Niche
Marketing 101
Why
you should consider Niche Marketing and the 4 Most Important Things You MUST
know before targeting a specific market.
By Joe Garris
Maybe you thought your
chance to make money online was gone?
Or that the only people
that were making tons of profits were the ones selling "Make Money
Online" products?
Well, there is a
revolution that is rapidly approaching that could literally change your
financial future forever.
It is not some hot trend
that will come and go in a year or so. It is not an area that you have to
study for years before you can begin to reap the rewards.
The principles are based
on sound business concepts that have been taught and proven for years by
some of the most successful marketers in the world.
What I'm referring to is
Niche Marketing
In order to be
successful with a online niche business, you need to be able to find niche
ideas, evaluate them, develop products around them, profit from them and
then duplicate your success in other niche markets. But first, you need to
study the basics of Niche Marketing...
What is a niche market
anyway?
You can loosely define a
niche market as composed of individuals and businesses that have similar
interests and needs.
A better way to think
about this is to imagine you are fishing.
Niche Marketing would be
like you fishing in a small pond packed with really hungry fish and you have
the bait they like the most.
The opposite is mass
marketing which would be like fishing in a large pond with a ton of fish
spread throughout the pond that are overfed and thus have their choice of
meals.
Why Should You Consider
Niche Marketing?
In short, you should
consider Niche Marketing unless you are a large corporation with deep
pockets. If you are a large corporation then by all means, stay with the
masses...PLEASE!
Most large corporations
ignore the niche markets because they are not trying to make an extra $1,000
to $15,000 per month like many small business owners and entrepreneurs.
Instead, they are
looking to make extra millions per month.
This is great news for
us because we don't have to compete with the advertising budgets of these
large corporations.
It is also pretty easy
to find potential customers in niche markets. Simply put, people that have
the same passion usually read the same things and hangout at the same
places.
Just in case you were
wondering, here are some examples of Niche Markets - some larger (and
weirder) than others:
Winter Camping
Enthusiasts
Motor Coach Owners
Carpet Cleaner Business Owners
Ferret Owners
Pyrographers - That's Wood Burning
Cocker Spaniel Owners
Scrapbookers - Much larger Niche than it used to be
Before we go any
further, here are the 4 most important things you
need to know before deciding which "niche market" to pick:
1.
Is the market easily defined and reachable?
Where do they hangout?
What publications do they read?
Do they have clubs or events that brings them together?
Are they looking for information online?
2.
Is the market small enough that there are not many competitors but
large enough to allow you to make a profit?
You want a small pond
but it must have enough "fish" to make it worth your efforts.
3.
Will the market actually have and spend money?
Do they actually buy
stuff? A good sign is if there are sites selling products for the market.
Hard products are usually not the most profitable products to sell. But, if
hard products are being sold, this is a good sign and these businesses are
potential joint venture partners.
4.
Does the group have ridiculous amount of passion for the
hobby or topic!
Do they eat and sleep
the hobby?
You are looking for
prospects that are so passionate that they must have all the information
related to their subject.
A great
example....GOLFERS! We have to have the newest equipment, gadget and every
golf magazine just in case there is that one hot tip that can change or game
and allow us to actually beat our golfing partner next time out.
This article is the
first part of a SIX PART FREE Mini-Course available at
http://www.ad-alyzer.com/727/productideas
=======================================================
Joe Garris has been a
Chemist at a major Pharmaceuticals company, an Internet Marketer at a
mid-sized catalog company that has yearly revenues in excess of $120 Million
Online. Additionally, Joe has consulted with nearly 100 small business
owners (many with successful offline niche businesses) helping them to
profit from niche marketing on the Internet. Joe has also co-created with
Ben Hathaway "Product Idea Profitability Evaluator"
software to help entrepreneurs find ideas and evaluate the online profit
potential of those ideas in minutes.
You can learn
more about this breakthrough new software called
Product Idea Profitability Evaluator (PIPE) at:
http://www.ad-alyzer.com/727/productideas
