What is all this fuss about niche marketing? Why is every successful salesperson preaching niche markets as vital to their profitability type: online or offline?
In response to that, let's paint a little … Imagine you have an idea for a great product, an idea so great that you decide to turn it into a product and sell it. You're going to make millions so that work out, hour after hour creating a masterpiece, well … It is a masterpiece in your eyes.
Hours of feverish activity, he spends a month, then another, and finally the big day arrives when you launch your product. You have an excellent product and the best place Internet sales site. Another month is purchased, then two and … Not a single sale!
In desperation, you hire an experienced salesperson for advice, but what I say, crushes …
"Do not stand a chance of snowball in hell for all sales!"
You see that you have chosen a mass market to sell, you're competing against big established suppliers who are seen as experts. The market trusts them because they are well known and have a day. Every month thousands of people are in this situation.
It is infuriating to see others, apparently doing exactly what he did, but make money? From product launches banking profits. Want to know what they have done differently?
They found a niche market, has created a product specifically for this and selling that product to that place only. Do not make the mistake of thinking that niche marketing is something new, market experts have always sold to the niches. It is only recently that niche marketing has been highly publicized.
Niche marketing is the process of searching small profitable segments of a market much broader and involves a lot more effort. Established suppliers to larger markets are often not willing to spend this time and effort required to find smaller segments, leaving them ripe for the picking.
One way to explain the concept of niche marketing is the image of a tree – which has a large trunk that leads to the main branches to smaller branches and finally small branches. Take the issue of fishing that can be compare with the tree trunk with branches away from it, including:
– Deep Sea Fishing
– Salt Water Fishing
– Fishing Game
– Fresh Water Fishing
The smaller branches ranging from freshwater fishing include:
– Fishing baits
– Fishing for bass
– Fly Fishing
The small branches leading Fly Fishing include:
– Trout Fishing
– Fishing Steelhead
– Fly Tying
This is a good example of niche marketing because people that fish tend to be nuts about it. Drill all the way to the small segment of Steelhead fishing and there are still avid fans who want to go at all costs to catch the "big", including the purchase of books or eBooks.
One point worth noting is that any book or book-and Steelhead Fishing better be full of useful advice (ie advice works), so it better be an expert and knows what he is talking about whether it intends to write a …
Find niche market is not as easy or obvious as you might think. Sitting down with a piece of paper and draw a tree list of all your ideas is not the way forward. You are listing your ideas … your ideas do not sell!
You need to find what you want your potential customers, and this requires to carry out some research, here are some ideas to get started:
1) Visit a few online forums related to your interests. Take note of the questions people are asking for, and how often similar questions are asked.
2) Visit a few book shops and go to the magazine section. Take note of the types of magazines for sale. Ask the seller who sells the most magazines.
3) Take a look on eBay and spend some time through categories related to their interest. Take note of popular themes, and how often they sell.
Finding a small segment of a much larger market where people are actively buying, and where there are not many competitors, the better chance you have of making money from selling your own product.
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Article Source: ArticlesBase.com – Should You Consider Niche Marketing?
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