Wanting to make money with niche marketing but not sure if it’s for you? Don’t worry, it really is easier than you think!
If you’ve been online for more than 15 minutes you have probably heard about “niche” marketing.
You HAVE to be involved in niche marketing, they say, to make the really big money.
But the people who talk loudly about how their product will help you succeed with niche marketing often overlook one simple, but powerful, question.
What IS niche marketing and how is it done?
Niche marketing simply means targeting your marketing to a specific group of people who have a common need. Niche marketing works wonderfully well when done right.
That’s why I recommend you master niche marketing.
You understand the basics of niche marketing right now.
Do you doubt that statement?
If yes, let’s test your knowledge of niche marketing right now.
Choosing the right niche can seem a little daunting. You probably have several questions that need to be answered before you take the plunge. We’re here to help with that!
How to Choose a Profitable Niche
Will anyone read the online content I produce?
It’s a terrifying question, but an important one.
If you’re committed to building a popular and profitable site, you’ll have to write, read, and talk about your topic almost every day for the next several years. You’ll invest thousands of hours, quite literally gambling with your time.
The question is, how will you approach it?
Will you start writing and hope someone notices you? Or will you carefully research your niche, looking for the precise angle that will make your content irresistible?
I’ve tried both, and I recommend the latter.
It’s never possible to know for sure whether people will like your content before you create it, but keyword research sure helps.
You can see how many people are searching for your topic in the search engines, and you can use it to compare different topics to each other and gauge their popularity.
Continue reading here…
Having a great idea for your business is a huge first step. But knowing your target audience is just as important! Here are 7 steps to figuring out who your target market is.
7 Steps to Defining Your Niche Market
You’ve come up with a great idea for a business, but you’re not ready to roll yet. Before you go any further, the next step is figuring out just who your market is.
There are two basic markets you can sell to: consumer and business. These divisions are fairly obvious.
For example, if you’re selling women’s clothing from a retail store, your target market is consumers; if you’re selling office supplies, your target market is businesses (this is referred to as “B2B” sales).
In some cases—for example, if you run a printing business—you may be marketing to both businesses and individuals.
No business—particularly a small one—can be all things to all people. The more narrowly you can define your target market, the better. This process is known as creating a niche and is key to success for even the biggest companies.
Walmart and Tiffany are both retailers, but they have very different niches: Walmart caters to bargain-minded shoppers, while Tiffany appeals to upscale jewelry consumers.
“Many people talk about ‘finding’ a niche as if it were something under a rock or at the end of the rainbow, ready-made. That’s nonsense,” says Lynda Falkenstein, author of Nichecraft: Using Your Specialness to Focus Your Business, Corner Your Market and Make Customers Seek You Out.
Good niches don’t just fall into your lap; they must be carefully crafted.
Rather than creating a niche, many entrepreneurs make the mistake of falling into the “all over the map” trap, claiming they can do many things and be good at all of them.
These people quickly learn a tough lesson, Falkenstein warns: “Smaller is bigger in business, and smaller is not all over the map; it’s highly focused.”
1. Make a wish list.
With whom do you want to do business? Be as specific as you can. Identify the geographic range and the types of businesses or customers you want your business to target.
If you don’t know whom you want to do business with, you can’t make contact. “You must recognize that you can’t do business with everybody,” Falkenstein cautions. Otherwise, you risk exhausting yourself and confusing your customers.
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