Niche And Grow Rich
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Unless you have been living under an Internet rock, you've most likely heard the buzz about Niche Marketing. Right now, it is the hottest marketing topic online.
Is it a new concept?
Well, on the web perhaps, but if like me, you've been involved in direct response marketing in the 'Bricks and Mortar' world then it isn't - that is the way we have completed things since time immemorial.
So what's this Niche Marketing thing exactly about?
If you've ever taken Marketing 101 then you'll have heard about the old marketing adage : "Find a need and fill it" -that's what "Niche Marketing" is all about. Finding a "focused" group of individuals, with a specialized interest, eager to purchase (The Niche) and promoting a suitable product or service to all those interested in purchasing it (Marketing).
Allow me to provide you a couple of examples of these Niches :
Recipes Golf Fishing Health and Fitness Travel Collectibles Dating Dog Training Satellite TV Beauty Tips Astrology Cats Bartending Alternative Health Hand-poured Candles Gourmet Foods Gambling Mortgages Credit Cards Music Jewellery
The list simply goes so on and these are just the main headings, you will find niches within all these niches. Think of a subject and there is likely a niche market for it.
But the name of the game is to find a "tightly focused" niche. The reason for this that if you focus on a general market, the competition is tough and it is hard, if not impossible, for the small man to get a foothold.
When you narrow down the size of the market, you eradicate most of the heavy hitters with bottomless advertising budgets, simply because these guys are not interested in making a couple of thousand bucks annually from these small specialized markets, they're pursuing millions from mass markets.
And let's be honest, if you're a small guy, you merely cannot be everything to everybody, so you must pick a specific focus (Niche) for your business. For example don't target "Fishing", rather target "Fishing Baits" or "Fishing Lures" both of which have a far more specific focus.
Get the idea?
As soon as you narrow down the size of the market, you have an automatic benefit over larger companies. Here's why :
* You can rapidly become an expert in your niche (if you're not already)
* It is easier to keep current with a narrowly focused market niche
* You can respond faster to modifications in the market
* You are able to develop close relationships with key customers that will be hard to compete with
Niche marketing isn't a magic bullet. It's not a matter of setting up a web site and then sitting back and waiting for the money to roll in - "build it and they will come" may have worked for Kevin Costner in Field of Dreams, however it does not work that way on the web - if you let that happen, you'll be waiting a long time.
If you would like a successful niche business, you need to work at it the same as any other business - if you are ready to put in the effort, though the rewards can be substantial.
Article Source: Articlelogy.com
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