Monday, March 8, 2010

A-B-C of Niche Marketing

Niche marketing in simple words is directly marketing out your own/affiliate product to a targeted audience. A good real world comparison would between an local pharmacy and a grocery store, so if a person wants to buy vegetables he/she will go to the grocery store. But if a person is looking to buy medicine he/she will shop at the pharmacy. So the niche of the pharmacy is medicine and the grocery store are vegetables. This topic is bit twisted to explain using online values as examples, but this would be more or less correct definition of online niche marketing as well.

Niche marketing is found out to be widely effective if done correctly. What this type of marketing does is, it brings potential buyers directly to your own/affiliate product. And the customers come looking for the product instead of you going after them to sell it. But to do it right it takes some effort. Finding a niche is easy but finding a PROFITABLE niche market is a little harder.

First and most importantly research your niche market throughly. Pick a strong and vibrant niche you know about. Remember the niche market is growing in numbers and value $$$. The world wide web is crawling with thousands of users with buying potential everyday so there are many marketing opportunities for your niche. So if your niche is sports, look into the topic, research about it through keywords, search results, on forums etc. Also very importantly find out who your competitors are, what are there strong and weak points. Analyze your market. Be strong on your niche when you step in to the market.

Secondly target the right audience. This is where most niche marketers go wrong, they target the wrong customers with their product. Remember if your niche is about sports, market your product/services to people looking for these exact services.. not to people looking for sport cars or any other non relevant customers to your product. So target the right audience for your product. Targeting the right audience will have better results.

Lastly evolve with the niche market. Niche market is growing constantly and for you to stand out of your competitors you need to change with the market. See what new competitors have entered the market on your niche. Find out your strength and weakness in the market. Improve your standing in the market.

If you researched and analyzed well on your niche and marketed it efficiently to a targeted audience on a strong scale you will soon see profits. But don't loose yourself by trying to target high paying niche market as soon as you begin because there are thousands of others doing the same stupid mistake. You can work yourself up to the high paying niche market by putting in some good hard work.

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