Niche Marketing 101
Why you should consider Niche Marketing and the 4 Most Important Things You MUST know before targeting a specific market.
By Joe Garris
Maybe you thought your chance to make money online was gone?
Or that the only people that were making tons of profits were the ones selling "Make Money Online" products?
Well, there is a revolution that is rapidly approaching that could literally change your financial future forever.
It is not some hot trend that will come and go in a year or so. It is not an area that you have to study for years before you can begin to reap the rewards.
The principles are based on sound business concepts that have been taught and proven for years by some of the most successful marketers in the world.
What I'm referring to is Niche Marketing.
In order to be successful with a online niche business, you need to be able to find niche ideas, evaluate them, develop products around them, profit from them and then duplicate your success in other niche markets. But first, you need to study the basics of Niche Marketing...
What is a niche market anyway?
You can loosely define a niche market as composed of individuals and businesses that have similar interests and needs.
A better way to think about this is to imagine you are fishing.
Niche Marketing would be like you fishing in a small pond packed with really hungry fish and you have the bait they like the most.
The opposite is mass marketing which would be like fishing in a large pond with a ton of fish spread throughout the pond that are overfed and thus have their choice of meals.
Why Should You Consider Niche Marketing?
In short, you should consider Niche Marketing unless you are a large corporation with deep pockets. If you are a large corporation then by all means, stay with the masses...PLEASE!
Most large corporations ignore the niche markets because they are not trying to make an extra $1,000 to $15,000 per month like many small business owners and entrepreneurs.
Instead, they are looking to make extra millions per month.
This is great news for us because we don't have to compete with the advertising budgets of these large corporations.
It is also pretty easy to find potential customers in niche markets. Simply put, people that have the same passion usually read the same things and hangout at the same places.
Just in case you were wondering, here are some examples of Niche Markets - some larger (and weirder) than others:
Winter Camping EnthusiastsMotor Coach OwnersCarpet Cleaner Business OwnersFerret OwnersPyrographers - That's Wood BurningCocker Spaniel OwnersScrapbookers - Much larger Niche than it used to be.
Before we go any further, here are the 4 most important things you need to know before deciding which "niche market" to pick:
1. Is the market easily defined and reachable?
Where do they hangout? What publications do they read?Do they have clubs or events that brings them together? Are they looking for information online?
2. Is the market small enough that there are not many competitors but large enough to allow you to make a profit?
You want a small pond but it must have enough "fish" to make it worth your efforts.
3. Will the market actually have and spend money?
Do they actually buy stuff? A good sign is if there are sites selling products for the market. Hard products are usually not the most profitable products to sell. But, if hard products are being sold, this is a good sign and these businesses are potential joint venture partners.
4. Does the group have ridiculous amount of passion for the hobby or topic!
Do they eat and sleep the hobby?
You are looking for prospects that are so passionate that they must have all the information related to their subject.
A great example....GOLFERS!
We have to have the newest equipment, gadget and every golf magazine just in case there is that one hot tip that can change or game and allow us to actually beat our golfing partner next time out.
This article is the first part of a SIX PART FREE Mini-Course available by =>Clicking Here<=
By Joe Garris
Maybe you thought your chance to make money online was gone?
Or that the only people that were making tons of profits were the ones selling "Make Money Online" products?
Well, there is a revolution that is rapidly approaching that could literally change your financial future forever.
It is not some hot trend that will come and go in a year or so. It is not an area that you have to study for years before you can begin to reap the rewards.
The principles are based on sound business concepts that have been taught and proven for years by some of the most successful marketers in the world.
What I'm referring to is Niche Marketing.
In order to be successful with a online niche business, you need to be able to find niche ideas, evaluate them, develop products around them, profit from them and then duplicate your success in other niche markets. But first, you need to study the basics of Niche Marketing...
What is a niche market anyway?
You can loosely define a niche market as composed of individuals and businesses that have similar interests and needs.
A better way to think about this is to imagine you are fishing.
Niche Marketing would be like you fishing in a small pond packed with really hungry fish and you have the bait they like the most.
The opposite is mass marketing which would be like fishing in a large pond with a ton of fish spread throughout the pond that are overfed and thus have their choice of meals.
Why Should You Consider Niche Marketing?
In short, you should consider Niche Marketing unless you are a large corporation with deep pockets. If you are a large corporation then by all means, stay with the masses...PLEASE!
Most large corporations ignore the niche markets because they are not trying to make an extra $1,000 to $15,000 per month like many small business owners and entrepreneurs.
Instead, they are looking to make extra millions per month.
This is great news for us because we don't have to compete with the advertising budgets of these large corporations.
It is also pretty easy to find potential customers in niche markets. Simply put, people that have the same passion usually read the same things and hangout at the same places.
Just in case you were wondering, here are some examples of Niche Markets - some larger (and weirder) than others:
Winter Camping EnthusiastsMotor Coach OwnersCarpet Cleaner Business OwnersFerret OwnersPyrographers - That's Wood BurningCocker Spaniel OwnersScrapbookers - Much larger Niche than it used to be.
Before we go any further, here are the 4 most important things you need to know before deciding which "niche market" to pick:
1. Is the market easily defined and reachable?
Where do they hangout? What publications do they read?Do they have clubs or events that brings them together? Are they looking for information online?
2. Is the market small enough that there are not many competitors but large enough to allow you to make a profit?
You want a small pond but it must have enough "fish" to make it worth your efforts.
3. Will the market actually have and spend money?
Do they actually buy stuff? A good sign is if there are sites selling products for the market. Hard products are usually not the most profitable products to sell. But, if hard products are being sold, this is a good sign and these businesses are potential joint venture partners.
4. Does the group have ridiculous amount of passion for the hobby or topic!
Do they eat and sleep the hobby?
You are looking for prospects that are so passionate that they must have all the information related to their subject.
A great example....GOLFERS!
We have to have the newest equipment, gadget and every golf magazine just in case there is that one hot tip that can change or game and allow us to actually beat our golfing partner next time out.
This article is the first part of a SIX PART FREE Mini-Course available by =>Clicking Here<=
posted by NitroPod at 9:19 AM
<< Home