Niche Marketing As An Example of Focus Strategy
A company or individual can adopt focus strategy by directing its efforts and core competencies in serving the needs and wants of a particular group of people or group of industry. In other words, you can focus on specific, small segments of customers rather than across the mass or entire market. Niche marketing is an example of focus strategy.
Focus strategy is based on customer needs of particular brands, trademarks, patents, health related problems and solutions, hobbies, social and cultural differences, software developments, specific education and skills, and many others. This gives rise to niche market – as an example of focus strategy.
Imagine the mass market called “people.” What are the general problem areas of a group of people? Can you offer solutions? According to statistics, 64% of adults in the United States of America are overweight or obese. Between 40 and 50 percent of Americans who live to age 65 will have either skin cancer at least once. Every 6.5 seconds a current or former smoker dies, according to the World Health Organization (WHO). Those were the example of niche markets for weight loss and fat loss programs, skin treatment services, and quit smoking campaign solution, respectively.
Let’s take a look at niche marketing strategy using the internet and how to create passive income opportunity –
- Identify niche market that interest you with large percentage of people wanting or needing it. An example would be a “group of tobacco smokers who want to quit smoking.”
- Come up with product that fills up that need or offers solution. Example: artificial cigarette with smoke but nicotene-free, digital information on “how to quit smoking or die.”
- Join affiliate programs if you do not have a product to sell. Preferably, sell your own product.
- Build a blog site or website around that niche.
- Promote the site by putting quality contents such as articles, graphics, videos, etc. Submit articles to article submission directories especially EzineArticles.com.
- Promote site in forum, friends, social media, networking. etc.
- Create videos and upload them to the net.
The more websites you create, the more potential income you get.. Duplicate the efforts that bring more revenues.