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Find your niche and get rich
Right now, it's the hottest marketing topic online.
Is it a new concept?
Well maybe on the internet, but if like me you have been involved in direct response marketing in the 'Bricks and Mortar' world then you are not, this is how we have done things since time immemorial.
So what is niche marketing all about?
If you've ever taken Marketing 101, then you've heard of the old marketing adage: "Find a need and place it," that's what "Niche Marketing" is all about. Finding a group of "focused" people, with a specialized interest, wanting to buy (The Niche) and promoting a suitable product or service to all those interested in buying it (Marketing).
Let me give you some examples of these Niches:
... the list goes on and on and these are just the main headlines, there are niches within each of these niches ... Think of a topic and there is probably a niche for it ...
But the name of the game is finding a "strictly focused" niche. The reason for this is that if you are targeting a general market, the competition is fierce and it is difficult, if not impossible, for the little one to take hold.
When you downsize the market, you eradicate most of the heavy hitters with unlimited ad budgets, because these guys are not interested in making a few thousand dollars a year in these small niche markets, they are behind millions of dollars. mass markets. ...
... And let's face it, if you're a little guy, you just can't be everything to everyone, so you need to choose a specific approach (niche) for your business. For example, don't target "Fishing", instead target "Fishing Baits" or "Fishing Lures", both of which have a much more specific focus ...
... Get the idea?
Once you shrink the market, you have an automatic advantage over larger companies. This is why:
- You can quickly become an expert in your niche (if you are not already)
- It's easier to stay current with a niche market with a narrow focus
- You can respond faster to changes in the market.
- You can establish close relationships with key customers with whom it will be difficult to compete
By now, you are probably wondering about the mechanics of this niche marketing collateral. Simply put, this is how it works:
- Find and research profitable market niches.
- Locate or develop suitable products / services to market
- Set up a website to market the products / services
- Establish a marketing system that works for you.
- Repeat the process over and over with a different niche each time.
Imagine having a niche site that produces a sale a day at, say, $ 20. That's $ 7,300 a year - how many sites could you set up and run 10, 20 ...?
But before you get too excited, I have a warning for you:
Niche marketing is not a magic formula. It's not about building a website and then sitting back and waiting for the money to come in: "build it and they will come" may have worked for Kevin Costner on Field of Dreams, but it doesn't work that way on the internet; If you do, you will be waiting a long time.
If you want a successful niche business, you should work at it just like any other business, if you are prepared to push yourself, although the rewards can be significant.