Tag: simple marketing plan

What Are The Advantages in Niche Marketing?

There are several advantages to our simple marketing plan of focusing on niches online.

The first is that by narrowing our topic to something very specific, we allow ourselves the opportunity to become an expert on that narrow niche. To be effective as a marketer, you want to be seen as an authority, someone you customers can trust. Because trust is a key element of the buyers decision making process.

It’s much easier to learn everything important there is to know about Ice Fishing lures and gear than it is to learn everything there is to know about fishing in general.

By selecting a niche and learning about it through research, you will be viewed as an expert who provides solutions for your audience.

Additionally, by focusing on a smaller niche market you will have more targeted customers and less competition. This means you will be in a position to be the dominant force within your niche market.

In other words, you will be the big fish in the little pond, as opposed to being a little fish in a big one.

In niche marketing, the concept is first to identify an audience or customer base. Then to study and understand them so that you have a good handle on what they are looking for, what they are hungry for. And then you feed it to them, by promoting a relevant product to meet that demand. That product may be someone else’s or your own, but the key is that before you go to the trouble of promoting it, you have already identified the people who want it, and understand how and why it will meet their needs. It then is a simple matter to sell it.

The primary advantage of niche marketing is that it reduces resistance to the sales process. You are no longer trying to get people to buy something they don’t want. Instead you are helping them solve their specific problem. As such you become their hero, which is a far more satisfying outcome.

Starting From Scratch: Deciding What Niche to Pursue

Whether you are just starting out for the first time, or adding to an existing internet marketing empire you need to start with a simple marketing plan to find a new niche online.

The advantage of the internet is the ability for people to find specific information on narrow topics of interest to them. With hundreds of millions of people searching for everything under the sun, it becomes possible to do target market marketing by narrowly focusing on a lucrative market where there is demand for products. The trick as a marketer is to identify what niche you can effectively exploit.

In the next several blog postings we will discuss the topic of finding niches that you can develop into your own little piggy banks. Once we have finished that we will move on to how to properly develop those niches.

So what is a niche?

A niche market is a subset of the market on which a specific product is focused. Ultimately that means that every product has its own niche, but to start by focusing on the product is generally a mistake.

For niche marketing internet style, it’s best to first identify the niche, and their needs before you get to the product or solution.

So this implies that a niche is a group of people with a common interest. As an example, millions of people will identify themselves as fishermen or women. But within the overall category of fishing, you will find people who when more specific will say they are into Deep Sea Fishing, or Trout Fishing, or Bass Fishing, or even Ice Fishing.

Within any of these narrower categories there may be additional categories or sub niches, such as Bass Fishing Boats, Bass Fishing Vacations, or Bass Fishing Tips, etc.

As a marketer, our simple niche marketing strategy calls for us to seek out a small segment of larger markets, and identify the needs of the people in that small niche and then provide specific solutions to those needs by selling them solutions to fulfill their demand.

Easy enough to say, but how do we identify profitable niches, where people are hungry for solutions? That will be the topic of our future posts.