Make Money Online – Niche Marketing
Niche marketing is the most important aspect when it comes to making money online. This is the one aspect that you need to ensure that you do right when doing business online, whether it’s selling products on eBay or blogging.
Now, you must be wondering by now what is niche marketing? The term niche marketing can be defined as a specific segment of the general market for a service or product line aimed at satisfying a targeted market.
To illustrate, let’s say that, upon researching and analyzing, you’d like to sell fishing rods or you’d like to blog about fishing rods. The likelihood of you successfully making money online selling all kinds of fishing rods are not going to be as high as if you specifically focus on one type of fish rod. No one can say that you won’t be able to do it but it’s going to be harder and there will be a lot more competition if you don’t focus on one specific type of a product.
Evidently finding the right product for a specific market requires a lot of research and this process is very important to making money online. But when you do find it, it is going to be rewarding. You need to search for a product (or a service) that has demand from a specific group so that you don’t have many competitors. You can do your research on Google, Yahoo, magazines, newspapers, see what’s current at the shops or advertising.
This process of finding the right product for a targeted market and providing the products to them is what we called niche marketing.
So going back to our illustration, you should find out the different types of fishing rods and focus on one that are promising (after research) and sell them online e.g. through eBay. Or in case of blogging, you should concentrate on one type of fishing rod and blog about it (for example, reviewing about this particular type of fishing rod and where you would get them from).
Once you are successful in earning income from one niche you can then repeat the process and find another promising niche. You don’t need to be a mathematician to figure out the money you can generate from several different niches!