Internet Marketing and Defining a Niche
What is a niche market?
What is a niche market?
A niche market is a segment of an overall, larger market. If car owners are a market, then Ferrari owners would be a niche market, and Ferrari F430 convertible owners would be an even more specialized niche.
Every product, and business, is defined by the niche it serves. Every business serves a niche of some kind. Every business person needs to know their customer, and knowing the customer means defining what market niche they serve.
Why are the benefits of defining a niche?
Like any other business person, you need to know what your customer is looking for, so you can provide it to them. By defining your niche, you define your customer their backgrounds, preferences, needs, and interests, and can be more effective at tailoring your product, and your marketing efforts, to those people.
Successful business people understand that only a limited group of consumers are potential buyers of their product or service. They try to determine, as closely as possible, who those people are, and direct the business's product or service, and marketing efforts and dollars, toward them. You, too, can build and grow a profitable business, by identifying and serving a particular customer group your target market.
Some business owners think that they limit themselves by defining a niche. Actually, the opposite is true. Defining a niche increases your profit opportunities because you are focusing directly on the people most likely to buy your product.
Additionally, by defining a niche, you are limiting the amount of competition you have. Large businesses cannot cater to every niche. It's simply not cost effective for them. As a small business, you have the advantage of being able to provide products to a set of consumers that other businesses have passed over.
How does defining a niche apply to internet marketing?
Defining a niche is just as important for an internet marketer as for other businesses. Before you publish your web site, you must decide who will buy your product online, then direct your marketing efforts toward those people. You have to identify your niche market, find or create a product that they would buy, then get them to come and buy from you, in order to be a successful internet marketer.
Defining a niche beforehand gives you several advantages as an internet marketer:
You can direct your marketing efforts to your defined niche market. You know where your customers hang out on the internet, which blogs they read, and which message boards and discussions forums they frequent, so you can advertise there.
You can design and optimize your website so that your niche customers will find you through search engines.
You can customize your website to your niche market. You can provide information and advice that is useful to them, and help them find products that are specific to their needs and interests.
If you don't find a product out there for your niche market, you can create your own. Having defined your niche customers, you can more easily develop new products for them.
For an internet marketer, finding a niche revolves around keyword research: finding out how many people are searching for information on a specific topic (which tells you the size of the niche) and how many other sites are already there (your competition).
To get more information about niche research as an internet marketer, visit
http://fastinternetmarketingsuccess.com/how-to-find-a-suitable-niche
Internet Marketing and Defining a Niche
By: Matt Ge
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