means and 2. the power of it when paired properly with your target customer and leveraged with the business brand.
So what is a Niche?
It is a specialized product or service for a special profile customer. i.e. a Doggie Day Care. It is a day care only for dogs and not for pets in general and the only people who could benefit from such a service are people who own dogs.
People may think to themselves, why would someone want to ‘limit themselves’ or narrowly define their market? But think of it this way.
How ‘Big’ is Your Small Number?
If you are in the clothing industry (t-shirt business) for instance think of the two ways you are likely to make money. First you could mass produce t-shirts overseas and sell them for a high mark up. Think of selling t-shirts on street corner stands in popular tourist cities and the Wal Marts across the nation. They sell for less but you can sell them in mass quantity. Or on the flip side you can sell limited edition products. Sell less shirts that market to a specific gender, race and income profile person. This is a niche.
Think of this, by our very nature, we often start small businesses with a niche in mind. Say you have worked in a certain type of corporate industry for many years and you get that entrepreneurial bug. You say to yourself, ‘The people who run this company are clueless. They are missing a big opportunity by not offering our clients XYZ service or product’. So you go off and incorporate your business and you start your business with that niche offering in mind. But then between getting sidetracked by trying to learn the business of running a business which you were totally not expecting and getting your marketing collateral and website in place, you realize that now 3 months have already passed and you haven’t even been soliciting new clients. Now you are worried that your 3-6 month savings is going to run out, so you go into panic mode and start getting goofy and desperate. You tell everyone you meet you can do the same services that your other company provided but for a cheaper price.
Yes, perhaps you can do all that stuff, but the question is: Why would you want to overwhelm yourself like that? And better yet, why would you devalue yourself at the beginning. When you offer a niche service, it means you are an expert in a specialized field, hence you are worth more. Even though capitalism is the way of the U.S. the people who are most successful in their respective niche markets did what they had a passion for doing and learned how to solve a problem. Although many businesses understand what their niche is from the beginning but the disconnect is they don’t usually understand how to position or market their niche or how to find their ‘target customer’. So instead they start expanding their business model and begin offering too many services and products that ultimately their target customers get confused and begin to compare them to the likes of their former employer or companies that have a stronger presence and credibility and store front. In order to avoid getting lost in the sauce, you have to focus on a smaller market not a larger one. You can either be the big fish in the pond or the little fish in the sea.
How Do I Figure Out My Niche?
1. Do something you love and the money will follow. Do not think of popularity of a trend or something that ‘can make a lot of money’. Do what it is you really like to do, whether it is offer one specific product or service. In the end if you truly love doing that thing, on the days you are not feeling so upbeat about business, your love for that thing you do will help to keep you inspired and motivate you to find a way to make it work out. (this is your niche)
2. Solve a Problem. Think of the problem you solve for the marketplace by offering their product or service. People don’t like to be sold, but they love to buy based on something that brings value to their livelihood or solves a problem. (this is your value add)
3. Identify who could benefit from this product or service: Detail everything about the profile of your target customer including gender, age, race, socio-economic background, the color of their shoes, whatever common things you can think of regarding your customer. (While some of these factors may vary from business to business, this more or less becomes your target or profile customer).
Note: 1, 2 and 3 essentially make you your elevator speech.
4. Wherever They Go, There You Are. Think of the places those specific customers congregate, socialize, interact. Think of the publications they read, their online and offline shopping trends and habits and start spending more time in those places. You should know as you have spent a great deal of time with this type of person. They should all be found in common places. If you are struggling be more specific about #3. (This becomes your short and long term marketing strategy).
5. Empower people. If you want to become a powerful person, you must empower others. People often think when they ‘give away’ important and valuable information or resources that people will use it ‘against them’ and they will become powerless. On the contrary, both your customers and your competitors will see you as a resource and ultimately they will build trust in you.
niche+marketing
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Niche Marketing Techniques
April 17, 2010 by wpautoblog
Filed under Niche Marketing
Brian McClelland asked:
To be successful in niche marketing and from that to be able to make money on-line you must learn about search engines and how pages are ranked. I do not expect anyone to become a search engine guru, unless that is what you want to become, however you must understand how to find long term keywords that have the greatest number of searches but with the least number of competing pages. Long term keywords are the best way to get good rankings on the search engines.
I am assuming that you are not completely new to Internet Marketing and that you understand what I mean when I talk about niche marketing. Niche marketing is one of the most profitable marketing areas on the internet, however to be successful in niche marketing you will need to do your research and find the best keywords to get your pages ranked highly by the search engines which will enable you to sell products.
People will tell you that to get into niche marketing, you build a blog or a website, visitors come to your website, buy your products and you pick up the income. That is true once you have put in the preparatory work including using you brain to root out the best keywords for your product. To do this you firstly need to think like your customer. If you were a potential customer within your niche what would you be searching for and what search phrases would you use. This is exactly what your potential customers will do.
You need to come up with as many key words or search phrases that your customer may use. The most high ranking keywords are called long-tailed keywords, these are keywords containing at least three or more words, hence the name long-tailed keywords. Long tailed keywords tend to bring in the most targeted traffic, since they are very specific to the niche you are marketing in. To be successful you should think up a list of 10 long tailed keywords for your campaign.
Once you have identified your 10 long tailed keywords you then need to test them to ensure they are profitable and to find out how many competing pages you will encounter with these keywords. You need to take each long tailed keyword, enclose them in quotation marks and then type them into a search engine. If there are paid adverts on the search page and the results that come back are less than 10,000 then you have selected good keywords that will generate a profitable campaign for you.
If the results returned are more than 10,000 then you are going into a very competitive area and you are better going back to your keyword selection to find these long tailed keywords with less competition. Again, if there aren’t any paid ads on the search page then the chances are that these are not profitable keywords and you should discard them and research different keywords.
Do your keyword research up front and you will increase the chances of selling into a niche and making the money that brought you into niche marketing to start with.
niche+marketing
To be successful in niche marketing and from that to be able to make money on-line you must learn about search engines and how pages are ranked. I do not expect anyone to become a search engine guru, unless that is what you want to become, however you must understand how to find long term keywords that have the greatest number of searches but with the least number of competing pages. Long term keywords are the best way to get good rankings on the search engines.
I am assuming that you are not completely new to Internet Marketing and that you understand what I mean when I talk about niche marketing. Niche marketing is one of the most profitable marketing areas on the internet, however to be successful in niche marketing you will need to do your research and find the best keywords to get your pages ranked highly by the search engines which will enable you to sell products.
People will tell you that to get into niche marketing, you build a blog or a website, visitors come to your website, buy your products and you pick up the income. That is true once you have put in the preparatory work including using you brain to root out the best keywords for your product. To do this you firstly need to think like your customer. If you were a potential customer within your niche what would you be searching for and what search phrases would you use. This is exactly what your potential customers will do.
You need to come up with as many key words or search phrases that your customer may use. The most high ranking keywords are called long-tailed keywords, these are keywords containing at least three or more words, hence the name long-tailed keywords. Long tailed keywords tend to bring in the most targeted traffic, since they are very specific to the niche you are marketing in. To be successful you should think up a list of 10 long tailed keywords for your campaign.
Once you have identified your 10 long tailed keywords you then need to test them to ensure they are profitable and to find out how many competing pages you will encounter with these keywords. You need to take each long tailed keyword, enclose them in quotation marks and then type them into a search engine. If there are paid adverts on the search page and the results that come back are less than 10,000 then you have selected good keywords that will generate a profitable campaign for you.
If the results returned are more than 10,000 then you are going into a very competitive area and you are better going back to your keyword selection to find these long tailed keywords with less competition. Again, if there aren’t any paid ads on the search page then the chances are that these are not profitable keywords and you should discard them and research different keywords.
Do your keyword research up front and you will increase the chances of selling into a niche and making the money that brought you into niche marketing to start with.
niche+marketing
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Niche Marketing: Tactics to Use To Make Money With Niche Marketing
April 17, 2010 by wpautoblog
Filed under Niche Marketing
Karl Augustine asked:
Niche marketing has always been a key any success in marketing but lately it has become quite a prominent force in the online marketing world. Many books, manuals, courses, and web sites have been developed that focus on niche marketing. It is easy to find solid resources on the Internet that can teach you how to make money with niche marketing.
Niche marketing online is a distinct segment of Internet marketing and is the quickest way to get maximum exposure if you know how to leverage the search engines to draw attention to your niche web site.
There’s many things to learn to be successful and profit from niche marketing and your USP (Unique Selling Proposition) will dictate exactly how to plan your attack to successfully market to customers in your niche.
If you plan to use niche marketing to draw visitors to your web site, here’s a few tactics that you can use to make money:
Niche Marketing Tactic #1, “Research”
Fully utilize all of the research mechanisms that you can find in order to make sure that you truly understand your niche and all of its nuances.
This requires understanding what tools are best to use so you can understand what your target niche market does day to day, where they spend their time online, and what makes them tick from a personal and business perspective.
Niche Market Research ([http://www.nichemarketresearch.com])offers free reports and articles to help you make the most of your research time.
Niche Marketing Tactic #2, “Define your paying niche”
Clearly define who will make up your niche market and make sure that the people in that niche market are willing to pay for the solution that you provide to their problems.
A niche is a clear subset of a larger category.
An example of what a niche market is not: “People who want to learn how to shoot better scores in golf.”
In this example, there are far too many people within the main category (golf) to make this a true niche. Virtually everyone who plays golf will want to play better and shoot better scores so this wouldn’t qualify as a niche, much less a category worth pursuing.
An example of a niche market: “Women who play golf who want to learn how to drive the ball longer and straighter.”
This would be a niche because it clearly defines and segments who you’ll cater to and why they would need your service.
After clearly defining your niche market, you should make sure that they are willing to pay for your services. The easiest way to determine this in the online world (other than using common sense) is to find web sites that may be close to, or even in your niche, and see if those web sites charge a fee for their services.
In addition, you should look to see if there is a reasonable level of competition between those web sites.
If you see more than a few sites listed on a SERP (Search Engine Result Page) that cater to female golfers for a fee, chances are the people who are your target customer will pay for your services for solving their problem – women who can’t consistently hit long straight drives in golf.
Niche Marketing Strategy #3, “Choosing keywords and domain names”
Research and choose your keywords carefully so you can acquire the best domain name for your site. Niche marketing most often includes maximizing the way search engines work to make sure that your web site gets listed n the first page of the SERP’s from your chosen keywords. Your domain name contributes to getting those first page results.
Go to Digitalpoint’s keyword suggestion tool and type in keywords that you feel people would use to find the product or service that you offer within your niche. Look at the number of searches performed per day for those keywords and review the other keywords listed.
http://www.digitalpoint.com/tools/suggestion/
Type the keyword phrase that you think best suits your USP’s target customer into Google and assess whether or not you can reasonably compete with the sites that are listed on page 1 of the SERPs.
Can you get a page 1 ranking knowing that you’ll have to compete with the sites already listed?
Repeat the process until you have decided what your main keywords will be for your product or service within your niche.
Those keywords should be in your domain name and preferably, they should be your entire domain name.
Example: if you’ve concluded that ‘blue widgets’ best suits your USP and you feel that you can compete for page 1 listings on the SERPs with the sites that come up on page 1 for the keyword ‘blue widgets’, then a good domain name for your niche marketing site would be ‘bluewidgets.com’.
Niche Marketing Tactic #4, “Posting keyword rich articles or reports throughout the web”
Niche marketing doesn’t differ from any other online search engine marketing, posting relevant content is the best way (bar none) to get the right type of traffic to your niche site.
Writing keyword rich articles or reports and posting them to high traffic web sites is a great way to make sure that you get maximum exposure within your niche market. People will use your keywords to search for information about the topic that they have interest in, and they will come across your web site on the search engines results.
Niche marketing caters to a distinct and select group of people who need what you have to offer. If you define your niche properly and make sure that your ability to solve their problem is something that they will pay for, you will have established a “money maker”.
Utilize the search engines to make it easy for your niche market to find your service or product. Niche marketing is the easiest way to be successful on the Internet if you do the proper research.
niche+marketing
Niche marketing has always been a key any success in marketing but lately it has become quite a prominent force in the online marketing world. Many books, manuals, courses, and web sites have been developed that focus on niche marketing. It is easy to find solid resources on the Internet that can teach you how to make money with niche marketing.
Niche marketing online is a distinct segment of Internet marketing and is the quickest way to get maximum exposure if you know how to leverage the search engines to draw attention to your niche web site.
There’s many things to learn to be successful and profit from niche marketing and your USP (Unique Selling Proposition) will dictate exactly how to plan your attack to successfully market to customers in your niche.
If you plan to use niche marketing to draw visitors to your web site, here’s a few tactics that you can use to make money:
Niche Marketing Tactic #1, “Research”
Fully utilize all of the research mechanisms that you can find in order to make sure that you truly understand your niche and all of its nuances.
This requires understanding what tools are best to use so you can understand what your target niche market does day to day, where they spend their time online, and what makes them tick from a personal and business perspective.
Niche Market Research ([http://www.nichemarketresearch.com])offers free reports and articles to help you make the most of your research time.
Niche Marketing Tactic #2, “Define your paying niche”
Clearly define who will make up your niche market and make sure that the people in that niche market are willing to pay for the solution that you provide to their problems.
A niche is a clear subset of a larger category.
An example of what a niche market is not: “People who want to learn how to shoot better scores in golf.”
In this example, there are far too many people within the main category (golf) to make this a true niche. Virtually everyone who plays golf will want to play better and shoot better scores so this wouldn’t qualify as a niche, much less a category worth pursuing.
An example of a niche market: “Women who play golf who want to learn how to drive the ball longer and straighter.”
This would be a niche because it clearly defines and segments who you’ll cater to and why they would need your service.
After clearly defining your niche market, you should make sure that they are willing to pay for your services. The easiest way to determine this in the online world (other than using common sense) is to find web sites that may be close to, or even in your niche, and see if those web sites charge a fee for their services.
In addition, you should look to see if there is a reasonable level of competition between those web sites.
If you see more than a few sites listed on a SERP (Search Engine Result Page) that cater to female golfers for a fee, chances are the people who are your target customer will pay for your services for solving their problem – women who can’t consistently hit long straight drives in golf.
Niche Marketing Strategy #3, “Choosing keywords and domain names”
Research and choose your keywords carefully so you can acquire the best domain name for your site. Niche marketing most often includes maximizing the way search engines work to make sure that your web site gets listed n the first page of the SERP’s from your chosen keywords. Your domain name contributes to getting those first page results.
Go to Digitalpoint’s keyword suggestion tool and type in keywords that you feel people would use to find the product or service that you offer within your niche. Look at the number of searches performed per day for those keywords and review the other keywords listed.
http://www.digitalpoint.com/tools/suggestion/
Type the keyword phrase that you think best suits your USP’s target customer into Google and assess whether or not you can reasonably compete with the sites that are listed on page 1 of the SERPs.
Can you get a page 1 ranking knowing that you’ll have to compete with the sites already listed?
Repeat the process until you have decided what your main keywords will be for your product or service within your niche.
Those keywords should be in your domain name and preferably, they should be your entire domain name.
Example: if you’ve concluded that ‘blue widgets’ best suits your USP and you feel that you can compete for page 1 listings on the SERPs with the sites that come up on page 1 for the keyword ‘blue widgets’, then a good domain name for your niche marketing site would be ‘bluewidgets.com’.
Niche Marketing Tactic #4, “Posting keyword rich articles or reports throughout the web”
Niche marketing doesn’t differ from any other online search engine marketing, posting relevant content is the best way (bar none) to get the right type of traffic to your niche site.
Writing keyword rich articles or reports and posting them to high traffic web sites is a great way to make sure that you get maximum exposure within your niche market. People will use your keywords to search for information about the topic that they have interest in, and they will come across your web site on the search engines results.
Niche marketing caters to a distinct and select group of people who need what you have to offer. If you define your niche properly and make sure that your ability to solve their problem is something that they will pay for, you will have established a “money maker”.
Utilize the search engines to make it easy for your niche market to find your service or product. Niche marketing is the easiest way to be successful on the Internet if you do the proper research.
niche+marketing
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Niche Marketing Examples
April 13, 2010 by wpautoblog
Filed under Niche Marketing
Henry Lawrence asked:
When deciding on your niche you must understand, firstly what a niche market is,
A niche market is a group of people looking for something specific, people who have certain wants or needs within your intended niche.
Here are some niche marketing examples.
It is best to target groups of people who are emotional or fanatical about what you are offering, e.g. sportsmen or hobbyists.
Most golfers seem more than happy to spend money on a the latest product or device that increases the distance of their drive, or maybe corrects a bad swing, these people WANT your product and will buy it because they want it, and want it now.
Different to the group of people who will most probably buy the product, but will take time to look around some more before deciding where they buy from.
And thirdly those who may possibly buy it some time in the future, and you should also realize some people use the internet to review products, and may never buy online.
Another good idea is to try to find something that is in demand in a category where people are happy to spend money, and two of the main things searched for on the internet is ways to avoid “pain” e.g. “Natural headache relief” or how to overcome “problems” e.g. “Cure acne in 3 days”…remember this when choosing your niche.
These are a couple of examples, there are so many more, take your time , brainstorm, if you have done your research and you are happy with your decision, this is a good base to carry you forward.
niche+marketing
When deciding on your niche you must understand, firstly what a niche market is,
A niche market is a group of people looking for something specific, people who have certain wants or needs within your intended niche.
Here are some niche marketing examples.
It is best to target groups of people who are emotional or fanatical about what you are offering, e.g. sportsmen or hobbyists.
Most golfers seem more than happy to spend money on a the latest product or device that increases the distance of their drive, or maybe corrects a bad swing, these people WANT your product and will buy it because they want it, and want it now.
Different to the group of people who will most probably buy the product, but will take time to look around some more before deciding where they buy from.
And thirdly those who may possibly buy it some time in the future, and you should also realize some people use the internet to review products, and may never buy online.
Another good idea is to try to find something that is in demand in a category where people are happy to spend money, and two of the main things searched for on the internet is ways to avoid “pain” e.g. “Natural headache relief” or how to overcome “problems” e.g. “Cure acne in 3 days”…remember this when choosing your niche.
These are a couple of examples, there are so many more, take your time , brainstorm, if you have done your research and you are happy with your decision, this is a good base to carry you forward.
niche+marketing
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Work From Home and Make Money Online Easily With Niche Marketing
April 10, 2010 by wpautoblog
Filed under Niche Marketing
Rob Maggs asked:
Niche Marketing is a proven method of targeting a small group of people who are interested in a specific product.
Niche Marketing is a proven method of targeting a small group of people who are interested in a specific product.
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The Benefits Of Niche Marketing
April 10, 2010 by wpautoblog
Filed under Niche Marketing
Susan Hutson asked:
A niche market is a specialized market segment where you cater to the demand of products/ services that are not currently being supplied to by the main suppliers. It is essentially a narrowly defined market segment.
Why establish a niche market?
Simply because of the great advantage of being the sole supplier – a monopoly, or a single dominant supplier – in your target market. Small businesses may be unaware of that particular niche while large businesses won’t bother with it. The trick is to capitalize on this and develop a niche market where customers are accessible and which isn’t already owned by an established vendor.
Why Niche marketing?
Niche marketing is a very effective means of advertising as it focuses on a specific target group. Unlike other forms of marketing which tend to focus on the entire market niche marketing centers around one particular market segment. This focus on a particular market segment enables you to address the unique requirements of that target group. There a few guidelines to follow when carrying out niche marketing:
1) Meet customers’ unique needs.
Product features and benefits must have a unique appeal to your target market (market niche). You have to provide a tailor made product that will satisfy the unique requirements of your customers. A good starting point is to consider all possible product/ service variations that you can offer.
2) Say the right thing.
It’s important that you speak out to your audience in their language when reaching out to your new market niche. This is to say that it’s critical to understand how your target market works and communicate with your target market as a member of the group not as an outsider. Product features may need to be altered including basic elements apart from carrying out a separate campaign for your new niche.
In situations where the new niche market isn’t affected by demographics (changes in language or customs, an understanding of the key issues of your member’s is still needed to succeed. For example, an online business, which caters to men’s leather goods, wants to also target working women.
As it is with men, they too prefer the ease of shopping online but in their case, they would like more content as they are then able to make a more comprehensive evaluation of the products and the company which markets them. The Web marketer needs to alter the way of communicating by way of expanding its site along with revising its marketing campaign in order to successfully generate more sales from the new niche.
3) Always Test-market.
Prior to taking your next step, perform an assessment of your direct competitors that you’ll encounter in your latest market niche. By doing this you will be able to determine an action plan of how you should go about positioning your products against them.
In order to obtain a good overview of the situation, it’s best that you carry out a competitor analysis by evaluating competitors’ brochures ads, and Web sites, while keeping a lookout for their key sales points, pricing policies, delivery and customer service for instance.
4) But what if there is no existing competition?
As hard as it’s to believe, having no competition at all doesn’t mean all is well. True, this might suggest that other companies haven’t as yet been able to come up with the product or service which this niche wants to buy. On the other hand, it may well be that various companies have attempted and failed in penetrating this group. It’s a good idea therefore to test-market your products carefully in order to determine the market’s response to your products or services and message.
niche+marketing
A niche market is a specialized market segment where you cater to the demand of products/ services that are not currently being supplied to by the main suppliers. It is essentially a narrowly defined market segment.
Why establish a niche market?
Simply because of the great advantage of being the sole supplier – a monopoly, or a single dominant supplier – in your target market. Small businesses may be unaware of that particular niche while large businesses won’t bother with it. The trick is to capitalize on this and develop a niche market where customers are accessible and which isn’t already owned by an established vendor.
Why Niche marketing?
Niche marketing is a very effective means of advertising as it focuses on a specific target group. Unlike other forms of marketing which tend to focus on the entire market niche marketing centers around one particular market segment. This focus on a particular market segment enables you to address the unique requirements of that target group. There a few guidelines to follow when carrying out niche marketing:
1) Meet customers’ unique needs.
Product features and benefits must have a unique appeal to your target market (market niche). You have to provide a tailor made product that will satisfy the unique requirements of your customers. A good starting point is to consider all possible product/ service variations that you can offer.
2) Say the right thing.
It’s important that you speak out to your audience in their language when reaching out to your new market niche. This is to say that it’s critical to understand how your target market works and communicate with your target market as a member of the group not as an outsider. Product features may need to be altered including basic elements apart from carrying out a separate campaign for your new niche.
In situations where the new niche market isn’t affected by demographics (changes in language or customs, an understanding of the key issues of your member’s is still needed to succeed. For example, an online business, which caters to men’s leather goods, wants to also target working women.
As it is with men, they too prefer the ease of shopping online but in their case, they would like more content as they are then able to make a more comprehensive evaluation of the products and the company which markets them. The Web marketer needs to alter the way of communicating by way of expanding its site along with revising its marketing campaign in order to successfully generate more sales from the new niche.
3) Always Test-market.
Prior to taking your next step, perform an assessment of your direct competitors that you’ll encounter in your latest market niche. By doing this you will be able to determine an action plan of how you should go about positioning your products against them.
In order to obtain a good overview of the situation, it’s best that you carry out a competitor analysis by evaluating competitors’ brochures ads, and Web sites, while keeping a lookout for their key sales points, pricing policies, delivery and customer service for instance.
4) But what if there is no existing competition?
As hard as it’s to believe, having no competition at all doesn’t mean all is well. True, this might suggest that other companies haven’t as yet been able to come up with the product or service which this niche wants to buy. On the other hand, it may well be that various companies have attempted and failed in penetrating this group. It’s a good idea therefore to test-market your products carefully in order to determine the market’s response to your products or services and message.
niche+marketing
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Niche Marketing
March 18, 2010 by wpautoblog
Filed under Niche Marketing
Benjamin Seow Chu Yan asked:
When internet marketing was first catching on there were fewer people to target. Consequently the internet marketer could simply market to anyone on the internet without having to worry about things like industry niche and so on. There was simply no need for targeted marketing. Back in those days the range of products too had a nearly universal appeal that again meant generic marketing for the whole net. The only concern was to reach as many people as possible regardless of any demographic variation.
Things have changed drastically with the internet population increasing every day. Today the internet has become specialized as it tries to reach specific segments of people. Products too have become user-centric. All of this has resulted in a desperate need for focus in marketing because an ill defined target means advertisement campaign budget being wasted as the wrong audience will be viewing the ads.
Niche advertising has become the reality of internet marketing today. There is no percentage in general marketing. There is a plenty of size variation within niches. The key thing is that all niches have peculiar defining characteristics and demographic appeal that defines the marketing strategy that will work with them.
A good internet marketer always looks for undeserved niches. This means that the best niche to advertise in is one that falls within a common pool of the demographic appeal but has yet to be discovered by other internet marketers. Finding such niches is becoming quite difficult but once you have found an undeserving niche and you have the means to cater to its needs then you are in good business.
This is how niche internet marketing works. By finding an undiscovered niche and then catering to its requirements. Sometimes it may seem that you have found a new niche but that is not the case. You need thorough research to confirm that the niche you are going to work with is truly underserved. You must also double check to make sure that your products and services will appeal to this niche. Only then should you start thinking on developing your product.
This is not as easy as it sounds because every step will require extensive research and confirmation that things are indeed as they appear to be. Any lapse in this process means that you will have spent a lot of time and money on trying to work with a niche that was not meant for you at all.
What you need to keep in mind is that even if the going is tough the end result is well worth every bit of effort you make. Niche marketing is the most rewarding form of internet operation that anyone could do. It is difficult yes but nothing pays as well as niche marketing.
Niche marketing works well because there is no sales resistance. Your prospects are simply waiting for you to make them an offer and help you sell your product. There is also no competition because you will be the one to have discovered the niche. No one else knows about it and hence no one is marketing to it.
niche+marketing
When internet marketing was first catching on there were fewer people to target. Consequently the internet marketer could simply market to anyone on the internet without having to worry about things like industry niche and so on. There was simply no need for targeted marketing. Back in those days the range of products too had a nearly universal appeal that again meant generic marketing for the whole net. The only concern was to reach as many people as possible regardless of any demographic variation.
Things have changed drastically with the internet population increasing every day. Today the internet has become specialized as it tries to reach specific segments of people. Products too have become user-centric. All of this has resulted in a desperate need for focus in marketing because an ill defined target means advertisement campaign budget being wasted as the wrong audience will be viewing the ads.
Niche advertising has become the reality of internet marketing today. There is no percentage in general marketing. There is a plenty of size variation within niches. The key thing is that all niches have peculiar defining characteristics and demographic appeal that defines the marketing strategy that will work with them.
A good internet marketer always looks for undeserved niches. This means that the best niche to advertise in is one that falls within a common pool of the demographic appeal but has yet to be discovered by other internet marketers. Finding such niches is becoming quite difficult but once you have found an undeserving niche and you have the means to cater to its needs then you are in good business.
This is how niche internet marketing works. By finding an undiscovered niche and then catering to its requirements. Sometimes it may seem that you have found a new niche but that is not the case. You need thorough research to confirm that the niche you are going to work with is truly underserved. You must also double check to make sure that your products and services will appeal to this niche. Only then should you start thinking on developing your product.
This is not as easy as it sounds because every step will require extensive research and confirmation that things are indeed as they appear to be. Any lapse in this process means that you will have spent a lot of time and money on trying to work with a niche that was not meant for you at all.
What you need to keep in mind is that even if the going is tough the end result is well worth every bit of effort you make. Niche marketing is the most rewarding form of internet operation that anyone could do. It is difficult yes but nothing pays as well as niche marketing.
Niche marketing works well because there is no sales resistance. Your prospects are simply waiting for you to make them an offer and help you sell your product. There is also no competition because you will be the one to have discovered the niche. No one else knows about it and hence no one is marketing to it.
niche+marketing
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Small Business Marketing Strategies – Niche Marketing Begins With You
March 6, 2010 by wpautoblog
Filed under Niche Marketing
Cindy Schulson asked:
Many entrepreneurs think that in developing their small business marketing strategies, they are best off selling to the widest possible market. They are afraid to pursue a niche because they fear they’ll lose business by turning away customers. The truth is that if you are not marketing to a distinct group of customers and offering them a unique solution, you will not be heard or found online.
Benefits of Niche Marketing When you market to a specific niche, you can focus your marketing resources. You understand the needs and language of your niche, so you can communicate better with them and speak directly to their situation.
By focusing on a niche, you become an expert at providing your service or product. And as an expert, you command higher fees and leverage your efforts to create multiple streams of income.
Above all, when you target a niche, you can differentiate yourself. You significantly reduce your competition and create a distinctive personal brand.
Niche Definition There are many definitions of niche and target market, and the two are often used interchangeably. But there is an important distinction.
A target market is the group of people most likely to buy your product or service. They are the people to whom your product is being marketed
A niche adds another dimension. A niche combines your target market (WHO) with the solution you are providing (WHAT). When you combine your “what” with your “who”, you have your niche.
Niche = target market (who) + the problem you are solving/need you are fulfilling (what)
The key to understanding niche marketing is realizing that people don’t buy a service or product, they buy a solution. That solution can help them solve a problem or achieve a goal. Being a solution provider is critical for good relationship marketing. When you become the solution provider for your target market, you are a winner.
How to Find Your Niche To identify your niche, is it best to start with your “who” or your “what”?
You can go either way, but in many cases, it is best to start with YOU.
You can’t be great at everything, but there is an area in which you have something special to offer — a unique skill or perspective or approach. What is unique about you and what you have to offer? What are your passions, skills, interests and expertise?
Once you have identified that, think about who wants what you have to offer. There has to be synchronicity between what you have to offer and what your target market wants. When you find that connection, you can identify your niche.
Remember, there is only one YOU, and you will ultimately attract those who find you compelling. Be true to yourself and you have the ability to help other people in ways that nobody else can.
niche+marketing
Many entrepreneurs think that in developing their small business marketing strategies, they are best off selling to the widest possible market. They are afraid to pursue a niche because they fear they’ll lose business by turning away customers. The truth is that if you are not marketing to a distinct group of customers and offering them a unique solution, you will not be heard or found online.
Benefits of Niche Marketing When you market to a specific niche, you can focus your marketing resources. You understand the needs and language of your niche, so you can communicate better with them and speak directly to their situation.
By focusing on a niche, you become an expert at providing your service or product. And as an expert, you command higher fees and leverage your efforts to create multiple streams of income.
Above all, when you target a niche, you can differentiate yourself. You significantly reduce your competition and create a distinctive personal brand.
Niche Definition There are many definitions of niche and target market, and the two are often used interchangeably. But there is an important distinction.
A target market is the group of people most likely to buy your product or service. They are the people to whom your product is being marketed
A niche adds another dimension. A niche combines your target market (WHO) with the solution you are providing (WHAT). When you combine your “what” with your “who”, you have your niche.
Niche = target market (who) + the problem you are solving/need you are fulfilling (what)
The key to understanding niche marketing is realizing that people don’t buy a service or product, they buy a solution. That solution can help them solve a problem or achieve a goal. Being a solution provider is critical for good relationship marketing. When you become the solution provider for your target market, you are a winner.
How to Find Your Niche To identify your niche, is it best to start with your “who” or your “what”?
You can go either way, but in many cases, it is best to start with YOU.
You can’t be great at everything, but there is an area in which you have something special to offer — a unique skill or perspective or approach. What is unique about you and what you have to offer? What are your passions, skills, interests and expertise?
Once you have identified that, think about who wants what you have to offer. There has to be synchronicity between what you have to offer and what your target market wants. When you find that connection, you can identify your niche.
Remember, there is only one YOU, and you will ultimately attract those who find you compelling. Be true to yourself and you have the ability to help other people in ways that nobody else can.
niche+marketing
Niche Marketing With a Sustainable Competitive Advantage
February 9, 2010 by wpautoblog
Filed under Niche Marketing
John Bradley Jackson asked:
A Sustainable Competitive Advantage (SCA) is a unique offering that is valued by your customer and is not available from the competition. It is not what you think it is or what you want it to be. It is what your customer believes and that is what counts. This perception is everything.
Your SCA is made up distinctive competencies, which are unique attributes or benefits that are valued by the customer. Simply stated, this means that you do different things, or that you do things differently from your competition. These distinctive competencies are so valuable to your customer that they will choose your offering instead of the competition’s offering. These benefits could be unique product features, product design, method of delivery, or even your brand.
An example of doing things differently is Starbucks. They serve coffee, which is hardly unique, but they make the coffee buying experience almost a lifestyle. Have you seen the lines at this place? And, people go to Starbucks just to hang out. An example of doing different things might be MySpace; although not the first social networking site, they targeted the younger crowd and created an environment to connect and express yourself with 100 million other individuals.
A competitive advantage is sustainable if others can’t copy it or deliver the same thing, or if the cost or the time to develop a competing solution is very significant. Being first to market may provide a competitive advantage in the short run, but it is seldom sustainable.
To determine your SCA, list your distinctive competencies, which are the unique attributes or benefits that are valued by your customers. Then list your chief competitor’s distinctive competencies. Compare both lists. Delete the attributes or benefits from your list that you share with your competitor since they are not truly unique. The remaining items on your list make up your competitive advantage.
Next, ask yourself is it sustainable? Can this competitive advantage be duplicated and, if so, how soon? If your competitive advantage is easily cloned, then you had better come up with some new attributes because you are not alone.
Remember, only dead fish swim with the current.
John Bradley Jackson
niche+marketing
A Sustainable Competitive Advantage (SCA) is a unique offering that is valued by your customer and is not available from the competition. It is not what you think it is or what you want it to be. It is what your customer believes and that is what counts. This perception is everything.
Your SCA is made up distinctive competencies, which are unique attributes or benefits that are valued by the customer. Simply stated, this means that you do different things, or that you do things differently from your competition. These distinctive competencies are so valuable to your customer that they will choose your offering instead of the competition’s offering. These benefits could be unique product features, product design, method of delivery, or even your brand.
An example of doing things differently is Starbucks. They serve coffee, which is hardly unique, but they make the coffee buying experience almost a lifestyle. Have you seen the lines at this place? And, people go to Starbucks just to hang out. An example of doing different things might be MySpace; although not the first social networking site, they targeted the younger crowd and created an environment to connect and express yourself with 100 million other individuals.
A competitive advantage is sustainable if others can’t copy it or deliver the same thing, or if the cost or the time to develop a competing solution is very significant. Being first to market may provide a competitive advantage in the short run, but it is seldom sustainable.
To determine your SCA, list your distinctive competencies, which are the unique attributes or benefits that are valued by your customers. Then list your chief competitor’s distinctive competencies. Compare both lists. Delete the attributes or benefits from your list that you share with your competitor since they are not truly unique. The remaining items on your list make up your competitive advantage.
Next, ask yourself is it sustainable? Can this competitive advantage be duplicated and, if so, how soon? If your competitive advantage is easily cloned, then you had better come up with some new attributes because you are not alone.
Remember, only dead fish swim with the current.
John Bradley Jackson
niche+marketing
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Niche Marketing – What is a Niche?
February 1, 2010 by wpautoblog
Filed under Niche Marketing
Ken Mathie asked:
Niche marketing. You hear this term thrown around like a sack of potatoes day in and day out. People use it, many times to impress others with their knowledge of Internet marketing, but sometimes to actually convey some real meaning and content to another. Hopefully, what you’re about to read will fall in the category of the latter and you’ll actually learn something after reading this and the other articles on niche marketing.
So, just what is a niche? Well, the definition is actually quite simple. A niche is a certain segment of the population where you intend to concentrate your efforts. For example. You have decided, for whatever reason, that you want to sell health related products. You’ve done your research and have discovered that a good number of the people in this world are sick in some way. So selling health related products would be a general niche. Now, you could leave your niche at this if you had, say, a wholesaler who could supply you with a number of health related products. But maybe you can’t get your hands on everything from soup to nuts related to healthcare and only have access to a few items. It may be a good idea to narrow your general niche down to a more specific niche, such as acne cures. If you have got a good home remedy for acne written up in ebook form, this could turn into a big seller and you don’t have to worry about carrying a lot of inventory. You’ve narrowed down your niche to one specific item.
The first question you might be tempted to ask is, “Why concentrate on just one niche?” The answer is simple to explain but sometimes hard to understand. The problem with understanding the answer is that many people have the philosophy of throwing as many things up against the wall in an effort to see if any of them stick. In other words, they try to market anything and everything. The problem with that way of thinking is the reason why you DO want to concentrate on a particular niche.
By concentrating on one niche you are more focused. Your web site or sales page has one goal and one goal only. To sell xyz product and nothing else. This makes you an “expert” in this area and the buying public will have more respect for you. Think about it. Dell Computers doesn’t try to sell diapers. They do well enough just selling computers.
Another reason you want to concentrate on one niche is because of advertising costs. When you’re promoting just one product or service, you can put all your advertising dollars into that one product or service and have the best chance of making sales. If you try to sell everything under the sun you end up splitting your available funds into so many different areas that you can’t effectively promote any of them. This is not to say that you can’t have more than one niche. Most likely after you create your first niche product and become profitable with it, you can take some of those profits and pick another niche. So say you are selling acne cures. You can then maybe branch out after a while and sell cold sore cures. Eventually, you will be involved in several niches, remembering to keep each one as a separate business and sales page.
Niche marketing is the most targeted marketing there is, and with proper research, can be the most profitable.
niche+marketing
Niche marketing. You hear this term thrown around like a sack of potatoes day in and day out. People use it, many times to impress others with their knowledge of Internet marketing, but sometimes to actually convey some real meaning and content to another. Hopefully, what you’re about to read will fall in the category of the latter and you’ll actually learn something after reading this and the other articles on niche marketing.
So, just what is a niche? Well, the definition is actually quite simple. A niche is a certain segment of the population where you intend to concentrate your efforts. For example. You have decided, for whatever reason, that you want to sell health related products. You’ve done your research and have discovered that a good number of the people in this world are sick in some way. So selling health related products would be a general niche. Now, you could leave your niche at this if you had, say, a wholesaler who could supply you with a number of health related products. But maybe you can’t get your hands on everything from soup to nuts related to healthcare and only have access to a few items. It may be a good idea to narrow your general niche down to a more specific niche, such as acne cures. If you have got a good home remedy for acne written up in ebook form, this could turn into a big seller and you don’t have to worry about carrying a lot of inventory. You’ve narrowed down your niche to one specific item.
The first question you might be tempted to ask is, “Why concentrate on just one niche?” The answer is simple to explain but sometimes hard to understand. The problem with understanding the answer is that many people have the philosophy of throwing as many things up against the wall in an effort to see if any of them stick. In other words, they try to market anything and everything. The problem with that way of thinking is the reason why you DO want to concentrate on a particular niche.
By concentrating on one niche you are more focused. Your web site or sales page has one goal and one goal only. To sell xyz product and nothing else. This makes you an “expert” in this area and the buying public will have more respect for you. Think about it. Dell Computers doesn’t try to sell diapers. They do well enough just selling computers.
Another reason you want to concentrate on one niche is because of advertising costs. When you’re promoting just one product or service, you can put all your advertising dollars into that one product or service and have the best chance of making sales. If you try to sell everything under the sun you end up splitting your available funds into so many different areas that you can’t effectively promote any of them. This is not to say that you can’t have more than one niche. Most likely after you create your first niche product and become profitable with it, you can take some of those profits and pick another niche. So say you are selling acne cures. You can then maybe branch out after a while and sell cold sore cures. Eventually, you will be involved in several niches, remembering to keep each one as a separate business and sales page.
Niche marketing is the most targeted marketing there is, and with proper research, can be the most profitable.
niche+marketing
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