During the last few years, the global marketplace on the Internet has definitely evolved. You need to go beyond quantity to draw targeted traffic. Effective marketing is not about funneling masses of indiscriminate traffic to read your website. To become successful on the Internet, you need to select a specific market and advertise only to those potential clients who might be interested in what you are presenting.
What is a niche, and how does the selection of subject effect your online success? A niche is an extremely focused subject of relevance to people in that “community”. It could be a group with a particular pursuit, such as embroidery or Japanese flower arranging; a group of sports enthusiasts, like polo players or snowboarders; collectors of specific things such as old cars, or people searching for information on a specialist subject. Regardless of the niche you select, it should be one with a relatively small, but enthusiastic community of followers.
Why is this method better than trying to convince a large group of people to purchase what you are selling? Quite simply, by choosing a smaller, more focused group of people, you have a ready made community of interested prospects, waiting to look at what you are presenting. Make a tantalizing offer, and it’s very possible you will make a sale. You won’t have to explain or persuade – just come up with an excellent product or service that your niche wants and you will have all the customers you can handle.
So, what is the best way of locating a niche? Think about subjects that can be dissected into smaller sections that would be desirable to enthusiasts who absolutely must have what you are offering.. One niche businessperson was known for making hundreds of thousands of dollars offering badges for Porsche sports cars long before he owned one. Another made his riches selling fly fishing equipment online. Handmade art from Russia could be found on a niche web site. Are you getting the idea?
Finding a “hot” niche may take some doing. You want a market where there are enough people searching for what you are selling and buying them that the chance for you to make sales is there. However, you do not want a niche so large that there is too much competition. Struggling for customers is counterproductive if there is no way you will ever be able to dominate your selected market. And of course, the goal is to dominate whatever niche you choose to market to.
With a spot of studying, you can simply find what people are interested in. Go to a nearby bookstore and peruse the magazine rack. Explore book sales and make a note the trends discussed. Look for recent trends and popular topics. Figure out what people are buying, and how you can modify it and come up with an attractive subject potential customers would love to get hold of.
Your chosen niche should allow for the creation of more than one product or service. Even if it is a modification of your ‘core’ subject, being able to present more than just one thing makes good business sense. After all, you want to be able to offer your customers the chance to buy from you over and over again.
Developing joint ventures is a great way to augment the likelihood of generating huge sales. Search for a market that is similar to yours – not a competitor – and create a win/win situation by sharing lists and promotions. This can provide more opportunities to contact your customers and share information about something that may be of interest to them. You might also try to network with more than one joint venture partner, depending on your market. If you can find a “guru” in your chosen niche, so much the better.
There is likely more than one way to grow your niche market or supply products. In the case of an information product, it may be appropriate to create an e-book that could be downloaded directly from your website; a paper copy of the product; an audio version; a video; or any combination of these. Give value and good service, along with a unique approach to your niche so you stick out from the multitude, and you have given your customers an incentive to come back and purchase from you again and again.