Niche And Grow Rich
I have no doubt that most people reading this have heard at least something about Niche Marketing; many of you are probably well aware of it and practice it regularly. Niche Marketing has been around online for quite a while now, and has been well-established in the offline world since the dawn of human trade and commerce, but the really exciting part is that it's only getting bigger online!
If you have ever taken Marketing 101 then you will be familiar with 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).
Examples are too numerous to list, but, just to give you and idea, these are some things that "niches" could be: Recipes, Golf, Fishing, Health and Fitness, Travel, Collectibles, Dating, Dog Training, TV and Movies, Beauty Tips, Astrology, Cats, Bartending, Alternative Health Practices, Hand-Poured Candles, Gourmet Foods, Loans and Mortgages, Credit Cards, Music, and Jewelry - just to skim the surface of some of the "hotter" ones.......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's likely a niche market for it...
Remember, though, that part of the name of the game is to find a "tightly focused" niche. The reason for this is that if you target a general market the competition is fierce and it's hard, if not impossible, for the little guy to get a foothold.
When you narrow down the size of the market you eradicate most of the heavy hitters with bottomless advertising budgets, because these guys aren't interested in making a few thousand bucks a year from these tiny specialized markets, they're after millions from mass markets.
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 (Niche) for your business. For example don't target "Fishing", instead target "Fishing Baits" or "Fishing Lures" both of which have a much more specific focus......and you can even get more specific and continue narrowing down from there, if necessary. Get the idea?
Once you narrow down the size of the market you have an automatic advantage over larger companies. Here's why :
* You can quickly become an expert in your niche (if you're not already).
* It's easier to keep current with a narrowly focused market niche.
* You can respond faster to changes in the market.
* You can build close relationships with key customers that will be hard to compete with.
By now you're probably wondering about the mechanics of Niche Marketing. 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 web presence to market these products/services.
* Establish a marketing system that works for you.
* Repeat the process over and over again with a different niche each time.
Before you get too excited, I have a word of caution for you: Niche Marketing is not a magic bullet! It isn't a matter of putting up a web site 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 - if you're prepared to put in the effort, though, the rewards can be significant.
Biz Opp Empire
International K-12 Educator,
CLICK HERE for most recent blog post.