What Is Niche Marketing

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What Is Niche Marketing

Do you really know what Online Marketing is?

Online Marketing is all about selling your products, information or services via the Internet to people who are searching the Internet looking for certain information, products and services you sell or promote.

Many people and you may be one of them, think that online Marketing is simply trying to sell your products or services to every single person online! As much as this maybe the ideal scenario and it would be great to have the power and ability to do so, in reality it would never happen and there is a very simple reason why! That reason is simply because not everybody online will be interested in or needs to buy the product or service you are promoting or selling. The chances are, there will only be a very small select percentage of the population throughout the world who will actually be interested in the products or services you sell and will then actually buy them!

The downside of trying to Market your products or services to the wider Market and appeal to everyone, is you do not actually know who your target audience is and where it is located. Not knowing these two essential key facts makes your advertising and Marketing campaigns very difficult because you cannot get your message across to the people that actually matter. Trying to market your product or service to just about every single person living on the planet means that you cannot effectively track your Marketing campaigns and see which ones are working. You have no idea where people saw your advertisement, how they found you or why they were interested in your product in the first place. This then leaves you with no direction and can result in you throwing your hard earned cash into advertising your products or services in Markets that do not actually generate any revenue or profit for your business. Yes, it is good to have sales but when your Marketing costs are exceeding the returns on your investment, that is not a good situation to be in and sadly, it is a very common situation in many businesses. The bottom line is very simple. They are advertising their products and services in a number of different Markets and have no idea which Markets are good and which markets are bad!

This is where Niche Marketing comes in!

So, What is Niche Marketing And Why Is This So Important To You And Your Business?

Remember I mentioned that only a very select small percentage of the population would be interesting in buying the product or service you are promoting or selling. Well, successful Online Marketing is all about targeting this select group of people who are interested in your products or services and then providing them with the information, products or services that they are happy to buy. One of the easiest ways to attract people to your products and services is through Niche Marketing and if you understand Niche Marketing and get it right, you can have a very profitable business.

Targeting this select group of people that have an interest or will have an interest in your products or services is known as Niche Marketing and Niche Marketing is the number one secret to success in any business.

One of the most profitable ways of Marketing your products to these select group of people and to get these people to actually buy them is by providing them with a solution to their problem or offering them something that will be of great benefit to them.

When you have a product or service that you want to sell, ensure your key efforts are at your ‘Target’ Niche Market, instead of wasting your time and money trying to reach everyone. Your return on investment in both time and money will be much greater when you focus on targeting a Niche Market in a certain area. Targeting the right area and the right people, will then allow you to understand what makes your product or service the best in comparison with your competition.

The majority of business owners fail to implement Niche Marketing into their Marketing plan and as a result, end up wasting a lot of time and money in the process.

What Is Niche Marketing – A Simple Example

Ok, you may now be thinking “Ok,I understand how Niche Marketing can help my Marketing campaigns but how do I do it?”

I think the easiest way to provide the answer to the above question is simply to provide you with a quick example.

We have established that when you have a product to Market, it is far more beneficial to find your Niche Market and concentrate your efforts to those people rather the broad market.

Here is an example of Niche Market.

Example:

Let’s say you wanted to promote your new ‘Telescopic Fishing Rod’, now it would be pointless to advertise it in a ‘Knitting’ magazine or on a website for ‘Yoga’ wouldn’t you agree? Ok, there might be some people who enjoy Knitting that like Fishing and also those who do Yoga and enjoy Fishing but those people would be minimal and if you were paying large amounts of money to advertise your product in those types of magazines or on those websites, the chances are you would not make enough sales to generate a profit. This is obviously because the people who buy Knitting magazines or read Yoga websites are not interested in Fishing and are interested in reading about Knitting and Yoga!

So, where do you advertise your new ‘Telescopic Fishing Rod’?

The obvious place to start would be to look for your target Market, which would naturally be people who are interested in Fishing. An obviously place to look would be Fishing magazines. You could also look at Fishing websites, forums and Blogs. You could get in touch with owners of Fishing Newsletters and Membership sites that have large numbers of readers and ask them to mail out to their mailing lists with your offer and in return, pay them a commission on each sale. If you are wanting to sell your product Online through a website, you would be best to do a little ‘Keyword Research’ into your product and find out which are the highest searched ‘Keyword Terms’ for your product and then set up a website around those ‘Keywords’. You could also begin Marketing your product Online using Google Adwords and bidding on those ‘Keywords’ to target your ‘Target Market’.

To Learn More about finding your Niche and Keyword Research, click on the links below:

Finding Your Niche Market

Keyword Research

We hope the above guide has help you understand ‘What is Niche Marketing.