Found a nice article on Niche Marketing, thought we could all benefit from its wisdom.
the Author: Rich Griffith
What is Niche Marketing?
Niche marketing is an evolution of internet marketing. Niche marketing is a business strategy that involves marketing real products to real people, based on their needs and interests.
Small markets are called niches. These markets are driven by the passion and enthusiasm of real people with money to spend and an intense interest in the subject matter being considered.
In the past, internet marketing revolved around general markets, but the growing numbers of internet marketers has made the competition in these general markets increasingly strong. Niche marketing caters to smaller markets that have a bigger following.
To give an example, rather than focusing on dogs, a niche market would focus on Beagles.
It is not that difficult to succeed in niche marketing. Here are some helpful suggestions as to how you can win in the niche market of your choice:
1. Discover what people are searching for online. You will need a certain amount of instinct, but there are several tools available to you to that will help you find out about the most searched niches.
Keyword research and marketing skills can help you succeed in highly profitable niche markets. There are also subscription services that provide niche information.
2. Next you will want to locate several potential niches, you will have to find out how profitable each one may be. Search for advertisements and online stores selling products relating to your chosen niche. Check the prices and availability of these products.
3. Examine the competition. Are there already numerous sites and online stores selling to your chosen niche? You can invest in Word Tracker or similar tools, which will give you an idea of the supply and demand, and the competing web sites.
4. You can choose to create an item that would be of value to your chosen niche. This could be an e-book, software, streaming media, or subscriptions. Selling information is huge and profitable, especially if targeted at a select audience.
5. You can build a web site devoted to your chosen niche and provide valuable content. Original content that provides your niche market with unique information will keep visitors coming to your site, exposing people to your unique products.
The products you sell to your target audience must be unique and specific to your chosen niche. If you cannot develop unique products, use care and search for the best products you intend to sell.
If you build your site and do not focus specifically on your niche, your web site visitors will look elsewhere. A newsletter would be an excellent way to keep your visitors coming back and keep them exposed to your products and services.
Niche marketing is one of the better ways to ensure your success as an internet marketer. It will require time and hard work, but the potential profits are well worth the effort.
The concept of niche marketing provides you with an opportunity to create a specialized, highly profitable market for yourself. There are almost an unlimited number of niche markets. With research and effort, you can create a specialized web site that sells products that are unavailable elsewhere.
With a reasonable amount of advertising and good niche market research, you can enjoy the benefits of your particular niche.