Regardless of the size of your business or level of marketing experience, your marketing efforts should concentrate on targeting specific niche markets. Focusing your efforts on selected niches is known as niche marketing and successful niche marketing is one of the keys to building a profitable online business. Some of the most successful names in Internet marketing got their start selling products and services to highly specific niche markets, names such as John Reese, Brad Fallon, Brad Callen, Frank Kern, and Willy Crawford to name just a few.
When I started off in internet marketing about 7 years ago I basically took what is known as the "shotgun" approach to building my business; I threw a bunch of crap out there and hoped to hit gold. If you're really lucky and very energetic, you can do just fine with the shotgun approach. But I wasn't one of these fortunate people and I spent the next four years struggling to make a dime on the internet. Thanks to the guidance of some much more experienced internet marketers I was able to see the light and realize the advantages of niche marketing.
Let's take a real world example of niche marketing in action. If you're like most people I assume that you occasionally visit the local grocery store. Next time you are there, take a look at the shampoo and conditioner aisle. In the average American grocery store there are hundreds of different shampoos and conditioners to chose from. This is because businesses long ago realized the important advantages of finding a product niche within a major market. The more selective your offering is, the better your chances of success.
For example, let's say you crunched the numbers and found the shampoo market attractive. You could release a basic, run of the mill shampoo and compete with the dozens of other basic shampoos already in the market. If you did this, your chances of success would be very low because you would be competing with numerous established brands who dominate the market.
If, on the other hand, you invested in market research before launching your shampoo product you might discover a need in the market for "strawberry scented dandruff shampoo." Your chances of success would be far greater with strawberry scented dandruff shampoo because you would have little if any competition and you would also have many eager buyers wanting to your buy your product. The combination of little competition and many eager buyers are the key advantages of niche marketing.
The major advantage of niche marketing on the internet is that there is no need to invest heavily in research in order to discover niche products or services. With the internet you can actually do comprehensive niche market research in just a few hours and without spending dime. The internet has made starting a profitable business much easier than in the past.
Article Source: http://EzineArticles.com/?expert=Zachary_Stevens
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