Niche And Grow Rich by André Anthony
Unless you've been living under an Internet rock, you've probably heard the buzz about Niche Marketing. Right now it's the hottest marketing topic online.
Is it a new concept?
Well on the Internet maybe, but if like me, you've been
involved in direct response marketing in the 'Bricks and
Mortar' world then it isn't - that's the way we've done
things since time immemorial.
So what's this Niche Marketing thing all about?
If you have ever taken Marketing 101 then you'll have
heard of the old marketing adage : "Find a need and fill
it" -that's what "Niche Marketing" is all about. Finding a
"focussed" group of people, with a specialized interest,
eager to buy (The Niche) and promoting a suitable product
or service to all those interested in buying it (Marketing).
Let me give you a few examples of these Niches :
Recipes Golf Fishing Health and Fitness Travel
Collectibles Dating Dog Training Satellite TV Beauty Tips
Astrology Cats Bartending Alternative Health Hand-poured
Candles Gourmet Foods Gambling Mortgages Credit Cards Music
Jewellery
...... the list just goes on and on and these are just the
main headings, there are niches within each of these niches
... Think of a subject and there's likely a niche market
for it...
But the name of the game is to find a "tightly focussed"
niche. The reason for this that if you target a general
market the competition is fierce and it's hard, if not
impossible, for the little guy to get a foothold.
When you narrow down the size of the market you eradicate
most of the heavy hitters with bottomless advertising
budgets, because these guys aren't interested in making a
few thousand bucks a year from these tiny specialized
markets, they're after millions from mass markets...
... And let's face it if you're a little guy you simply
can't be everything to everybody, so you must pick a
specific focus (Niche) for your business. For example don't
target "Fishing", instead target "Fishing Baits" or
"Fishing Lures" both of which have a much more specific
focus...
...Get the idea?
Once you narrow down the size of the market you have an
automatic advantage over larger companies. Here's why :
* You can quickly become an expert in your niche (if
you're not already)
* It's easier to keep current with a narrowly focussed
market niche
* You can respond faster to changes in the market
* You can build close relationships with key customers
that will be hard to compete with
This is something I learned from experience - if you're
interested you can read my story here :
http://www.nichemarketknowhow.com/articles/andre-anthony-
value-of-niche-marketing.htm.
By now you're probably wondering about the mechanics of
this niche marketing stuff. In a nutshell here's how it
works :
* Find and research profitable niche markets
* Locate or develop suitable products/services to market
* Set up a web site to market the products/services
* Establish a marketing system that works for you
* Repeat the process over and over again with a different
niche each time.
Imagine having a niche site producing one sale a day at
say $20. That's $7300 a year - how many sites could you set
up and run 10, 20 ....?
But before you get too excited, I have a word of caution
for you:
Niche marketing is not a magic bullet. It isn't a matter
of putting up a web site and then sitting back and waiting
for the money to roll in - "build it and they will come"
may have worked for Kevin Costner in Field of Dreams, but
it doesn't work that way on the Internet - if you do that
you'll be waiting a long time.
If you want a successful niche business, you have to work
at it just like any other business - if you're prepared to
put in the effort though the rewards can be significant.
Copyright © 2005, André Anthony Niche Market Know-How
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About the Author:
André Anthony owns and operates Niche Market Know-How a
resource for beginning Niche Marketers. Visit
http://www.nichemarketknowhow.com today to find strategies,
tips, tools, products and resources for effective niche marketing.
Get his Niche Market Know-how Mini Course here:
http://www.nichemarketknowhow.com/course.htm
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