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've 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've 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.
So, how do you find YOUR niche?
That's coming in our next installment in this series. |
