Niche Marketing Tips - Your Passion Vs Calculated Niche Marketing - Which Will Be More Profitable?

The Problem:

The Problem:

One of the most difficult things for niche marketers is finding a niche they are passionate about but that will also be profitable for them. Unless your passion deals in a subject that is not considered mainstream or popular, you will probably have to compete with hundreds, and sometimes thousands of other entrepreneurs looking to make money from their personal passions.

Although popular mainstream niches, such as health, weight loss, and golf often seem saturated with competition, with the right tools and knowledge this highly competitive environment can actually work in your favor, IF you approach the situation correctly.

The Question:

The BIG question is whether or not it is more profitable to spend the time needed to enter and dominate one large and popular niche, or to drill down into many smaller markets that are more specific and less likely to have stiff competition. You can certainly go big and have plenty of room to play in, but you may want to reconsider the idea of going big just yet.

There are several reasons why going big initially is not the best strategy for your niche marketing business.

1) First, the amount of time and work you will need to put in just to get everything set up correctly will be enormous. In fact, once you get set up to do business in a super competitive niche, from that point on your workload will only increase. This will keep you from being able to branch out and work on other possibly profitable projects.

2) Secondly, with massive competition comes massive worry, frustration, and anxiety. You will likely spend more time studying your competitors and trying to beat them to the punch than you will on building up your own site and online presence. You won't be able to anticipate every move your competitors are going to make so to try is just going to run you into the ground, leaving you with not much to show for it.

These two problems combine to create a third problem that can all but kill your business before it even starts.

3) You will end up spending just as much time looking forward as you will looking backward. How much growth will you experience in your business if you end up being like the caterpillar trying to get out of the well: who moves two inches forward each day, but falls 2 inches back each night as it sleeps? The answer is obvious. Your business will not grow, and you will have wasted much time and money to come to this conclusion.

Is this how it will be for everyone? Of course not. Obviously a certain percentage make it to the top and have to fight to remain there. They generally already have the capital and experience needed to do this correctly. If you think you are made for this type of business go for it.

If you are truly dedicated and passionate about your business, even if it is in an ultra-competitive niche, you may just be able to re-make the niche in your own image and carve out a place there. However, there is another way.

The Answer:

There are many paths to online success. There are thousands of ultra-specific and very specialised niches that can generate massive profits for those that are willing to spend just a little time researching them before they go all out.

These niches are not as competitive as their more popular counterparts, and the audience size and customer base may not be as large, but massive profits and top payouts can be gained for those who use their heads and take the time to research and master these smaller markets. In fact, the possibilities are truly endless.

So, which way do you want to go? The super big and profitable but totally time consuming and life-sucking way to wealth, or the more refined, coldy-calculated and ultra-focused niche way?

How about both?

Generally, the most successful marketers have worked themselves into both situations, but they started small, in more refined niches that were representative of larger possibilities.

For instance, I am passionate about running. If I wanted to earn from this passion I would have a hard time entering into this ultra-competitive niche no matter how much I knew or how much I could provide potential customers. It would take a couple years to begin to see decent returns.

However, if I started out focusing on runners who train specifically for 5k races, among other possible smaller and more specialized niches, and then used them as my taking off points into the larger and more general niche of running, I would be collecting the hard data and competitive analysis I would need to maintain commercial viability later on down the road. Plus I would stand a better chance of earning profit right away so that I could better fund the bigger projects as I went along.

There is nothing worse than entering into a market with absolutely no plan and no idea if your approach is even commercially viable. The idea is to spend some more time planning and researching the possible "niches within the niche" that your business would have a better chance at excelling in at the very beginning. This will pay off in the long run and you will be much healthier and happier too.

by: Adam Bauthues

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