Niche And Grow Rich
Except if you've been living under an Internet rock
, you've most likely heard the buzz about Niche Marketing. Right now, it is the hottest marketing topic online.
Is it a new concept?
Okay, on the web maybe, but if like me, you have been involved in direct response marketing in the 'Bricks and Mortar' world then it's not - that's the way we have completed things since time immemorial.
So what is this Niche Marketing thing all about?
If you have ever taken Marketing 101 then you'll have heard about the old marketing adage : "Find a need and fill it" -that's what "Niche Marketing" is all about. Discovering a "focused" group of people, with a specialized interest, willing to buy (The Niche) and promoting a suitable product or service to all those interested in buying it (Marketing).
Let me provide you a few examples of these Niches :
Recipes Golf Fishing Health and Fitness Travel Collectibles Dating Dog Training Satellite TV Beauty Tips Astrology Cats Bartending Alternative Health Hand-poured Candles Gourmet Foods Gambling Mortgages Credit Cards Music Jewellery
The list simply goes so on and these are only the main headings, you will find niches within all these niches. Think about a subject and there is likely a niche market for it.
But the name of the game is to find a "tightly focused" niche. The reason for this that if you focus on a general market, the competition is fierce and it is hard, if not impossible, for the small guy to get a foothold.
When you narrow down the size of the market, you eliminate most of the heavy hitters with bottomless advertising budgets, because these guys aren't interested in making a couple of thousand bucks annually from these small specialized markets, they are pursuing millions from mass markets.
And let's face it, if you are a little man, you simply can't be everything to everybody, so you must pick a specific focus (Niche) for your business. For instance do not target "Fishing", instead target "Fishing Baits" or "Fishing Lures" both of which have a much more specific focus.
Get the idea?
As soon as you narrow down the size of the market, you have an automatic advantage over larger companies. Here's why :
* You are able to rapidly become an expert in your niche (if you are not already)
* It is simpler to keep current with a narrowly focused market niche
* You are able to respond quicker to changes in the market
* You can develop close relationships with key clients that will be hard to compete with
Niche marketing isn't a magic bullet. It's not a matter of setting up a website and then sitting back and waiting for the cash to roll in - "build it and they will come" might have worked for Kevin Costner in Field of Dreams, however it doesn't work that manner on the web - if you let that happen, you'll be waiting a long time.
If you want a successful niche business, you need to work at it the same as any other business - if you're prepared to put in the effort, though the rewards can be substantial.
by: Christine Jackson.
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