What is Niche Marketing – A Simple Explanation?
What is a niche?
A niche is a term used often by Internet Marketers and it means a specific segment of a market. In theory, you seek out specific segments of a market and get a website; you then promote it to your list and market your product to them. In a nutshell, it is what your website is all about.
How to start an internet business the wrong way
Beginners spend a lot of time looking for new niches or untapped niches and there’s a lot of sites online promising to give you untapped niches. If you’re a beginner, don’t do this. This is a waste of your time and it’s a waste of your energy. Once you get more established and you are comfortable using all your new skills then perhaps start to experiment with more diverse niches. To start with though:
STICK WITH THE MAIN 3 MARKETS
When starting out in an internet business you should know that there are 3 markets that are universally popular and these 3 markets have thousands, even millions of people searching and prepared to buy information on them.
In truth, you could spend your entire online career within these 3 markets and never have to venture outside of them and still make a substantial online income. These 3 niches follow the basic rule of economics and that is Supply and Demand. People are looking for something, you have it and you sell it to them. If you can find what people are demanding, and you can supply it, you will be in business forever.
Don’t make it any more difficult than it needs to be, stick with the main 3 markets and you WILL be successful
What are these 3 main markets?
Pure and simply they are:
A niche is a section of one of these markets. Let’s look at some suggestions within each of these markets:
· Online trading
· Work from home
· Credit cards
· Internet marketing
· Start your own business
· Debt relief
· Business opportunities
· Government grants
· How to purchase foreclosures
The author’s main opportunity focuses around Internet Marketing and that alone is a multi billion dollar industry.
· Healthy Eating
· Medical procedures
· Increase energy
· Headache relief
· Lose weight
· Gain weight
· Hair loss
· Skin care
· Children’s health
· Quit smoking
Most people today crave and desire a healthy work/life balance although many fail to achieve it. This is mainly down to longer working hours, time spent commuting to and from work, never actually finishing work in the office and continuing with it at home and therefore having no real quality of life. Other niches within this large industry include:
· Mind, body and spirit – a major boom industry at the moment
· Personal development
· Computer games
· How to sell your house
· The web
· Online study courses – another multimillion dollar industry. You could build yourself a website and sell online courses to meet the ever growing demand.
· Alternative energy
· Self improvement
· Relationship advice
· Stress management
If one of the 3 main areas above resonate with you and you are knowledgeable about it, you could easily have an online business. Consider all the ideas above and start thinking creatively and thinking ‘I’ve always sort of been interested in xyz’. Why not expand your interest and start your own business?
Where do I start in finding products to market?
There are a number of areas you can find businesses to promote and some of these are:
· Commission Junction
· HD Publishing
· Market Health
Firstly though you have to build a list otherwise you have no-one to market your products to. You could if you wish start by signing up for a few lists. Google products in your area of interest and discover what sort of products people are promoting. See what is out there by doing a bit of market research.
In summary, that is what a niche is and it is what your eventual website will be about, the subject matter if you like of your site.