subject: Discover The Secrets To Digging Up Profitable Niche Marketing Ideas [print this page] For any business that has a product or service to sell, the ideal market would of course be one with a strong demand for that product, but without a lot of competitors. Especially if you have a small business, it's virtually useless to try and compete with the chain stores purely on the basis of price. You will be much better off targeting a subsection of the bigger market for which the large stores are not catering and for which your products are ideally suited. This is commonly referred to as a niche market and coming up with new niche marketing ideas should be of prime importance to every business owner.
How does one start a business based on such a nice marketing idea? The surest way to success it most likely to start off by taking stock of your existing experience, products, knowledge and talents. To start a business with a product that you know is hard enough - starting one in a field which you know nothing about is simply so much harder.
Let us for example say that you are a housewife and with the current economic circumstances you need to bring in extra money for the family. You don't want to work full-time and leave the kids alone - you'd much rather start a business from home. Sit down and make a list of all your interests, hobbies and talents. Everything that makes you special as a person.
In our modern era of mass production, there's always a demand for homemade products. If you are known to make the best jam in your community, why not turn this into a lucrative business? Don't for example market the product to the end consumer, but package it very attractively, in a jar with an old-fashioned label that says 'home made' and market it to people who buy it as presents for other people. If you keep the product and packaging very upmarket, you can charge more for it than the store because the buyer wants something that looks classy.
The same principles can be applied if you decided to sell home-made perfume gift packs for example. Your product has to convince the customer that it's unique. It has to be presented and packaged in such a way that it does not compete directly with what's available on the supermarket shelves. It has to appeal to your particular target market.
Another way in which to exploit a niche market is to take an existing product and add value to it. Let's say you have a website hosting business. The fact of the matter is that you are in an extremely competitive market. You are selling a product that is basically similar to that of thousands of other service providers.
You can start off by adding value to your hosting accounts. Something that your competitors don't have. There is a large group of small business owners who would like to do their own websites, but they don't have the skills. So add an easy visual website builder to your hosting deals, something that even a novice can use to build a website. Give away a free domain name with each hosting account. In this way you are creating a new package deal that appeals to a specific niche market.
Finding niche marketing ideas is not always easy. It will take a lot of time to sift through the different ideas initially. But once you've found such a market, and the customers start to return again and again, you will feel like kicking yourself because you didn't think of it earlier.
