Niche marketing is concerned with the specifics of a market, and the nature of those specifics dictate that the market becomes smaller and more focused. The only thing new about niche marketing is that technology has been applied to it, and it has transformed it in many ways. You can find it in play in almost all industries these days. Have you ever noticed how niches are being created and used by companies? Today we will share three special niche marketing concepts and practices that will add a new dimension to your business.
One approach we do not see mentioned very much is dividing your marketing so it addresses different groups, individually. This is not complicated because there will be no changes regarding the product or basic offer. The key is that you will be effectively positioning the product for each category/group so it works and appeals to them. This method contains a great deal of flexibility and has been demonstrated to be a viable method. Consider that all the ‘health bars’ and ‘energy bars’ are an outgrowth or derivative of candy bars. Of course something like this requires some research and a little creative thinking, but it is worth your time if you come across something. In the long run, what matters is how you use niche marketing for your own advantage. Once you have something that works, then you can promote affiliate products to the new niches.
A good way to expand your consumer base is to focus on a sub-niche. If you are marketing to bass fisherman, then you can expand into boats, possibly hunting, clothing, camping equipment – you see what we mean? The ones who like “rock music” can be one sub-niche and the ones that like “rap music” could be another niche. This is a simple way to get more out of your existing market and expand your reach in such a way that you’re able to break into newer markets without really going out of your way.
You absolutely must only market to people who have money and then spend it. It is understandable to assume that all markets spend money, but that is an incorrect assumption. So who wants to take the time and effort to try to do business with markets where no one spends their money, or maybe does not have the extra money to spend. Some of these niches are in the overall hobby niche, but we are talking about online sales. You can check out the PPC ads and see how many there are within any particular niche market. Don’t make the mistake of targeting the wrong niche because you’ll have to pay for it later. All in all, from the above article we come to understand the basic essence of niche marketing and how it works. Bear in mind that there are many factors that will affect your results when you start. However, you can always use what you have learned today and put it into action in your business ASAP.
Filed under: Internet Marketing
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