What is Niche Marketing?

What is Niche Marketing?

The word ‘niche’ is defined as: “A special area of demand for a product or service”. ‘Marketing’ is defined as: “The opportunity to buy or sell”.

 

If you put the two works together, niche marketing means buying or selling a product or service in a special area of demand. All that really means is that a product or service is being sold to the people who are most interested in that particular product or service and not to the world in general.

Often times big businesses use niche marketing. For example, a company that makes computers and computer accessories might advertise all-in-one copy/printer/scanners to the home computer user while at the same time advertising single function machines to large businesses.

 

nichemarketing What is Niche Marketing?What Makes Niche Marketing Attractive?

One of the things that make niche marketing so attractive to sellers is that their advertising budgets go further. It costs less to advertise to a specialized market than it does to advertise to a broader market.

 

Niche marketing must be designed to meet the unique needs of the targeted audience. Niche marketers must tailor their product to meet those unique needs. If, for example, you have designed a product to make poodle grooming easy enough for the untrained professional to do it, those who own poodles will be most interested in your product. Those who own Blood Hounds or cats couldn’t care less. If you have written an e-book that will explain how to start and succeed at an online business, those who are looking for that information are your niche market. Those who are happy doing what they are doing are not interested at all.

 

Niche marketing is a very effective and cost efficient way to advertise and sell specific products or services to a specific audience or, hopefully, buyers of that product or service.

 

Niche Marketing in a Nutshell

1.    Your website is the jumping off point of all your niche marketing efforts. So the first step in any successful affiliate marketing business is building a good, credible and professional looking website. You must build a user-friendly website, which will attract your prospects and motivate them to click on the links to the products and services you are promoting and make a purchase. There are companies whose business is building websites that you can hire to build one for you.

2.    You must find products to sell, you must be able to determine whether there is a demand for those products and if people will actually buy them.  You may either have your own original product or products that are made by others. Whichever way you go, you must believe in the products.

3.    It will be necessary for you to become an adept advertiser and be able to tell whether the advertising you are paying for is producing more income for you than the advertising is costing you.

4.    It is necessary that you have good mathematical skills. You will need to be able to track your sales and determine profit, as well as, see to it that your suppliers are paid in full and on time.

5.    You need the full and unwavering support of your family so that you can devote the time and energy necessary to launch your niche marketing.

 

Get your own “made for you” niche site here.

 

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stephsigpicwhite1 What is Niche Marketing?

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About Stephanie Deneke

A total dork that manages to burn dinner, raise and homeschool her daughter, run her own business, inspire others, host training, save lives, empower others to be rich and rock out with her badself all in 1 day.

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