One of the recent storms of the internet-marketing world is the concept of niche marketing. Niche marketing is a complete paradigm shift compared to yesterdays internet marketing, and has almost entirely replaced traditional marketing methods in the online arena.
So, what is a Niche Market?
Niche Marketing Strategy involves effectively choosing a ‘sub-market’ from a larger market. For example, everybody knows the two main internet markets of weight-loss and finance.
Niche marketing would focus on sub-markets inside these market areas that have earnings potential. So, if you chose weight-loss, you may focus on a specific sub-sector of that market i.e. weight-loss pills. And if you chose finance, you might focus on products that teach people how to get rid of their debt.
Not only does niche marketing help target the exact audience you’re looking to sell your product to, which in turn generates a much higher percentage of sales, it also helps cut costs by weeding out all of the people that are part of the larger market sector and may not be interested in what you’re offering.
One of my long-term gurus and advisers told me from the beginning that niche marketing was the best thing that ever happened to the internet. He was right.
If you can dominate a niche, you can dominate your market!
When you begin marketing your niche products to the world, you’ll want to keep a couple of things in mind:
You’ll want to cater to the needs of the consumers in your niche market. Make sure you’re offering a product that they can benefit from and that they would be willing to purchase.
Make sure you use the same language your consumers might use when creating your promotional content. They should be able relate to you and what you have to say, otherwise, they may go somewhere else to get what they need. Your customers want to know that you are a reliable source for this product and that you are an insider with knowledge and experience dealing with this market sector.
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